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Pivot Trading

  • #31,221
  • Edited 7:46pm Jul 6, 2019 7:29pm | Edited 7:46pm
Quoting tehtawar
{quote} Your post from 5/18/19 achieved 1st in 2 weeks. T2 next week? Pivot + Harmonic = Money machine ------------------------------------------------ My bonus credit account progress this week , until 1k i'll try withdraw all {image}
Why withdraw it all? Take a small portion enjoy and compound the rest. Here's an interesting tool to put some figures into. Remember as your account grows you can't change the rules on how you play. You have to be prepared to slowly take bigger losses as well as bigger wins. http://www.forex21.com/forex-compounding-calculator/ Its also not just pivot levels plus harmonics they show whats potentially there, quite often its paying attention to the Fundamentals. You could be at S78 on a AUD USD for example and have a Bullish Deep Crab pattern on a H4 time frame if its a RED news event and the RBA cuts prime interest rates by another .25% and the AU falls right through S100 then suddenly the Deep Crab and the S78 meant nothing! You have to pay attention. Technical's alone don't cut it. You need to use a well rounded approach like Davit shows everyone.
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,222
  • Jul 7, 2019 1:21pm Jul 7, 2019 1:21pm
Hey Traders!

Hope u r all doing well. I’m back after taking a short break. Looking at the calendar, I have some key currencies on my watch list. First, we have CAD rate statement on wed, and Projection is rate remains unchanged. Considering CAD is way overbought, most likely might get a beating this week esp on wed. On the other hand, we have GBP news as well and projection is positive..no much on this but hopefully will be good for GBPUSD long as currently is at a support level. Lots of speeches in between…..will be looking to trade what the market will offer.

Have a great trading week
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  • #31,223
  • Jul 7, 2019 7:54pm Jul 7, 2019 7:54pm
Quoting Halfcents
Hey Traders! Hope u r all doing well. I’m back after taking a short break. Looking at the calendar, I have some key currencies on my watch list. First, we have CAD rate statement on wed, and Projection is rate remains unchanged. Considering CAD is way overbought, most likely might get a beating this week esp on wed. On the other hand, we have GBP news as well and projection is positive..no much on this but hopefully will be good for GBPUSD long as currently is at a support level. Lots of speeches in between…..will be looking to trade what the market...
welcome back
In trading, you have to be defensive and aggressive at the same time
  • #31,224
  • Jul 8, 2019 12:59am Jul 8, 2019 12:59am
after 3 weeks my first trade on EJ
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Trading is about paying attention. Davit
  • #31,225
  • Jul 8, 2019 1:27am Jul 8, 2019 1:27am
This week’s significant economic announcements and the currencies affected are listed below. You may want to factor them into your trading decisions this week.

Monday, 8th July

  1. 09:00 – EUR – German Trade Balance

Tuesday, 9th July

  1. 08:45 – CHF – Unemployment Rate

Wednesday, 10th July

  1. 11:30 – GBP – Goods Trade Balance
  2. 17:00 – CAD – BoC Rate Decision
  3. 21:00 – USD – FOMC Meeting Minutes

Thursday, 11th July

  1. 09:00 – EUR – German CPI Final
  2. 15:30 – USD – CPI

*All times are Server Time (GMT+3).

Plan your trade and Trade your plan.
  • #31,226
  • Jul 8, 2019 11:21am Jul 8, 2019 11:21am
AC H1 CJ H4 Red flag CAD news on Wednesday.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,227
  • Edited 2:15pm Jul 8, 2019 1:55pm | Edited 2:15pm
Anticipating correction on EU. Price currently sitting on a buy zone. It'd be nice to see what london session will present tomorrow...
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  • #31,228
  • Jul 8, 2019 2:59pm Jul 8, 2019 2:59pm
Quoting Gmo
AUDNZD As I have posted before (May 24) I have enjoyed the "sedate" manner of AN. Plodding away with good pip gains over last 5-6 weeks. Yellow rectangles show entry exits, yes on occasions related to News, some short positions taken. Like Davit, I usually always sell NZD but fundamentals change this. Some trades shorting NZD against AUD. Most trades buying AUD or selling NZD. With larger accounts I prefer not to post number of trades or lot size or $ gains. Simply, Davit's methodology gives consistent results. {image}
AUDNZD
H4 Chart with Morning Star reversal candle pattern. How far will it go or is it a B wave of an A-B-C correction???
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  • #31,229
  • Jul 9, 2019 4:29am Jul 9, 2019 4:29am
Quoting Gmo
{quote} AUDNZD H4 Chart with Morning Star reversal candle pattern. How far will it go or is it a B wave of an A-B-C correction??? {image}
AUDNZD
Ignored a cardinal rule of mine! Check higher time frame especially Daily later in the day.
Daily closed Monday with Evening Star developing now. Does the trend line hold?
Modest profit 42.7 pips!
Look at Weekly. Is this a correction before a move higher?
May be decided if China/US Trade Deal is worked out??
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  • #31,230
  • Edited 8:45am Jul 9, 2019 5:10am | Edited 8:45am
Well truly like they say, "it's like going to another country, Texas". Had fun, glad to be back trading again. Hopefully some of you may enjoyed reading Traders World issues 1-5. If so, here is 6-10 Knowledge is something one cannot buy, it's something you learn. Everything you learn, dictates what you will become. There are levels to all knowledge.
Attached File(s)
File Type: pdf #6.pdf   1.2 MB | 5,047 downloads
File Type: pdf #7.pdf   1.5 MB | 1,247 downloads
File Type: pdf #8.pdf   1.1 MB | 7,326 downloads
File Type: pdf #9.pdf   647 KB | 1,109 downloads
File Type: pdf #10.pdf   1.1 MB | 919 downloads
You NEVER will be the person you could be, without pressure & discipline
  • #31,231
  • Jul 9, 2019 8:14am Jul 9, 2019 8:14am
Hi guys
Flying to LA today to see my brother.He is not doing well.On dialysis after having liver transplant. Will be there until Sunday.

If you pay attention to calendar and do your analyses every week then trades are obvious.Its simple system dont complicate it.Price either goes up or down.Follow it.
PPE Pivots Price Action Events
In trading, you have to be defensive and aggressive at the same time
  • #31,232
  • Jul 9, 2019 9:10am Jul 9, 2019 9:10am
AC is collapsing hard, now at a multi years low, this BEOB on H1 doesn't promise anything good.
BOC tomorrow hasn't given any hint of a rate cut, only good news on the China / US front could help AUD to recover.
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Porta itineris dicitur longissima esse
  • #31,233
  • Jul 9, 2019 9:24am Jul 9, 2019 9:24am
EG beautiful spot to unload. Watch GC and be aware GBP key events this week.
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In trading, you have to be defensive and aggressive at the same time
  • #31,234
  • Jul 9, 2019 9:26am Jul 9, 2019 9:26am
Quoting bubincka
AC is collapsing hard, now at a multi years low, this BEOB on H1 doesn't promise anything good. BOC tomorrow hasn't given any hint of a rate cut, only good news on the China / US front could help AUD to recover. {image}
Be patient. CAD even rate same is being priced in and it is.
In trading, you have to be defensive and aggressive at the same time
  • #31,235
  • Edited 10:20am Jul 9, 2019 9:45am | Edited 10:20am
Quoting bubincka
AC is collapsing hard, now at a multi years low, this BEOB on H1 doesn't promise anything good. BOC tomorrow hasn't given any hint of a rate cut, only good news on the China / US front could help AUD to recover. {image}
Bubincka, I don't know man, AC looks so tempting for a BUY right now. Hope you can hang in there. People wait years for a trade like this one, I'm watching it close.
P
You NEVER will be the person you could be, without pressure & discipline
  • #31,236
  • Jul 9, 2019 10:00am Jul 9, 2019 10:00am
Quoting DiamondMiner
{quote} Bubincka, I don't know man, AC looks so tempting for a BUY right now. Hope you can hang in there. P
Here you go Peter your favorite pattern AC on a Weekly. There is a Deep Crab on a Daily, another ABCD on a H4, a Deep Crab at the stop on a H1, a Deep Crab on the M30. It does look very tempting I'm wanting to see what the CAD news brings tomorrow. The combination of the last two AUD rate cutes and the USD CHY trade situation has really hammered the Aussie. The one thing I have noticed about the AUD over the years though is once it does get moving in a direction on a long time frame it can move that way for quite some time. What we need now is a rate cut in Canada and some positive trade talks. Standard Pivot points the MS1 is below S100 @ .90369
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,237
  • Jul 9, 2019 10:09am Jul 9, 2019 10:09am
Quoting Davit
{quote} Be patient. CAD even rate same is being priced in and it is.
Hi Davit, you're right.

I'm often caught by agitation while it's better to look at the whole picture.
However, it's not so much the CAD that worries me, but rather AUD because I don't see a way out for it in the short term unless something big happens.
Porta itineris dicitur longissima esse
  • #31,238
  • Edited 1:26pm Jul 9, 2019 12:11pm | Edited 1:26pm
AUDCAD too good to ignore! Building some longs here. GBP sentiments very positive, and currently forming a nice double bottom on 4hrs. if data prints green tomorrow, GBPCAD long will move most i presume.
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  • #31,239
  • Jul 9, 2019 3:25pm Jul 9, 2019 3:25pm
AC LONG BABY !!!!
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You NEVER will be the person you could be, without pressure & discipline
  • #31,240
  • Jul 9, 2019 3:44pm Jul 9, 2019 3:44pm
Quoting DiamondMiner
AC LONG BABY !!!!{image}
@DiamondMiner: are you trading real Money or demo?
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