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Pivot Trading

  • #31,501
  • Jul 30, 2019 12:03pm Jul 30, 2019 12:03pm
If the feds actually lower interest rates (as anticipated)you will see tremendous moves, retracements out of the extremes we are all getting used too. Wednesday’s rate decision could be very lucrative.....
  • #31,502
  • Jul 30, 2019 4:05pm Jul 30, 2019 4:05pm
Quoting ranilo.vince
{quote} Hello Bubincka, I believe there's no such thing as oversold or overbought coz we saw that a lot of times where price just keeps going to extreme levels for a few months already.. And it's about time for you to remove your TDI and concentrate on PA most especially on higher TFs. Also, these are the times we cannot fully rely on pivot zones only for the price to reverse, we have to wait for price confirmation to be more safe.. Like strong reversals on the Daily first(like engulfing candle, pin bar or hammer will do) Anyway, I cannot answer...
@ranilo.vince: there is nothing wrong with using TDI!
  • #31,503
  • Jul 30, 2019 11:27pm Jul 30, 2019 11:27pm
NJ
EN
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Trading is about paying attention. Davit
  • #31,504
  • Jul 31, 2019 12:43am Jul 31, 2019 12:43am
report
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Trading is about paying attention. Davit
  • #31,505
  • Jul 31, 2019 3:40am Jul 31, 2019 3:40am
Update to the last trades I posted. EU and EG.

EU is quite struggling to move but price action and pivot points to the same direction and that's the possibility of moving up. Just have to give it some time and let the market do the work.

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EG meanwhile shot up when I opened my laptop. This particular EG trade taught me what Davit has been teaching all along. Pivots can be used to trade swings. Clearly if you look left it's uptrend. I used S38 to S78 to determine swing low. Having the swing low at these strong levels gave me confidence and confluence that price can possibly move to the upside. It did.

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Patience and Discipline, these are the Holy Grail.
  • #31,506
  • Jul 31, 2019 4:07am Jul 31, 2019 4:07am
Quoting marcnathan88
Update to the last trades I posted. EU and EG. EU is quite struggling to move but price action and pivot points to the same direction and that's the possibility of moving up. Just have to give it some time and let the market do the work. {image}
Mmh, i'm don't agree on EU analisy...I see it like this: if you watch EU on D yes, there is a good support level BUT.. on W we are on a bearish trend + last week EU touched nearly WS161, now price can bounce on WPP and drop again...of course with FED news all can happen
Avoid the crowd. Be chess player, not chess piece
  • #31,507
  • Jul 31, 2019 4:17am Jul 31, 2019 4:17am
Quoting marcnathan88
Update to the last trades I posted. EU and EG. EU is quite struggling to move but price action and pivot points to the same direction and that's the possibility of moving up. Just have to give it some time and let the market do the work. {image} EG meanwhile shot up when I opened my laptop. This particular EG trade taught me what Davit has been teaching all along. Pivots can be used to trade swings. Clearly if you look left it's uptrend. I used S38 to S78 to determine swing low. Having the swing low at these strong levels gave me confidence and...

Good catch on EG, but make sure to take some profits and protect the rest coz markets not always going to be like that...

acsandrei is right on EU, it's too early to go long, but who knows, maybe you're right. Just take extra caution and trade safe!
We're not here to be right, we're here to Profit Consistently!
  • #31,508
  • Jul 31, 2019 4:58am Jul 31, 2019 4:58am
Articles of Worth!
http://www.bkassetmanagement.com/fea...olds-key_13368
http://www.bkassetmanagement.com/fea...fomc-day_13365
  • #31,509
  • Jul 31, 2019 5:01am Jul 31, 2019 5:01am
AUDNZD
Finally a reversal. +1291.1 31 trades total. Not all plotted.
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  • #31,510
  • Jul 31, 2019 8:43am Jul 31, 2019 8:43am
Quoting Gmo
AUDNZD Finally a reversal. +1291.1 31 trades total. Not all plotted. {image}
Timely exit. Missed that and now again in the queue.
Porta itineris dicitur longissima esse
  • #31,511
  • Edited 11:04am Jul 31, 2019 10:18am | Edited 11:04am
AUDUSD UPDATE: I started selling AU on 7/22 I'm all out @0.68713. Taking some me time until Aug 15.
Location + Logic = PiPS

http://prntscr.com/omjrpf

http://prntscr.com/omkibz

Cheers!
Plan your trade and Trade your plan.
  • #31,512
  • Edited 1:09pm Jul 31, 2019 12:07pm | Edited 1:09pm
USD on a Daily. And its a 1/4% cut, and up the USD goes in price! The BANKSTERS must currently be in the process of knocking out the short sellers with a head fake. I waited for the surge up and sold 10 to go down. Born in the DARK, however not last night.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,513
  • Jul 31, 2019 8:40pm Jul 31, 2019 8:40pm
So the Greenback soars higher on an interest rate cut? I waited for the first pop up. I had 1 position then I added 9 more when it came back down, added another 3 went away for a few hours it appeared to be stabilizing and looking ready to go down. Oh no it based and shot higher and just knocked out my 9 position short contract which were placed well above resistance zones and levels Both the YEN and the USD are getting stronger today. On the left side of my screen are green volume bars as you can see we have lots of higher price action on little to no volume. Starting to feel like we're at one of those rigged carnival games.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,514
  • Jul 31, 2019 9:08pm Jul 31, 2019 9:08pm
Quoting Romanov102
So the Greenback soars higher on an interest rate cut? I waited for the first pop up. I had 1 position then I added 9 more when it came back down, added another 3 went away for a few hours it appeared to be stabilizing and looking ready to go down. Oh no it based and shot higher and just knocked out my 9 position short contract which were placed well above resistance zones and levels Both the YEN and the USD are getting stronger today. On the left side of my screen are green volume bars as you can see we have lots of higher price action on little...
Yep that's forex baby! Anything can happen now even correlations are not being followed anymore. Getting more tricky now and you have to cope up and adjust if you want to stay consistent...
We're not here to be right, we're here to Profit Consistently!
  • #31,515
  • Aug 1, 2019 2:40am Aug 1, 2019 2:40am
Not much to show from side in this period.

I read somewhere that markets are ranging 80% of the time and are trending the remaining 20% (Pareto 80/20 principle ?).

Now i see a period of strong and prolonged trends that are struggling to revert to the mean (i.e. our fib weekly pivot) and this situation is far from my ideal trading style because I'm not a good trend follower.

Yesterday after FOMC cut rate of 25 bp, the USD strengthened across the board and Mr. Powell appeared less dovish than expected when remarking that the move is not necessarily the start of an easing cycle.

I closed my AN long, one more week of work then a couple for holidays.
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Porta itineris dicitur longissima esse
  • #31,516
  • Aug 1, 2019 4:39am Aug 1, 2019 4:39am
EJ
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Trading is about paying attention. Davit
  • #31,517
  • Edited 7:19pm Aug 1, 2019 11:36am | Edited 7:19pm
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Still hanging in with AN(my slow moving dinosaur),Well..... Crap happens....My ship just got hit broadside with two torpedoes. I think I just lost my FAITH.... Attachment g For those who are readers enjoy back issues of Traders World #33, and 34
Attachment g
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Attached File(s)
File Type: pdf #33.pdf   4.3 MB | 2,383 downloads
File Type: pdf #34.pdf   4.0 MB | 2,364 downloads
You NEVER will be the person you could be, without pressure & discipline
  • #31,518
  • Aug 1, 2019 12:54pm Aug 1, 2019 12:54pm
Four reasons to consider a Cad short....fundamentals are strong and this mornings move was unusual and probably a stop run....for now based on the attached trading page...
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  • #31,519
  • Aug 1, 2019 1:18pm Aug 1, 2019 1:18pm
Who would have ever thought we'd see such crazy moves in the markets in these last two days? I reentered my USD short last night after having my parachute stop knocked out. Now watching YEN crosses free fall like the thin liquidity day in January when they run stops. This is one problem with Forex no safety mechanism that halts trading. Although even with a safety mechanism once panic ensues there are no real differences except an orderly stepped meltdown. With commodities you can get in a locked limit down situation until the next day when the same thing occurs and trading on the markets can be halted only to resume the next day until halted again. An article from the WallStreet Window.
http://wallstreetwindow.com/2019/08/...on-08-01-2019/
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,520
  • Aug 1, 2019 1:37pm Aug 1, 2019 1:37pm
Quoting Romanov102
Who would have ever thought we'd see such crazy moves in the markets in these last two days? I reentered my USD short last night after having my parachute stop knocked out. Now watching YEN crosses free fall like the thin liquidity day in January when they run stops. This is one problem with Forex no safety mechanism that halts trading. Although even with a safety mechanism once panic ensues there are no real differences except an orderly stepped meltdown. With commodities you can get in a locked limit down situation until the next day when the...
And Aussie reacting badly....suddenly 67 is not only possible but probable...yikes!
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