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Pivot Trading

  • #31,841
  • Sep 5, 2019 4:09am Sep 5, 2019 4:09am
Learning the low hanging fruit setup by Cryptosurf.
Close was maybe a bit early, but plenty of red news shortly ahead for USD.
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Porta itineris dicitur longissima esse
  • #31,842
  • Sep 5, 2019 5:08am Sep 5, 2019 5:08am
Oh man, how long I've been holding this little sucker.

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  • #31,843
  • Sep 5, 2019 5:54am Sep 5, 2019 5:54am
Quoting bubincka
Learning the low hanging fruit setup by Cryptosurf. Close was maybe a bit early, but plenty of red news shortly ahead for USD. {image}
Yep, is a textbook trade I look for. Well done.
Trade with confidence, trade without fear.
  • #31,844
  • Sep 5, 2019 7:12am Sep 5, 2019 7:12am
Quoting Cryptosurf
{quote} Yep, is a textbook trade I look for. Well done.
Thank you, Cryptosurf.

Closed another one of this kind since USD red news could come out either way and I don't want to give back my profit.
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Porta itineris dicitur longissima esse
  • #31,845
  • Sep 5, 2019 8:51am Sep 5, 2019 8:51am
Quoting bubincka
{quote} Thank you, Cryptosurf. Closed another one of this kind since USD red news could come out either way and I don't want to give back my profit. {image}
In hindsight I could have hold on for more.

Risk sentiment turned on following encouraging news from trade talks and Brexit overriding USD good data.
Porta itineris dicitur longissima esse
  • #31,846
  • Sep 5, 2019 9:55am Sep 5, 2019 9:55am
closed my UC Short +$83.90
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  • #31,847
  • Sep 5, 2019 9:56am Sep 5, 2019 9:56am
closed my GC Buy (Reload) +$102.17
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  • #31,848
  • Sep 5, 2019 10:00am Sep 5, 2019 10:00am
closed my GU Buy (Reload) +$77.54
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  • #31,849
  • Sep 5, 2019 10:03am Sep 5, 2019 10:03am
Anyone gona take these CJ
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  • #31,850
  • Sep 5, 2019 10:03am Sep 5, 2019 10:03am
closed my GJ Buy (Reload) +$82.57
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  • #31,851
  • Sep 5, 2019 10:29am Sep 5, 2019 10:29am
Closed my UNOK today in the green had a significant draw down on this one for awhile and added some more short positions as it climbed higher, patience paid off. Mopping up ahead of NFP don't want to be left a bag holder. It started going back up right after I closed it. 100 pips up on AJ I entered on Tuesday evening off of the WPP.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #31,852
  • Sep 5, 2019 1:37pm Sep 5, 2019 1:37pm
Quoting Swede
Had a bit of a nasty loss last night (see chart) so had to get my act together this morning. Cable once again acted very erratic in reaction to the Political and Uncertainty in Britain.....but it can only go so far before stalling and I expect a larger pull back in the days going forward....but for now the stall came at R78, the ADR was in red, Red news in favor of USD, Euro stalling and above all Price Action was very clear...couldn't help but load the guns and risk more than I would normally be comfortable with....have closed everything atm to...
Hi Swede,

I think GBP is a pure time bomb until Brexit things are settled.

Despite some enticing good setups I avoid it because here more than ever anything can change in a blink of an eye.
It can be a good pick for some quick scalping, but holding positions it's really too dangerous.
Porta itineris dicitur longissima esse
  • #31,853
  • Sep 5, 2019 2:12pm Sep 5, 2019 2:12pm
Quoting bubincka
{quote} Hi Swede, I think GBP is a pure time bomb until Brexit things are settled. Despite some enticing good setups I avoid it because here more than ever anything can change in a blink of an eye. It can be a good pick for some quick scalping, but holding positions it's really too dangerous.
I agree with you totally....thus I’m back to cash. However, I love time bombs as long as I can be at my station to trade the occilations, thus I use OANDA....no requotes, no delays when you hit the button. Many traders opt for low low spread with offshore brokers but very often pay the price when they need to get out of a position, in profit or in loss. With OANDA in or out it’s filled in a millisecond.
  • #31,854
  • Sep 5, 2019 2:32pm Sep 5, 2019 2:32pm
Davit is a Buddy of mine and I know this thread is a lonely place without him. Wishing for his return.
P
You NEVER will be the person you could be, without pressure & discipline
  • #31,855
  • Sep 5, 2019 2:39pm Sep 5, 2019 2:39pm
Quoting DiamondMiner
Davit is a Buddy of mine and I know this thread is a lonely place without him. Wishing for his return. P
I agree....I deleted my last post on scalping the Pound/Dollar because it was scalping and that is not what this thread is about, even through it had all the elements in place.....especially to new traders starting this method I dont want them to think they can scalp their way out of a bad position. So,I want to keep it clean for Davit's return and hope that is soon....
  • #31,856
  • Sep 5, 2019 5:47pm Sep 5, 2019 5:47pm
Have this on my radar for next week. See what GDP does on Monday morning.

Good week so far

Cheers
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If you fail to plan, Plan to fail
  • #31,857
  • Sep 5, 2019 5:53pm Sep 5, 2019 5:53pm
Quoting bubincka
Learning the low hanging fruit setup by Cryptosurf. Close was maybe a bit early, but plenty of red news shortly ahead for USD. {image}
Really like this setup. Thank you Cryptosurf.
If you fail to plan, Plan to fail
  • #31,858
  • Sep 6, 2019 8:42am Sep 6, 2019 8:42am
Ya gotta love NFP day...market acting like a drunken sailor.....everything is wonderful in his life until the hangover....that is when we have tons of opportunities if your a pivot trader....anyway here is market shot of the majors and gold, oil, dow 30, s and p....
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  • #31,859
  • Sep 6, 2019 9:04am Sep 6, 2019 9:04am
Again, trailing closed my NC long.

It can be early, it can be good or bad, however trading week is ending, CAD can come back so no problems at all.
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Porta itineris dicitur longissima esse
  • #31,860
  • Sep 6, 2019 9:34am Sep 6, 2019 9:34am
I know many of you are staying away from Cable...but I have to say over the long run it really reacts at pivot levels....I wont post the profits but it has been a real money maker the last 48 hours since it rallied up into the R78-R100 zone....every time it tries to break it fails and new shorts taken. And nearly every short paid 30+ pips. An hour ago once again the R78 tested (see 5 min chart) and showed instant weakness....then fell to the next pivot level R61 in just 20 minutes. Call it scalping if you like, it is still pivot trading and making $$$.

Thing is this is trading at your terminal, not swinging for the next few days because news, another political Brexit move and whatever can change the trading page tremendously....so yes it is volatile, but it is also a mover......ending the week big green...lol
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