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Attachments: Pivot Trading
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Pivot Trading

Quoting oswell
Still holding a GBPNZD short, looking good so far. {image} {image} {image}
Nice trade for certain.....may I ask a favour?.....this site and your trade are based on Weekly Pivots, Price Action, Levels and Fundamentals..and this community works with them without such basic tools as stochastic, moving averages, macd and so on. You can use them if you want but when posting, and in the spirit of keeping this forum based on page #1, it would be appreciated if you post accordingly.
Quoting Swede
{quote} Nice trade for certain.....may I ask a favour?.....this site and your trade are based on Weekly Pivots, Price Action, Levels and Fundamentals..and this community works with them without such basic tools as stochastic, moving averages, macd and so on. You can use them if you want but when posting, and in the spirit of keeping this forum based on page #1, it would be appreciated if you post accordingly.
Swede,

Apologize for keeping those basic indicator Swede, will remove them if I'm posting


Regards,
Oswell
1 simple mistake makes you become 1000x better.
Quoting oswell
{quote} Swede, Apologize for keeping those basic indicator Swede, will remove them if I'm posting Regards, Oswell
I appreciate your response, apology really not necessary so thank you. There are many traders in FF who use moving averages and oscillators like stochastic very affectively....traders like digger1 and Aussie and others. It’s just that Davit is very unique in the use of pivots like no other, and he has done us a huge favour by teaching us to focus on weekly pivots rather than one or two, out of the thousands of indicators that have been developed over the years. Here is the rub.......They All Work really Well At PIVOT POINTS. It’s easy to convince ourselves that the indicator was working, instead of the weekly pivot level being the barrier to further upside or downside. Anyway, something to think about, but please keep posting....Ingvar
Quoting GreenEarth
Kingdomk , I am missing something about your comment about having your trade go against you. You are short , and currently in profit at 1.8219. Unless you exited your entire position , your initial entry point was late, should have been much closer to the R38 level IF you were truly committed to this trade, but your placement of your highest concentration was near the WEEKLY PIVOT POINT. This pair is approaching a zone where the possibility exists that a retrace is "around the corner". Like DAVIT say's , when you put on a trade , "...you have to...
I will reply to this later tonight. Thanks for sharing
A sure sign Halloween is approaching soon AC H4 BAT pattern. CAD may be in for some turbulence as we have a Federal election on OCT 19. I'm hoping we get Turdeau turfed. Left wing globalist sellout. He's hurt the Canadian economy really bad.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
EU - not sure if you can see my entries exit but ultimately trade manager closed my positions. About 150 pips from the stack of trades i had on a 35 pip move up.

FTSE100 - Took a cheeky short, after the 3rd rejection on 15m @ R61. I wouldn't have usually touched this given the bulls power throughout the LDN session. BUT ADR was exhausted @ 143% coupled with LDN closing (thin liquidity/profit taking) and the beautiful R61 rejections. Bagged 33 odd pips before closing.
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I wasn't sure if I should load a bunch of shorts today but after looking at the awesome little tool provided by Cryptosurf that clearly showed the 20 day average have been breached...and then the pull back and failure at the breakout level...as well as the failure at pivot ... and the overall downtrend with no fundamentals to reverse the trend........it screamed short and so far its in the money nicely.
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Quoting Swede
I wasn't sure if I should load a bunch of shorts today but after looking at the awesome little tool provided by Cryptosurf that clearly showed the 20 day average have been breached...and then the pull back and failure at the breakout level...as well as the failure at pivot ... and the overall downtrend with no fundamentals to reverse the trend........it screamed short and so far its in the money nicely. {image} {image}
It is a great tool for spotting swing failures in addition to a visual representation of the ADR.
Trade with confidence, trade without fear.
Quoting kingdomk
{quote} I will reply to this later tonight. Thanks for sharing
As you can see I started my first position last week Thursday. Held them for 1 week. Last week it had a good run i was expecting a pull back and PA confirmed. Agree pivot is the equilibrium overall. But based on where it touched last week (r100 or r78) i would trade against the weekly pivot. PA confirmed the trade at the top and i loaded some more as I the fundamentals took a turn for the worst in England (i live here and work within a tier 1 hedge fund there's too much uncertainty)
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Quoting GreenEarth
Kingdomk , I am missing something about your comment about having your trade go against you. You are short , and currently in profit at 1.8219. Unless you exited your entire position , your initial entry point was late, should have been much closer to the R38 level IF you were truly committed to this trade, but your placement of your highest concentration was near the WEEKLY PIVOT POINT. This pair is approaching a zone where the possibility exists that a retrace is "around the corner". Like DAVIT say's , when you put on a trade , "...you have to...
Hi GreenEarth, given your comment about being willing to hold positions for 6 weeks I'm a little curious about you choosing NU long as opposed to something like EN short? For me it's a better option as both hoping for N strength but EN pays positive swap vs NU negative and U has been a lot stronger than E. Just some food for thought and timing of entries is obviously important as EN not currently at a level to enter.
Hope for the best, prepare for the worst.
Quoting kingdomk
EU - not sure if you can see my entries exit but ultimately trade manager closed my positions. About 150 pips from the stack of trades i had on a 35 pip move up. FTSE100 - Took a cheeky short, after the 3rd rejection on 15m @ R61. I wouldn't have usually touched this given the bulls power throughout the LDN session. BUT ADR was exhausted @ 143% coupled with LDN closing (thin liquidity/profit taking) and the beautiful R61 rejections. Bagged 33 odd pips before closing. {image} {image}
I exited right @ 7:00 on that one. My overall bias on the Euro is down however on most occasions we usually have these steps in the process of price movement a riskier trade going in the opposite overall trend direction. Like you I bagged some pips and I was around to watch it. You could certainly see the price action at play this morning as price moved up with that big option expiry however they weren't able to drive it far enough to protect the option. I had moved my stop into the profits and as soon as it was clear those extra pips weren't going to be had I closed it. If option expires are mediocre I don't pay much attention to them, however when they are huge like that one with nearly 8 billion at those levels its worth paying attention too. I see it dropped 60 pips from 10 am However I'm not going to be entering a sell trade between S61 and S78 level support, it violates the probability rules of this system.
Fib Traders get it right 61.8% to 78.6% of the time. NR
Quoting Cryptosurf
{quote} It is a great tool for spotting swing failures in addition to a visual representation of the ADR.
Thanks for sharing that ADR tool. it looks very interesting. I'm going to load it on my charts and try it out.
Fib Traders get it right 61.8% to 78.6% of the time. NR
Quoting Romanov102
{quote} Thanks for sharing that ADR tool. it looks very interesting. I'm going to load it on my charts and try it out.
Thanks. Again its a visual representation of the existing ADR_v2 indi of Davits method.

Examples posted here:
https://www.forexfactory.com/showthr...2#post12524072
https://www.forexfactory.com/showthr...5#post12172345
https://www.forexfactory.com/showthr...4#post11172204
https://www.forexfactory.com/showthr...2#post10909752
https://www.forexfactory.com/showthr...3#post10505283
Trade with confidence, trade without fear.
thank you
I will get my head around this, but always can be wrong
Dab , the trade that I held for 6 weeks was USD/CAD , which I trade almost exclusively.
I never trade EN , in fact I've never ever looked at that pair.
NU was a trade that I put on a number of times this week , and thus far this week my account is up over 10%.
Currently I am short from .62912 on the NU and at the time of writing in profit.

With respect to my longest held trade ever , USD/CAD, 6 long weeks , my account management skills which DAVIT has talked so much about , I was able to stay in the trade stress free. The length of time it took for the trade to fully develop drove me crazy but DAVIT's teachings have truly totally changed my mental approach to trading. The Mark Douglas videos were instrumental as well. I'll tell you , I REALLY HAD TO FIGHT THOSE MENTAL DEMONS !!
In the end , the trade was successful due to patience.
Kindest Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
Nothing exciting on the radar today. Looking for tiny little rejections at key levels. For e.g. ftse100 has 3 rejections at R100. But GBP weakness is giving a nice boost to FTSE100 - im looking at a very small position (if any) and risk-free as soon as possible.

FTSE penetrated past R100 and still looks strong. I've got nothing on the table at the moment. Anybody else?
PA looking good for a swing up from S100 on GU EU. Countertrend so tight stops and always strong MM
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Awesome entries Kingdomk !!
Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
Going to call it a wrap for the week....not as good as I expected but there wasn't a lot to drive the market...tons of manipulation with NU but one has to adapt and think like the Big Banks...and trade the same levels they target...not hard to see if one takes the time before the session start and mark a line where you expect movement to reverse or break out...

One has to enjoy their success, so that one can overcome the failures ha ha. Anyway off to Hawaii for a couple of weeks, the market will still be here when I get back so there is little fear I will miss something. The news will be full of only one thing this next while, I think Mr Trump has serious trouble ahead this time. How the markets will react to all the conflict...who knows??? Keep an eye on that USDX..it will lead the way in your trading US pairs...or skip US pairs for awhile entirely...other currencies are less likely to be manipulated...my opinion.
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Quoting Swede
Going to call it a wrap for the week....not as good as I expected but there wasn't a lot to drive the market...tons of manipulation with NU but one has to adapt and think like the Big Banks...and trade the same levels they target...not hard to see if one takes the time before the session start and mark a line where you expect movement to reverse or break out... One has to enjoy their success, so that one can overcome the failures ha ha. Anyway off to Hawaii...
Looks like its tires and a trip.
I saw the weather channel showing traffic in Calgary today maneuvering through the snow. Are you taking a dogsled to the airport? Looks like a great time to be leaving, enjoy Hawaii.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
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