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Pivot Trading

  • #32,181
  • Oct 18, 2019 7:39am Oct 18, 2019 7:39am
I am done for the week! a very profitable one!

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Closed this week:
AC 1st batch +189 pips, 2nd batch +187 pips
EN 1st batch +149 pips, 2nd batch +398 pips, 3th batch +122 pips
EA +191 pips

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Let's pile the pips!
"In the end you only trade yourself."
  • #32,182
  • Oct 18, 2019 9:05am Oct 18, 2019 9:05am
Is UC to go lower or is it time for a reversal ?

Next week I see almost no relevant event calendar for USD while for CAD there will be on Tuesday Core Retail Sales, BOC Business Outlook Survey and Crude Oil Inventories on Wednesday.
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Porta itineris dicitur longissima esse
  • #32,183
  • Oct 18, 2019 9:24am Oct 18, 2019 9:24am
Quoting bubincka
Is UC to go lower or is it time for a reversal ? Next week I see almost no relevant event calendar for USD while for CAD there will be on Tuesday Core Retail Sales, BOC Business Outlook Survey and Crude Oil Inventories on Wednesday. {image}
That is hilarious bubinka......I was just about to post the same chart when I looked up and there was yours....yes this is on my watch list for certain next week...

.what I wanted to post is the beauty of market structure Cryptosurf has brought to our attention that shows itself so clearly on this chart from last week....that was a 212 pip drop that I missed while I was trading way more difficult currency...gbp...it would have been way less stressful to just pay attention to the chart and trade it....that is what we are being trained to do....anyway, what a blessing to be part of this room....it has made such a difference in how I view the market...it does not confuse me anymore...thanks to all the participants and Davit for making all this happen..
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  • #32,184
  • Oct 18, 2019 10:56am Oct 18, 2019 10:56am
Hello Pivoters,

@davit good to see that you are back. My 14 years old is now a pivoter . The only method he's exposed to is Davit Pivots.He started live trading on Oct 1 2019.

Regards
OP

Have a great weekend everyone!
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Plan your trade and Trade your plan.
  • #32,185
  • Oct 18, 2019 11:16am Oct 18, 2019 11:16am
Quoting bubincka
Is UC to go lower or is it time for a reversal ? Next week I see almost no relevant event calendar for USD while for CAD there will be on Tuesday Core Retail Sales, BOC Business Outlook Survey and Crude Oil Inventories on Wednesday. {image}
And lets not forget our Canadian election on Monday. This reckless jackass and his band of windbags that's at the helm has driven our National debt up 20% in four short years. Hopefully we replace him on Monday. I don't think BOC can hold much longer like Davit said they are going to have to join the cut party in a race to the bottom.
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #32,186
  • Oct 18, 2019 12:11pm Oct 18, 2019 12:11pm
Quoting Swede
{quote} That is hilarious bubinka......I was just about to post the same chart when I looked up and there was yours....yes this is on my watch list for certain next week... .what I wanted to post is the beauty of market structure Cryptosurf has brought to our attention that shows itself so clearly on this chart from last week....that was a 212 pip drop that I missed while I was trading way more difficult currency...gbp...it would have been way less stressful to just pay attention to the chart and trade it....that is what we are being trained to...
Yeah man, textbook late week markup and swing failure.

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Trade with confidence, trade without fear.
  • #32,187
  • Oct 18, 2019 4:59pm Oct 18, 2019 4:59pm
Great week guys most of you made $$ and that's what counts!
Trading is as much mental gymnastics as financial endeavor hence do watch Mark Douglas videos if you have not.
Made great money this week and the month so far basically hit my monthly goal already and anything gained from this point on is gravy.
I think the reason also USD got sold hard there is almost nothing on USD next week hence market had gone full tilt USD bear and that specially rather red manufacturing data. If you follow my logical trading with fundamentals then you would not have ANY shorts on EU NU AU at the swing tops because as I always say trade with fundamentals and let the market do the heavy lifting meaning let the market push down on EU AU NU and you buy the dips.This is in case trade continues going north you dont want to hold DD and be on wrong side of fundamentals.
The reason you can't create EA for this system because its discretionary there is lot of human input filtering.
have great weekend
In trading, you have to be defensive and aggressive at the same time
  • #32,188
  • Oct 18, 2019 5:00pm Oct 18, 2019 5:00pm
Quoting Opayq
Hello Pivoters, @davit good to see that you are back. My 14 years old is now a pivoter . The only method he's exposed to is Davit Pivots.He started live trading on Oct 1 2019. Regards OP Have a great weekend everyone! {image}
Thank you and wish you and your 14yr old great perseverance and profits!
In trading, you have to be defensive and aggressive at the same time
  • #32,189
  • Oct 18, 2019 7:48pm Oct 18, 2019 7:48pm
DAVIT , my mentor.
Trading is going very , very well.
My win ratio for my trading is now just a tad under 90% !!!!
NEVER would have dreamt of this , not large accounts mind you.
I doubled my youngest son's account in 5 months , he didn't believe me that I could do it , he's an electrician.
My middle son really perked up since he is employed by the Royal Bank of Canada. I couldn't help myself telling him ,"...so much for your Portfolio Managers , stealing client's hard earned money!!'
Have to admit , I just got stung in my personal account on the NZD/CAD while I was traveling , more than I should have. My confidence level got a little too high for my own good.
So glad you're back , fellow traders have been doing an amazing job "holding the fort".
Still , my trading is far beyond what I ever imagined.
The BEST FOREX THREAD ON THE WEB !!!
Forever indebted to this thread ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #32,190
  • Oct 19, 2019 3:41am Oct 19, 2019 3:41am
Quoting GreenEarth
DAVIT , my mentor. Trading is going very , very well. My win ratio for my trading is now just a tad under 90% !!!! NEVER would have dreamt of this , not large accounts mind you. I doubled my youngest son's account in 5 months , he didn't believe me that I could do it , he's an electrician. My middle son really perked up since he is employed by the Royal Bank of Canada. I couldn't help myself telling him ,"...so much for your Portfolio Managers , stealing client's hard earned money!!' Have to admit , I just got stung in my personal account on the...
Hi GE thank you and wish you continued sucess
Not sure about your NC loss.Were you shortening or buying?Most of us were buying as that was mentioned here by me several times.
regards
In trading, you have to be defensive and aggressive at the same time
  • #32,191
  • Oct 19, 2019 3:53am Oct 19, 2019 3:53am
Hi guys for next week obviously Brexit vote today dominates and shapes how market will react Monday. Not sure even if passed Brexit good for Euro significant partner leaving from the European Union is obviously a negative hence dont know how market makers will push the Euro.Fundamentally its obviously weakening the European Union hence logically Euro should depreciate and if does not pass it could depreciate the uncertainty aspect of it.
These are just my thought processes obviously market will decide how to push it.
Canadian dollar should get weaker this week and love to see AC NC drop to load them up AC could start 90+journey.
Biggest news is ECB on Thurs and Draghi last one.Very likely pump and dump scenario.

Looking forward for another profitable week ahead!
In trading, you have to be defensive and aggressive at the same time
  • #32,192
  • Edited 11:47am Oct 20, 2019 11:16am | Edited 11:47am
My Calendar events for week four October

This week we will have more of Brexit drama, Canadian Elections, lots of PMI data from Eurozone, ECB Monetary Policy and Draghi's last ECB council meeting.

Mon
EUR German PPI m/m projection of -0.1, previous -0.5. I don't think this is a mover, but is good to be aware
CAD Federal Election Latest polls suggest that the Federal elections in Canada are likely to yield a minority government. The implications for the energy sector will drive market reaction but risks for the CAD appear tilted to the downside (source). Here is a Romanov102's insight about the subject

Tues
CAD Core Retail Sales m/m previous -0.1, no projection yet. Watching AC and NC to any pullback to reload longs
CAD BOC Business Outlook Survey This report is highly respected given its source and timing in relation to interest rate decisions. It can also have predictive qualities regarding future economic conditions because the surveyed firms are selected in accordance with their composition of the nation's GDP. It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment
NZD Trade Balance


Weds
USD Crude Oil Inventories Red here is positive to CAD

Thurs
EUR Lots of PMI data, projections are positive, if green, could give some boost to EUR crosses north (watching EA and EN)
EUR Monetary Policy Statement
EUR ECB Press Conference It is Draghi's last meeting. The ECB is widely expected to keep policy unchanged and Draghi’s press conference is more likely to focus on his tenure at the central bank than on future policy, but would be nice to see some bounce on EA and EN to load some shorts
USD Core Durable Goods Orders m/m I don't think this is a mover, but is good to be aware. Projection is negative -0.2, previous 0.5
USD Flash Manufacturing PMI projection 50.7, previous 51.1. Watching UJ for shorts

Fri
EUR German Ifo Business Climate slight green is projected here 94.5, previous 94.6. Watching EA and EN for shorts

To sum up, watching EUR and CAD crosses (and maybe UJ) for opportunities

Let's pile the pips!
"In the end you only trade yourself."
  • #32,193
  • Edited 6:43pm Oct 20, 2019 6:22pm | Edited 6:43pm
Lets see how MM will push prices.So far its understandably static due to not enough liquidiy
Love to see AN NC drop
Still short on EA

I am glad and happy actually this thread got quite. By elevating to yellow and higher cut lot of noise.
In trading, you have to be defensive and aggressive at the same time
  • #32,194
  • Oct 20, 2019 9:22pm Oct 20, 2019 9:22pm
Inserted Video

Anastasia Parker, Prelude in E minor, Op.28, No.4 , Frederic Chopin
In trading, you have to be defensive and aggressive at the same time
  • #32,195
  • Oct 21, 2019 5:01am Oct 21, 2019 5:01am
Closed EA nice gain
may reload should it spike up
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In trading, you have to be defensive and aggressive at the same time
  • #32,196
  • Oct 21, 2019 8:08am Oct 21, 2019 8:08am
Potentially volatile economic events taking place this week. take them into consideration when trading.

Wednesday, 23rd October
• 00:45 – NZD – Trade Balance
Thursday, 24th October
• 14:45 – EUR – ECB Deposit Rate
• 14:45 – EUR – ECB Refinancing Rate
Friday, 25th October
• 18:00 – CAD – Budget Balance
Plan your trade and Trade your plan.
  • #32,197
  • Oct 21, 2019 9:39am Oct 21, 2019 9:39am
Some short term GC closed
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In trading, you have to be defensive and aggressive at the same time
  • #32,198
  • Oct 21, 2019 9:44am Oct 21, 2019 9:44am
very likely G pairs may take little dive after London close after 11am
In trading, you have to be defensive and aggressive at the same time
  • #32,199
  • Oct 21, 2019 10:18am Oct 21, 2019 10:18am
closed 2nd go at it.Not bad almost 500 in 1hr
G pairs are in a range.As long as you are not holding on you should be able to get in and out. I like GC because least threatening in terms of ADR and dont like GU ATM
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In trading, you have to be defensive and aggressive at the same time
  • #32,200
  • Oct 21, 2019 10:24am Oct 21, 2019 10:24am
UC getting close to key Pivot. AS always does not mean auto buy.Watch PA
There should be consolidating candles to show support.Obviously lower then daily
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In trading, you have to be defensive and aggressive at the same time
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