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Pivot Trading

  • #32,381
  • Nov 2, 2019 2:20pm Nov 2, 2019 2:20pm
I am happy that I see phenomenal inspirational results and that's the testament of the system and environment of this thread.Its always been my goal to cultivate talented Traders because one elevates the game for others.
I never been big fan of open to anyone threads that get overrun by noobs and drown good content to oblivion. Its important to me that everything in life should be proportional to where you are in time and space and personal development.
Keep hammering trades!
In trading, you have to be defensive and aggressive at the same time
  • #32,382
  • Nov 2, 2019 2:25pm Nov 2, 2019 2:25pm
Quoting marcnathan88
Time to close this one first thing this coming Monday. +700 pips. This trade is only around 50 pips from first position. But more pips was made because of multiple positions. One of the best things I've learned in this strategy is that sometimes you don't need big moves to make a lot of pips. You can take advantage of small moves with multiple positions and make more pips than what a swing trade can give. {image} Edit: Look at where the price stopped before moving up? Touched the ADR low to the pip.
This has been one of the key cornerstones of this systemsince beginning.Keep hammeringtrades
In trading, you have to be defensive and aggressive at the same time
  • #32,383
  • Edited 4:51am Nov 3, 2019 4:27am | Edited 4:51am
Hi guys if you want to watch perhaps Best Amazon produced ever watch Jack Ryan
season 1 fantastic season 2 cant stop watching...
while you are drinking wine and watching your trades develop and time to kill
The shots,screen play,acting is on different level.Its the best thing I watched for long time.

Looking forward for new week of trading.Go over the calendar map out potential set ups.
AUD dominating Sun night and Monday-Watch 1st see how MM are pushing this selling or buying.Dont get in without this feel.You dont want to be opposite of train...standing up in front of the train waving hands...better get on board!!
Same goes for GBP Thurs.Could be very case of pomp and dump right after thurs data.
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In trading, you have to be defensive and aggressive at the same time
  • #32,384
  • Nov 3, 2019 8:45am Nov 3, 2019 8:45am
My personal opinions on the market in relation to the economic events this week.

Big impact events: RBA and BOE rate statements.
Background events: Trade War and Brexit

Cheers,
John
Attached File(s)
File Type: pdf Forex Calendar Events.pdf   63 KB | 409 downloads
Fortune favors the brave.
  • #32,385
  • Edited 1:04pm Nov 3, 2019 12:54pm | Edited 1:04pm
AUDUSD weekly chart looks great...a nice double bottom followed by a break of the neckline. I will be interested in buying AUD after the pullback. will that happen after rate news on Tue? a matter of patience. I'm totally bullish on both AUD and NZD..just waiting for this week's pivots to determine my areas of interest. Wish you all a great week full of pips!
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  • #32,386
  • Nov 3, 2019 1:08pm Nov 3, 2019 1:08pm
My Calendar events week one November

Sun
AUD Retail Sales m/m projection 0.4, if this prints red, will give some corrections on AUD pairs. Watching AC for shorts

Mon
ECB President Lagarde Speaks let's see what she will say
CNY Caixin Services PMI projection 51.5, previous 51.3, recent data came slight red, if red, could give some small corrections on AUD and NZD pairs

Tues
AUD RBA Rate Statement I am looking for a more positive outlook due positive developments on US-China negotiations, also recent data steady from employment and unemployment. Let's see!
AUD Cash Rate market expects to be unchanged at 0.75%
CAD Trade Balance
NZD GDT Price Index if negative could give some boost on NC south
USD ISM Non-Manufacturing PMI projection 53.5, previous 52.6, recent data came very red, if continues, expect some decline for USD
NZD Employment Change q/q projection 0.2%, previous 0.8%
NZD Unemployment Rate projection is negative 4.1%, previous 3.9%, if confirmed, expecting some drop on NZD pairs. Watching NC for shorts

Weds
CAD Ivey PMI projection positive 49.3, previous 48.7. Watching NC and EC for shorts
USD Crude Oil Inventories red here is positive for CAD
AUD Trade Balance

Thurs
EUR German Industrial Production m/m projection here is negative -0.3, watching EC for shorts if data comes red
EUR EU Economic Forecasts
GBP BoE Inflation Report
GBP Official Bank Rate market expects to be unchanged at 0.75%
GBP BoE Gov. Carney Speaks
AUD RBA Monetary Policy Statement

Fri
CAD Employment Change recent labor market numbers came very green, if data continues to improve, expect some gain on CAD. Watching AC and EC for shorts
CAD Unemployment Rate
CNY CPI y/y green here is good for AUD and NZD

To sum up: AUD, NZD and GBP in focus this week!
I personally don't trade GBP, I will be looking to short AC, NC and EC.

Let's pile the pips!
"In the end you only trade yourself."
  • #32,387
  • Nov 3, 2019 1:29pm Nov 3, 2019 1:29pm
Quoting Halfcents
AUDUSD weekly chart looks great...a nice double bottom followed by a break of the neckline. I will be interested in buying AUD after the pullback. will that happen after rate news on Tue? a matter of patience. I'm totally bullish on both AUD and NZD..just waiting for this week's pivots to determine my areas of interest. Wish you all a great week full of pips! {image} {image}
Hi halfcents in my point of wiev with data expected i see picture like these:
01:30 AUDRetail Sales (MoM) (Sep) 0.5%0.4% these gona give some fuel to AUD to reach R61;
04:30 AUD RBA Interest Rate Decision (Nov) 0.75% 0.75% but tuesday if interes rate decision gona stay as it is, gona make AUD to fail like a rock!
anyway these is just my point of wiev
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  • #32,388
  • Nov 3, 2019 1:33pm Nov 3, 2019 1:33pm
Quoting mizi123
{quote} Hi halfcents in my point of wiev with data expected i see picture like these: 01:30 AUDRetail Sales (MoM) (Sep) 0.5%0.4% these gona give some fuel to AUD to reach R61; 04:30 AUD RBA Interest Rate Decision (Nov) 0.75% 0.75% but tuesday if interes rate decision gona stay as it is, gona make AUD to fail like a rock! anyway these is just my point of wiev {image}
I agree, let the MM give us direction. If they pump AUD to R61 before rate news, i'm ganna sell the correction
.
  • #32,389
  • Nov 3, 2019 1:38pm Nov 3, 2019 1:38pm
Quoting Halfcents
{quote} I agree, let the MM give us direction. If they pump AUD to R61 before rate news, i'm ganna sell the correction .
I expect the same scenario like USD/CAD on previous week to happend again here
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  • #32,390
  • Edited 1:59pm Nov 3, 2019 1:49pm | Edited 1:59pm
Very nice guys keep brainstorming but also allow flexibility to see what price does in reality.By brainstorming you are gearing up mentally to be in sink with the market.Does not matter if what you are brainstorming now is correct or not what's important that you are involved and that's the difference in almost all successful traders they are acutely aware of the market.

What I find not helpful guys getting all fired up about trend lines, BS support Resistance levels, candle colors, and almost all technical crap where 95% lose money.I rarely if ever read one of these traders ever say "We got red news Tues at 7pm" instead you will read PA trend line up red candle bla bla bla where you just want to wack the guy on the head and say wake up from your stupor and look at the market as IS.Its alive and events happening and you got to be in IT not stuck on chart technical mental gymnastics
Takes time but experience guys know what I am talking about.
In trading, you have to be defensive and aggressive at the same time
  • #32,391
  • Nov 3, 2019 2:09pm Nov 3, 2019 2:09pm
Quoting r61
My Calendar events week one November Sun AUD Retail Sales m/m projection 0.4, if this prints red, will give some corrections on AUD pairs. Watching AC for shorts Mon ECB President Lagarde Speaks let's see what she will say CNY Caixin Services PMI projection 51.5, previous 51.3, recent data came slight red, if red, could give some small corrections on AUD and NZD pairs Tues AUD RBA Rate Statement I am looking for a more positive outlook due positive developments on US-China negotiations, also recent data steady from employment and unemployment. Let's...
You are putting good work and shows equity gain of 20% last month.! Keep it up. Very nice. Sometimes its as simple as do what I share here.Follow the system and you do.
In trading, you have to be defensive and aggressive at the same time
  • #32,392
  • Nov 3, 2019 2:10pm Nov 3, 2019 2:10pm
Quoting r61
{quote} Hi Davit, done here too. Building the account like it's on steroids this month. Hit 20.5% {image} Below Week and October {image} {image} Let's pile the pips!
In trading, you have to be defensive and aggressive at the same time
  • #32,393
  • Nov 3, 2019 7:58pm Nov 3, 2019 7:58pm
worth tracking this AN
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In trading, you have to be defensive and aggressive at the same time
  • #32,394
  • Nov 3, 2019 11:34pm Nov 3, 2019 11:34pm
Gartley on AU on a one hour chart, and a daily and weekly chart. I agree with Davit on this one has good long term potential. So here's some possible retracement levels before a big potential push upwards. If you're not in you can't win. Just for an example in my account which is leveraged 33-1 if I put one order in for one 10K lot with a hail mary stop loss at .66 if it went all the way down and hit it I'd lose $300 If it heads back up to.75 I'm in the money for a $600 gain. I think you have to look at the big picture scenario here also remember when stocks weaken commodities tend to rally and the AUD is a com doll.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #32,395
  • Nov 4, 2019 3:47am Nov 4, 2019 3:47am
Did not take any trades yet.Better be flat then force a trade. Do want GC to get pushed higher 7065-71 would be nice and then maybe start selling it
Daily clearly has room to go up specially with key data release on Thurs.So plenty of time to get pushed high.
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In trading, you have to be defensive and aggressive at the same time
  • #32,396
  • Nov 4, 2019 3:53am Nov 4, 2019 3:53am
Tracking UC as well
In trading, you have to be defensive and aggressive at the same time
  • #32,397
  • Nov 4, 2019 4:01am Nov 4, 2019 4:01am
AUD Governor Philip Lowe suggest the Bank is in no hurry to lower rates again. Quarterly inflation data released this week did little to add pressure on the RBA to ease again and so the AUD stands to extend its recent gains if the Bank seemingly rules out another near term cut.

EUR Looking at the data, business surveys will start the week, with the final October print of the manufacturing PMI out on Monday along with the November Sentix Index, followed by the final services PMI on Wednesday. Eurozone retail sales are also due on Wednesday. German numbers may attract more interest given the growing worries of a recession in the country.

GBP The Bank of England’s policy decision on Thursday will be the main event and could prove to be the Bank’s most important meeting for some time.Bank may be forced to cut interest rates even if lawmakers were to approve a Brexit deal as the ongoing political uncertainty, not to mention the long drawn-out trade war and the resultant global slowdown, weigh heavily on the British economy.

CAD The Bank of Canada surprised everyone by flagging a possible rate cut at its policy meeting this past week. Loonie is more likely to react to negative data than positive ones in the coming weeks, including the October employment report due on Friday.

NZD One crucial piece of the jigsaw for the RBNZ will be Wednesday’s quarterly employment numbers. The unemployment rate is projected to have ticked higher to 4.1% in the third quarter and for jobs growth to have moderated to 0.3% from 0.8% over the quarter.

JPY are unlikely to stir much of a response in the Yen but will be watched to determine how long the Bank of Japan will be able to stay on the sidelines.
Plan your trade and Trade your plan.
  • #32,398
  • Nov 4, 2019 4:21am Nov 4, 2019 4:21am
Its funny but I actually do want massive moves or spikes to disrupt the market and that creating trading opportunity.Hate mundane days.So far its a snooze
In trading, you have to be defensive and aggressive at the same time
  • #32,399
  • Nov 4, 2019 5:03am Nov 4, 2019 5:03am
Quoting Davit
Its funny but I actually do want massive moves or spikes to disrupt the market and that creating trading opportunity.Hate mundane days.So far its a snooze
I agree...Monday is almost always lame. I made some scalps here and there...pure PA with rejections at daily open...got 300 USD so far. Let's see if the day will bring in some more cash.
  • #32,400
  • Nov 4, 2019 6:20am Nov 4, 2019 6:20am
Here's a little scalp an USD/CAD to pass the boredom...failure at 38% retracement of previous big down move. Still short with 9 lots on my live account
Done for the day!
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