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Pivot Trading

  • #32,781
  • Nov 19, 2019 8:37pm Nov 19, 2019 8:37pm
Quoting Swede
Seven attempts hourly this week to break R38....this mornings engulphing candle made a statement, then one more attempt...pretty much forced me to go short...if I am seeing this correctly..... {image}

Target reached...because of the way this cross trades, I did adjust my target up 5 pips to allow some room to get filled just over the weekly pivot...anyway it worked out and happy to be out for now with a nice clean trade with no draw down whatsoever (accept for maybe 1 pip on yet another test) I might add....love trading pivot levels from extreme locations in ranging locations...
Attached Image (click to enlarge)
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  • #32,782
  • Nov 19, 2019 11:55pm Nov 19, 2019 11:55pm
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts | Online Now
Do we see a stronger $ before FOMC Meeting minutes today?
We obey the structure that results from the market's reaction
  • #32,783
  • Nov 20, 2019 2:47am Nov 20, 2019 2:47am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts | Online Now
My biggest position yet, NZDUSD
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM30.1.png Size: 121 KB
We obey the structure that results from the market's reaction
  • #32,784
  • Nov 20, 2019 4:06am Nov 20, 2019 4:06am
Quoting Egbert
My biggest position yet, NZDUSD {image}

NZD might end this week and maybe this month stronger
  • #32,785
  • Nov 20, 2019 4:31am Nov 20, 2019 4:31am
https://oilprice.com/Energy/Oil-Pric...-Markets.html#
  • #32,786
  • Nov 20, 2019 4:39am Nov 20, 2019 4:39am
Quoting ppxdf
https://oilprice.com/Energy/Oil-Pric...-Markets.html#
These exagerate sells on CAD don't seems correlated to much with Oil... MM seems to have more appetite. Belts always well fastened and ready to handle this DD . I'm shorting UC, EC, GC and small NC

Waiting to jump long CJ, AZ
Trade What's Happening... Not What You Think Is Gonna Happen
  • #32,787
  • Edited 4:59am Nov 20, 2019 4:47am | Edited 4:59am
Quoting ToddyS2K
{quote} These exagerate sells on CAD don't seems correlated to much with Oil... MM seems to have more appetite. Belts always well fastened and ready to handle this DD . I'm shorting UC, EC, GC and small NC

probably because that yesterday's talk that they might cut the interest rate of 1.75% to something lower on Dec 4th
So the market already considers this possibility the CAD weakens on increased BoC rate cut chances
that might the reason for this volatility
Lets see the CPI in few moments.
  • #32,788
  • Nov 20, 2019 5:53am Nov 20, 2019 5:53am
Quoting ppxdf
{quote} probably because that yesterday's talk that they might cut the interest rate of 1.75% to something lower on Dec 4th So the market already considers this possibility the CAD weakens on increased BoC rate cut chances that might the reason for this volatility Lets see the CPI in few moments.
I'm struggling in DD with my GC short while I made profits on shorting pound on GA and EG.

CPI and EIA later today can change the game a bit, I agree that increased chances of a soon rate cut weigh on CAD.
Porta itineris dicitur longissima esse
  • #32,789
  • Nov 20, 2019 6:06am Nov 20, 2019 6:06am
i am in DD ALSO.
but I will sell EC now
  • #32,790
  • Nov 20, 2019 7:38am Nov 20, 2019 7:38am
good figures
Attached Image (click to enlarge)
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  • #32,791
  • Nov 20, 2019 7:48am Nov 20, 2019 7:48am
Quoting Halfcents
good figures {image}
yes,

usd: CPI m / m 0.4% 0.3% 0.0%

cad CPI m / m 0.3% 0.3% -0.4%

that is similar USD and CAD.


I think it reduces this CAD feeling of rate cuts if compared to USD, (both same rate 1,75%)). AND also what said Jerome Powell BELOW
we need to hear our master Davit



Wed Nov 20


14:00 USD FOMC Meeting Minutes


FOMC Meeting Minutes: Last Decision FED cut rates but signaled a pause. Jerome Powell, later indicated some chance to higher than cutting them. The minutes will provide a closer look at the tendency among central bankers and Fed’s thoughts on trade relations, inflation, and employment are of interest.
  • #32,792
  • Nov 20, 2019 8:12am Nov 20, 2019 8:12am
On USDCAD again after taking some loses yesterday
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  • #32,793
  • Nov 20, 2019 9:54am Nov 20, 2019 9:54am
MM's just cleared all the day traders stops on the retail shorts from the news...now is the time to enter EC imho
.....just opinion
  • #32,794
  • Nov 20, 2019 12:44pm Nov 20, 2019 12:44pm
Quoting Swede
MM's just cleared all the day traders stops on the retail shorts from the news...now is the time to enter EC imho .....just opinion
I should keep my opinion to myself, which I normally do....was pretty sure of this one and that stop above 161 pivot should hold...which it did not....Loss -17 pips....
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  • #32,795
  • Nov 20, 2019 8:48pm Nov 20, 2019 8:48pm
NJ has been up and down like crazy. Entered at R38 2x already this week and exited at WP. Might enter again if the price reaches R38 and market context permits.
Fortune favors the brave.
  • #32,796
  • Nov 21, 2019 12:13am Nov 21, 2019 12:13am
Quoting mngnglkl
NJ has been up and down like crazy. Entered at R38 2x already this week and exited at WP. Might enter again if the price reaches R38 and market context permits.
I was observing the same.
Attached Image (click to enlarge)
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Porta itineris dicitur longissima esse
  • #32,797
  • Nov 21, 2019 12:16am Nov 21, 2019 12:16am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts | Online Now
Quoting bubincka
{quote} I was observing the same. {image}
Got some nice pips from the up move.
Attached Image (click to enlarge)
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We obey the structure that results from the market's reaction
  • #32,798
  • Nov 21, 2019 1:18am Nov 21, 2019 1:18am
Quoting Egbert
{quote} Got some nice pips from the up move. {image}
Definitely can enter either way, but Im just more confident on shorting at the top since resistance line is more defined there for me. Negative news on the trade deal also impacts immediately.
Fortune favors the brave.
  • #32,799
  • Nov 21, 2019 1:32am Nov 21, 2019 1:32am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts | Online Now
Quoting mngnglkl
{quote} Definitely can enter either way, but Im just more confident on shorting at the top since resistance line is more defined there for me. Negative news on the trade deal also impacts immediately.
Taking it down now again. BIG Rejection candle from daily open line.
Attached Image (click to enlarge)
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We obey the structure that results from the market's reaction
  • #32,800
  • Nov 21, 2019 2:48am Nov 21, 2019 2:48am
Currently there are many possible setup on EC, UC, NC to name a few, however I've margin trapped in GC short that isn't going well.
Fundamental data on CAD was good so probably won't be any rate cut but what really matters is positive news on trade deal impacting oil price.
Porta itineris dicitur longissima esse
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