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Pivot Trading

  • #33,821
  • Edited 4:22pm Jan 13, 2020 3:39pm | Edited 4:22pm
Quoting Davit
Just for giggles In 24hrs Went from "I trade similar to Davit Pivot trading to It has nothing to do with pivots and yet uses my template and shares PDF's from this thread(Irony of it all) Only posting this as a reminder to folks out there Don't take lessons on bicycle riding from a guy who still has training wheels attached. Got kicked out of here for being rude obnoxious because he could not take constructive criticism of holding a position when Exited EA around 6180 I was adding more shorts.Tells everyone about his "kindness" when here the guy...
That whole thread is garbage. A point of reference....that's not needed? ¯\_(ツ)_/¯

Quoting MikiMax
{quote} Mizi, Kind request to look again at post #1. I did put a minor change, i.e. WE DO NOT NEED PIVOTS HERE. It is just our point of reference. If you follow strictly the way of conduct i.e. Exactly starting from point 1 until point 5 you WILL experience fenomenal change. My approach has nothing to do with Davit's, you can easily drop pivots, no big deal. Try to put an effort first for a certain period of time, then share your experience, otherwise you waste your time here. Thank You.
Group hugs and chakras isn't going to add to ones equity curve. Its not rocket science, it's proper trade execution and trade management.
Trade with confidence, trade without fear.
  • #33,822
  • Jan 13, 2020 5:56pm Jan 13, 2020 5:56pm
Fundamental side
Guys, let's take a look at some of the NZD data for the last month:

Consumer Confidence (Q4): 109.9 (highest in 6 quarters)
Business Confidence (DEC) : -13.2 (highest in 13 months)
Global Dairy Trade Price Index: -5.1% (highest in 4 months)
GDP Growth Rate QoQ Q3: 0.7% (above 13 months average and highest in 3 quarters)
GDP Growth Rate YoY Q3: 2.3% (not good but still better than previous quarters)
Balance of Trade NOV: N$-753M (highest in 5 months and going up for the fourth month in a row)

Technical side
Take a look at NZDUSD below. It's approaching our beloved S61.8. Next data to be released is Business PMI on Friday 07:30 A.M (Australia time). Consensus is 50.6; but any non-disappointing figure along that line will provide good excuse (at least for me ) to go long.

Let us know what you think ...

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  • #33,823
  • Jan 13, 2020 6:13pm Jan 13, 2020 6:13pm
Another thought:

UJ is over-extended and approaching our beloved R61.8 zone. We won't forget the following two facts about USD:

  1. FED has already indicated they're happy with current rates (So CPI is not overly important)
  2. At least for the time being, no geopolitical shit is in sight. US-Iran are "all good" (Trump says) and US-China are moving towards better days.

This provides good case, PA permitting , to stay in hiding for a beautiful UJ short.

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  • #33,824
  • Jan 13, 2020 8:27pm Jan 13, 2020 8:27pm
Quoting finally-2020
Another thought: UJ is over-extended and approaching our beloved R61.8 zone. We won't forget the following two facts about USD: FED has already indicated they're happy with current rates (So CPI is not overly important) At least for the time being, no geopolitical shit is in sight. US-Iran are "all good" (Trump says) and US-China are moving towards better days. This provides good case, PA permitting , to stay in hiding for a beautiful UJ short. {image}
IMO you would be better off shorting EJ. It is already at R78, much less negative swap and has a similar price structure as UJ.
  • #33,825
  • Edited Jan 14, 2020 8:02am Jan 13, 2020 8:28pm | Edited Jan 14, 2020 8:02am
after tomorrow we have the fase one signed.
At present, there are two major drivers of USD, the FOMC's monetary policy outlook and the US/China trade war outlook. The FOMC are now on hold, with policy members signalling no expected change to monetary policy through 2020 followed by a hike in 2021, according to their December dot plot. The Fed's expected rate path is at odds with the market; however, as futures markets currently place a 54.3% probability of a 25bp rate cut over the next 12-months. Regrading the US/China trade war, the outlook has notably improved following the conclusion and agreement of their phase one trade deal negotiations. China's Vice Premier Liu He is expected to sign the deal after tomorrow in Washington

below we have economic event CPI m/m
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  • #33,826
  • Jan 13, 2020 8:40pm Jan 13, 2020 8:40pm
Pending Crab on CJ H4 Pending Deep Crab on EJ H4
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #33,827
  • Jan 13, 2020 8:45pm Jan 13, 2020 8:45pm
i will start loading my EA shorts from 6167, i consider the pivot levels for next week.
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  • #33,828
  • Jan 13, 2020 8:48pm Jan 13, 2020 8:48pm
Quoting ikdenk
{quote} IMO you would be better off shorting EJ. It is already at R78, much less negative swap and has a similar price structure as UJ.
We're supposed to do Pivots & Fundamentals & Price Action.
  • #33,829
  • Jan 13, 2020 8:55pm Jan 13, 2020 8:55pm
Quoting ppxdf
i will start loading my EA shorts from 6167, i consider the pivot levels for next week. {image}
My penny: It's still Tuesday; too early to judge about next week's pivots. Am I wrong?
  • #33,830
  • Jan 13, 2020 9:39pm Jan 13, 2020 9:39pm
Quoting Davit
Just for giggles In 24hrs Went from "I trade similar to Davit Pivot trading to It has nothing to do with pivots and yet uses my template and shares PDF's from this thread(Irony of it all) Only posting this as a reminder to folks out there Don't take lessons on bicycle riding from a guy who still has training wheels attached. Got kicked out of here for being rude obnoxious because he could not take constructive criticism of holding a position when Exited EA around 6180 I was adding more shorts.Tells everyone about his "kindness" when here the guy...

when I challenged what he was doing, he was not very KIND in his reply....now i'm hurt...lol lol haAAAAA!!
  • #33,831
  • Jan 13, 2020 9:48pm Jan 13, 2020 9:48pm
Quoting finally-2020
{quote} My penny: It's still Tuesday; too early to judge about next week's pivots. Am I wrong?
NO, you are right.
I have around 30 pips so far, but prices might bounce to ADR high before drop. Follow your ideas and ideas of your Subscriptions. that might be more safe for you.
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  • #33,832
  • Jan 14, 2020 1:56am Jan 14, 2020 1:56am
Starting EA shorts
  • #33,833
  • Jan 14, 2020 2:31am Jan 14, 2020 2:31am
Some pips are coming... EJ
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Trade What's Happening... Not What You Think Is Gonna Happen
  • #33,834
  • Jan 14, 2020 2:48am Jan 14, 2020 2:48am
I have received different PMs about how did I achieve those results that I put on my last post, so I will reply here once and for all, and please stop asking me this question.

You need hard work, dedication and discipline. You have tons of resources here in this thread and you have your charts to study. So, if you are not good enough start to read the entire thread and you will find gems that you won't find in any course or also online. Open your charts and study price action. Start to read the books in the PDFs and change your attitude.
If you think that all the best traders here didn't have to do the hard work to achieve their current level you are completely wrong.

Until you are lazy and you post stupid questions and stupid comments because you got a pair of winning trades (thing that everyone can do, also a novice trader, like Mark Douglas said) you will never succeed.
Consistency is everything.
Give me a lever long enough and a place to stand, and I will move the Earth
  • #33,835
  • Jan 14, 2020 5:45am Jan 14, 2020 5:45am
Long GC. PA and pivots in other GBP pairs
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Trade What's Happening... Not What You Think Is Gonna Happen
  • #33,836
  • Jan 14, 2020 8:10am Jan 14, 2020 8:10am
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  • #33,837
  • Jan 14, 2020 12:04pm Jan 14, 2020 12:04pm
I am out of AC with minor gain.May reload once drops below 90
Could not break R38
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In trading, you have to be defensive and aggressive at the same time
  • #33,838
  • Jan 14, 2020 2:03pm Jan 14, 2020 2:03pm
Starting to sell this one
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  • #33,839
  • Edited Jan 15, 2020 3:35am Jan 14, 2020 8:52pm | Edited Jan 15, 2020 3:35am
according to expected!!
  • #33,840
  • Jan 14, 2020 11:46pm Jan 14, 2020 11:46pm
Quoting Davit
I am out of AC with minor gain.May reload once drops below 90 Could not break R38 {image}
Me to with a whopping .90 cents after fees. Still better than a loss, I tapped out when it was going nowhere.
Fib Traders get it right 61.8% to 78.6% of the time. NR
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