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Pivot Trading

  • #33,841
  • Jan 15, 2020 12:28am Jan 15, 2020 12:28am
Closed second batch on AN. Waiting to reload again
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Give me a lever long enough and a place to stand, and I will move the Earth
  • #33,842
  • Jan 15, 2020 1:10am Jan 15, 2020 1:10am
German Full Year GDP (2019) 0.6% vs. Exp. 0.6% (Prev. 1.5%)
2019 public sector budget surplus 1.5% of GDP vs. Prev. 1.9%
The weakest rate for 6-years
  • #33,843
  • Jan 15, 2020 1:19am Jan 15, 2020 1:19am
Quoting ppxdf
{image} {image}
BoE's Saunders (Dove, Dissenter) says:

it will probably be appropriate to maintain an expansionary monetary policy stance, and possibly cut rates further.

=> In order to reduce risks of a sustained undershoot of the 2% inflation target. With limited monetary policy space, risk management considerations favour a relatively prompt and aggressive response to downside risks at present
=> Most likely outlook is a further period of subdued growth, and hence a disinflationary backdrop of a persistent – albeit modest – output gap
=> Neutral level of interest rates may have fallen further over the last year or two, both in the UK and externally
=> But my own view is that, even if the economy improves slightly from the recent pace, risks for the next year or two are on the side of a more protracted period of sluggish growth than the MPR forecast
  • #33,844
  • Jan 15, 2020 6:08am Jan 15, 2020 6:08am
Some EN shorts, Pivots and confluences ...
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Trade What's Happening... Not What You Think Is Gonna Happen
  • #33,845
  • Jan 15, 2020 6:21am Jan 15, 2020 6:21am
Quoting ToddyS2K
Some EN shorts, Pivots and confluences ... {image}
I feel this has more potential for longs at the moment. H4 Cup and Handle. Just my 2 cents
  • #33,846
  • Jan 15, 2020 6:37am Jan 15, 2020 6:37am
Quoting RieseP
{quote} I feel this has more potential for longs at the moment. H4 Cup and Handle. Just my 2 cents
Take a look NU... also was in a good support Pivots + Confluences (correlation). Just my 600$ of profit
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Trade What's Happening... Not What You Think Is Gonna Happen
  • #33,847
  • Edited 8:44pm Jan 15, 2020 11:53am | Edited 8:44pm
Interesting story, the big money would prefer to do nothing but take our money, and they'll stop at no lengths to do so. The story kind of reminds me of Les Miserables a little.


https://getpocket.com/explore/item/t...=pocket-newtab
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #33,848
  • Jan 15, 2020 8:55pm Jan 15, 2020 8:55pm
Hi Guys be ready for ECB tomorrow.Could be good mover for the Euro pairs creating opportunities.
In trading, you have to be defensive and aggressive at the same time
  • #33,849
  • Jan 15, 2020 9:10pm Jan 15, 2020 9:10pm
Quoting ppxdf
{image}{image}
Thnx PPXDF. Since we don't have access to the platform you're using, can you please tell us how those upper & lower limits (green & red lines) are calculated? I mean is it automatic (by the software) or manual (surveys etc).
  • #33,850
  • Edited 9:49pm Jan 15, 2020 9:15pm | Edited 9:49pm
Pairs i will be monitoring....EUR could move after ECB
AUDNZD expecting a range
EURJPY struggling to go past R100
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  • #33,851
  • Jan 15, 2020 9:47pm Jan 15, 2020 9:47pm
I was a little overexposed on the EUR. Closed out some trades before ECB announcement and will reload if it makes sense.
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  • #33,852
  • Jan 15, 2020 11:14pm Jan 15, 2020 11:14pm
hey guys, i'm on vacation and the wife won't let me anywhere near a screen, hope to be back soon trading this amazing system with you.
Capital preservation, live to trade another day
  • #33,853
  • Jan 16, 2020 1:15am Jan 16, 2020 1:15am
Hey friends,

may I kindly ask you for an advise? I´m in now with EURJPY with 2 sell orders. Reasons why I sold:

- Pivot Position above R61
- Price Action was very nice at R78, bounced often from that area
- 123.00 seems to be a very strong resistance
- Weekly time frame we are at Resistance in an declining Channel
- Neutral and Positive news for JPY (Core Machinery Orders, BOJ Gov Kuroda Speach was quite enthusiastic...)
- less positiv economics than expected in the EU zone (industrial production, trade balance, German WPI...)

see pictures below.

Now I´m with -5% in total in negativ with this two trades.

I could close my trades now at worst position and wait until ECB Monetary Policy Meeting Accounts for reload again (but with loss, when after news). Or I could hold the position and see what happens after news and deside than.

Its no big deal, because I will not lose my small account, so I´m very relaxed. But I´m wondering what would be now a wise decision...
What are your experience in this scenarios?

Thank you
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  • #33,854
  • Jan 16, 2020 1:41am Jan 16, 2020 1:41am
Quoting kleybenny
Hey friends, may I kindly ask you for an advise? I´m in now with EURJPY with 2 sell orders. Reasons why I sold: - Pivot Position above R61 - Price Action was very nice at R78, bounced often from that area - 123.00 seems to be a very strong resistance - Weekly time frame we are at Resistance in an declining Channel - Neutral and Positive news for JPY (Core Machinery Orders, BOJ Gov Kuroda Speach was quite enthusiastic...) - less positiv economics than expected in the EU zone (industrial production, trade balance, German WPI...) see pictures below....
Before entering a trade, every trader must already have an exit plan (and cannot ask for help from home ). The decision you need to make is yours. From my personal point of view, risking 5% in just 50pips seems like a lot. JPY is weak these days due to the agreement on tariffs reached and a spike north of the EU can also be seen tonight. Given the risk of going long on the JPY, I have already closed my short trade on EJ some time ago
Trade What's Happening... Not What You Think Is Gonna Happen
  • #33,855
  • Jan 16, 2020 1:57am Jan 16, 2020 1:57am
Quoting kleybenny
Hey friends, may I kindly ask you for an advise? I´m in now with EURJPY with 2 sell orders. Reasons why I sold: - Pivot Position above R61 - Price Action was very nice at R78, bounced often from that area - 123.00 seems to be a very strong resistance - Weekly time frame we are at Resistance in an declining Channel - Neutral and Positive news for JPY (Core Machinery Orders, BOJ Gov Kuroda Speach was quite enthusiastic...) - less positiv economics than expected in the EU zone (industrial production, trade balance, German WPI...) see pictures below....
I have the same opinion of Toddy. Anyway the fact that you have already 5% of DD is because your account is small, so you have to do your evaluations.
However, watching only the technical side, it seems that they are clearing the stops so it could go down soon, but on the fundamental side there is the ECB Monetary Policy and the trade deal of these days that could give more weakness to JPY.
Give me a lever long enough and a place to stand, and I will move the Earth
  • #33,856
  • Jan 16, 2020 2:08am Jan 16, 2020 2:08am
Quoting kleybenny
Hey friends, may I kindly ask you for an advise? I´m in now with EURJPY with 2 sell orders. Reasons why I sold: - Pivot Position above R61 - Price Action was very nice at R78, bounced often from that area - 123.00 seems to be a very strong resistance - Weekly time frame we are at Resistance in an declining Channel - Neutral and Positive news for JPY (Core Machinery Orders, BOJ Gov Kuroda Speach was quite enthusiastic...) - less positiv economics than expected in the EU zone (industrial production, trade balance, German WPI...) see pictures below....
When you do your calendar you should highlight big events like ECB and plan ahead course of action that is appropriate.
A sell pairs that are relatively stronger then Euro (short EA EN EC) and avoid weak Yen.That should of been obvious.
Work on your calendar I can sense people who do and people either dont or dont understand importance of it to do it.If you are trading my system you must do..its part of the core system.
Having said above R100 has not breached yet and PA suggesting maybe topping out hence hold for now!If you survive situations like this consider you just added another skin on mental aspect of trading .
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In trading, you have to be defensive and aggressive at the same time
  • #33,857
  • Jan 16, 2020 2:20am Jan 16, 2020 2:20am
Quoting RieseP
{quote} I feel this has more potential for longs at the moment. H4 Cup and Handle. Just my 2 cents
Please refrain advising anyone! specially "cup and handle" This is kind of baggage you should leave at the door before coming here but worse actually advising someone on it!
Shorting EN was solid trade.
In trading, you have to be defensive and aggressive at the same time
  • #33,858
  • Jan 16, 2020 3:01am Jan 16, 2020 3:01am
Quoting Davit
{quote} When you do your calendar you should highlight big events like ECB and plan ahead course of action that is appropriate. A sell pairs that are relatively stronger then Euro (short EA EN EC) and avoid weak Yen.That should of been obvious. Work on your calendar I can sense people who do and people either dont or dont understand importance of it to do it.If you are trading my system you must do..its part of the core system. Having said above R100 has not breached yet and PA suggesting maybe topping out hence hold for now!If you survive situations...
Thank you Davit. The calendar events are truly my biggest problem. At least to understand them. I have done a calendar, but in the end I deleted it again, because it was more a mess and it was not better than the calendar here on Forexfactory. I need to find a way to better judge the events, and understand them.. I will work on that. Thank you for the advise. For next week I will post my calendar here, even when its not a good one, but maybe I can learn from that...

Quoting artestine
{quote} I have the same opinion of Toddy. Anyway the fact that you have already 5% of DD is because your account is small, so you have to do your evaluations. However, watching only the technical side, it seems that they are clearing the stops so it could go down soon, but on the fundamental side there is the ECB Monetary Policy and the trade deal of these days that could give more weakness to JPY.
Thank you artestine for your feedback. yes, thats true, my account is very small, so I risk much more than usual, but I´m fine with that at the moment. When this account grows, I will reduce my risk significantly. I have the same feeling, they clearing tops. thats why I´m still in and because it didn´t break R100 as Davit explained.

Quoting ToddyS2K
{quote} Before entering a trade, every trader must already have an exit plan (and cannot ask for help from home ). The decision you need to make is yours. From my personal point of view, risking 5% in just 50pips seems like a lot. JPY is weak these days due to the agreement on tariffs reached and a spike north of the EU can also be seen tonight. Given the risk of going long on the JPY, I have already closed my short trade on EJ some time ago
Thank you Toddy too for your feedback. I have a exit plan, it was not my intention to get help what I should do. I only wanted to hear your experience. the 5 % risk is heavy, thats true, but its a small account and I can live with that. You are absolutely right. JPY is wek these days. I judged it wrong. I think I need to work further on interpreting fundamentals . But anyway, thank you for your feedback!
  • #33,859
  • Jan 16, 2020 3:23am Jan 16, 2020 3:23am
Quoting kleybenny
{quote} Thank you Davit. The calendar events are truly my biggest problem. At least to understand them. I have done a calendar, but in the end I deleted it again, because it was more a mess and it was not better than the calendar here on Forexfactory. I need to find a way to better judge the events, and understand them.. I will work on that. Thank you for the advise. For next week I will post my calendar here, even when its not a good one, but maybe I can learn from that... {quote} Thank you artestine for your feedback. yes, thats true, my account...
My advise for the calendar events is to try, try and try again. In the beginning all of us have problems but with a lot of practice you can master anything.
If you see my first attempts to do the calendar you will laugh a lot. But now I have a completely different level (always far away to really good of course, but step by step...).

Do them every week and you will see improvements soon
Give me a lever long enough and a place to stand, and I will move the Earth
  • #33,860
  • Jan 16, 2020 3:24am Jan 16, 2020 3:24am
I like to expose these charlatans for other members.These individuals dont bother me! I have experienced lot of them but when they start a thread copying my ideas system but can't trade themselves then "buyer be aware" kind of post here.

Mike at Mindful Trading PV

Asked me to join at Pivot Trading and out of my generosity I allowed him even though he was not yellow member!
Within short time this individual displayed typical beginner mentality when I tried rather subtly to correct him this guy went from "nice" guy to asshole no time.
Went beginner trader to an expert in 20days and starts a thread basically copying my system attracting unsuspected!
What is astonishing to me how people are willing to follow anyone without slightest inquire like how long have you been trading, how long have you been trading your system...In this case "system" is Pivot Trading" minus the intelligence of it....

The other two idiots! Adrazz asked me repeatedly to join here but lacked credentials which I clearly outlined on 1st page but kept asking again and again and I hate guys who can't follow instruction which means terrible characteristic to have as trader.If you can't read simple request you can't trade because both are related about being able to pay attention.

Spamming hate about me just pathetic.I am supposed to have 2 Jobs He is wrong I have 5!

The other moron JarFX05 joined here and could not follow direction not adding indicators and after a warning got kicked out for refusing to comply.Why is he bitter hateful idiot now? My guess is he was robbed from making money because true Pivot Traders here make good money! He knows it why so bitter.His posts are comical.Looks at the chart and says "where are the Pivots Chart shows R161 R200 !!!! That's kind of idiots I deal with here who can't even look but comment on others!
Bottom line buyer be aware!Essence of my post!

I can tell you guys more successful you become more haters you will attract!Its just human nature jealously is powerful.
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In trading, you have to be defensive and aggressive at the same time
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