Pivot Trading | Page 1707 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Open Trade near Pivot line (Pivot Point) 16 replies

Weekly Pivot to Pivot Trading 19 replies

The Pivot Net Revisited (Weekly Pivot Net) 41 replies

Help with daily pivot, weekly pivot on MT4 3 replies

Pivot high - Pivot low MT4 3 replies

Attachments: Pivot Trading
Exit Attachments

Pivot Trading

  • #34,121
  • Jan 27, 2020 12:36pm Jan 27, 2020 12:36pm
Quoting Gmo
USDJPY AUDJPY NZDJPY Sizable Gaps on these pairs! Oanda Live (Commission Account hence suffix -5) Prefer to Sell Rallies! Patience! {image}
Gmo, are you cracy???
  • #34,122
  • Edited 1:27pm Jan 27, 2020 1:12pm | Edited 1:27pm
Sometimes this market market is doubtful.
So I keep thinking. Would it be a "buy rumor sell fact" ??
What does 80 dead in a population of 1.4 billion mean?
Okay, the concern is with the spread. but I have my doubts here. lol
end of month, etc, etc. let's see if this coronavirus conversation continues next month.
think about that
https://on.mktw.net/2RUVYd7
  • #34,123
  • Jan 27, 2020 1:46pm Jan 27, 2020 1:46pm
Daily Low - S38.......? A/N
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB
  • #34,124
  • Jan 27, 2020 1:48pm Jan 27, 2020 1:48pm
Quoting ppxdf
Sometimes this market market is doubtful. So I keep thinking. Would it be a "buy rumor sell fact" ?? What does 80 dead in a population of 1.4 billion mean? Okay, the concern is with the spread. but I have my doubts here. lol end of month, etc, etc. let's see if this coronavirus conversation continues next month. think about that https://on.mktw.net/2RUVYd7
It's less about either. Actually it's about the fact that it's already affected one of the otherwise busiest weeks in the year. Chinese New Year usually provides an excellent opportunity for businesses in destination countries like AU and US. "Consumer Spending" will be affected in Jan etc. But this year we saw a bleak week

Corona + bushfire etc God bless Australia
  • #34,125
  • Jan 27, 2020 2:01pm Jan 27, 2020 2:01pm
Quoting GreenEarth
Quoting TerryDawe
It appears my pivot points are not accurate and not sure why. eg; my GU is showing different numbers between the pivot I am using and what is showing on the reference page. I am using Davits Pivot V3.2 Auto that is on my MT4 platform. Any ideas? Hi Terry Dawe , Just checked my WPP on my MT4 screen and it comes in @ 1.30647. Your screenshot is showing your WPP @ 1.30685. It's within 5 pips , thus , according to Davit's criteria , your chart is fine. I am trading in the Atlantic Time Zone , thus -4. I don't see a need to
...
Thanks GreenEarth

Regards
Terry
  • #34,126
  • Jan 27, 2020 2:48pm Jan 27, 2020 2:48pm
EA H1, UJ H1, EU H4
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EADPH1270120.png Size: 132 KB
Click to Enlarge Name: UJDPH1270120.png Size: 128 KB
Click to Enlarge Name: EUDPH4270120.png Size: 171 KB
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,127
  • Jan 27, 2020 2:52pm Jan 27, 2020 2:52pm
Quoting finally-2020
I got couple of PMs asking for my Pivot Points indi. Guys it's a very simple indi I wrote for myself, nothing special about it. If you see the lines shorter, you can change Davit's settings too, so it appears like mine. Anyways, with Davit's permission I'll attach it to this post in case you're still curious. Settings: You don't need to set anything. Just attach it and enjoy it. However, you can still choose to see or not to see daily open/high/low as well as round numbers. You can also choose to see next week's pivots based on the current week...
Thanks for sharing your indicator.

Looking at your charts, I see you have a very useful indicator showing Lot size and Value of each pip.

I think many people here would appreciate that as well or at least a hint on where to find it.

There is so much confusion about pip values, particularly because many accounts are in different deposit currencies.
  • #34,128
  • Jan 27, 2020 3:28pm Jan 27, 2020 3:28pm
I found a nice infographic (for the visuals among us ) on the website of the RBA, specially for the AUD.

Davit posted the key indicators before in his post:
Quoting Davit
What to look for on Fundamentals Economic Release...

Attached Image
May the Force be with you.
  • #34,129
  • Jan 27, 2020 3:49pm Jan 27, 2020 3:49pm
Quoting ikdenk
{quote} Thanks for sharing your indicator. Looking at your charts, I see you have a very useful indicator showing Lot size and Value of each pip. I think many people here would appreciate that as well or at least a hint on where to find it. There is so much confusion about pip values, particularly because many accounts are in different deposit currencies.
Here is a separate pip value calculator I like, it expresses the value of 1 pip in your base currency, very useful to quickly gauge lot sizes to use.
Attached File(s)
File Type: mq4 PipValueCalculatorV1_02.mq4   5 KB | 731 downloads
  • #34,130
  • Jan 27, 2020 4:11pm Jan 27, 2020 4:11pm
Another example of the AUD beat down. AUD Swiss. In the case of my account AUD CHF ($460 per 10K) is a better deal for me compared to EUR AUD ($740 per 10K) margin wise.
Attached Image (click to enlarge)
Click to Enlarge Name: ACHFDPH4270120.png Size: 150 KB
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,131
  • Jan 27, 2020 4:46pm Jan 27, 2020 4:46pm
Quoting Nostromo
{quote} Here is a separate pip value calculator I like, it expresses the value of 1 pip in your base currency, very useful to quickly gauge lot sizes to use. {file}
Thank you.

finally-2020 must have modified this later, judging by the sequence of his charts.

In the mean time I have found a similar short version, as attached. Unfortunately only have the ex4 version so far.
Attached File(s)
File Type: ex4 PipValueLite.ex4   11 KB | 602 downloads
Attached Image


Very useful indeed: when you multiply the pipvalue with the pipsometer value, it gives you the current drawdown or profit.
  • #34,132
  • Jan 27, 2020 6:22pm Jan 27, 2020 6:22pm
Quoting ikdenk
{quote} Thanks for sharing your indicator. Looking at your charts, I see you have a very useful indicator showing Lot size and Value of each pip. I think many people here would appreciate that as well or at least a hint on where to find it. There is so much confusion about pip values, particularly because many accounts are in different deposit currencies.
Just google pip value calculator. As far as I can recall it was on mql4 website. You'll have access to its source code too, so you can tailor-make it as I did. Cheers...
  • #34,133
  • Jan 27, 2020 6:52pm Jan 27, 2020 6:52pm
EA at a nice level to go south, trading above R100. Euro news this morning was pretty dismal, AUD is also weak though. I'd like to see what happens with AUD CPI tomorrow, which is forecast to be positive for the AUD. It is possible the sentiment may encourage the pair south toward WPP. Then if news is weaker than projected, we might see a move north again. Creeping past that nice resistance around 1.6300 as we speak...Even the low impact NAHB news is driving the pair. I think it might be just a small head fake though above that level, maybe to R138 area, then reversal? Both sides of this pair are weak, so I am looking for a pull back toward WPP.
  • #34,134
  • Edited 10:12pm Jan 27, 2020 7:22pm | Edited 10:12pm
Just would like to share whats on my journal regarding Aud and CAD (also applies to NZD in lesser effect)

AUD was severely affected by US-China Trade war which goes to show that AUD, as a commodity currency, depends on robust global trade to be strong.

Now, with the advent of the 2019-nCOV scare affecting mostly China and some cases elsewhere, which has a potential to spread rapidly, investors are again fearing a temporary slow down in global trade thus AUD weakness. Oil demand is also preceived to decrease thus the correlation to CAD weakness.

Keyword here is temporary. We don't know what will happen to nCOV phenomenon or how long it will last but looking at SARS in 2003, it took about 8 months before the issue subsides. Chinese government was not fully transparent that time thus the swift spread of the disease. This time, Chinese government is more transparent reporting minute detail of affected population to somewhat ease international sentiment. It all depends though on the level of containment by authorities and how soon they are able to address the spread of disease, so not to elevate this as international emergency.

To this end, given that authorities able to contain the disease successfully, the likely outcome is market sentiment on global trade will be positive and would translate to AUD, CAD recovery.

Note: AUD red news tomorrow on CPI. If green, would provide temporary boost to AUD. Market sentiment is generally negative on AUD unless nCOV is addressed.
Fortune favors the brave.
  • #34,135
  • Jan 27, 2020 8:57pm Jan 27, 2020 8:57pm
EUDUSD/D1: We're seeing a completed AB=CD Pattern. This week we'll have German's "Unemployment Change" and CPI as well as Europe's GDP; all expected to appear green (but anything can happen). By the look of it, we can see upward moves in EU

Attached Image
  • #34,136
  • Edited 11:08pm Jan 27, 2020 10:39pm | Edited 11:08pm
System is laid out pretty clearly.Its important not to overthink, over-analyze over speculate about fundamentals.

You got to execute rest is probabilities. EA hit almost R138 now going down last thing you should do is forget PA and what this system is about.
Dont complicate.When times comes to pull the trigger do it! That's it.Let the market do its thing.
I care less about virus China and all that Jazz what I look price hitting key resistance and coming down I am on IT

There are no weak strong currencies its all relative where they are on PRICE

AUD weak? Not at this price.Look at AC now and tell me if AUD is weak!!! I want you guys to stop the nonsense everyone goes around and focus WHERE PRICE IS!
In trading, you have to be defensive and aggressive at the same time
  • #34,137
  • Jan 27, 2020 11:45pm Jan 27, 2020 11:45pm
Quoting Davit
System is laid out pretty clearly.Its important not to overthink, over-analyze over speculate about fundamentals. You got to execute rest is probabilities. EA hit almost R138 now going down last thing you should do is forget PA and what this system is about. Dont complicate.When times comes to pull the trigger do it! That's it.Let the market do its thing. I care less about virus China and all that Jazz what I look price hitting key resistance and coming down I am on IT There are no weak strong currencies its all relative where they are on PRICE...
Thank you, Davit, for pointing it out. Learning is thus non-stop.

I think this is the part where my trading is failing me - over analyzing and overthinking the news events and takes away the correct judgement when its the time to execute based on your system, which I'm following since last year.
Fortune favors the brave.
  • #34,138
  • Jan 27, 2020 11:55pm Jan 27, 2020 11:55pm
Pulled the trigger yesterday, now just waiting for the market to do it's thing.
DD is part of the system. I'm in no rush.
And yes I did not forget FOMC.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 123 KB
Click to Enlarge Name: USDCADM30.png Size: 119 KB
We obey the structure that results from the market's reaction
  • #34,139
  • Jan 28, 2020 1:05am Jan 28, 2020 1:05am
Interesting fact about Davit's thread.

Currently 52 traders ARE VIEWING THIS THREAD ; 21 ARE MEMBERS !!!!!! Almost always a 2:1 ratio at a minimum over the past year !!! ( I've noticed this).

Clearly Davit , YOUR THREAD is a huge success !!!!!!

The "naysayers" CANNOT ARGUE WITH SUCCESS !!!!!

Let's just "keep on , keepin on" for our 10 % gains PER MONTH !!!!

CANADA'S BIG BANKS will pay you a whopping 1.99% PER YEAR , IF YOU MAINTAIN a balance of $5000.00 in your savings account !!! GASP !!!!!

Regards ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #34,140
  • Jan 28, 2020 5:35am Jan 28, 2020 5:35am
CB at 10am.Red here good for UC shorters
Based on how over stretched AU NU EU UC are its likely all these will go into corrections hence US bulls are at this junction in disadvantage

Remember strength is relative where price is.Write this and put it on your PC
In trading, you have to be defensive and aggressive at the same time
36 traders viewing now