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Pivot Trading

  • #34,181
  • Jan 30, 2020 8:45am Jan 30, 2020 8:45am
Quoting Romanov102
{quote} If you want an indicator you should be well versed at what it does. Here's an explanation of the TDI indicator from Patrick in Vegas. https://www.youtube.com/watch?v=EDuzcUStPgQ
Thanks very much Romanov,

I appreciate your response and will take a pass on this indicator.

I have been in strong opposition of all indicators but thought that this one had been a large contributor to pivot trading success. I now see that this is not the case.

Regards
Terry
  • #34,182
  • Edited 4:07pm Jan 30, 2020 10:50am | Edited 4:07pm
USD On an H4. EA on H4 Deep Crab. Perhaps this fiat currency will start falling. Very interesting show I watched on the weekend on History channel on Gold. Americas Book of Secrets. Well worth the watch. Germany to the FED: We'd like 300 tons of our Gold we have in storage with you. FED: Sorry that's not possible at the moment. Germany: Well we'd like to come have a look at it in the Vault. FED: Sorry that's not possible due to security issues.

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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,183
  • Jan 30, 2020 1:38pm Jan 30, 2020 1:38pm
USDCAD facing some resistance at R78, worth monitoring PA
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  • #34,184
  • Jan 30, 2020 2:32pm Jan 30, 2020 2:32pm
Taken off the training wheels,
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We obey the structure that results from the market's reaction
  • #34,185
  • Edited 4:08pm Jan 30, 2020 2:34pm | Edited 4:08pm
Pending Deep Crab on AU H4. Trading is always easier in the rear view mirror. Imagine having bought AU in November and sold it in Dec 2 1/2 cents up and 3 cents down.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,186
  • Jan 30, 2020 2:55pm Jan 30, 2020 2:55pm
Holding EA in DD but confident about it. Brexit tommorow good chance Euro may get dumped.

Coronavirus turnout lot more serious then I gave thought which was my mistake.Didn't expect such dumping of AUD and NZD such extreme.
Anyway we may have reached the top already....
Lets see how tomorrow unfolds

Short on UC
In trading, you have to be defensive and aggressive at the same time
  • #34,187
  • Jan 30, 2020 2:59pm Jan 30, 2020 2:59pm
Quoting TerryDawe
{quote} Thanks very much Romanov, I appreciate your response and will take a pass on this indicator. I have been in strong opposition of all indicators but thought that this one had been a large contributor to pivot trading success. I now see that this is not the case. Regards Terry
You need to be able to do basic things yourself.So far 100% of your posts could of been answered by simple search of this thread.
Seriously get a grib put some work.
Stop asking others to hold your hand!I gave a chance dont ruin it.Show some initiative
In trading, you have to be defensive and aggressive at the same time
  • #34,188
  • Jan 30, 2020 4:26pm Jan 30, 2020 4:26pm
Point taken.

Thanks
Terry
  • #34,189
  • Jan 30, 2020 8:21pm Jan 30, 2020 8:21pm
Two days of babysitting this baby (EJ) is paying off. Still today's EUR CPI/GDP ahead, but Brexit makes me cautious. I don't set neither hard SL nor hard TP, but today I will because of Brexit headlines ...

It's a JPY move though (not EUR). I'll be watching UJ for signs of weakness too...

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  • #34,190
  • Jan 30, 2020 11:21pm Jan 30, 2020 11:21pm
Attached Image


I also have an outbreak of corona based DD in my account currently nursing a total 5% DD across AC and AN. Waiting for the Euro news later and holding out for AUD and NZD red releases next week before I re-evaluate. Have a good weekend all
  • #34,191
  • Jan 31, 2020 1:21am Jan 31, 2020 1:21am
It's Brexit Day, pound is rallying since yesterday after BOE decision to leave rate unchanged.
GA and GN at highs approaching WR138, GA trading at Jun 2016 pre-Brexit levels.
Porta itineris dicitur longissima esse
  • #34,192
  • Jan 31, 2020 4:49am Jan 31, 2020 4:49am
Closed EJ with minor profit. This week was too boring and, I'm afraid, the coming ones will be no better than this. This fu...g Corona thing sucks!

Next week we'll have:

  1. ABA rate decision
  2. NZD employment
  3. USD PMI+NFP
  4. CAD employment

But what's the point when 2/3 of China's business was affected this week by Corona? The hiding period of Corona inside the body is 14 days; this means bad headlines are still to come over coming days JPY getting too strong, AUD/NZD too weak and USD chasing JPY.

Please share your thoughts ...

  • #34,193
  • Jan 31, 2020 5:16am Jan 31, 2020 5:16am
Quoting renkotop
{quote} Gmo, are you cracy???
CADJPY H4
Price Action is paramount! Yes, there are "rules" but PA still dictates!
Look at M15, M30, H1 & H4 at R61
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USDCAD
Another one!
There is a lot to discuss with this:
Some points are
1. Elliott Wave and deep retracement for Wave 2 end
2. Volatility Band "Squeeze" TDI
3. Solid thrust through R78 signaled further push higher
4. ADRH target
5. Retracement from most recent High of 38.2% or less may signal another push higher in a currently a very weak CAD
6. Wait for ABC retracement but could be ABCD
Like Davit, I love volatility in this scene!
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  • #34,194
  • Edited 6:50am Jan 31, 2020 5:51am | Edited 6:50am
Quoting Gmo
AUDUSD Reluctant to post this as Top Down analysis looks like a "bird's nest". Apologies to Davit. AU may be at an interesting juncture leading into next week? D1 H&S, Rising TL, Descending TL from 12-18. It is rare for me over recent months to hold a position over the weekend. Will it pay off???? Monday NAB Business confidence. Tuesday RED AUD News!! PPE the Key despite the "birds nest" {image} {image}
AUDUSD D1
Review original Post, January 25
Edit: 0749 Friday 1-31-20
Friday EOM DX reversal Exit +716.2
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  • #34,195
  • Jan 31, 2020 8:12am Jan 31, 2020 8:12am
Shorting USDCAD targeting R38

EURAUD good area to short
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  • #34,196
  • Jan 31, 2020 9:08am Jan 31, 2020 9:08am
We are going through a period in which traditional fundamentals weigh very little, specially for commodity currencies.

No matter how good data is for CAD and AUD their selloff continues at strong pace, of course it's due to coronavirus outbreak.
Currently I'm facing a big DD on EA short, already took some loss, it's hard for me to understand EUR strength.
Let's see if the music will change next week.
Porta itineris dicitur longissima esse
  • #34,197
  • Jan 31, 2020 10:00am Jan 31, 2020 10:00am
Quoting bubincka
We are going through a period in which traditional fundamentals weigh very little, specially for commodity currencies. No matter how good data is for CAD and AUD their selloff continues at strong pace, of course it's due to coronavirus outbreak. Currently I'm facing a big DD on EA short, already took some loss, it's hard for me to understand EUR strength. Let's see if the music will change next week.
Definitely been an interesting start of the year, to say the least, been eyeing up EURCAD near enough all day to take it short, none the less new highs continue to be made. Wonder how many will be caught on the wrong side once prices make new swings.
  • #34,198
  • Jan 31, 2020 10:04am Jan 31, 2020 10:04am
Quoting bubincka
We are going through a period in which traditional fundamentals weigh very little, specially for commodity currencies. No matter how good data is for CAD and AUD their selloff continues at strong pace, of course it's due to coronavirus outbreak. Currently I'm facing a big DD on EA short, already took some loss, it's hard for me to understand EUR strength. Let's see if the music will change next week.
EA

I'm particularly looking at 6615 to be reached and watch the PA there before I decide to close my trades which are currently in DD.
Fortune favors the brave.
  • #34,199
  • Jan 31, 2020 10:08am Jan 31, 2020 10:08am
G pairs are in interesting levels, will watch how these pairs will unfold PA wise post Brexit.
Fortune favors the brave.
  • #34,200
  • Jan 31, 2020 10:17am Jan 31, 2020 10:17am
Quoting bubincka
We are going through a period in which traditional fundamentals weigh very little, specially for commodity currencies. No matter how good data is for CAD and AUD their selloff continues at strong pace, of course it's due to coronavirus outbreak. Currently I'm facing a big DD on EA short, already took some loss, it's hard for me to understand EUR strength. Let's see if the music will change next week.
Holding mine... started at.6350. Even have room to add more. Looks really cheap at this level. Quite confident about it but sure market can hand my ass over to me. Overall DD is somewhere at 3.5%.
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