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Pivot Trading

  • #34,341
  • Feb 5, 2020 8:29am Feb 5, 2020 8:29am
Quoting Cryptosurf
There were a lot of pairs that fit my preferred setup. Those that ended last week stretched into the 78-100+ zones and failed the 38-61 on the new week. Some so far: AUDCAD AUDJPY AUDUSD CADJPY EURAUD EURCAD EURNZD GBPAUD GBPCAD GBPNZD NZDCAD NZDJPY NZDUSD USDJPY XAUUSD
One point that i would add here is that virtually all of these pairs were on there 3rd week in a row of extending into the outer pivot zones ( 2 weeks outer and then fail ) . I have seen pairs over the last 12 months extend into the 4th week and fail but nothing over this. Something to be aware of when managing stops and position sizing.
  • #34,342
  • Feb 5, 2020 8:44am Feb 5, 2020 8:44am
Quoting skippyone
{quote} One point that i would add here is that virtually all of these pairs were on there 3rd week in a row of extending into the outer pivot zones ( 2 weeks outer and then fail ) . I have seen pairs over the last 12 months extend into the 4th week and fail but nothing over this. Something to be aware of when managing stops and position sizing.
Thanks, that is an interesting observation for sure.

I have been asked many times about this late week setup. I had discussed it in great lengths with an old school pit trader and he explained it to me as this:

When price is stretched into the Friday close it gives MM’s and traders a time out for the weekend. There may be an attempt to keep pushing prices in the new week, but keep a look out for exhaustion ie pullback.
Trade with confidence, trade without fear.
  • #34,343
  • Feb 5, 2020 8:55am Feb 5, 2020 8:55am
Didn't expect GC to drop so much. Well profited 75% of the move
GU soon to hit strong R so be wary on G crosses ADR low Daily over the range strong pivot zone
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In trading, you have to be defensive and aggressive at the same time
  • #34,344
  • Edited 9:59am Feb 5, 2020 9:23am | Edited 9:59am
Hitting hard UC short
Money is a part of what turns you into who you are.
  • #34,345
  • Feb 5, 2020 10:04am Feb 5, 2020 10:04am
[quote=Davit;12739028]What we think pretty is inherently based on Golden ratio.
This is why I trade Phi over Fib
  • #34,346
  • Feb 5, 2020 10:23am Feb 5, 2020 10:23am
Quoting Davit
Didn't expect GC to drop so much. Well profited 75% of the move GU soon to hit strong R so be wary on G crosses ADR low Daily over the range strong pivot zone {image}
G Crosses will continue to be volatile over the near term ( as they have been for awhile now ) With 2 types of trade deal on the table :

1 - Canadian style free trade agreement ( Positive to GBP )
2 - Australian style trade agreement which is effectively - NO deal ( Negative for GBP )

at 1.45pm a statement came out about the attack on the Jewel of the GBP's money making machine - The financial sector

MIFID - Is one of the tools to regulate financial services. Any attempt by the EU to try and wrestle away more of this sector will not be favorable to the pound.
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  • #34,347
  • Edited 11:30am Feb 5, 2020 11:17am | Edited 11:30am
Doing my taxes and despite of loses on Trump trade war last summer made slightly over 100% return.Not bad
That's hundreds and hundreds of trades.If my system was faulty as some think it is then my results should of been lot worse and its not based on few trades so luck has nothing to do with it.Could of traded better? Yes!Always room to improve!

Not going to post in public private financial statements but I have nothing to hide.For the haters, idiots here at FF no funds were added!Despite of numerous claims I blew my account and such nonsense.


Trade with confidence system is solid!
In trading, you have to be defensive and aggressive at the same time
  • #34,348
  • Feb 5, 2020 11:42am Feb 5, 2020 11:42am
53pip bounce on GU
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In trading, you have to be defensive and aggressive at the same time
  • #34,349
  • Feb 5, 2020 12:09pm Feb 5, 2020 12:09pm
I thought I would post a couple of entries I've taken across the day

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  • #34,350
  • Feb 5, 2020 2:25pm Feb 5, 2020 2:25pm
Patience and faith in the system. I was on the outer limit of my DD kahunas but it came out as I hoped. Decided to close all positions when S38 was hit.
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  • #34,351
  • Feb 5, 2020 4:51pm Feb 5, 2020 4:51pm
Scratched out of my AU trade this morning with the Positive ADP Non Farm Payroll this morning @ 05:15. Happy to be out of that trade with a small loss of $28.23 I had a DD on it as high as $750. Like the Kenny Rogers song you have to know when to hold them, and know when to fold them. My other trades for the week were Positive. EA, GC, GU. My only open fx trade now is a little USD MXN.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,352
  • Feb 5, 2020 6:43pm Feb 5, 2020 6:43pm
I suppose AUD is spitting in the face of negative data and taking stops this evening
  • #34,353
  • Edited Feb 6, 2020 1:13am Feb 5, 2020 7:05pm | Edited Feb 6, 2020 1:13am
Quoting YoungET
I suppose AUD is spitting in the face of negative data and taking stops this evening
AUD. so far, so good against all majors pairs, plus copper & Iron Ore
  • #34,354
  • Feb 5, 2020 11:10pm Feb 5, 2020 11:10pm
Inserted Video

hilarious
In trading, you have to be defensive and aggressive at the same time
  • #34,355
  • Feb 5, 2020 11:46pm Feb 5, 2020 11:46pm
EA H1 I took it South perhaps an opportunity will arise to catch it going North. ECB events tonight and AUD events tomorrow.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,356
  • Feb 6, 2020 2:20am Feb 6, 2020 2:20am
still long AJ & EJ
still short EA & GU
despite any penny this week so far i am more than happy because
AUD remains bullish and Lead for Fourth Day.
probably it continues because of the :
risk tone remain risk-on.
unverified reports that an effective drug to treat the coronavirus has been found by Chinese researchers.
China announcing they will cut tariffs on $75 billion of US goods by as much as 50% on February 14th.

Australia's latest economic data, Retail Sales for Q4 beat expectations, printing at 0.5% versus consensus of 0.3% although Retail Sales for December was disappointing at -0.5% versus consensus of -0.2% and the minimum expectation of -0.4%.

highlights is the report for Q4, the report was overall positive for AUD. Summarising the report, Oxford Economics stated: "the impact of income tax and cash rate cuts appears to finally be feeding through to spending... The data will be welcome news for the RBA, who signalled this week that they expect a pick-up in consumer spending to underpin an acceleration in growth this year".
  • #34,357
  • Feb 6, 2020 3:29am Feb 6, 2020 3:29am
Quoting ppxdf
Before New York session close, we have today some FX option expiries. EU might move from 1.10 to 1.11 EUR/USD: 1.1000-15 (400M), 1.1050 (630M), 1.1065-70 (470M), 1.1085-90 (370M), 1.1100 (350M) GBP/USD: 1.2975 (637M), 1.3000 (370M) EUR/GBP: 0.8500 (210M), 0.8675 (450M) AUD/NZD: 1.0315 (400M), 1.0525 (400M) AUD/USD: 0.6700 (1BLN), 0.6800 (620M) NZD/USD: 0.6560 (340M), 0.6575 (410M) USD/CAD: 1.3170-80 (1.1BLN), 1.3375 (350M) USD/JPY: 108.45-50 (1.1BLN), 109.00-10 (2.6BLN) EUR/JPY: 121.00 (390M) EUR/NOK: 10.26 (550M)
Before New York session close today, we have more FX option that expiries with thoses prices below:
EUR/USD: 1.0960 (526M), 1.1000 (508M), 1.1030-40 (1.3BLN), 1.1090-1.1100 (700M)
GBP/USD: 1.3000 (210M), 1.3135 (230M),1.3155 (300M)
EUR/GBP: 0.8375 (200M), 0.8450 (400M)
USD/CAD: 1.3190 (335M), 1.3250 (230M)
AUD/USD: 0.6720 (500M), 0.6750 (1.3BLN),0.6770 (530M) 0.6800-15 (900M)
USD/JPY: 109.00 (750M), 109.50 (360M)
EUR/JPY: 121.60 (770M)
  • #34,358
  • Feb 6, 2020 4:38am Feb 6, 2020 4:38am
shorting UJ
she has a tendency for sudden drop and R138 good spot to hold.Lets see how it goes.
In trading, you have to be defensive and aggressive at the same time
  • #34,359
  • Edited 5:17am Feb 6, 2020 5:02am | Edited 5:17am
On different note I love to visit Cuba.Been fascinated by its culture specially music and visual arts.
one of the artists I like a lot.Painstakingly carving woodcuts in large scale Osmeivy Ortega Pacheco
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In trading, you have to be defensive and aggressive at the same time
  • #34,360
  • Feb 6, 2020 5:24am Feb 6, 2020 5:24am
lines on the horse are just marvelous.When you consider the image is carved takes it to high level.That's passion mastery! How many feel the same about trading?
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In trading, you have to be defensive and aggressive at the same time
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