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Pivot Trading

  • #34,581
  • Feb 13, 2020 6:09am Feb 13, 2020 6:09am
Quoting kleybenny
{quote} Hi Davit, could I kindly ask you for the reasons to sell? Because of PA on the left and ADR? Would be very interesting for me. Thank you.
simple fact that it was flaky news.Most BS news deflates
In trading, you have to be defensive and aggressive at the same time
  • #34,582
  • Feb 13, 2020 6:10am Feb 13, 2020 6:10am
Quoting Davit
{quote} I think US Oanda charges spread differently more aggressively. Anyway buddy if its working out for you why not!
Here's a screenshot of my spread on USD NOK. Perhaps your broker is getting to greedy?
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,583
  • Feb 13, 2020 6:17am Feb 13, 2020 6:17am
Quoting finally-2020
One thing I can't really understand is WHY EUR is so weak? Australia has placed a ban on Chinese tourists for another week + bushfire + floods + ... but look at how resilient AUD is! Have I missed anything?
Why ? For me fundamentally it has been a weak economy for the last 10 years and is currently at 0 interest rates and compared to most major developed economies the only economy with a lower interest rate presently is Japan and the Swiss. Japan and the EU are running Quantitative easing programs and the EU restarted this last year after again poor growth results. The engine of any recovery in the EU is the German exports ( primarily ) car production which has seen a significant slowdown ( tariff issues , emissions scandal ) and the banking industry can't gain any traction as there deposit lending rate is negative.

If you had money to invest would you put into an economy that is paying 0 ? Or Put it into the USA at 1.75. Even Australia is at 0.75%. The bushfires alone will encourage a large stimulus programme - the floods less so ( Australia wants lots of rain ). You will also be aware of the recent hawkish stance from the RBA.

If you have been listening to the ECB press conference/s you would have heard calls for Fiscal stimulus - in every meeting for the last 10 years. This is one thing the EU has been very reluctant to do and whilst it continues to hold the purse strings tight the question will be : Where will the growth come from ? In view of this the currency will continue to stay depressed against virtually all the majors.

Sure it may become crazily oversold on any momemtum oscillator but trying/hoping for this currency to rise without the fundamentals improving is a recipe for cash to be tied up/lost when it can be invested in other pairs of better value. You are better off waiting to buy on a pullback once a bottom is in ? When that is in is anybody's guess right now.
  • #34,584
  • Feb 13, 2020 6:19am Feb 13, 2020 6:19am
Quoting finally-2020
One thing I can't really understand is WHY EUR is so weak? Australia has placed a ban on Chinese tourists for another week + bushfire + floods + ... but look at how resilient AUD is! Have I missed anything?
You see, all latest data release were bad for EUR.

The Brexit thing further weakens EUR, but imho the main issue is that Germany had a big slowdown in 2019 and there are no signs of short-term recovery.
As a consequence EUR is at multi-month lows against most of the other currencies.
Porta itineris dicitur longissima esse
  • #34,585
  • Feb 13, 2020 6:31am Feb 13, 2020 6:31am
GC in profit
going to take a nap.Stay safe and green.Love you guys!
In trading, you have to be defensive and aggressive at the same time
  • #34,586
  • Edited 8:20am Feb 13, 2020 6:37am | Edited 8:20am
Perhaps the Euro is missing their second biggest monetary contributor the UK who was in second place behind Germany. Maybe now we'll see reality set in. They've let themselves be invaded with hordes of hostile non contributing refugees that create chaos. The printing presses are running full tilt. Several of the members of the EU like Greece, Italy, and Spain are a constant drain. 19 years later it looks like it has come full circle. Here's a monthly chart of the EUR USD. Green cross shows when it was introduced, Gold cross shows when the banknotes and coins were introduced and became legal tender.
Introducing the Euro:
The Euro is the new 'single currency' of the European Monetary Union, adopted on January 1, 1999 by 11 Member States. Greece became the 12th Member state to adopt the Euro on January 1, 2001. On January 1, 2002, these 12 countries officially introduced the Euro banknotes and coins as legal tender.
https://www.bbc.com/news/uk-politics-48256318
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,587
  • Feb 13, 2020 7:29am Feb 13, 2020 7:29am
Quoting Romanov102
Perhaps the Euro is missing their second biggest monetary contributor the UK who was in second place behind Germany. Perhaps now we'll see reality set in. They've let themselves be invaded with hordes of hostile non contributing refugees that create chaos. The printing presses are running full tilt. Several of the members of the EU like Greece, Italy, and Spain are a constant drain. https://www.bbc.com/news/uk-politics-48256318
The only plus side for the Euro at the moment is that a continuing cheaper currency will be good for it's exporters. You will have heard Trump having a go at the ECB's cheap currency policy and whilst no central banker will admit it they are ALL actively looking for the cheapest rate possible ( which supports export markets ). It is just that some are more obvious than others i.e. Swiss and Japan actively intervene in the currency markets. You could also argue at the moment with the US Fed buying any and all repos at the moment that they are engaged in a stealth QE programme but that is another story altogether.
  • #34,588
  • Feb 13, 2020 8:20am Feb 13, 2020 8:20am
Quoting skippyone
{quote} The only plus side for the Euro at the moment is that a continuing cheaper currency will be good for it's exporters. You will have heard Trump having a go at the ECB's cheap currency policy and whilst no central banker will admit it they are ALL actively looking for the cheapest rate possible ( which supports export markets ). It is just that some are more obvious than others i.e. Swiss and Japan actively intervene in the currency markets. You could also argue at the moment with the US Fed buying any and all repos at the moment that they...
Shhh! The Sheeple are not supposed to notice these things. Market is completely rigged. The Fed is completely manipulating the markets now. It's a Presidential Election year we have to have an UP market. China is doing the same thing, instead of letting the market takes its natural ebb and flows there is constant interference by government. In Canada the Government is one of the biggest players in the market. They take our pension contributions and put it in the Casino. $409.5 BILLION of our money in the market. If you want to invest in Canadian stocks just look at what their holdings are they've already done all the research for you.
https://www.wsj.com/articles/fed-add...=hp_major_pos2
https://www.cnn.com/2020/02/04/inves...rus/index.html
https://en.wikipedia.org/wiki/CPP_Investment_Board
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,589
  • Edited 9:55am Feb 13, 2020 9:45am | Edited 9:55am
EA on a H4 pending ABCD pattern. I don't currently have a lot of faith in the Euro right now. I did a small trade on EG last night with a tight stop that got taken out,which doesn't bother me as its fallen nearly another hundred pips since. Who wants to catch the falling knife? It wouldn't surprise me to see it fall below the last low to the left on the EG. Sorry the platform I execute all my trades from only has Standard Pivots.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,590
  • Feb 13, 2020 10:15am Feb 13, 2020 10:15am
Quoting huatboyz
{quote} Eur data has been very weak these few weeks, there are speculation that ECB will cut rates soon.
EZB interest rate is ZERO already
  • #34,591
  • Feb 13, 2020 12:36pm Feb 13, 2020 12:36pm
I am impressed with the accuracy of the Pivots and ADRs ...

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"The freedom of the other extends mine to infinity"
  • #34,592
  • Feb 13, 2020 1:20pm Feb 13, 2020 1:20pm
Pequenas posições curtas em EUR / GBP...
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"The freedom of the other extends mine to infinity"
  • #34,593
  • Feb 13, 2020 1:22pm Feb 13, 2020 1:22pm
Thank you for your response. Actually this part of your reply is all I was/am hoping for

Quoting skippyone
{quote} You are better off waiting to buy on a pullback once a bottom is in ? When that is in is anybody's guess right now.
But I'm getting impatient...
  • #34,594
  • Feb 13, 2020 4:48pm Feb 13, 2020 4:48pm
Japan has had their first corona victim ...
anyone expecting Yen to be deprecated ?
  • #34,595
  • Edited 6:11pm Feb 13, 2020 5:59pm | Edited 6:11pm
Quoting ShanA
Japan has had their first corona victim ... anyone expecting Yen to be deprecated ?
Wait until the Canadian victims start piling up, we have approximately 10 Airliners a day landing in Canada from China. Just look at YVR Vancouver arrivals or YYZ Toronto. The sociopaths that run the Country say we have nothing to fear, perhaps the population reduction scheme has begun. Meet our "Canadian" Chief Public Health Officer. BORN IN HONG KONG! https://twitter.com/cpho_canada The USA and several other countries did it right they shut down all flights coming out of China.
Look at the inside of a US bound evacuation flight coming out of China heading to a quarantine center on a Military base. Meanwhile in Canada 1,000 plus Chinese a day are casually walking off planes and into our cities. What could possibly go wrong?
http://wallstreetwindow.com/2020/02/...my-02-07-2020/
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,596
  • Feb 13, 2020 6:13pm Feb 13, 2020 6:13pm
Quoting Romanov102
{quote} Wait until the Canadian victims start piling up we have approximately 10 Airliners a day landing in Canada from China. Just look at YVR Vancouver arrivals or YYZ Toronto. The sociopaths that run the Country say we have nothing to fear, perhaps the population reduction scheme has begun. Meet our "Canadian" Chief Public Health Officer. BORN IN HONG KONG. https://twitter.com/cpho_canada
  • #34,597
  • Edited 10:39pm Feb 13, 2020 10:25pm | Edited 10:39pm
Honestly the move on G pairs was unexpected the resignation of minister.Holding DD on EG
We got Euro news at 2am EST German Prelim GDP q/q even average number will be better then usual red.Lets see how that goes.
Euro needs some spark it looks like dead horse getting kicked over and over.

Red news on USD Core Retail Sales m/m retail sales will help UC bears

Been at this very exact situation too many times to flinch.Rolling going forward.

On minor victory managed to beat 3 high ranking players in a row on chess

On interesting stat on chess played 19,875 games already....that's addiction category vast majority with wine glass in the other hand...
some watch TV I play chess to relax...it does relax me
In trading, you have to be defensive and aggressive at the same time
  • #34,598
  • Feb 14, 2020 5:29am Feb 14, 2020 5:29am
closed GC
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #34,599
  • Feb 14, 2020 5:33am Feb 14, 2020 5:33am
Quoting Davit
closed GC {image}
Im shoring GN right now, will hold it over the weekend
Money is a part of what turns you into who you are.
  • #34,600
  • Feb 14, 2020 5:33am Feb 14, 2020 5:33am
Pound got dumped NICE!

data neutral on USD hence why market is in a limbo so far
Buy USD? or DUMP?

Holding UC short
In trading, you have to be defensive and aggressive at the same time
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