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Pivot Trading

  • #34,601
  • Feb 14, 2020 7:41am Feb 14, 2020 7:41am
worth reading on Rubber band theory
relevant on Euro.Forget what some Swiss banker thinks about Euro if its not from ECB dismiss it as pure speculation.

https://www.investing.com/analysis/t...eory-200329583
In trading, you have to be defensive and aggressive at the same time
  • #34,602
  • Feb 14, 2020 7:45am Feb 14, 2020 7:45am
Quoting Wesleyaso
I am impressed with the accuracy of the Pivots and ADRs ... {image}
Its been my experience as well over 5yrs

rest is managing trades obviously there are failures which happen on strong fundamental factors like Trump's trade war last year...

Then think about rubber band theory....and it did bounce strongly up
In trading, you have to be defensive and aggressive at the same time
  • #34,603
  • Feb 14, 2020 7:46am Feb 14, 2020 7:46am
GC hits 7250 I may short again
In trading, you have to be defensive and aggressive at the same time
  • #34,604
  • Feb 14, 2020 7:50am Feb 14, 2020 7:50am
H1 all red on GU make or break 30 break good for EG

ALWAYS check majors for crosses
This should be now auto response a physical memory like holding chords on guitar.In my view this is the stage when you become proficient in trading doing lot of things correctly without much effort
In trading, you have to be defensive and aggressive at the same time
  • #34,605
  • Feb 14, 2020 7:55am Feb 14, 2020 7:55am
over 4lots on UC shorts 3150 would be nice by end of the month
In trading, you have to be defensive and aggressive at the same time
  • #34,606
  • Feb 14, 2020 8:13am Feb 14, 2020 8:13am
UJ is lifeless not up enough to sell
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #34,607
  • Feb 14, 2020 8:20am Feb 14, 2020 8:20am
GC 2nd try, another success

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  • #34,608
  • Feb 14, 2020 8:22am Feb 14, 2020 8:22am
Quoting Davit
UJ is lifeless not up enough to sell {image}
Not worth to touch it until it is in this 20-30 pip range, due to the horrible swaps on shorts. Plus, everybody keeps shorting like 110 was a "forever resistance". Thats why I expect a move above 111 and even higher. Plenty of better shorts will be there. No trade is sometimes the best option...
Everyone can see the chart, but only a few can actually read it.
  • #34,609
  • Feb 14, 2020 8:25am Feb 14, 2020 8:25am
Quoting OnlineAddict
{quote} Not worth to touch it until it is in this 20-30 pip range, due to the horrible swaps on shorts. Plus, everybody keeps shorting like 110 was a "forever resistance". Thats why I expect a move above 111 and even higher. Plenty of better shorts will be there. No trade is sometimes the best option...
agree I approach it UJ as short term trade. Made $800 this week on it.Not bad
I see USD weakening going forward.Its more likely UJ break south unless major breakthrough happens on Virus.On this note cases are getting bigger on alarming rate.Romanov posted his concerns on Canada lots of flights still coming back from China
In trading, you have to be defensive and aggressive at the same time
  • #34,610
  • Feb 14, 2020 8:32am Feb 14, 2020 8:32am
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 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...
Pretty serious situation.I hope liberal lefty government wakes up before it gets too late

How this clown Justin Trudeau got elected again I am still bewildered
In trading, you have to be defensive and aggressive at the same time
  • #34,611
  • Feb 14, 2020 8:39am Feb 14, 2020 8:39am
Quoting Davit
{quote} agree I approach it UJ as short term trade. Made $800 this week on it.Not bad I see USD weakening going forward.Its more likely UJ break south unless major breakthrough happens on Virus.On this note cases are getting bigger on alarming rate.Romanov posted his concerns on Canada lots of flights still coming back from China
I also expect USDX to drop now, maybe even 300 pips...but its not as correlated with UJ, according to myfxbook data, the correlation is only 18%. And below is the reason I don't want to short UJ so close to 110 anymore. If there were positive swaps on the shorts, I wouldn't mind staying short for weeks or months...but its the other way around, so...

Attached Image (click to enlarge)
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Everyone can see the chart, but only a few can actually read it.
  • #34,612
  • Feb 14, 2020 8:51am Feb 14, 2020 8:51am
Quoting OnlineAddict
{quote} I also expect USDX to drop now, maybe even 300 pips...but its not as correlated with UJ, according to myfxbook data, the correlation is only 18%. And below is the reason I don't want to short UJ so close to 110 anymore. If there were positive swaps on the shorts, I wouldn't mind staying short for weeks or months...but its the other way around, so... {image}
Just so you know find a good accountant doing taxes.I was able to include all Fees as loss on my taxes last year.
In trading, you have to be defensive and aggressive at the same time
  • #34,613
  • Feb 14, 2020 8:51am Feb 14, 2020 8:51am
Quoting Davit
GC hits 7250 I may short again
GC now at 7250, I'll consider to add more if it will approach ADR High.

Oil is on recovery path, CAD still losing.
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Porta itineris dicitur longissima esse
  • #34,614
  • Feb 14, 2020 9:24am Feb 14, 2020 9:24am
Key psychological level on GU
Above 1.30 Bull below bear.Strong bull support at 1.30 but anything can happen.
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In trading, you have to be defensive and aggressive at the same time
  • #34,615
  • Edited 9:55am Feb 14, 2020 9:25am | Edited 9:55am
UPDATE.CAD. & GBP.
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  • #34,616
  • Feb 14, 2020 9:30am Feb 14, 2020 9:30am
Have an Excellent long weekend!
I closed my UC short with a profit this morning. Caution on the CAD we have pipeline protesters across the Country shutting down rail lines and highways costing millions in lost revenue, and the government doesn't have the guts to arrest or move them. Unbelievable! Locally here on the Island the other day the RCMP actually arrested a citizen who started throwing the protesters junk off of the highway.
https://www.bbc.com/news/world-us-canada-51497143
https://globalnews.ca/news/6533542/v...ockade-arrest/
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,617
  • Feb 14, 2020 9:47am Feb 14, 2020 9:47am
Quoting Romanov102
Have an Excellent long weekend! I closed my UC short with a profit this morning. Caution on the CAD we have pipeline protesters across the Country shutting down rail lines and highways costing millions in lost revenue, and the government doesn't have the guts to arrest or move them. Unbelievable! Locally here on the Island the other day the RCMP actually arrested a citizen who started throwing the protesters junk off of the highway. https://www.bbc.com/news/world-us-canada-51497143 https://globalnews.ca/news/6533542/v...ockade-arrest/...
larger trend is down weekly .IMO this is temporary thing
In trading, you have to be defensive and aggressive at the same time
  • #34,618
  • Feb 14, 2020 10:01am Feb 14, 2020 10:01am
CAD direction might depends on Russia's stance on the production cuts advised by the JTC

Russian Oil Companies beleive that the rouble rate is an important factor in Russia's stance regarding OPEC+ deal; growing oil glut is strengthening the case for Russia to cut oil output in tandem with OPEC, Oil Source.

Are worried regarding the risk of a higher rate due to the planned Sberbank sale.
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  • #34,619
  • Feb 14, 2020 10:59am Feb 14, 2020 10:59am
I think it’s fair to say that buying euro and selling the dollar is next weeks agenda. However every moment in the market is unique and I can completely be wrong. Happy trading. The kiwi and Aussie doesn’t look attractive at the moment very sideways and could go either way imho.

happy trading
  • #34,620
  • Feb 14, 2020 12:04pm Feb 14, 2020 12:04pm
I managed to wiggle out of my DD'd EN position from a few weeks ago with a profit....other than that the week was pretty standard with a 3% profit from my trades this week.
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Thanks everyone! Have a good weekend all.....cheers
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