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Pivot Trading

  • #34,721
  • Feb 18, 2020 11:31am Feb 18, 2020 11:31am
Closed GC day results so far
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In trading, you have to be defensive and aggressive at the same time
  • #34,722
  • Feb 18, 2020 11:47am Feb 18, 2020 11:47am
UJ is reaching its range.Something to be aware of.Best after 5pm so you dont pay swap
To clarify if waiting to short after 5pm because there is no liquidity to push this down now and room to go up. Always follow PA
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In trading, you have to be defensive and aggressive at the same time
  • #34,723
  • Feb 18, 2020 11:47am Feb 18, 2020 11:47am
Quoting R61
Loading some shorts on GC {image} Be aware of tomorrow news. {image}
This was quick.
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I may reload on this tomorrow on a bounce.
"In the end you only trade yourself."
  • #34,724
  • Feb 18, 2020 12:05pm Feb 18, 2020 12:05pm
what Impact has Apple ?
11% of Nasdak ?
7,5% od Down Jones ?
5% of S&P ?
not sure if those number are correct

https://www.reuters.com/video/watch/...wa-id680723385
  • #34,725
  • Feb 18, 2020 2:07pm Feb 18, 2020 2:07pm
I believe EU hit weekly bottom.From this point on should rally up
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In trading, you have to be defensive and aggressive at the same time
  • #34,726
  • Feb 18, 2020 2:11pm Feb 18, 2020 2:11pm
Quoting Davit
I believe EU hit weekly bottom.From this point on should rally up {image}
I believe too. I added already to my EU trades.

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  • #34,727
  • Feb 18, 2020 2:22pm Feb 18, 2020 2:22pm
Quoting kleybenny
{quote} I believe too. I added already to my EU trades. {image}
Looks good, I wait for 1.07- 1.06 and then start placing Longs!
  • #34,728
  • Feb 18, 2020 2:36pm Feb 18, 2020 2:36pm
Quoting renkotop
{quote} Looks good, I wait for 1.07- 1.06 and then start placing Longs!
That's milestone away. Personally dont think it will get there. USD is poised to correct
Index at 99.46 then we got that strong psychological 100 not easy to break.

My hunch is Feds will start giving signals of rate cut.It certainly does not help US economy to have strong USD
Will only take few Red numbers. US stocks need cheap flow of USD or entire bubble will collapse

US is not insulated events happening in China.Our stock market basically depends on it.Only way to get it going or prevent a collapse is pump more dollars.

great post by our friend PPXDF here
Quoting ppxdf
what Impact has Apple ? 11% of Nasdak ? 7,5% od Down Jones ? 5% of S&P ? not sure if those number are correct https://www.reuters.com/video/watch/...wa-id680723385
In trading, you have to be defensive and aggressive at the same time
  • #34,729
  • Feb 18, 2020 3:31pm Feb 18, 2020 3:31pm
EG H4 Pending ABCD. Interesting look at the USD against many other countries and see how strong it is against them, and then look at the USD MXN and see how strong the Peso is against the USD.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,730
  • Edited 12:42am Feb 19, 2020 12:09am | Edited 12:42am
Building a position on NJ
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Inflation and PMI data out for JPY on Friday and some NZD data to be released next week....could be slow burn but the swap is positive.

I'm also short UJ as a short term trade for FOMC.
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  • #34,731
  • Feb 19, 2020 12:19am Feb 19, 2020 12:19am
Closed GC and added some to my account.
Flying to Moscow today for couple of days so I think that's it for me this week.
Have a great week what's left of it and tremendously good weekend

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  • #34,732
  • Feb 19, 2020 2:03am Feb 19, 2020 2:03am
Eventually banked some profits on GC.

With these wild and sudden swings on pound you never know, in case I'll reload.
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Porta itineris dicitur longissima esse
  • #34,733
  • Edited 3:38am Feb 19, 2020 3:19am | Edited 3:38am
Quoting bubincka
Sometimes I close early leaving on the table too much. In this case the exact opposite happened, I decided to hold on my GC short and even if UK wages missed the forecast, pair went up 60 pips against me. Truth to be told looking at PA on M30 you can see long lower wicks, a clear bullish signal that I ignored targeting WS38. Atm major pair GU is between WPP and 1.30. {image}
Talking about pips left on the table.

It happens, that's the market.
And only half an hour later after very good UK CPI data pound is rocking again, let's get ready to short it again.
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Porta itineris dicitur longissima esse
  • #34,734
  • Feb 19, 2020 3:22am Feb 19, 2020 3:22am
Quoting GreenEarth
Hi guys , short USD/CAD at 1.3260. IMO , oil is ripe for a weekly correction. Regards , GreenEarth
Exited trade at 1.3234 at S38.
Could have had a better entry at WPP of 1.3305/1.3327 last week at R38/R61 , wasn't paying close enough attention.
These "lost" pips add up to plenty of "lost" dollars over the course of a year.
Oil rise in price appears to have paused at the moment.
Looking for oil to break and close above R38 of $52.40 on a DAILY CHART this week or early next week.
Target price for USD/CAD re-entry 1.3250.
Target price for near term is 1.3195 (S78)

Green Pips To All ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #34,735
  • Feb 19, 2020 5:08am Feb 19, 2020 5:08am
UK inflation numbers jumped slightly up +0.2
Market did not care
interesting highest number Dec 2017 3.1 and GU was around 24

Its not that important BOE already kept rate the same.Data is lagging 1 month.It will be lot different after Virus effects

UJ is in the zone
In trading, you have to be defensive and aggressive at the same time
  • #34,736
  • Feb 19, 2020 6:16am Feb 19, 2020 6:16am
Watching AC for longs.
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CJ on watchlist too.
"In the end you only trade yourself."
  • #34,737
  • Edited 7:55am Feb 19, 2020 7:16am | Edited 7:55am
GBP
Despite slightly positive CPI results for pound
I believe that it was still not enough to set the upside direction for GBP,
I will wait for the results of retail sales tomorrow,
events GBP tomorrow
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In terms of Sentiment, itīs still RED across-the-board 4 hours after CPI was released,
GMT TIME: 13:11
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CPI. just released
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retail sale tomorrow
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Markit PMI
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  • #34,738
  • Feb 19, 2020 8:31am Feb 19, 2020 8:31am
USD surging higher this morning, perhaps those in the know would like better positions prior to FOMC. I entered some US$ index shorts yesterday, a little negative at the moment. Glad I dumped my UJ short position on Monday with a small loss on Yen data that was a miss. I took some CJ longs and that worked nice. Why the CAD is the strong currency of the week is absolutely beyond me.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,739
  • Feb 19, 2020 8:49am Feb 19, 2020 8:49am
Shorting UJ and CJ - not aiming for a big gain ( ADR 250% )
Money is a part of what turns you into who you are.
  • #34,740
  • Feb 19, 2020 8:54am Feb 19, 2020 8:54am
Quoting Romanov102
USD surging higher this morning, perhaps those in the know would like better positions prior to FOMC. I entered some US$ index shorts yesterday, a little negative at the moment. Glad I dumped my UJ short position on Monday with a small loss on Yen data that was a miss. I took some CJ longs and that worked nice. Why the CAD is the strong currency of the week is absolutely beyond me. {image} {image}
2 Reasons. Still good numbers in respect of other pairs and Oil moving up - We did have a pullback from Fridays low which peaked yesterday. At the end of the day both the USD and the CAD are still posting reasonable numbers compared to all the other currencies and there current states. Remember the $ Index is a 70% weighting with the Euro and if that is NOT recovering don't expect the dollar index to come off significantly. The only things that will help the Euro is FISCAL expansion i.e.SPENDING
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