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Pivot Trading

  • #34,741
  • Feb 19, 2020 8:14am Feb 19, 2020 8:14am
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...
And 111 hit.
Everyone can see the chart, but only a few can actually read it.
  • #34,742
  • Feb 19, 2020 8:16am Feb 19, 2020 8:16am
I missed the spike on the USD/CAD early this morning to reload from 1.3240 , but , I just caught the short side from 1.3250 , out at S38 @ 1.3235.
I based my UC trades thus far this week solely on oil bouncing off of S61 @ $49.50 and the bounce off of R38 1.3270 by this pair.
Yes , I was totally aware of the News on Canadian CPI coming out this morning , however , it is absolutely uncanny what this pair will do when the PP of oil and the PP of this pair align.
Skippyone added more detail for other reasons for the behaviour of this pair as well.
Tomorrow's Crude numbers will be interesting.
Still leaving too many pips on the table though.
Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #34,743
  • Feb 19, 2020 8:36am Feb 19, 2020 8:36am
AC ABCD on H1
I have my eye on AC and EC. CAD is strong this week. Data was good. Yet you may have a different view if you were living here. Our National debt has grown 25% in 4 years, we had 63,000 illegal migrants last year mostly African walking into Canada from the USA. Our Socialist government is putting them up in hotels and giving them welfare cheques instead of deporting them straight back to Africa. Trade is down substantially with China over the arrest of the Huawei CFO last year. The last few weeks we've had blockades on highways and railroads by American funded Millennial Eco Terrorists. The Police and the Leftist wingnut Government hasn't grabbed the bull by the horns and arrested everyone of them. Instead we've had millions in lost commerce and goods unable to get to market. Jobs are very difficult to get up here and hundreds of thousands of skilled people have no work. But it's all good!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ACDPH1100220.png Size: 115 KB
Click to Enlarge Name: Trump Trudeau.png Size: 715 KB
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,744
  • Feb 19, 2020 8:47am Feb 19, 2020 8:47am
We could see surge of Euro after the Feds
EG pointing up
In trading, you have to be defensive and aggressive at the same time
  • #34,745
  • Feb 19, 2020 8:48am Feb 19, 2020 8:48am
Quoting OnlineAddict
{quote} And 111 hit.
Its not what you predicted its if you were on it

We got people here FF with charts literally with 100's of lines on them and sure enough one of them touches price then entire cosmos agrees
Question then I ask myself "was this guy on it?"
If you can not put money on your convictions then rest is useless.Exercise in ego
In trading, you have to be defensive and aggressive at the same time
  • #34,746
  • Feb 19, 2020 9:27am Feb 19, 2020 9:27am
Loaded 3 CFD shorts last night , I just added another 3.
Attached Image (click to enlarge)
Click to Enlarge Name: USD DPH4190220.png Size: 110 KB
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #34,747
  • Feb 19, 2020 9:41am Feb 19, 2020 9:41am
Great thread !!! thanks Davit and all contributors! I grabbed a number of longs last 2 days for EUR/GBP looks like ready for massive rally through 2020 - target 1.07 - with the pound to get hammered - Euro to rebound or / go down slower and USD to go 1.10 for US election.. I know this thread is not for forecast, however wanted to share some thoughts on what I believe is going to be a fantastic year to trade - PS. I use only the pivots and price action. and it's working out great!... Good luck all for 2020 the real action is soon to start. Since back with pivots averaging 20-30% per month gain.
  • #34,748
  • Edited 9:54am Feb 19, 2020 9:43am | Edited 9:54am
Quoting atraderfx
Great thread !!! thanks Davit and all contributors! I grabbed a number of longs last 2 days for EUR/GBP looks like ready for massive rally through 2020 - target 1.07 - with the pound to get hammered - Euro to rebound or / go down slower and USD to go 1.10 for US election.. I know this thread is not for forecast, however wanted to share some thoughts on what I believe is going to be a fantastic year to trade - PS. I use only the pivots and price action. and it's working out great!... Good luck all for 2020 the real action is soon to start. Since...
Just put your charts where your post is, 20-30% gain per month impressive.
We obey the structure that results from the market's reaction
  • #34,749
  • Feb 19, 2020 9:47am Feb 19, 2020 9:47am
For usd short trades the only think that confuses me is the movement of precious metal. Xauusd and xagusd are beyond the R3 before fomc.
  • #34,750
  • Feb 19, 2020 9:48am Feb 19, 2020 9:48am
71 viewers
35 members
10 invisible ( none members )

We obey the structure that results from the market's reaction
  • #34,751
  • Feb 19, 2020 9:59am Feb 19, 2020 9:59am
Waiting for FOMC
May the Force be with you.
  • #34,752
  • Feb 19, 2020 10:05am Feb 19, 2020 10:05am
Quoting Josti
Waiting for FOMC
should be dovish
  • #34,753
  • Feb 19, 2020 10:13am Feb 19, 2020 10:13am
Spent 30 min on rowing machine 5km
feel good now clears the mind
Thurs Fri key Euro GBP data coming out will hold EG longs
In trading, you have to be defensive and aggressive at the same time
  • #34,754
  • Feb 19, 2020 10:16am Feb 19, 2020 10:16am
Quoting Josti
Waiting for FOMC
UJ should decline after
huge impulse move has at least 30% correction in it
In trading, you have to be defensive and aggressive at the same time
  • #34,755
  • Feb 19, 2020 10:30am Feb 19, 2020 10:30am
Quoting Egbert
71 viewers 35 members 10 invisible ( none members )
Egbert, what is your message?
  • #34,756
  • Feb 19, 2020 10:32am Feb 19, 2020 10:32am
Quoting renkotop
{quote} Egbert, what is your message?
Just stats. It's very interesting.
We obey the structure that results from the market's reaction
  • #34,757
  • Feb 19, 2020 10:36am Feb 19, 2020 10:36am
Quoting Davit
{quote} UJ should decline after huge impulse move has at least 30% correction in it
I would say it's heading towards 110.50 after FOMC when a corrections happens. But maybe I'm wrong, anything can happen.
May the Force be with you.
  • #34,758
  • Feb 19, 2020 10:52am Feb 19, 2020 10:52am
UJ move looks like BOJ intervention. Its way too strong for regular funds
They have done many times before almost 4x adr
Its like desperate attempt to reach 1.12 in a hurry that takes billions
In trading, you have to be defensive and aggressive at the same time
  • #34,759
  • Feb 19, 2020 11:08am Feb 19, 2020 11:08am
Quoting Davit
UJ move looks like BOJ intervention. Its way too strong for regular funds They have done many times before almost 4x adr Its like desperate attempt to reach 1.12 in a hurry that takes billions
shame i'm on the wrong side of it

Im tempted to cut and run and still keep 1% for the week

Edit - I'm keeping it...it will come back down sooner or later
Attached Image
  • #34,760
  • Feb 19, 2020 11:19am Feb 19, 2020 11:19am
Quoting russian30
{quote} shame i'm on the wrong side of it Im tempted to cut and run and still keep 1% for the week Edit - I'm keeping it...it will come back down sooner or later {image}
Holding on for hope isn’t a strategy. Once UJ blasted thru the r100 level meant a sign of further upside could be in store. That level was also a previous high that it soundly rejected.
Trade with confidence, trade without fear.
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