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Pivot Trading

  • #35,001
  • Feb 27, 2020 4:11pm Feb 27, 2020 4:11pm
Got out of my AC. Like others, I am also in DD on EA. Still up 23% this month.
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  • #35,002
  • Feb 27, 2020 4:23pm Feb 27, 2020 4:23pm
Quoting 1pipperhour
{quote} By the looks it's going for .667-.670
It's more than clear now that EA goes to 1.68 and further. I can't see a fast drop here. Fast push up more likely to happen.
  • #35,003
  • Feb 27, 2020 4:44pm Feb 27, 2020 4:44pm
EA 6750, good time to start selling into next week. AU bank meeting next week, rates are staying, AU will go up, EU might either slow down or correct a bit(still expecting more up tomorrow), so an ideal EA short.
Everyone can see the chart, but only a few can actually read it.
  • #35,004
  • Feb 27, 2020 7:15pm Feb 27, 2020 7:15pm
I understand a lot of people here including myself place small orders while trading pivots and harmonics.

Below is an indicator that we can use to show the average price on our charts.

Attached File(s)
File Type: mq4 Show_AverageEntryPrice.mq4   8 KB | 642 downloads

Attached File(s)
File Type: ex4 Show_AverageEntryPrice.ex4   20 KB | 542 downloads


Best regards
  • #35,005
  • Feb 27, 2020 10:57pm Feb 27, 2020 10:57pm
Quoting 1pipperhour
{quote} It's more than clear now that EA goes to 1.68 and further. I can't see a fast drop here. Fast push up more likely to happen.
Closed all my last EA positions to preserv capital. It's gone through the roof and has all the room to go even higher. Ordinary rules do not apply here atm.
  • #35,006
  • Feb 28, 2020 12:19am Feb 28, 2020 12:19am
Quoting 1pipperhour
{quote} Closed all my last EA positions to preserv capital. It's gone through the roof and has all the room to go even higher. Ordinary rules do not apply here atm.
I did the same, preservation of capital is my main goal. The fundamentals are completely against aud and all currencies related to commodities. Giving little weight to coronavirus is unconscious and unfortunately there is a good chance that the world will go into recession in the coming months. Yes ok aud is at lows but can stay for months or even can break the 2008 levels.
Trade What's Happening... Not What You Think Is Gonna Happen
  • #35,007
  • Feb 28, 2020 1:48am Feb 28, 2020 1:48am
Quoting 1pipperhour
{quote} Closed all my last EA positions to preserv capital. It's gone through the roof and has all the room to go even higher. Ordinary rules do not apply here atm.
Same for me.

I've registered heavy losses, main capital preserved so next months are there to recover.
Porta itineris dicitur longissima esse
  • #35,008
  • Feb 28, 2020 2:43am Feb 28, 2020 2:43am
i may be different, holding EA and EN shorts, swap positive, managing positions for exit. i believe recent market moves based on emotions and MM managing positions. euro economy will be hit close or same as australias and new zealand, and all globe of course
  • #35,009
  • Feb 28, 2020 2:55am Feb 28, 2020 2:55am
Quoting suirad0
i may be different, holding EA and EN shorts, swap positive, managing positions for exit. i believe recent market moves based on emotions and MM managing positions. euro economy will be hit close or same as australias and new zealand, and all globe of course
Maybe you're right (I hope). But... in the 2008 crisis EA has flown for 40.000 pips and EU in the 2017 has flown until 1.25 from this levels.
Trade What's Happening... Not What You Think Is Gonna Happen
  • #35,010
  • Feb 28, 2020 2:55am Feb 28, 2020 2:55am
Quoting suirad0
i may be different, holding EA and EN shorts, swap positive, managing positions for exit. i believe recent market moves based on emotions and MM managing positions. euro economy will be hit close or same as australias and new zealand, and all globe of course
And you may well be right.

I've a trading plan that I follow with military discipline, when I reach my predefined loss amount I cut 25%, 50% if not all positions.
Porta itineris dicitur longissima esse
  • #35,011
  • Feb 28, 2020 3:07am Feb 28, 2020 3:07am
Quoting bubincka
{quote} And you may well be right. I've a trading plan that I follow with military discipline, when I reach my predefined loss amount I cut 25%, 50% if not all positions.

it is always good to maintain a healthy Margin Level% by closing some oldest positions and free up some of your money deposited with your broker so that you can take some more positions when the price opportunity arises.
Some traders keep a 1000% Margin Level as their threshold level and not let that drop below 1000%.
In fast moving market like EA, EC and EN this week your Margin can be depleted very fast when you hold on to too many sell positions.
You don't want to be stressed out when your MarginLevel fall to 200%...
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,012
  • Feb 28, 2020 3:30am Feb 28, 2020 3:30am
Quoting OnlineAddict
EA 6750, good time to start selling into next week. AU bank meeting next week, rates are staying, AU will go up, EU might either slow down or correct a bit(still expecting more up tomorrow), so an ideal EA short.
Another short not before 7000, no need to rush in. I would target 6500.
Everyone can see the chart, but only a few can actually read it.
  • #35,013
  • Feb 28, 2020 4:12am Feb 28, 2020 4:12am
Quoting suirad0
i may be different, holding EA and EN shorts, swap positive, managing positions for exit. i believe recent market moves based on emotions and MM managing positions. euro economy will be hit close or same as australias and new zealand, and all globe of course
I hope it plays out well for you also.
I closed last trade almost 100 pips ago. I personally can't see any reason to hold besides hope and hope doesn't fit into my trading anymore. There's no resistance on the left. Some fundamental reason could drive this baby back down, but I can always short it then. Every pair is driven into extreme because of this virus. This kind of event hasn't happened in my trading career so I don't know how market eventually reacts. This panic and measures countrys are taking will effect every economic field starting from tourism.

I will let this month end and see from there.
  • #35,014
  • Feb 28, 2020 5:26am Feb 28, 2020 5:26am
Closed EA, took a 10% hit....as laid out in my trading plan.....will recoup no sweat once this fear and hype dies down.....which it will
  • #35,015
  • Feb 28, 2020 6:15am Feb 28, 2020 6:15am
Hi guys
Its bloodbath,(dow worse drop since 2008)Market is obviously going extreme AJ NJ are wow no words.... EA no words...
Obviously nobody could have predicted such extreme numbers for what is basically a type of flu.Regular flu kills more people every year...
Have we reached the top? Dont know and nobody else as well except the assholes who push price with deep packets major banks.
Situation like this well obviously Pivots are not effective nothing is.
Lets see if Cad can show green
https://www.usnews.com/news/health-n...10-000-the-flu
"Influenza has already taken the lives of 10,000 Americans this season, according to the U.S. Centers for Disease Control and Prevention. At least 19 million have caught the flu, and an estimated 180,000 became so ill they landed in the hospital."

10k already died on regular flu in US

added some funds to account to withstand it.If you lost money if any consolation almost everyone has...
In trading, you have to be defensive and aggressive at the same time
  • #35,016
  • Feb 28, 2020 6:26am Feb 28, 2020 6:26am
20/20 is beautiful thing wished we waited..... AJ NJ are poised to rebound like 300+pips north.

I am sorry that you might have lost money. I took losses as well.Its trading and we are in unique historical event the type market has no recent experience.
WE lost the battle but we are going to win the war by the end of 2020

Just look at my signature and feel better
In trading, you have to be defensive and aggressive at the same time
  • #35,017
  • Feb 28, 2020 6:33am Feb 28, 2020 6:33am
Quoting Davit
20/20 is beautiful thing wished we waited..... AJ NJ are poised to rebound like 300+pips north. I am sorry that you might have lost money. I took losses as well.Its trading and we are in unique historical event the type market has no recent experience. WE lost the battle but we are going to win the war by the end of 2020
Agreed. All of these pairs that took off, will pull back. Some are doing so now so just have stay frosty.
Trade with confidence, trade without fear.
  • #35,018
  • Feb 28, 2020 6:37am Feb 28, 2020 6:37am
Quoting Cryptosurf
{quote} Agreed. All of these pairs that took off, will pull back. Some are doing so now so just have stay frosty.
set up was perfect and I fell for it like many others Italy cases and closure of two regions I thought Euro might get hit! Well obviously Banks decided to crash everyone who thought...that. Shows how little Italy matters on the Euro.Right now its basically Germany running the show even French numbers are dismissed.
Euro thrust obviously was good trap by the banks.Feds need to show some dovish signals to stabilize the Wall Street or much worse to be expected.
Market needs cheap dollars now.
In trading, you have to be defensive and aggressive at the same time
  • #35,019
  • Feb 28, 2020 6:56am Feb 28, 2020 6:56am
We need the Loonie bird of Canada to show some green
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #35,020
  • Feb 28, 2020 7:01am Feb 28, 2020 7:01am
on positive note -2k on DD last 1hr
In trading, you have to be defensive and aggressive at the same time
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