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Pivot Trading

  • #35,401
  • Mar 15, 2020 3:40pm Mar 15, 2020 3:40pm
EN glad have nothing on it. opening at 84+
Euro is killing it on crosses EG 90+
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In trading, you have to be defensive and aggressive at the same time
  • #35,402
  • Mar 15, 2020 4:11pm Mar 15, 2020 4:11pm
Nice spike up on AN and spike down UC
In trading, you have to be defensive and aggressive at the same time
  • #35,403
  • Mar 15, 2020 4:13pm Mar 15, 2020 4:13pm
Holy shit the Fed cut.
  • #35,404
  • Mar 15, 2020 4:14pm Mar 15, 2020 4:14pm
Quoting SputnikX
Holy shit the Fed cut.
Just saw it.Cool
UC shorts looking good now. I guess Trump threat of removing Powell must of hit a nerve
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In trading, you have to be defensive and aggressive at the same time
  • #35,405
  • Mar 15, 2020 4:28pm Mar 15, 2020 4:28pm
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,088 Posts | Online Now
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We obey the structure that results from the market's reaction
  • #35,406
  • Mar 15, 2020 4:37pm Mar 15, 2020 4:37pm
Hello guys. Actual situation here in Naples. Today +3590 cases in Italy
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  • #35,407
  • Mar 15, 2020 4:43pm Mar 15, 2020 4:43pm
Quoting Davit
{quote} Just saw it.Cool UC shorts looking good now. I guess Trump threat of removing Powell must of hit a nerve {image}
UC at 1.34 soon!!!
  • #35,408
  • Mar 15, 2020 5:14pm Mar 15, 2020 5:14pm
Quoting Davit
Hi guys I need to take a week or two off.Lot going on personal life and trading. Need to recharge myself. My haters will rejoice but its not what they think about you its what you think about yourself. Stay green
Here is what I think about your haters
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  • #35,409
  • Mar 15, 2020 6:59pm Mar 15, 2020 6:59pm
Quoting MrAussieFX
The next few months not looking good for Australia. We understand that COVID-19 is affecting economies around the world in a negative way 1. Airlines (Travel industry) is the biggest to be effected by COVID-19 - Travel bans in place by most of the countries. The oil price will be affected because of fewer flights. 2. Hospitals are and will be affected as new cases arise. Doctors, nurses, and caretakers will be key components during this crisis. 3. Panic buying will still exist for a few months, I guess as more and more extreme measures being put...
As we approach the winter season soon the situation in the southern hemisphere countries can escalate.

A lot more need to be done to protect the children and elderly folks and those with underlying medical conditions. Self-isolation is just one way to minimize social contact and exposure. Every person must play a part in this social responsibility. We cannot rely on the government and the politicians for leadership in this fight.

Stay vigilant among your own closest community where you live. Support one another, share resources, help those who are in home isolation and quarantine.

Trading is the least important now.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #35,410
  • Mar 15, 2020 8:51pm Mar 15, 2020 8:51pm
Quoting emmanuel7788
{quote} Hi Davit You are right: Nothing in trading is new... I know you to be a creative person. We just need to adjust to the changing market type conditions and must adapt vary quickly during times like this when trading spot forex market. During this coronavirus market season, I think traders need to avoid holding open positions over the weekend..i.e. open and close within the same week. I used to hold positions up to two weeks but not anymore in current market conditions. Trading E-Mini Futures, I don't hold my positions overnight. In fact,...

Very true. It's no point in holding trades over the weekend knowing how markets are behaving around the world from the past couple of weeks. However, most of the people are in the "get quick rich scheme" mentality when trading forex and don't fully understand how scalping should be done.

They either over trade, increase their position size or expect 80-100 pip move from a 30-minute chart.

It doesn't matter what we trade Pivot points (Davits way), TMS (Big E's way) or Harmonic Patterns (Scott Carney's way). The things we must implement in our trading are
1. Patience
2. Timing the trade
3. True expectations from the time frame and a chart

Below are some of the charts (Knowing what the overall trend of the market we can avoid the patterns and trades that can lead us into losing trades)

AUDCAD
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AUDUSD
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Best regards
  • #35,411
  • Mar 15, 2020 9:01pm Mar 15, 2020 9:01pm
USDJPY 30 minute

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Trade just got closed by expert advisor
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Best regards
  • #35,412
  • Mar 15, 2020 9:36pm Mar 15, 2020 9:36pm
Hello Pivot Traders
I'm back from my break. I weathered the storm rather well, I made out good on my Indices shorts 3 weeks ago. I took a nice profit and transferred some of the cash out of my account. I've been doing a little day trading on the Dow on 3 minute charts leaving nothing open at the end of the day. It's way too volatile at this point. I took a little hit on EA and EU. I only have one FX position open right now which is a small EC short which I'm monitoring at the moment. I'm still slightly baffled by the Euro staying up there, however the playing field has been leveled now with the race to zero virtually completed. We've all been a little sick here for the past three weeks, so I've just been taking it easy. The only other position I have is a commodity trade. I loaded up on GOLD long contracts on Friday however at this point I'm wondering about the merits of that as it appears Gold has lost its lustre as a safe haven. I'll also monitor that one closely as well. USD appears to be the dominant fake KING currency now. It surged on Friday, and that's why I loaded XAU as it dropped. My line of thought was if the FED cuts rates this week, which they already did today and the USD went down then I thought XAU would go back up. The only thing that's happened now is USD has gone right back to the high on 0%. At this point personally I'd refrain from taking any more FX trades.
Being in the Transportation sector sometimes I hear certain things, plus what I observe. Don't be surprised if The USA and Canada take on the same appearance as Europe in the next few days with nobody going out anywhere except emergency workers. Fill up your vehicles, pickup any medications you might need, and make sure you have enough to Eat. I think the shit is about to hit the fan in the USA and Canada, and soon the streets will be empty. I'm on P.S.T, London opens at midnight my time I'm going to watch that tonight. Stay Safe!
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #35,413
  • Mar 16, 2020 4:29am Mar 16, 2020 4:29am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,088 Posts | Online Now
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We obey the structure that results from the market's reaction
  • #35,414
  • Mar 16, 2020 6:23am Mar 16, 2020 6:23am
This week's economic events expected to affect the markets of some of the most widely traded currencies.

Tuesday, 17th March
02:30: AUD — Monetary Policy Meeting Minutes

Wednesday, 18th March
01:50: JPY — Trade Balance
12:00: EUR — CPI
14:30: CAD — CPI
20:00: USD — Federal Funds Rate
23:45: NZD — GDP

Thursday, 19th March
01:30: JPY — CPI
02:30: AUD — Employment Change
02:30: AUD — Unemployment Rate
Plan your trade and Trade your plan.
  • #35,415
  • Mar 16, 2020 7:27am Mar 16, 2020 7:27am
Romanov102 , in my opinion you are 100% correct !!!!

Coronavirus is a "manufactured event" by 1 Country , CHINA !!!!

The massive hysteria has been created by China , USA , Russia , and OPEC.
All other Countries are simply pawns in this "game".

As Romanov102 stated in his post , "...see how simple this was".

I wish Mohamed El-Arian was President of the USA right now , however , I am glad that Trump is in power rather than Hillary Clinton.

The worst is yet to come , in my opinion.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #35,416
  • Mar 16, 2020 10:16am Mar 16, 2020 10:16am
Quoting GreenEarth
Romanov102 , in my opinion you are 100% correct !!!! Coronavirus is a "manufactured event" by 1 Country , CHINA !!!! The massive hysteria has been created by China , USA , Russia , and OPEC. All other Countries are simply pawns in this "game". As Romanov102 stated in his post , "...see how simple this was". I wish Mohamed El-Arian was President of the USA right now , however , I am glad that Trump is in power rather than Hillary Clinton. The worst is yet to come , in my opinion. GE
The Media and ALL WORLD GOVERNMENTS are blowing this way out of proportion. Flu Deaths in the USA 2017-2018 Season 61,099. Flu Deaths in Italy from 2013 to 2017 68,000 I closed my EC at a loss, Gaps usually fill. This one hasn't for over a week on a parabolic move and I don't think it will after the FED cut to the bone down to zero. I anticipate BOC will follow suit as they have stated their policy is to stay in step with the USA. The carry trade has been wiped out, if Europeans had purchased USD dollars to collect interest they have lost any incentive to hold them now. We know where OIL is heading, down lower without production cuts and drying up demand so that will doom the CAD even further.. They've already started closing Restaurants and bars in several states. I stayed up until 2 am watching the London Markets and XAU was holding at $1,535 just above MS1 I got up @ 5 this morning and it fell off the cliff right after I went to bed. I have a truck loading today ( The first one this year) and the shipper sent new emergency instructions to relay to the driver this morning. They are to remain in vehicle when they get there, and are not allowed in the building or out of the vehicle, The Shipper will open the trailer doors and load the trailer, secure the load, close the doors and seal the trailer, they will then hand the driver his paperwork and after that they are to leave the property immediately. USA government has also suspended the hours of service regulations if a driver has an essential item: food, medicine, grocery, etc they can drive as hard as they want until they get to destination and only then are they required to take a 10 hour break.
https://www.cdc.gov/flu/about/burden/2017-2018.htm
https://www.2oceansvibe.com/2020/03/...-flu-in-italy/
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #35,417
  • Mar 16, 2020 10:28am Mar 16, 2020 10:28am
So far after two limit lock downs on the open this morning. The markets have been slowly going up. On Price Action if the FED is going to buy assets like they said then with interest rates down to zero and the FED buying with their newly printed money we should see the USD start to drop.
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #35,418
  • Mar 16, 2020 10:48am Mar 16, 2020 10:48am
If you're trading USD pairs, keep an eye on indices. In our current condition when DOW falls, dollar rises.

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Trade with confidence, trade without fear.
  • #35,419
  • Mar 16, 2020 12:17pm Mar 16, 2020 12:17pm
NYC
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Plan your trade and Trade your plan.
  • #35,420
  • Mar 16, 2020 8:41pm Mar 16, 2020 8:41pm
CADJPY 30 minute Gartley

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Kindest regards
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