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Pivot Trading

  • #35,721
  • Mar 24, 2020 9:30am Mar 24, 2020 9:30am
Closed ECmy daily goal of 1k achieved and exceeded !done for today for now
Below also 2day of trading 3k covers for weds
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In trading, you have to be defensive and aggressive at the same time
  • #35,722
  • Mar 24, 2020 9:49am Mar 24, 2020 9:49am
Going to wait for majors to become attractive to buy EU GU main focus
In trading, you have to be defensive and aggressive at the same time
  • #35,723
  • Mar 24, 2020 9:51am Mar 24, 2020 9:51am
Quoting MoneyTalks58
I am on eur short side. I guess at least until tomorrow evening based on european time, they will drop if i am right.
drop what
In trading, you have to be defensive and aggressive at the same time
  • #35,724
  • Mar 24, 2020 10:02am Mar 24, 2020 10:02am
With FEds helping the markets Crude is going higher thus CAD should appreciate hence UC shorts should be kept and EC should be considered on short side on rallies
In trading, you have to be defensive and aggressive at the same time
  • #35,725
  • Mar 24, 2020 10:03am Mar 24, 2020 10:03am
Quoting Romanov102
First trade of the day Dow opened after lock limit up. I bought after a few green candles. The Fed is swooping in and buying with the fake money they printed that's Hot off the press. Long from 19921.30 NO Limit just using a trailing stop. The dotted Turquoise cross is where it opened. {image}
I'm on dow as well.
  • #35,726
  • Mar 24, 2020 10:06am Mar 24, 2020 10:06am
Quoting Davit
{quote} drop what
i sold ea and eg.
  • #35,727
  • Mar 24, 2020 10:08am Mar 24, 2020 10:08am
closed more EG
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In trading, you have to be defensive and aggressive at the same time
  • #35,728
  • Mar 24, 2020 10:10am Mar 24, 2020 10:10am
Quoting MoneyTalks58
{quote} i sold ea and eg.
Not touching EA cost me thousands on that spike well before the big spike....spike nevertheless
I can trade well and still make money without touching EA EN until virus is over.Last thing I need is blow my hard work trying to build an account up
In trading, you have to be defensive and aggressive at the same time
  • #35,729
  • Mar 24, 2020 10:17am Mar 24, 2020 10:17am
Quoting MoneyTalks58
{quote} Hi davit do you close also when price touches 21 ema. For instance price broke the 21 ema before, through downside. And then upmove again. If we entered short when previous break, should we have closed the Position after counter move ? I mean if we sold before, had it been a wrong one?
Here is a live example what you were trying to say. Yes as long as MA's above Price I hit it again short in this case EC larger swing is down.Will not do it cross the board
I think its core principle of Choros (dance)trading system but its risky.I only do it when I am confident with fundies and where pivots are.
Some traders only take second "wave" because they need "confirmation" its flawed logic but just sharing it.

My brain is wired based on probabilities and sound trading principles. Main swing is where the action was EC dropping from almost 58 to 56 is main thrust later you are experiencing the ripple effects.That can go opposite direction for good chunk so no such a thing as "confirmation" somehow think that terminology is antithesis to trading.Nothing in trading is certain everything is probabilities.
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In trading, you have to be defensive and aggressive at the same time
  • #35,730
  • Mar 24, 2020 10:18am Mar 24, 2020 10:18am
Quoting pipmaster77
{quote} I'm on dow as well.
I was on it Fed didn't spend enough it ran out of momentum and intersected my trailing stop for a minor loss.
Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #35,731
  • Mar 24, 2020 10:20am Mar 24, 2020 10:20am
Quoting Davit
{quote} Here is a live example what you were trying to say. Yes as long as MA's above Price I hit it again short in this case EC larger swing is down.Will not do it cross the board I think its core principle of Choros (dance)trading system but its risky.I only do it when I am confident with fundies and where pivots are. {image}
I got it thank you.
  • #35,732
  • Mar 24, 2020 10:36am Mar 24, 2020 10:36am
Quoting bubincka
I'd like to share my reflections trading weekly pivots on the last period and and listen to your comments. Weekly Pivot strategy has worked well for me in the last two years. In the latest months I suffered big losses making me doubt the strategy in itself. I've come to the conclusion that the strategy works very well when in the markets there is a "normal" volatility and conditions. In exceptional periods like this one when there's no mean reversion at all for a prolonged time, when we see 600-700 pips candles on H4 TF for EA and more than 1,000...
You should be in nice profits on AN if still holding.I got out yesterday.
In trading, you have to be defensive and aggressive at the same time
  • #35,733
  • Mar 24, 2020 10:38am Mar 24, 2020 10:38am
Quoting Davit
{quote} drop what
We obey the structure that results from the market's reaction
  • #35,734
  • Mar 24, 2020 10:39am Mar 24, 2020 10:39am
EU daily open watch it.Maybe good spot building longs
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In trading, you have to be defensive and aggressive at the same time
  • #35,735
  • Mar 24, 2020 10:53am Mar 24, 2020 10:53am
previous 2 weekly candles closed at around 5350 lower probably just eye balled it.Point is this is heading south
Got out of EG early....
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In trading, you have to be defensive and aggressive at the same time
  • #35,736
  • Mar 24, 2020 11:16am Mar 24, 2020 11:16am
Our future here is still black, with no hope that things will improve in the short term...
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"The freedom of the other extends mine to infinity"
  • #35,737
  • Mar 24, 2020 11:30am Mar 24, 2020 11:30am
Quoting Davit
{quote} You should be in nice profits on AN if still holding.I got out yesterday.
Hi Davit,

keeping into account the extreme volatility of the markets I exited on 20.03 for a decent profit.

I don't like this pair and more in general I'm trying to adapt my trading to recent fast market conditions holding positions for a less time.

Currently short on UC, EC, long on CJ and considering to short UJ if eventually USD will weaken.
Porta itineris dicitur longissima esse
  • #35,738
  • Mar 24, 2020 11:31am Mar 24, 2020 11:31am
Thank you very much Davit, now it works. I am here to learn. I come from Germany and have been affected by a contact ban since Sunday.
the highest point comes before the fall
  • #35,739
  • Mar 24, 2020 11:48am Mar 24, 2020 11:48am
Interesting to see what happens when unemployment is at 1.500K. Fasten your seat belt.
And this will be just the beginning of the recession!!!
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  • #35,740
  • Mar 24, 2020 12:03pm Mar 24, 2020 12:03pm
UJ watch
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In trading, you have to be defensive and aggressive at the same time
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