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  • #36,441
  • Edited 5:04am Apr 12, 2020 3:51am | Edited 5:04am
Quoting TraderR0N
{quote} Hi Davit, GBPUSD - Stops Hunts price around 1.24800 - 1.25000 which is near to Weekly Pivot R61. Sellers should be waiting there to go south. I have sold this pair between this prices. EURGBP - Stops Hunts price around 0.87400 - 0.87500 which is near to Weekly Pivot S38. Buyers should be waiting there to go north. I have bought this pair between this prices. EURUSD - Stops Hunts price around 1.09500 - 1.10000. Sellers should be waiting there to go south. I will sell this pair between this prices. Hopes it helps all Pivot traders. Great thread...
Happy Easter Day to Davit and everyone.

Some heads up for some pairs below to start the new week. Patience is needed and will be rewarded.

Trade Idea.

EURAUD - I will be looking to buy this pair next week heading north area. AUDUSD, AUDJPY and AUDNZD heading south soon.

EURNZD - I will be looking to buy this pair next week heading north area. NZDUSD, NZDJPY and NZDCAD heading south soon.

USDCAD - 1.36000 - 1.34500 level can be reached next week and buyers will be waiting there for a 3 levels up to north area.

For those who trade Gold and Silver.

XAUUSD ( Gold ) $1750 can be reached before pullback can happen for sellers to comes in.

XAGUSD ( Silver ) $17.00 can be reached before pullback can happen for sellers to comes in.

I always stress that markets does not move in straight line and pullbacks will happen soon. Hope I can contribute some trades idea for pivot traders here to see where are the weekly pivot levels for buying and selling.

Have a great weekends everyone.
Stay safe, Stay healthy, stay indoor wear
10% buy 10% sell 80% waiting
  • #36,442
  • Apr 12, 2020 4:04am Apr 12, 2020 4:04am
Quoting TraderR0N
{quote} Happy Easter Day to Davit and everyone. Some heads up for some pairs below to start the new week. Patience is needed and will be rewarded. Trade Idea. EURAUD - I will be looking to buy this pair next week heading north area. AUDUSD, AUDJPY and AUDNZD heading south soon. USDCAD - 1.36000 - 1.34500 level can be reached next week and buyers will be waiting there for a 3 levels up to north area. For those who trade Gold and Silver. XAUUSD ( Gold ) $1750 can be reached before pullback can happen for sellers to comes in. XAGUSD ( Silver ) $17.00...
Good morning,

agree with your Analysis.
I also see NZD to the south.
Best regards,
Renko
  • #36,443
  • Apr 12, 2020 4:12am Apr 12, 2020 4:12am
Quoting Davit
Calendar events for week 13-17 Overview After the feds massive stimuli packages USD took a beating pushing most majors on the edges of their respected swing tops.This presents couple of scenarios continued USD weakness against her peers or corrections return of USD bulls.As we already know from Elliot Wave theory Price usually does not go straight line. I personally anticipate USD bulls returning and corrections are more likely then not. This week is heavy on commodity pairs AUD, CAD and focus will be on it specially the CAD which I frequently trade...
i BELIEVE THE DOWNGRADE WILL ALSO HAVE AN IMPACT.
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We obey the structure that results from the market's reaction
  • #36,444
  • Edited 5:53am Apr 12, 2020 5:42am | Edited 5:53am
Quoting Egbert
{quote} i BELIEVE THE DOWNGRADE WILL ALSO HAVE AN IMPACT. {image}
That heading is misleading
S&P upholds AAA rating but may downgrade next 2years due to Virus.
https://www.reuters.com/article/us-a...-idUSKBN21Q04G

"S&P affirmed Australia’s prized rating but said a downgrade was possible within the next two years if the economic damage from the COVID-19 outbreak is more severe or prolonged than it currently expects. "

This came out Weds and had no effect on AUD if anything she got stronger
In trading, you have to be defensive and aggressive at the same time
  • #36,445
  • Apr 12, 2020 5:51am Apr 12, 2020 5:51am
Quoting TraderR0N
{quote} Happy Easter Day to Davit and everyone. Some heads up for some pairs below to start the new week. Patience is needed and will be rewarded. Trade Idea. EURAUD - I will be looking to buy this pair next week heading north area. AUDUSD, AUDJPY and AUDNZD heading south soon. EURNZD - I will be looking to buy this pair next week heading north area. NZDUSD, NZDJPY and NZDCAD heading south soon. USDCAD - 1.36000 - 1.34500 level can be reached next week and buyers will be waiting there for a 3 levels up to north area. For those who trade Gold and...
Great trading ideas like to ADD GC south as well to the list.

Its given trades will be taken with confirmation of market behavior as CNtrader likes to say!

Enjoy the holiday
In trading, you have to be defensive and aggressive at the same time
  • #36,446
  • Apr 12, 2020 7:25am Apr 12, 2020 7:25am
Not looking good for CAD

Saudis Delay Crude Pricing Decision as Oil-Cut Talks Drag On
https://www.bloomberg.com/news/artic...-talks-drag-on

I hope Mexico and OPEC reach a deal....saga continues.

If Saudis announce their pricing tomorrow then that would be great for oil industry.

"State producer Saudi Aramco is now set to decide on and announce pricing for its May crude exports on Monday, according to a person with knowledge of the situation. Aramco had planned to issue official selling prices, or OSPs, on April 5. It delayed the release to give producers time to discuss output cuts amid a coronavirus-induced collapse in demand.
This is the third time that Aramco has postponed the pricing decision as Saudi Arabia continues talks with Mexico, the last hold-out to an output deal. Global producers reached a tentative agreement on Thursday to curb 10 million barrels a day in an effort to stem a plunge in crude prices."
In trading, you have to be defensive and aggressive at the same time
  • #36,447
  • Apr 12, 2020 7:43am Apr 12, 2020 7:43am
Quoting Davit
Not looking good for CAD Saudis Delay Crude Pricing Decision as Oil-Cut Talks Drag On https://www.bloomberg.com/news/artic...-talks-drag-on I hope Mexico and OPEC reach a deal....saga continues. If Saudis announce their pricing tomorrow then that would be great for oil industry. "State producer Saudi Aramco is now set to decide on and announce pricing for its May crude exports on Monday, according to a person with knowledge...
The UC is at a solid support level right now. I view this as my edge. Fundamentally , oil has to have a massive rebound in order to have a positive impact on the CAD , and in this current climate , strengthening of the price of oil is not guaranteed to even motivate traders to buy the CAD then.
I believe that there is a high probability that we will see the UC re-visit the 1.4250 area this week
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"Define the risk OUT of your trade"--Mark Douglas
  • #36,448
  • Apr 12, 2020 7:53am Apr 12, 2020 7:53am
idiotic thing about this saga is that world is running out of storage for excess oil now being stored inside tankers
Even without cuts there is no room to store it so production must be cut due to fact nowhere to put it.Its pointless for Mexico to fight it because they have to end up cutting anyway.
In trading, you have to be defensive and aggressive at the same time
  • #36,449
  • Apr 12, 2020 7:56am Apr 12, 2020 7:56am
Quoting GreenEarth
{quote} The UC is at a solid support level right now. I view this as my edge. Fundamentally , oil has to have a massive rebound in order to have a positive impact on the CAD , and in this current climate , strengthening of the price of oil is not guaranteed to even motivate traders to buy the CAD then. I believe that there is a high probability that we will see the UC re-visit the 1.4250 area this week{image}
unless Saudis announce their price cuts tomorrow
talks still going so deal is possible
In trading, you have to be defensive and aggressive at the same time
  • #36,450
  • Apr 12, 2020 8:16am Apr 12, 2020 8:16am
One of my fave shows

This was filmed decade ago
Double dipping my fav
Inserted Video
In trading, you have to be defensive and aggressive at the same time
  • #36,451
  • Apr 12, 2020 10:27am Apr 12, 2020 10:27am
Quoting Davit
{quote} unless Saudis announce their price cuts tomorrow talks still going so deal is possible
I can't see anymore price cuts but smarter people than me might know the answer.
I think that the Saudi's have already acknowledged that their "experiment failed miserably". In my mind , "What were they thinking , unless POTUS has a backroom deal with them which will help the US "big time" until this economic setback is over. The entire World MUST HAVE low energy prices to get "back on its feet for the forseeable future" The bright side of all of this is we all know that Canada , US , and Mexico MUST stick together like glue and re-establish a solid manufacturing base within our own hemisphere. NO MORE FOREIGN AID AT ALL UNTIL OUR OWN 3 COUNTRY'S ECONOMY'S ARE STABLE.
In addition , much more emphasis has to be on the development of wind and solar power generation. Germany is WAY AHEAD of the World in this technology.
Happy Easter to All ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,452
  • Apr 12, 2020 1:04pm Apr 12, 2020 1:04pm
Quoting Davit
idiotic thing about this saga is that world is running out of storage for excess oil now being stored inside tankers Even without cuts there is no room to store it so production must be cut due to fact nowhere to put it.Its pointless for Mexico to fight it because they have to end up cutting anyway.
https://www.bloomberg.com/news/artic...-oil-price-war

Mexico has various reasons why they are holding out. The Populist President AMLO's centerpiece is the efforts to become self-sufficient in energy generation; therefore, any reduction in production would be counterproductive to reaching that goal. He puts his goals for Pemex (Mexico's national oil producer) over anything else OPEC wants. Has been against status-quo since day one and is against the rich and powerful as he holds tight with his "Mexico's poor, underprivilaged, and country comes first." He has yet to go oversees or hold a multilateral meeting maybe because he is still selling the Presidential plane and refuses private jets. AMLO is a simple guy, to say the least, although his decisions have been...well anti-status-quo...like his debacle with the Health Department, resisting to enact lockdown measures (here in MX really seems like there is no pandemia). Not to mention, the number for COVID-19 Cases and deaths being grossly under the actual data because of how they are being handled.

Trump has agreed to cover for 250,000 barrels a day for Mexico possibly helping reach the deal. Was this planned...re-election Trump to the rescue? Or is this an "Amigo...you owe me" kind of deal.

Regardless will be looking to UC longs...just as AUD plummets. Have a safe and wonderful Easter Sunday all.
Invest in Life
  • #36,453
  • Apr 12, 2020 1:58pm Apr 12, 2020 1:58pm
Quoting Mundo
{quote} https://www.bloomberg.com/news/artic...-oil-price-war Mexico has various reasons why they are holding out. The Populist President AMLO's centerpiece is the efforts to become self-sufficient in energy generation; therefore, any reduction in production would be counterproductive to reaching that goal. He puts his goals for Pemex (Mexico's national oil producer) over anything else OPEC wants. Has been against status-quo since day one and is against the rich and powerful...
Very well said Mundo !!!
Agree 100% with you on the UC longs. Typically I do not trade the AUD but I see a substantial weakening of the Aussie as well. Hope all goes well in Mexico.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,454
  • Apr 12, 2020 2:54pm Apr 12, 2020 2:54pm
Quoting GreenEarth
{quote} Very well said Mundo !!! Agree 100% with you on the UC longs. Typically I do not trade the AUD but I see a substantial weakening of the Aussie as well. Hope all goes well in Mexico. GE
GE
Dont form strong bias without market showing its head.We have seen when MM push prices for hundreds of pips against fundamentals so BE neutral.
Forex is controlled by small extremely powerful banker cartel and basically they decide...and what they decide often is against popular sentiment.
In trading, you have to be defensive and aggressive at the same time
  • #36,455
  • Apr 12, 2020 2:58pm Apr 12, 2020 2:58pm
Quoting GreenEarth
{quote} I can't see anymore price cuts but smarter people than me might know the answer. I think that the Saudi's have already acknowledged that their "experiment failed miserably". In my mind , "What were they thinking , unless POTUS has a backroom deal with them which will help the US "big time" until this economic setback is over. The entire World MUST HAVE low energy prices to get "back on its feet for the forseeable future" The bright side of all of this is we all know that Canada , US , and Mexico MUST...
Saudis may announce tomorrow.You need to follow the news in context
In trading, you have to be defensive and aggressive at the same time
  • #36,456
  • Apr 12, 2020 3:50pm Apr 12, 2020 3:50pm
Quoting Davit
{quote} Saudis may announce tomorrow.You need to follow the news in context
Yes , thank you Davit. I was definitely forming a bias or have formed a bias.
As I am writing , News Headline came across TV screen stating that OPEC and other Countries have reached a deal.
This past Thursday I made the commitment to myself NOT to do any trading until well into the trading day on Tuesday.
Like you said , the MM's will be on the prowl slaughtering traders , I'm paraphrasing of course.

Thanks again for the advice , great to know that you are always looking out for your followers.
Davit , you are one of a kind.
Sincerely ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,457
  • Apr 12, 2020 3:55pm Apr 12, 2020 3:55pm
Quoting GreenEarth
{quote} Yes , thank you Davit. I was definitely forming a bias or have formed a bias. As I am writing , News Headline came across TV screen stating that OPEC and other Countries have reached a deal. This past Thursday I made the commitment to myself NOT to do any trading until well into the trading day on Tuesday. Like you said , the MM's will be on the prowl slaughtering traders , I'm paraphrasing of course. Thanks again for the advice , great to know that you are always looking out for your followers. Davit , you are one of a kind. Sincerely ,...
Want to make sure you make
In trading, you have to be defensive and aggressive at the same time
  • #36,458
  • Apr 12, 2020 4:03pm Apr 12, 2020 4:03pm
We'll see how this goes but needless to say OPEC cut is good for CAD
GC may reach 71 even 70 holding AC shorts with confidence 86 very possible
Already have enough CAD why I am not touching UC

Just added few more on AC on spike
In trading, you have to be defensive and aggressive at the same time
  • #36,459
  • Apr 12, 2020 4:13pm Apr 12, 2020 4:13pm
Quoting Davit
{quote} Thanks for reminding me to refresh myself so spend good chunk of the day listing audio book while cooking and doing chores in my backyad Brilliant book.Every chapter is Aha moment.How relevant is chapter when he talks about the fear of losing.... https://www.youtube.com/watch?v=gIM9o7KZb1I
I hope everyone had a good weekend.
Thank you Davit and other members for recommending this audio book. It’s definitely golden nugget for me. Gone through the first three hours so far and I definitely fall into ‘boom and bust’ category of traders. Will go through the remaining five hours in the next few days and will try to make the next step by implementing the teaching into day to day trading.

Green pips to everyone.
  • #36,460
  • Edited 4:32pm Apr 12, 2020 4:16pm | Edited 4:32pm
Going to share Advance trading technique but its for experience traders.
Pivot Scalping

Look higher TF for trend Pivot levels establish the bias.

Drop down 5min chart.

Sell when price drops both EMA below buy above
EMA are 21 8

Its a method for quicker equity gain since if you get the bias correctly gives you lot of opportunities.

Its vital you trade towards bias not against hence example if I am selling UC and bigger trend is down and Not at S61-S100 then I will only SELL not both ways! This is very much same as range trading in case of bigger BO move you want to be on the right side.
From my observations main reason cross over traders fail because they get greedy and trade both ways and get killed on BO. we sell rallies on down trend and buy dips on uptrend. This principle shall not be violated.

I am not responsible for gains or losses.Your trades!You own them.
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In trading, you have to be defensive and aggressive at the same time
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