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Pivot Trading

  • #36,821
  • Apr 30, 2020 10:16am Apr 30, 2020 10:16am
Nice spike on EU, I go short for a scalp.
  • #36,822
  • Edited 12:49pm Apr 30, 2020 11:06am | Edited 12:49pm
More than 20% in Germany are short-time Workers now. The Situation in the other european countries is even worse.
We will get a Deep recession, meaning EUR down.
  • #36,823
  • Apr 30, 2020 11:42am Apr 30, 2020 11:42am
Quoting renkotop
More than 5% in Germany are short-time Workers now. The Situation in the other european countries is even worse. We will get a Deep recession, meaning EUR down.
The whole world is in the same boat.
  • #36,824
  • Edited 4:29pm Apr 30, 2020 3:43pm | Edited 4:29pm
April results
Deleted previous post.Dont want the negative Karma in case does not work out.I am comfortable with my decisions bad or good.Last thing I need hate PM's trade not working out and putting the blame on me..Sometimes I share too much and not necessarily a good thing.
Lot of people dont understand the essence of trading which is a probability game.This alone worth understanding deeply.Its never about 1 or 10 or even 20 trades its hundreds even thousands of trades.Edge over large sample size.
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #36,825
  • Apr 30, 2020 4:21pm Apr 30, 2020 4:21pm
Quoting Davit
April results {image}
What can a person say but , HOLY SHIT , GREAT JOB !!!!
AVERAGE SALARY FOR A CANADIAN IS APPROXIMATELY $32,000.00 PER YEAR !!!!!

Pivots +Price Action+ Fundamentals= A SYSTEM THAT WORKS !!!!!

Bravo ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,826
  • Apr 30, 2020 4:41pm Apr 30, 2020 4:41pm
I am going to log off soon but food for thought


Why is it Impossible for the Market to Move the Exact Same Way Twice?
For this new pin bar to move exactly the same as how the previous pin bar did, it would have to have exactly the same traders in the market with exactly the same size orders.
The same traders would have to be getting in and out with exactly the same size orders at precisely the same time, to the exact moment. They would have to be exchanging their orders to the exact same people on the exact same platforms to make this new pin bar move in the exact same way.
Obviously this is impossible!

Why back testing is faulty logic.

“Every Moment in The Market is Unique” Mark Douglas

Why I love Pivots? Because they are constant irregardless of history.
In trading, you have to be defensive and aggressive at the same time
  • #36,827
  • Apr 30, 2020 5:17pm Apr 30, 2020 5:17pm
Closed AU glad to be out of this trade.Was not to my liking.
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In trading, you have to be defensive and aggressive at the same time
  • #36,828
  • Apr 30, 2020 5:51pm Apr 30, 2020 5:51pm
Quoting Davit
I am going to log off soon but food for thought Why is it Impossible for the Market to Move the Exact Same Way Twice? For this new pin bar to move exactly the same as how the previous pin bar did, it would have to have exactly the same traders in the market with exactly the same size orders. The same traders would have to be getting in and out with exactly the same size orders at precisely the same time, to the exact moment. They would have to be exchanging their orders to the exact same people on the exact same platforms to make this new pin bar...
100% true !!!!
An example happened today with AUD/CAD.
"Define the risk OUT of your trade"--Mark Douglas
  • #36,829
  • Edited 8:50pm Apr 30, 2020 8:33pm | Edited 8:50pm
Watch EC for short 53 should become strong R
Fundamentally Euro is weak due to virus.I think lot worse then Canada.Anyway these are my thoughts and PA rules

I generally think like an artist because I am one.I 1st always draw the outline overall shape of subject then get into structure building then detail so in trading I draw my outline 53 EC possible short that's my outlook outline then zero in for detail work.Sometimes its hard for me to express exactly how I trade...Lot of things are just intuitive due to 8yrs of trading

Next month I am anticipating further weakening of USD why I was glad to get out of AU shorts.I am USD bear going forward that is sell USD on Rallies
Only exception UJ (unless UJ drops back 106.50 or lower) Wont sell EU GU AU NU or buy UC but rather wait for market to do the heavy lifting then sell USD at discount prices.
This is my canvas for MAY
In trading, you have to be defensive and aggressive at the same time
  • #36,830
  • Apr 30, 2020 9:55pm Apr 30, 2020 9:55pm
Quoting Davit
Closed AU glad to be out of this trade.Was not to my liking. {image}
nice to see it ran well
I will get my head around this, but always can be wrong
  • #36,831
  • Apr 30, 2020 11:46pm Apr 30, 2020 11:46pm
Quoting Davit
April results Deleted previous post.Dont want the negative Karma in case does not work out.I am comfortable with my decisions bad or good.Last thing I need hate PM's trade not working out and putting the blame on me..Sometimes I share too much and not necessarily a good thing. Lot of people dont understand the essence of trading which is a probability game.This alone worth understanding deeply.Its never about 1 or 10 or even 20 trades its hundreds even thousands of trades.Edge over large sample size. {image}
- Impressive results by any standard
  • #36,832
  • May 1, 2020 5:20am May 1, 2020 5:20am
Waiting for red news on ISM, then short UC (I already did)
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  • #36,833
  • May 1, 2020 9:04am May 1, 2020 9:04am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts | Online Now
Quoting renkotop
Waiting for red news on ISM, then short UC (I already did) {image}
Be careful it's positive.
We obey the structure that results from the market's reaction
  • #36,834
  • May 1, 2020 9:36am May 1, 2020 9:36am
Quoting Egbert
{quote} Be careful it's positive.
Short UC from 1.4074.
Possible to hit 141 on the over reaction to the ISM News. Although I had a slightly bias to the short side before the News with 2 rejections at S38 on a 4 hr chart , would not surprise me to see to see a full retracement to 1.40 area before the end of the day. Monday/Tuesday at the latest.
Sell into resistance , buy into support..
UC currently in a MAJOR RESISTANCE ZONE at 1.4096 , not to mention psychological level of 1.4100
As Davit has said numerous times , USD in 1.40's is unsustainable.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #36,835
  • Edited 10:18am May 1, 2020 10:08am | Edited 10:18am
  •  Egbert
  • Joined Aug 2017 | Status: The Weekly Pivot is the only verdic | 1,082 Posts | Online Now
Quoting GreenEarth
{quote} Short UC from 1.4074. Possible to hit 141 on the over reaction to the ISM News. Although I had a slightly bias to the short side before the News with 2 rejections at S38 on a 4 hr chart , would not surprise me to see to see a full retracement to 1.40 area before the end of the day. Monday/Tuesday at the latest. Sell into resistance , buy into support.. UC currently in a MAJOR RESISTANCE ZONE at 1.4096 , not to mention psychological level of 1.4100 As Davit has said numerous times , USD in 1.40's is unsustainable. GE
I will only buy under pivot and sell above pivot. But that is just me. Please do not follow my advise, those big candles can make one loose lots of money. For now why will I sell into resistance with positive news? Just me thinking!
I’m always asking myself, what is the reason for me selling? And I do not see a reason to sell now!
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We obey the structure that results from the market's reaction
  • #36,836
  • May 1, 2020 10:51am May 1, 2020 10:51am
GM guys wow
Did not expect such heavy selling off of CAD (1st of the month big boys unloading)

GC EC solid shorts now.Out of margin but EC looks yummy Its basically zero risk level and advise going large here.You hit it hard when it counts
1.55 is bargain
In trading, you have to be defensive and aggressive at the same time
  • #36,837
  • May 1, 2020 12:05pm May 1, 2020 12:05pm
Quoting Davit
GM guys wow Did not expect such heavy selling off of CAD (1st of the month big boys unloading) GC EC solid shorts now.Out of margin but EC looks yummy Its basically zero risk level and advise going large here.You hit it hard when it counts 1.55 is bargain
1hr later 30pips down moved stops you are golden. 5470 now.That's how you increase account fast.You go big when it counts!Lay off throttle when not needed.
I always very my lot sizes based on quality of trades.
In trading, you have to be defensive and aggressive at the same time
  • #36,838
  • May 1, 2020 1:01pm May 1, 2020 1:01pm
Quoting Davit
{quote} 1hr later 30pips down moved stops you are golden. 5470 now.That's how you increase account fast.You go big when it counts!Lay off throttle when not needed. I always very my lot sizes based on quality of trades.

Oil rises and pulls CAD along like a slave.These are the moments when all the planets are in a row.
the highest point comes before the fall
  • #36,839
  • May 1, 2020 1:04pm May 1, 2020 1:04pm
Nice way to end the week : EC +229
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  • #36,840
  • May 1, 2020 1:05pm May 1, 2020 1:05pm
Quoting Rivabex
Nice way to end the week : EC +229 {image}
party just beginning.Should of kept it longer.This easily will drop to 53 on immediate today 54
what you can do if there is mini rally you can get in again
In trading, you have to be defensive and aggressive at the same time
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