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Pivot Trading

  • #37,001
  • May 10, 2020 10:07pm May 10, 2020 10:07pm
Quoting Cryptosurf
{quote} Seems unnecessary to trade that way, but knock yourself out.
Why do you say that?
Learn from your mistakes and march on.
  • #37,002
  • May 11, 2020 2:30am May 11, 2020 2:30am
Nice climb on UJ
  • #37,003
  • May 11, 2020 5:18am May 11, 2020 5:18am
prices moving beautifully according to my week analyses
USD bulls in control
In trading, you have to be defensive and aggressive at the same time
  • #37,004
  • Edited 5:33am May 11, 2020 5:22am | Edited 5:33am
Quoting Davit
After going through the Calendar its becoming clear AUD sell off primarily in the cards and USD bulls may assert more then bears.
Closed AUstart the week with a bang
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 6 KB
In trading, you have to be defensive and aggressive at the same time
  • #37,005
  • Edited 5:34am May 11, 2020 5:22am | Edited 5:34am
Quoting here2there
{quote} Why do you say that?
From years of successful trading using pivots. Trading from the outer levels is nothing more then swing failure/mean reversion. You also get to see price structure and patterns forming that lead to higher probability trades, ie an “edge”.

Trading from the mean there is no edge. There is nothing to tell you which way its going to go. So you’ll most likely burn thru more capital with failed trades before a direction is made.
Trade with confidence, trade without fear.
  • #37,006
  • May 11, 2020 5:25am May 11, 2020 5:25am
Quoting Davit
{quote} Closed AUstart the week with a bang {image}

Nice one. Closed my AU as well (+35 pips).
  • #37,007
  • May 11, 2020 5:27am May 11, 2020 5:27am
Find it interesting how incompetent traders want to "improve "this system when they can't even master what's laid out.News flash its about you not the system.Work on yourself 1st!
In trading, you have to be defensive and aggressive at the same time
  • #37,008
  • May 11, 2020 5:35am May 11, 2020 5:35am
GU hit ADR low
In trading, you have to be defensive and aggressive at the same time
  • #37,009
  • May 11, 2020 5:36am May 11, 2020 5:36am
USD/JPY is between R61 and R78 however as Davit mentioned US bulls are in control. Will keep an eye on this one if any opportunity to sell materialises.

Green pips to all
  • #37,010
  • May 11, 2020 5:40am May 11, 2020 5:40am
I' m at work so I do not see my MT4.
But AUD and NZD Looks good for 1 Phase for going short (for me reducing DD)

Best regards,
Renko
  • #37,011
  • May 11, 2020 5:43am May 11, 2020 5:43am
Quoting renkotop
I' m at work so I do not see my MT4. But AUD and NZD Looks good for 1 Phase for going short (for me reducing DD) Best regards, Renko
AUD may hover 6490-65 until tonight's business confidence why I took TP
In trading, you have to be defensive and aggressive at the same time
  • #37,012
  • May 11, 2020 5:44am May 11, 2020 5:44am
Quoting chahal
USD/JPY is between R61 and R78 however as Davit mentioned US bulls are in control. Will keep an eye on this one if any opportunity to sell materialises. Green pips to all
dont short UJ look other opportunities if you like yen always check out yen crosses 1st

G crosses are at extreme levels I am anticipating Pound to rebound at some point at these levels
In trading, you have to be defensive and aggressive at the same time
  • #37,013
  • May 11, 2020 5:49am May 11, 2020 5:49am
Quoting Davit
{quote} dont short UJ look other opportunities if you like yen always check out yen crosses 1st G crosses are at extreme levels I am anticipating Pound to rebound at some point at these levels
Davit, I' m still learning...
Do you mean NEVER short UJ?
  • #37,014
  • May 11, 2020 5:57am May 11, 2020 5:57am
Quoting renkotop
{quote} Davit, I' m still learning... Do you mean NEVER short UJ?
no just not now
PA above 21EMA on 15min minimum TF
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 36 KB
In trading, you have to be defensive and aggressive at the same time
  • #37,015
  • May 11, 2020 6:06am May 11, 2020 6:06am
Quoting Davit
{quote} no just not now PA above 21EMA on 15min minimum TF {image}
Thank you, I understand.
  • #37,016
  • May 11, 2020 6:09am May 11, 2020 6:09am
Trading Tip

USE ADR to determine position size

EG slow pair 3x
GJ 2x
GN 1x

You can trade faster pairs just reduce the position.You dont want same lot size on EG 64pips last 20days on GN for example.
In trading, you have to be defensive and aggressive at the same time
  • #37,017
  • May 11, 2020 6:14am May 11, 2020 6:14am
Quoting RieseP
Hi Davit Personal question or two feel free to ignore. 1 - Your making money. Whats your goals for 2020/21 regarding trading and personal life out of trading? 2- How do you maintain the determination to succeed in trading. I know that success tends to make us complacent. 3- What do you do with the finances you earned in trading. Do you build your account and only take a small percentage for cost of living etc? Do spend it on fancy things? Do you invest in anything out of forex? 4- Are you Happy? Has trading fulfilled your life. I know physically...
will get back to you on off trading hours
In trading, you have to be defensive and aggressive at the same time
  • #37,018
  • May 11, 2020 6:18am May 11, 2020 6:18am
Quoting renkotop
{quote} Thank you, I understand.
Are you short already?If so good probability correction after tomorrow's CPI if prints red.

Try not get early.Why the whole point of MA
In trading, you have to be defensive and aggressive at the same time
  • #37,019
  • May 11, 2020 6:19am May 11, 2020 6:19am
Good Start for the week
Attached Image (click to enlarge)
Click to Enlarge Name: AU_2020-05-11 131559.png Size: 93 KB
Attached Image
  • #37,020
  • May 11, 2020 6:22am May 11, 2020 6:22am
GU still holding 23. Something to be aware of 132 drop today on 120ADR last 20
which translates logically it reached its max ADR and likely bounce north maybe 40-50pips
In trading, you have to be defensive and aggressive at the same time
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