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Pivot Trading

  • #37,241
  • May 25, 2020 11:49am May 25, 2020 11:49am
Quoting Mundo
For those still using TDI...When price heads south and reaches a point higher than its previous low and TDI went straight down to lower end...odds are it is a continuation of uptrend. Same on opposite if looking for a buy. See image as example (nothing to do with his trade it just was there). Go through your charts and see how this happens quite often. {image}
Mundo, if this the original template, can you please share here including the indis with the settings. I have all of the indis, but I cannot seem to duplicate the template and everyone I pull from the paperclip is either missing something or settings are off. My computer did an update a few weeks back and I had to reinstall everyhting and I just cannot seem to tweek it back to exactly as I had it. Thanks.
  • #37,243
  • May 25, 2020 4:11pm May 25, 2020 4:11pm
Thoughts for the week beginning 5/24/20

Sunday/Monday – slow news days. US and German Holidays. Slow news week generally with a few red new items. Some moderate impact news I will reference, not looking for any huge impact from these. Other Covid-19 sentiment related news may generate larger swings, otherwise looking for ranging possibilities with CAD, USD, EUR, NZD, AUD. Also watching AUD for any weakening due to pricing in of next week rate decision, forecast to remain unchanged at .25%.

TUES
EUR- German Consumer Climate – one source shows this as low impact, another has high, previous -23.4 is lowest on record since 1980, forecast improved at -19.1 although still poor.
USD –Consumer Confidence -Moderate Impact News – forecast to improve from 86.9 to 87.1. Americans are always optimistic, reopening measures in all states are also fueling an improved outlook. This is number is likely to hold as forecast. I am watching for a move north on UC or south on EU toward 38 levels.
CAD – red news Poloz speaks, if positive, this may give the push south toward WPP. Today Poloz notes ‘Significant stimulus needed to rebuild economy’ so possibly more bearish language
NZD- red news, Financial Stability report.

WED
EUR-President LeGarde speaks- moderate impact – watching for any economic stimulus comments
AUD-Private Capital Expenditure – high impact news – forecast increase from -2.8 to -2.7

THURS
EUR- Business Confidence – high impact – forecast decline from -1.81 to -3
EUR-France Growth Rate – forecast decrease from -0.1% to -5.8%
USD Prelim GDP high impact – forecast to remain unchanged at -4.8%
USD Core Durable Goods, Durable Goods – moderate impact –forecast decrease from -.4% to -14.2% and -14.7% to 17.9% respectively. Overall forecast negative for USD
USD – Unemployment claims – moderate impact –decrease from 2,438K to 2,100K. Most states moving to Phase II reopening measures could drive this.
USD Pending home sales - moderate impact -Improvement from -20.8% to -15%. Still negative though so don’t see this as a boost for USD

FRI
EUR-Italian Growth Rate – high impact – Q/Q forecast decrease from 0.3% to -4.7%, YoY decrease from .1% to -4.8%
CAD – GDP –high impact – from 0.0% to -9.0%
USD –Personal Spending – high impact – forecast decrease from -7.5% to -11.4%
USD Personal Income – high impact – forecast decrease from -2% to -6.6%.

As always, comments and thoughts welcome.
  • #37,244
  • May 25, 2020 5:00pm May 25, 2020 5:00pm
Inserted Video


I say good bye to this thread.
Thanks to Davit...
  • #37,245
  • May 25, 2020 6:03pm May 25, 2020 6:03pm
Quoting pipmaster77
{quote} Mundo, if this the original template, can you please share here including the indis with the settings. I have all of the indis, but I cannot seem to duplicate the template and everyone I pull from the paperclip is either missing something or settings are off. My computer did an update a few weeks back and I had to reinstall everyhting and I just cannot seem to tweek it back to exactly as I had it. Thanks.
Not my template it is Bubincka. I too had issues with template in the beginning. I use my own and add indis.
Invest in Life
  • #37,246
  • May 25, 2020 6:04pm May 25, 2020 6:04pm
Quoting renkotop
https://youtu.be/MgRP1b0cNU0 I say good bye to this thread. Thanks to Davit...
Classic
Invest in Life
  • #37,247
  • May 25, 2020 6:04pm May 25, 2020 6:04pm
Quoting renkotop
https://youtu.be/MgRP1b0cNU0 I say good bye to this thread. Thanks to Davit...
Hey!
Sorry to see you go. It will be a loss, I am going to hold out for awhile. It is an opportunity for me to stand for what Davit taught me, and become the best trader I can be. Davit, I will be watching for you to appear somewhere somehow, in the future.

All the best, Renko
  • #37,248
  • May 25, 2020 9:28pm May 25, 2020 9:28pm
Quoting renkotop
https://youtu.be/MgRP1b0cNU0 I say good bye to this thread. Thanks to Davit...

wha??
  • #37,249
  • May 25, 2020 11:08pm May 25, 2020 11:08pm
Quoting Davit
I am going to post this portrait painting as perfect trading system. Yes Trading is an ART and all ARTS are related. You might be wondering has shoulder injury drove Dave to insanity? No just follow me along for the ride you'll find it fascinating. Before he begins he has basic drawing done.Get this wrong no likeness! Trading equivalent 1.Structure of the market.Got this wrong nothing else will makes sense. Here lays down background tones basic colors on the face. Trading...
poetry in the minds eye
thankyou
I'll still stick my head in randomly
I will get my head around this, but always can be wrong
  • #37,250
  • May 26, 2020 2:03am May 26, 2020 2:03am
Another early close ?

Probably yes, at least for this it wasn't me but the EA with its settings.
Again it's a pity, EG was very well poised to deflate and could target ADR low, however no problems, all good.
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Porta itineris dicitur longissima esse
  • #37,251
  • May 26, 2020 5:00am May 26, 2020 5:00am
Quoting renkotop
https://youtu.be/MgRP1b0cNU0 I say good bye to this thread. Thanks to Davit...

Why do you want to go renko? it comes so suddenly. Just take a few days off, then the world looks very different.
the highest point comes before the fall
  • #37,252
  • May 26, 2020 7:13am May 26, 2020 7:13am
Monitoring EU price action for potential short. At R38 (and previous week extended to R100), at ADR high.
  • #37,253
  • May 26, 2020 10:56am May 26, 2020 10:56am
Quoting Davit
{quote} No it wasn't ready for shorts.100 pips early!!!Price was not even at R38.Basically total violation of the system. I said lost time you got to work on your impulses well looks like you didn't improve. You leaving the thread its not loss for the group.Might enhance it since weak links are always 1st to break. Sorry I am an artist I talk straight. Good luck Below week so far. Another thread a "trader" advises another "I never trade Fridays" funny Fridays always been my most profitable days.This place is swimming...
Not a fair statement. Just because someone disagrees with you and chooses not to trade on Friday does not immediately make them inept. It's actually ok if people disagree with you. I'm sure your wife disagrees with you all the time...lol. Does that also make her inept? Relax a little bit Davit. You seem like a good dude, your only flaw is you love to judge others. There is only one person that is allowed to judge others. Honestly, who are we to judge? Green Pips to you!
  • #37,254
  • Edited 11:50am May 26, 2020 11:23am | Edited 11:50am
Quoting bojack34
{quote} Not a fair statement. Just because someone disagrees with you and chooses not to trade on Friday does not immediately make them inept. It's actually ok if people disagree with you. I'm sure your wife disagrees with you all the time...lol. Does that also make her inept? Relax a little bit Davit. You seem like a good dude, your only flaw is you love to judge others. There is only one person that is allowed to judge others. Honestly, who are we to judge? Green Pips to you!
I deleted the post because I didn't want to get involve but since you answered I will respond.

This is trading! Its a skill based activity.Everyone judges everyone in context of trading.I learned from idiotic mistakes of others and mine and tried to improve myself.
When you say you dont trade Holidays Mondays Fridays that's serious flaw in your part. Market is always providing opportunities and we should not limit ourselves what it can provide. Every day is a trading day for me even holidays in fact made 1k yesterday from shit PA because I can!
When you take a year and eliminate 30% trading days off you are limiting your potential.
You have ways to go until you become fully competent. Fear is what prevents you trading those days.You got to find the reason why you fear the market.
Cheers

Your primary goal has to be to learn how to think like a consistently successful trader.
Remember, the best traders think in a number of unique ways. They have acquired a mental
structure that allows them to trade without fear and, at the same time, keeps them from
becoming reckless and committing fear-based errors.
– Mark Douglas
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In trading, you have to be defensive and aggressive at the same time
  • #37,255
  • May 26, 2020 11:56am May 26, 2020 11:56am
Quoting Davit
{quote} I deleted the post because I didn't want to get involve but since you answered I will respond. This is trading! Its a skill based activity.Everyone judges everyone in context of trading.I learned from idiotic mistakes of others and mine and tried to improve myself. When you say you dont trade Holidays Mondays Fridays that's serious flaw in your part. Market is always providing opportunities and we should not limit ourselves what it can provide. Every day is a trading day for me even holidays in fact made 1k yesterday from shit PA because...
Just so the facts are straight. I said I don't trade on Fridays or Holidays. Not a bid deal in my opinion. Again, it's ok to disagree.
  • #37,256
  • May 26, 2020 12:06pm May 26, 2020 12:06pm
Quoting bojack34
{quote} Just so the facts are straight. I said I don't trade on Fridays or Holidays. Not a bid deal in my opinion. Again, it's ok to disagree.
Because of this thinking way back you are still on my ignore list.
We obey the structure that results from the market's reaction
  • #37,257
  • May 26, 2020 2:48pm May 26, 2020 2:48pm
I hope you guys are taking advantage of AUD pairs all over stretched. We may see AUD decline rest of the week.

Got lot of PM's if you dont get response not ignoring just haven't got to it.My apologies they will be answered.Thank you
In trading, you have to be defensive and aggressive at the same time
  • #37,258
  • Edited 7:30pm May 26, 2020 3:59pm | Edited 7:30pm
Quoting Davit
I hope you guys are taking advantage of AUD pairs all over stretched. We may see AUD decline rest of the week. Got lot of PM's if you dont get response not ignoring just haven't got to it.My apologies they will be answered.Thank you
I'm bad at aiming today. kkk
so far I didn't hit any lol
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  • #37,259
  • May 26, 2020 6:57pm May 26, 2020 6:57pm
Quoting ppxdf
{quote} I'm bad at aiming today. kkk so far I didn't hit any lol {image} {image} {image} {image} {image}
AU was early not at 61 yet and the rest you closed early.Needs time.UC GU NU winnable
Every trade requires sufficient time to develop.Some its quick others might take a day or two.I can sense you kind of panicked.Its fine everything is learning experience.
In trading, you have to be defensive and aggressive at the same time
  • #37,260
  • May 26, 2020 7:44pm May 26, 2020 7:44pm
Quoting Davit
{quote} AU was early not at 61 yet and the rest you closed early.Needs time.UC GU NU winnable Every trade requires sufficient time to develop.Some its quick others might take a day or two.I can sense you kind of panicked.Its fine everything is learning experience.
I may not be panicking, but I'm definitely not taking advantage of my margin.
Currently using only 1/4.
I am not sure about Overtrading when I feel confident in a certain trade, because I have felt the market very manipulated.
My 4 positions should revert to green pips soon.
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