{quote} morning, now focus on the road
- #1,541
- Nov 3, 2020 3:14am Nov 3, 2020 3:14am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
- #1,543
- Nov 3, 2020 3:38am Nov 3, 2020 3:38am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
{quote} I'm a passenger
phew
- #1,544
- Nov 3, 2020 3:52am Nov 3, 2020 3:52am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
Long Dax above 4hr R-2
Out +32
Home now
Out +32
Home now
- #1,545
- Nov 3, 2020 4:05am Nov 3, 2020 4:05am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
DAX - LONG Long off W-PP after the open EDIT: Closed 50% D-R1 +58 EDIT: Closed remainder +100 EDIT: Just realised I did my trades as 2x 3 instead of 2x 5The advantage of levels that work - low drawdown, lower risk and normally a quick response {image} {image} Find out more about pivot trading and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
- #1,548
- Nov 3, 2020 5:45am Nov 3, 2020 5:45am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
{quote} Hi Max, Thank you for a very informative thread and for sharing and teaching. I find the examples of the PA at the levels really helpful. In regards of this chart - Could you explain what made you short? Thanks for your help!
Normally I would be looking for a long after a move through D-PP but you have to take account of what else has gone on/going on.
In this case the day started around the level where I shorted but price had already made a large drop after retesting and rejecting the D-PP.
That drop then reversed, now take into account that this drop and reverse was around 270 points each way, you need to start thinking will it run out of steam?
you can see on that first M1 chart I posted that the price, although it had moved above the D-PP and D-Open it had failed to get anywhere it was now trading sideways.
Looking at the Dow Jones and the FTSE (made same moves on the day) they were finding resistance at the D-OPEN level, so I took the short off the H1-R1 level.
You need to remember:
1) D-OPEN and D-PP are normally strong levels especially if price has travelled a way to get there as in this case.
2) Trading levels keeps SL smaller in this case I would have been wrong if price exceeded H1-R1 less than 10 points away
so although above D-PP and D-OPEN price had failed to gain further ground, had just rejected H1-R1 for the second time, other indicating indicies were at resistance and price had moved a long way to get here.... a low cost short entry could yield good returns. I am not always right but my SL are small and my trades normally pay well...
trust this helps
{quote} okay, here you go, this is a M5 chart of the same day I have roughly marked the original D-PP and D-OPEN Normally I would be looking for a long after a move through D-PP but you have to take account of what else has gone on/going on. In this case the day started around the level where I shorted but price had already made a large drop after retesting and rejecting the D-PP. That drop then reversed, now take into account that this drop and reverse was around 270 points each way, you need to start thinking will it run out of steam? you can...
- #1,551
- Nov 3, 2020 6:41am Nov 3, 2020 6:41am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
It's a bit slow atm
- #1,552
- Nov 3, 2020 6:49am Nov 3, 2020 6:49am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
It's a bit slow atm {image}
- #1,553
- Edited 7:26am Nov 3, 2020 7:16am | Edited 7:26am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
- #1,554
- Edited 9:03am Nov 3, 2020 8:46am | Edited 9:03am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
Dow Jones - LONG
EDIT: Closed 33% +61
EDIT: Closed 33% +80
EDIT: Closed Remainder at Q-PP +142
If it has more legs I can get in again above the Q-PP
Find out more about pivot trading and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
EDIT: Closed 33% +61
EDIT: Closed 33% +80
EDIT: Closed Remainder at Q-PP +142
If it has more legs I can get in again above the Q-PP
Find out more about pivot trading and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
- #1,555
- Nov 3, 2020 8:51am Nov 3, 2020 8:51am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
Dax long
SL to BE +30
That down spike missed my stop by a whisker
EDIT: Out +50
SL to BE +30
That down spike missed my stop by a whisker
EDIT: Out +50
- #1,556
- Nov 3, 2020 8:57am Nov 3, 2020 8:57am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
Dax long SL to BE +16 That down spike missed my stop by a whisker
- #1,557
- Nov 3, 2020 9:00am Nov 3, 2020 9:00am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
{quote} nice at least you know your broker is not messing with it then
- #1,558
- Nov 3, 2020 9:12am Nov 3, 2020 9:12am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
Dow Jones - SHORT
below D-R2 and 50%
it has had good momentum until now so will keep if it tight
EDIT: Closed -9 making another push
Find out more about pivot trading and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
below D-R2 and 50%
it has had good momentum until now so will keep if it tight
EDIT: Closed -9 making another push
Find out more about pivot trading and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
- #1,559
- Nov 3, 2020 9:22am Nov 3, 2020 9:22am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
Dow Jones - LONG
Back to long above D-R2 can't afford to be biased with this much volatility, keep playing the levels, keep SL tight..
62% level is looking appealing...
EDIT: SL set to BE at +50
Find out more about pivot trading and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
Back to long above D-R2 can't afford to be biased with this much volatility, keep playing the levels, keep SL tight..
62% level is looking appealing...
EDIT: SL set to BE at +50
Find out more about pivot trading and get the Pivot Prof Scanner for free here ► Pivot Prof - Trading An Edge
- #1,560
- Edited 9:53am Nov 3, 2020 9:39am | Edited 9:53am
- Joined Feb 2013 | Status: Trader | 1,488 Posts
I'm back on Dax above 38 fib 
SL to BE +15
EDIT: Out +19
SL to BE +15
EDIT: Out +19
