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Pivot Trading

  • #37,761
  • Oct 31, 2020 5:07pm Oct 31, 2020 5:07pm
Quoting Davit
{quote} Nice to see doing well my friend!
Davit, it is you that Taught Me, Thank You. meanwhile Trump is trying to help your countrymen I see on the news, that’s good.
You NEVER will be the person you could be, without pressure & discipline
  • #37,762
  • Nov 1, 2020 7:38pm Nov 1, 2020 7:38pm
Election and NFP should be an exciting week! I'm not sure if I ever shared this observation before. I will today, I hope you find this valuable. I was in a CAD YEN trade years ago and thought I had my ducks in a row. No upcoming major news on the CAD or Yen Oil was fairly stable it looked like a good entry point. I got into the trade and it wasn't long before it went negative against me and I lost the trade. I looked through the Calendar and discovered there had been a major USD news event and discovered that the Yen pairs with the exception of UJ have a negative correlation to what the DXY is doing. You can go into the free version of tradingview and use the compare button on the top left side of the chart and see for yourself. Here's a Chart of CJ for illustration purposes. DXY is the orange line.
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Fib Traders get it right 61.8% to 78.6% of the time. NR
  • #37,763
  • Nov 2, 2020 1:22am Nov 2, 2020 1:22am
Quoting Davit
{quote} fundamentals tells otherwise.I dont understand why you proclaim something then put money on it.AUD is over appreciated due to having less Covid19 issues however China is rabidly slowing and AUD economy not really on fire.Next 6 months its surely heading below 70 possibly towards 66 AUD is heading towards end of that yellow box 66's IMO About China.Western economies with their shut downs and trade issues with US Chinese economy is already in rescission due to less orders placed and less manufacturing and will get worse.Asia already in rescission.If...
Nice article. I see it heading towards 07600. Don´t beleive in fundamentals. Will probably reach 07250/70 before coming back down to where it is now 07000 and finaly reaching what i said
POSTMASTER
  • #37,764
  • Nov 2, 2020 7:24am Nov 2, 2020 7:24am
Quoting Robinhood1
{quote} Nice article. I see it heading towards 07600. Don´t beleive in fundamentals. Will probably reach 07250/70 before coming back down to where it is now 07000 and finaly reaching what i said
someone who does not believe in fundamentals can't post here.Sorry find another thread.

Fundamentals such as interest rates employment numbers are huge movers and you saying you dont believe in it is like carpenter saying I dont believe in measuring tape.

Removed!
In trading, you have to be defensive and aggressive at the same time
  • #37,765
  • Nov 2, 2020 7:30am Nov 2, 2020 7:30am
GC UC in profit No DD just waiting best time to bank.Usually after london close where lot of profits taken and prices move. 11:30-12-12:30 key time
In trading, you have to be defensive and aggressive at the same time
  • #37,766
  • Nov 2, 2020 8:27am Nov 2, 2020 8:27am
Closed GC results today so far
Reason closing GC ADR maxed out and likely to bounce up.What I do usually if it bounces long enough I short again until swing no longer has Edge.
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In trading, you have to be defensive and aggressive at the same time
  • #37,767
  • Nov 2, 2020 9:29am Nov 2, 2020 9:29am
Closed UC as well over 2k day.More then happy.Week is young
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In trading, you have to be defensive and aggressive at the same time
  • #37,768
  • Nov 2, 2020 10:59am Nov 2, 2020 10:59am
I wrote numerous times maximizing gains. In downtrend sell rallies in uptrend buy dips. Pivots provide solid platform to hit swings.No secret anything.Its about execution.

Added more on UC today so far
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In trading, you have to be defensive and aggressive at the same time
  • #37,769
  • Nov 2, 2020 11:01am Nov 2, 2020 11:01am
If you were paying attention you would of seen NC failing to break above WP easy trade really.No magic no lights arrows BS crap.Pure observation what Big boys are doing.

Flat no open trades now
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In trading, you have to be defensive and aggressive at the same time
  • #37,770
  • Nov 2, 2020 11:08am Nov 2, 2020 11:08am
Dont see anything worth trading now going to let big boys move prices where I see EDGE.No EDGE NO TRADES
If UC jumps 3270+I may hit short again. UC ADR low 3267 so not expecting much down move today anymore
Be aware of swing daily ADR.If there is no real news its unlikely pair move twice its ADR in single day unless there is major announcement or fundamental data release like rate cut or increase. What I am saying dont be the last guy holding the brown bag end of the ADR.Basically you are late by that time.This is why lot of new traders following indicators dont understand.Market has its own rhythm you got to understand market structure.
In trading, you have to be defensive and aggressive at the same time
  • #37,771
  • Nov 2, 2020 6:50pm Nov 2, 2020 6:50pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
Hey everyone abit late, but here are my trades for today, lots of mistakes and room for improvement. Happy I closed my trades and now waiting for cash rate at 10:30. Good luck everyone with valid entries on your swings!
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You should really listen to what Davit says
  • #37,772
  • Nov 2, 2020 7:01pm Nov 2, 2020 7:01pm
Hi guys tonight could be real fun on AUD rate decision. Dont be rushed to assume RBA cutting to 10% that's a projection.In case rate remains the same AUD could gain.So dont place trades on assumption prior of rate.
I am bearish on AUD in general so higher it goes better spot to sell.AU above 71 is possible red territory...
In trading, you have to be defensive and aggressive at the same time
  • #37,773
  • Nov 3, 2020 6:56pm Nov 3, 2020 6:56pm
Results today so far
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In trading, you have to be defensive and aggressive at the same time
  • #37,774
  • Nov 3, 2020 7:15pm Nov 3, 2020 7:15pm
Lot of funds running into AUD NZD as "safe heaven" will get deflated very quickly as it shoot up quickly.I am doing lot of scalping on EA now
In trading, you have to be defensive and aggressive at the same time
  • #37,775
  • Nov 3, 2020 8:32pm Nov 3, 2020 8:32pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
I've done such an awful job today with scaling out my trades better, but grateful it's at least money in the bank!
I wouldn't of been able to make any consistent money trading if it weren't for Davit! So much appreciation!!Always learning!

I'm taking a break for an hour or so. I've been slightly over trading. But everyone else should be loving the volatility
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You should really listen to what Davit says
  • #37,776
  • Nov 3, 2020 9:32pm Nov 3, 2020 9:32pm
Close some more trades AU NU GC etc almost 4k today and still have trades running
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In trading, you have to be defensive and aggressive at the same time
  • #37,777
  • Nov 3, 2020 9:34pm Nov 3, 2020 9:34pm
Selling NU NC now
In trading, you have to be defensive and aggressive at the same time
  • #37,778
  • Nov 3, 2020 9:35pm Nov 3, 2020 9:35pm
Quoting Ekim7
I've done such an awful job today with scaling out my trades better, but grateful it's at least money in the bank! I wouldn't of been able to make any consistent money trading if it weren't for Davit! So much appreciation!!Always learning! I'm taking a break for an hour or so. I've been slightly over trading. But everyone else should be loving the volatility {image}
you know best what works for you.
Key understanding market type.Trending or ranging or hyper ranging .Now its hyper ranging best for scalping
In trading, you have to be defensive and aggressive at the same time
  • #37,779
  • Edited 9:54pm Nov 3, 2020 9:39pm | Edited 9:54pm
Quoting Ekim7
I've done such an awful job today with scaling out my trades better, but grateful it's at least money in the bank! I wouldn't of been able to make any consistent money trading if it weren't for Davit! So much appreciation!!Always learning! I'm taking a break for an hour or so. I've been slightly over trading. But everyone else should be loving the volatility {image}
dont waste time on AN it can get very very slow.You want your money doing work.You dont want it seating and wasting time
EA 6360 still good for long now
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In trading, you have to be defensive and aggressive at the same time
  • #37,780
  • Nov 3, 2020 10:14pm Nov 3, 2020 10:14pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
Genuinely your commentary between market differences helped me understand pivot trading the most as I was going through the forum! Your right about AN, it's a pair I've struggled with too.

Also I've noticed recently that many AUD cross pair swings began from the outer limits as opposed to r/s61 pivot, would you agree?. I'd normally prefer to sell AC but I bought bunch yesterday when it hit s100 after cash rate. Just could of held positions better. But it's a learning process, but always improving

Many thanks again Davit!
Stay green everyone
You should really listen to what Davit says
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