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Pivot Trading

  • #38,001
  • Jan 5, 2021 6:05pm Jan 5, 2021 6:05pm
Quoting Wesleyaso
Gold closed ... {image}
Wesleyaso and other Pivoters here,

Beware of XMGlobal Broker:

https://www.forexpeacearmy.com/search?q=XMGlobal


- John
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #38,002
  • Jan 6, 2021 6:27am Jan 6, 2021 6:27am
Quoting DrForexMD
Wesleyaso and other Pivoters here, Beware of XMGlobal Broker: https://www.forexpeacearmy.com/search?q=XMGlobal -...
Thank you very much for your attention John, I have been using it for years and so far I have had no problems, I have another more reliable broker.
Thanks again for your attention. Good year with great health and peace.
Hug.
"The freedom of the other extends mine to infinity"
  • #38,003
  • Jan 8, 2021 2:31pm Jan 8, 2021 2:31pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
I've been gone longer than I would of liked of. I was saddened to see the bad news regarding Davit's brother. It's an awful thing to deal with, possibly even worst with the pandemic. Sending my most sincere wishes Davit's way
You should really listen to what Davit says
  • #38,004
  • Jan 8, 2021 2:34pm Jan 8, 2021 2:34pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
Here are my results for today. Yesterday was Orthodox Christmas, so my holidays are over and slowly getting back into the rhythm.
Remembering the importance of Family. I'm staying with a sibling at the moment due to the pandemic and have no idea what I would of done without them due to unforeseeable circumstances. Stay safe everyone!
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You should really listen to what Davit says
  • #38,005
  • Jan 9, 2021 3:59am Jan 9, 2021 3:59am
Nice results for this week:

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May the Force be with you.
  • #38,006
  • Jan 9, 2021 1:29pm Jan 9, 2021 1:29pm
Hi guys
Thank you for all your warm condolences.My PM is full of massages that I have not answered yet.I have read them and thank you.
Obviously I am going through a lot.My parents brother passed away and my own mortality is glaring at me.Was watching a man solo riding in national parks on a motorcycle and he said he was was not afraid of dying he was afraid of not lived fully.That kind of gave me perspective.Focus on living fully loving fully..

Today on my 12mile bike ride I came across old cemetery very common around Boston and I stopped to look around and found this grave.3 kids died in 1st year and only one child survived and died in mid forties. It gave me perspective... Cherish life now.
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In trading, you have to be defensive and aggressive at the same time
  • #38,007
  • Jan 13, 2021 10:22am Jan 13, 2021 10:22am
Starting the year with a BOOM!
Closed GC +500
I placed shorts on R61 zone and closed below R38. Nice trade!
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On a pullback I may reload shorts again.
"In the end you only trade yourself."
  • #38,008
  • Jan 13, 2021 11:51am Jan 13, 2021 11:51am
Patience is a virtue but I probably need to increase my position sizes on this pair as it is giving me better profits and less drawdown than other pairs.
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Hope for the best, prepare for the worst.
  • #38,009
  • Jan 14, 2021 1:34am Jan 14, 2021 1:34am
Morning everyone.

my USDX 4Hour chart perspective.

•Orange for Monthly pivot
•Purple for weekly pivot

So yesterday the marketplace bounced near weekly pivot and fib 50
But today it seems like the USdx is having some hard time closing above the monthly pivot.

I think a solid 4Hour close above the monthly pivot will trigger bullish movement.
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MP
BARAK
  • #38,010
  • Jan 14, 2021 2:09am Jan 14, 2021 2:09am
Quoting snail69
Mostly my entries are around WP, however, from either of W38, into the ZONE, is OK as well. Using harmonics withing trading e.g. marked on chart. Main item is symmetries - see my signature. EurCad - entry from W38, exit in the far zone marked by created mini W (Gartle - I believe, not good with respective names - I call all of them generally an "animal" (crab, bat, shark, butterfly.....) {image}
Your focus on WP entry is very logical considering it is the most powerful pivot level. I focus on the main pivot level as well.

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  • #38,011
  • Jan 14, 2021 2:13am Jan 14, 2021 2:13am
Quoting Davit
Hi guys Thank you for all your warm condolences.My PM is full of massages that I have not answered yet.I have read them and thank you. Obviously I am going through a lot.My parents brother passed away and my own mortality is glaring at me.Was watching a man solo riding in national parks on a motorcycle and he said he was was not afraid of dying he was afraid of not lived fully.That kind of gave me perspective.Focus on living fully loving fully.. Today on my 12mile bike ride I came across old cemetery very common around Boston and I stopped to look...
Rest in peace. My condolences Davit
  • #38,012
  • Jan 14, 2021 5:40am Jan 14, 2021 5:40am
Quoting MarketPatrol
Morning everyone. my USDX 4Hour chart perspective. •Orange for Monthly pivot •Purple for weekly pivot So yesterday the marketplace bounced near weekly pivot and fib 50 But today it seems like the USDX having some hard time closing above the monthly pivot. I think a solid 4Hour close above the monthly pivot will trigger bullish movement. {image} MP
USDX Futures
Although I do not now trade Futures, I have to use Trading View to observe USDX or Investing.com (without Weekly Fibonacci Pivots).
USDX has been in a solid downtrend for months!

With Biden's proposed $2T "Aid Plan" will USD strengthen?

Is there a Inverse Head & Shoulders in development?
September 1, 2020 was the last time an Inverse Head & Shoulders presented (See Daily Hammer (Pin Bar). The measured objective was not reached! Bounced from R78.
Similar scene developing now?? First real Higher High for some time. Is this indicative of US Dollar strength to come?
Next week may be a "telling time"??
Patience and trade the Weekly Fibonacci Pivot levels.
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  • #38,013
  • Edited 8:53am Jan 14, 2021 7:23am | Edited 8:53am
Quoting MarketPatrol
Morning everyone. my USDX 4Hour chart perspective. •Orange for Monthly pivot •Purple for weekly pivot So yesterday the marketplace bounced near weekly pivot and fib 50 But today it seems like the USdx is having some hard time closing above the monthly pivot. I think a solid 4Hour close above the monthly pivot will trigger bullish movement. {image} MP
Ok 4Hour close confirmation let's see how it plays out
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• I do not trade future's either I use the USdx as my leading Indicator to trade the USD pairs.

Here is a NZDUSD trade I took based on the above USdx analysis but a close below the Orange monthly pivot invalidate the trade.
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Mp
BARAK
  • #38,014
  • Jan 14, 2021 12:15pm Jan 14, 2021 12:15pm
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Trade invalidated. Looks like it was a fake breakout
BARAK
  • #38,015
  • Jan 15, 2021 9:08am Jan 15, 2021 9:08am
Quoting MarketPatrol
{image} Trade invalidated. Looks like it was a fake breakout
Your method seems sound but i think its the candle you used to confirm bullish on a monthly pivot. With monthly pivots one should look for a clear weekly candle close above the pivot in order to consider it a bullish move. H4 is much to small and it looked more like a rejection by the monthly pivot.

I always use the main pivot points from 3 different timeframes. Smaller pivot, Large pivot, Larger pivot. I look for a break of the larger pivot with a close of the next lower timeframe candle above/below the larger pivot.

Heres an example of what I mean. In this case break of larger pivot is monthly while the weekly is the smaller pivot and largest pivot is yearly(i didnt plot yearly pivots) on the following Silver chart:


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Also its best to do this after a trend to get a nice proper reversal. Your USDX looked like a long trade after a bull run which is not ideal
  • #38,016
  • Jan 15, 2021 12:35pm Jan 15, 2021 12:35pm
Quoting sharingan9
{quote} Your method seems sound but i think its the candle you used to confirm bullish on a monthly pivot. With monthly pivots one should look for a clear weekly candle close above the pivot in order to consider it a bullish move. H4 is much to small and it looked more like a rejection by the monthly pivot. I always use the main pivot points from 3 different timeframes. Smaller pivot, Large pivot, Larger pivot. I look for a break of the larger pivot with a close of the next lower timeframe candle above/below the larger pivot. Heres an example of...
Thanks S9 I am still learning this method your review is eye opening for everyone who is willing to learn.

And today it was not a fakeout I made some pips based on the same analysis. Thanks again

MP

Quoting MarketPatrol
{image} Trade invalidated. Looks like it was a fake breakout
A retest to this level will be an opportunity to trade USD pairs
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MP
BARAK
  • #38,017
  • Jan 15, 2021 4:46pm Jan 15, 2021 4:46pm
Quoting sharingan9
{quote} Your method seems sound but i think its the candle you used to confirm bullish on a monthly pivot. With monthly pivots one should look for a clear weekly candle close above the pivot in order to consider it a bullish move. H4 is much to small and it looked more like a rejection by the monthly pivot. I always use the main pivot points from 3 different timeframes. Smaller pivot, Large pivot, Larger pivot. I look for a break of the larger pivot with a close of the next lower timeframe candle above/below the larger pivot. Heres an example of...
This is GOOD stuff
BARAK
  • #38,018
  • Jan 15, 2021 10:23pm Jan 15, 2021 10:23pm
Trades Friday I love Pivot's.
Closed EUR/GBP ...

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"The freedom of the other extends mine to infinity"
  • #38,019
  • Jan 16, 2021 7:49am Jan 16, 2021 7:49am
Can someone help me, if it is at all possible, to setup my "weekly fib" pivots on tradingview, the way OP describes it?

OP mentions trading in zones 61 - 100, but on my pivots my support and resistance levels are marked as simply S or R (support or resistance). Is there a way to use pivots on tradingview like the way I see most of you doing on your charts - presumably on MT4?

Attached is an example of what my charts look like right now on H4:

Any help is greatly appreciated.
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If you're gonna be a bear, be a grizzly
  • #38,020
  • Jan 16, 2021 7:57am Jan 16, 2021 7:57am
Hi fellow Pivoters
I noticed the ship has gone off target here.Dropping here to steer towards right direction.
Very little if any discussion or attention to calendar events.Its one of the main components of successful trader's habits.You must know and be aware what's coming much as cook should know about the ingredients being used.
Heavy event week.CAD AUD EUR dominating.Not going to share my notes have done here hundreds of times.You know what's expected.
In trading, you have to be defensive and aggressive at the same time
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