{quote} yes I did ! may explain why when the price was above the open line and then came back to pivot he didn't take buy position? {image}
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From 1st post:
But even if you are a monkey you know that you cannot just enter blindly BUY/SELL when price is above/below Daily open line. You need some extra confirmation/line/point.... What I use are the daily Pivot points.
So we BUY/SELL when price moves away from the Daily pivots and then comes back(retraces) to one of the Daily pivots and it bounces again in the direction of the Daily trend.
{quote} From 1st post: But even if you are a monkey you know that you cannot just enter blindly BUY/SELL when price is above/below Daily open line. You need some extra confirmation/line/point.... What I use are the daily Pivot points. So we BUY/SELL when price moves away from the Daily pivots and then comes back(retraces) to one of the Daily pivots and it bounces again in the direction of the Daily trend. No offense meant, just .....the word BOUNCES...
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Thankyou ! Please answer the question on picture ! is there a right place for buy position or not? please look at first picture of post#3
Wanted to share this trading strategy for some time now, so lets do it now. After reading several posts from veteran members Peter Crowns and CrucialPoint I've come to realization that Daily open line is the line to rule them all. We look only for BUY setups if the price is above the Daily open line and SELL if the price is below the Daily open line. But even if you are a monkey you know that you cannot just enter blindly BUY/SELL when price is above/below Daily open line. You need some extra confirmation/line/point.... What I use are the daily...
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I am looking at NZDCHF. Price is in up trend on daily. There is a retracement on 1 hour. Rejection on 15 minutes on daily pivot points. I have entered long. TP at next resistance on PP or move to break even.
What is the leverage you are using on the account mate? For 15 minutes to be profitable we have to think about this as well.
{quote} I am looking at NZDCHF. Price is in up trend on daily. There is a retracement on 1 hour. Rejection on 15 minutes on daily pivot points. I have entered long. TP at next resistance on PP or move to break even. What is the leverage you are using on the account mate? For 15 minutes to be profitable we have to think about this as well.
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1:100
Anything above the line is an uptrend, below the line is a downtrend.
Thank you. Closed NZD CHF with a small loss. But I will definitely look more into this strategy. I have twicked a bit the strategy and managed a win on AUD CHF and GBP USD. Will test more tonight.
i also use the Daily Open Line as a "line in the sand" (in addition to the weekly and monthly openings) in the same sense as you,
however, without intending disturbing the thread, i do not use pivots,
instead of these i use % levels (mostly as targets),
and HTF structure PA levels
hi Degolep, thanks for sharing i also use the Daily Open Line as a "line in the sand" (in addition to the weekly and monthly openings) in the same sense as you, however, without intending disturbing the thread, i do not use pivots, instead of these i use % levels (mostly as targets), and HTF structure PA levels i like it, i sign up, regards
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Good to hear. Give us a few examples of your trades.
Anything above the line is an uptrend, below the line is a downtrend.
{quote} yes I did ! may explain why when the price was above the open line and then came back to pivot he didn't take buy position? {image}
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I think he filter here could be- There is no extra confirmation (Inside Bar or retracement + surpass of the candle that bounced away from Pivot Line)- So this is what it was not a trade.
I use this principle in my trading.
I've spent quite a lot of time developing methods based on this idea. As a result, I use the percentage extension from the day's open as a guide for pullback entry and exit levels. For skeptics, I will say that firstly it works, and secondly, say thanks to the author for the hint, he is not obliged to prove or convince you anything, as well as publish his live deals (account statements) to convince those who have who lacks intelligence to understand and appreciate the method.
Before you enter a trade, you should already know whether you will buy or sell. This method will only show you the place where you do it.
I use this principle in my trading. I've spent quite a lot of time developing methods based on this idea. As a result, I use the percentage extension from the day's open as a guide for pullback entry and exit levels. For skeptics, I will say that firstly it works, and secondly, say thanks to the author for the hint, he is not obliged to prove or convince you anything, as well as publish his live deals (account statements) to convince those who have who lacks intelligence to understand and appreciate the method. Before you enter a trade, you should...
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Would you mind telling how you trade, how you enter? Thank you.
After reading several posts from veteran members Peter Crowns and CrucialPoint...
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Ha, I discovered PeterCrowns's posts a few months ago and found his contributions invaluable. Now I will go carefully binge read CrucialPoint's.
Thank you.
Im a trend follower and My trades are based on Alien concepts ( momentum, trend strength )
Recently I started to add the Daily open line and play with it
specially for Gold trades it works like charm <3
