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Pivot Trading

  • #38,301
  • Apr 14, 2021 5:42am Apr 14, 2021 5:42am
WTI looks like it will PROBABLY retreat to the R38 area in the short term to $60.86 area.

Oil is currently helping the CAD.

Anyone trading the NC last night got a wheelbarrow full of pips !!!!

Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,302
  • Apr 14, 2021 6:49am Apr 14, 2021 6:49am
Quoting GreenEarth
WTI looks like it will PROBABLY retreat to the R38 area in the short term to $60.86 area. Oil is currently helping the CAD. Anyone trading the NC last night got a wheelbarrow full of pips !!!! Regards , GE
Darn WTI is still going up but the oil stock inventory news in 2h40m could change that.
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  • #38,303
  • Apr 14, 2021 10:02am Apr 14, 2021 10:02am
Quoting Hutch
{quote} Darn WTI is still going up but the oil stock inventory news in 2h40m could change that. {image}
The spike to the R78 area will be short lived in my opinion.
$62-$63 BBL OIL is not sustainable in this Global Economic Climate.
The weekly US EIA CRUDE OIL release is an often overlooked News release by traders and not given the importance that it deserves. This weekly data can and often does cause immediate spikes in the price of oil.
Look for a very quick retreat from the current spike.
2 days ago , oil price was below $58 BBL.
I would not be surprised to see oil trading at the R38 level within 24 -48 hours or less , maybe by the end of today even. Obviously oil traders were waiting for a huge number and capitalized on it , but , MOST OF THE SAME TRADERS WILL ALSO BE RESPONSIBLE FOR THE MASSIVE SHORTS WHICH WILL COME FAST AND FURIOUS.
USD/CAD 4 hr chart PA will have a very , very difficult time to get to S38 , which is OFTEN a precursor to oil PA.
RISK MANAGEMENT IS ALWAYS #1 , don't stand in the way of a huge truck. Big money deals in oil.
Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,304
  • Apr 14, 2021 10:20am Apr 14, 2021 10:20am
LONG USD/CAD at 1.2533
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,305
  • Apr 14, 2021 11:51am Apr 14, 2021 11:51am
Added another LONG position at 1.2510
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,306
  • Apr 15, 2021 9:29am Apr 15, 2021 9:29am
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
EU looking solid to building short positions based on US fundamental numbers, and pivots. Watching AU closely also, grossly over extended in addition to NZD. Risk management is key.

EC struggling to break 1.50 the last few days...anything can happen.
You should really listen to what Davit says
  • #38,307
  • Apr 15, 2021 10:10am Apr 15, 2021 10:10am
[quote = Ekim7; 13496897] Die EU sieht solide aus, um Short-Positionen auf der Grundlage der US-Fundamentalzahlen und Pivots aufzubauen. AU genau beobachten, zusätzlich zu NZD stark verlängert. Risikomanagement ist der Schlüssel. EC hat in den letzten Tagen Probleme, 1,50 zu brechen ... alles kann passieren. [/ Quote]

Something is happening ... R61 is a very important zone ... recognized by many dealers
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the highest point comes before the fall
  • #38,308
  • Apr 15, 2021 12:00pm Apr 15, 2021 12:00pm
Hi folks ,
Out of my UC trade , added a 3rd position at 1.2480.
Took profits at 1.2542
Oil looks like it cannot move higher on "its own" Big speculators CAN drive it higher in order to create a "sucker play".
UC has been trending lower since March 2020.
However , I am a USD BULL.
Most of my trades are LONG UC BECAUSE PIVOT POINT TRADING WORKS !!!!!
2018 , I thought that I knew what I was doing. WRONG !!! Didn't know my arse from a hole in the ground.
DAVIT'S THREAD CHANGED EVERYTHING. FREAKIN' AMAZING !!!!

Sincerely ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,309
  • Apr 16, 2021 6:55am Apr 16, 2021 6:55am
Lots of currency pairs currently in yellow numbers in the ADR.
I'm done for the week.
Have a great weekend everyone and be safe.
GOD bless our US neighbours who have suffered many acts of gun violence in these past few weeks in particular which are heartbreaking,
Sincerely ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,310
  • Edited 3:41pm Apr 16, 2021 2:58pm | Edited 3:41pm
Hi Pioters,
Let's have a great weekend and Party !

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This is how I learned about medicine and human behavior !

- John
"What Goes Up, Must Come Down." - (c) Sir Isaac Newton - 1647
  • #38,311
  • Apr 16, 2021 3:49pm Apr 16, 2021 3:49pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
Here's my week held onto EA longer than I liked. Still holding some EC and other minor DD.

Have a great weekend everyone!
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You should really listen to what Davit says
  • #38,312
  • Apr 17, 2021 3:11am Apr 17, 2021 3:11am
Hey Traders ,
I constantly revisit this thread in its entirety BECAUSE I AM COMMITTED to becoming the best trader that I can possibly be.
THE FIRST 7 PAGES CONTAINS A TREMENDOUS WEALTH OF INFORMATION.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,313
  • Apr 18, 2021 8:14am Apr 18, 2021 8:14am
Quoting Davit
{quote} I advise getting rid of that garbage S/R indicator train your eyes to see PA
Post #388 on this thread , NOT PAGE , POST , by Davit , replying to another trader.

This was one of the BEST PIECES OF ADVICE DAVIT GAVE TO TRADERS , particularly me , in my opinion.
I had fallen into the mental trap of relying on indicators rather than concentrating on , interpreting , analyzing in a mindset of probabilistic thinking , of what PA was PROBABLY going to do.

At first , it was freakin' difficult for me. REALLY , REALLY FREAKIN' DIFFICULT !!! Oh how I wanted my MACD and RSI and EMA's back.

By doing this , my true learning and understanding of Pivot Point Trading had begun.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,314
  • Apr 18, 2021 8:33pm Apr 18, 2021 8:33pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
EU shorts from last week. Starting the week early.
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You should really listen to what Davit says
  • #38,315
  • Apr 19, 2021 2:46am Apr 19, 2021 2:46am
Quoting Ekim7
EU shorts from last week. Starting the week early. {image}
Ekim7 , more importantly , what is the EU PROBABLY GOING TO DO WITHIN THE NEXT 4 HOURS ? 1 HOUR ?
What is your probabilistic target ?
Where is your entry/exit levels ? Very important, Short ? Long ?
PA is King , always.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,316
  • Apr 19, 2021 3:13am Apr 19, 2021 3:13am
Short EU , 1.2015 ----TP set at 1.1955
Folks , I never trade the EU.
Currently excellent probabilistic trade , imo.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,317
  • Apr 19, 2021 3:44am Apr 19, 2021 3:44am
Quoting GreenEarth
Short EU , 1.2015 ----TP set at 1.1955 Folks , I never trade the EU. Currently excellent probabilistic trade , imo. GE
dollar hits s78 soon. Good for climbing
EU met R61. Good for falling.
the highest point comes before the fall
  • #38,318
  • Apr 19, 2021 5:23am Apr 19, 2021 5:23am
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
Quoting GreenEarth
{quote} Ekim7 , more importantly , what is the EU PROBABLY GOING TO DO WITHIN THE NEXT 4 HOURS ? 1 HOUR ? What is your probabilistic target ? Where is your entry/exit levels ? Very important, Short ? Long ? PA is King , always. GE

I took profits shortly after I posted EU around the pivot. I try to close last week's trade asap after the weekend and good thing I did on EU. Shorting again from 1.20350 hoping for around 1.19900 or R78->R38 in the short term for now. Then we'll see what happens as policy rate comes.

Not really sure what's driving the euro with current account in the negatives. Any ideas? MM might be setting up for policy rate on Thursday and services and manufacturing data Friday.

Agreed PA is always king! Fundamentals being important also.
You should really listen to what Davit says
  • #38,319
  • Apr 19, 2021 7:58am Apr 19, 2021 7:58am
Quoting Ekim7
{quote} I took profits shortly after I posted EU around the pivot. I try to close last week's trade asap after the weekend and good thing I did on EU. Shorting again from 1.20350 hoping for around 1.19900 or R78->R38 in the short term for now. Then we'll see what happens as policy rate comes. Not really sure what's driving the euro with current account in the negatives. Any ideas? MM might be setting up for policy rate on Thursday and services and manufacturing data Friday. Agreed PA is always king! Fundamentals being important also.
Excellent Ekim7 !!!! I have no idea why the EU spiked. However , I am quite comfortable with this trade. Currently , in very minor DD.

My TP is still the WPP.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #38,320
  • Apr 19, 2021 8:02am Apr 19, 2021 8:02am
Hi EU Traders ,
Added another short position at 1.2038 , TP at WPP.
GE
"Define the risk OUT of your trade"--Mark Douglas
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