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Pivot Trading

  • #38,821
  • Jul 15, 2021 7:46am Jul 15, 2021 7:46am
Quoting Wags
Back in on EG {image} and GC {image}
you are learning fast.Good job. I covered a lot about re loading here its one of the pillars to grow an account fast.You are not going to find in most trading books because most trading books written by failed traders why end up in book seminar programs business.
keep it up

I get lot of PM's people asking to join this thread.Must be yellow and higher.If not I must see genuine effort made and the person be credible honest person.Not wasting my time on idiots.Those days are over and my time valuable.
In trading, you have to be defensive and aggressive at the same time
  • #38,822
  • Jul 15, 2021 7:59am Jul 15, 2021 7:59am
Watch AU for long
7419 ADR low
Fundamentally AUD is in good spot.Recent data was positive.Which translates not gonna see bottom drop out on AUD at least not near future
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In trading, you have to be defensive and aggressive at the same time
  • #38,823
  • Jul 15, 2021 8:49am Jul 15, 2021 8:49am
Quoting Davit
{quote} you are learning fast.Good job. I covered a lot about re loading here its one of the pillars to grow an account fast.You are not going to find in most trading books because most trading books written by failed traders why end up in book seminar programs business. keep it up I get lot of PM's people asking to join this thread.Must be yellow and higher.If not I must see genuine effort made and the person be credible honest person.Not wasting my time on idiots.Those days are over and my time valuable.

Thank you

I am putting in the work, It is a great strategy you have given to everyone with all the details included which not many people would do, so i can easily understand your frustration when people do not respect the rules or try to add an indicator as you already know it works in the first place

I have always been trying to find a trading style which suited me, i have tried so hard for about 8 years different things and i do not regret that as it has given me a real view of a lot of mistakes i made and also the trading mentality, plus a lot of screentime

I am still going to read the whole thread as i have the basic idea but i want to see all the fine details of more news events and how they were traded

Just closed EG for +268 pips btw
  • #38,824
  • Jul 15, 2021 9:58am Jul 15, 2021 9:58am
Quoting Wags
{quote} Thank you I am putting in the work, It is a great strategy you have given to everyone with all the details included which not many people would do, so i can easily understand your frustration when people do not respect the rules or try to add an indicator as you already know it works in the first place I have always been trying to find a trading style which suited me, i have tried so hard for about 8 years different things and i do not regret that as it has given me a real view of a lot of mistakes i made and also the trading mentality,...
Can you post more chart bro, I really appreciate your work.
Jakepuia
  • #38,825
  • Jul 15, 2021 1:45pm Jul 15, 2021 1:45pm
Quoting Jakepuia
{quote} Can you post more chart bro, I really appreciate your work.

Ye sure no problem

Started to load some trades on UC

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  • #38,826
  • Jul 15, 2021 2:57pm Jul 15, 2021 2:57pm
Quoting Wags
{quote} Would be great help for us all if you could post some charts, only if you have the time I am getting in a little early sometimes but after only 2/3 weeks trading pivots, im sure i can iron this out a bit in the future as i see the patterns better, of course sometimes something will go wrong and thats what makes the trader
I will try later if possible.

Quoting Wags
Back in on EG {image} and GC {image}
Nice catch on EG , I didn't be on PC at time to take it, but I loaded a few shorts on GC.

Market seems to be pricing good news on USD data tomorrow. Maybe the case of "buy the rumor, sell the news". To see.
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"In the end you only trade yourself."
  • #38,827
  • Jul 15, 2021 5:18pm Jul 15, 2021 5:18pm
Quoting R61
{quote} I will try later if possible. {quote} Nice catch on EG , I didn't be on PC at time to take it, but I loaded a few shorts on GC. Market seems to be pricing good news on USD data tomorrow. Maybe the case of "buy the rumor, sell the news". To see.{image}

Yes really liked the EG setup

Looking at the bigger picture on GC i will be looking to exit as soon as possible

"Market seems to be pricing good news on USD data tomorrow. Maybe the case of "buy the rumor, sell the news"

Looks that way but i am selling before the buy and then the sell, especially overnight AU

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 48 KB
  • #38,828
  • Jul 15, 2021 10:02pm Jul 15, 2021 10:02pm
Quoting Wags
{quote} Yes really liked the EG setup Looking at the bigger picture on GC i will be looking to exit as soon as possible "Market seems to be pricing good news on USD data tomorrow. Maybe the case of "buy the rumor, sell the news" Looks that way but i am selling before the buy and then the sell, especially overnight AU {image} {image}
Thank you so much for posting the chart.
  • #38,829
  • Jul 15, 2021 10:11pm Jul 15, 2021 10:11pm
Quoting R61
{quote} I will try later if possible. {quote} Nice catch on EG , I didn't be on PC at time to take it, but I loaded a few shorts on GC. Market seems to be pricing good news on USD data tomorrow. Maybe the case of "buy the rumor, sell the news". To see.{image}
Thank you very much for the kind cooperation sir
  • #38,830
  • Edited 1:37pm Jul 16, 2021 8:13am | Edited 1:37pm
Quoting R61
{quote} I will try later if possible. {quote} Nice catch on EG , I didn't be on PC at time to take it, but I loaded a few shorts on GC. Market seems to be pricing good news on USD data tomorrow. Maybe the case of "buy the rumor, sell the news". To see.{image}
Closed GC +358
2 batches for today.
Attached Image

Closing shop for this week.
Attached Image

If you think that market range situations don't create opportunities, then you may want to reconsider, I got in and out on GC in 7 batches this week.
Just a thought.
"In the end you only trade yourself."
  • #38,831
  • Edited 11:43pm Jul 16, 2021 3:49pm | Edited 11:43pm
OK 3rd week trading pivots and had a great week

Summing up

Had big drawdown on EG early in the week and traded heavily as still liked the setup

Most of my trades had very small drawdown

Even though i had an exit strategy i got out early on most trades and nearly all of them went on to double or more what i took profit on

I am still in AN trade with large DD wouldnt of let it go that far if i hadnt been so far in profit, but AUD had very good news but still dropping against the NZD which also had decent news, but will stay in as feel there is a retrace coming soon and i am well in profit and my trades are bias to the right side if it goes north this way i can even reduce my losses with a small retrace, but wont let it go much further.

Not related to pivot trading but i know that in the past 6 months that my worst DD has been on AUDNZD and on EURGBP and same this week, has anyone else also had bad results with these pairs or maybe this is a coincidence, they also have been very profitable on the other perspective

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  • #38,832
  • Jul 16, 2021 9:11pm Jul 16, 2021 9:11pm
  •  Ekim7
  • | Joined Nov 2019 | Status: Having the time of my life | 70 Posts
I've been pretty busy/tired getting used to my new job. I traded a lot less, and only ended up trading one pair this week.
Still have a great weekend everyone. Thanks a lot of the regular posters! It's cool to see everyone progressing from a distant perspective.
Attached Image
You should really listen to what Davit says
  • #38,833
  • Jul 17, 2021 5:48am Jul 17, 2021 5:48am
Quoting Wags
OK 3rd week trading pivots and had a great week Summing up Had big drawdown on EG early in the week and traded heavily as still liked the setup Most of my trades had very small drawdown Even though i had an exit strategy i got out early on most trades and nearly all of them went on to double or more what i took profit on I am still in AN trade with large DD wouldnt of let it go that far if i hadnt been so far in profit, but AUD had very good news but still dropping against the NZD which also had decent news, but will stay in as feel there is a retrace...

well we started trading this strategy in same time. so i hope we improve in it by time

Iam also in the same trade in audnzd with some drawdown but i think it will correct this week as it so overbought now and Aud should have some strength reaching strong resistances.
  • #38,834
  • Edited 3:17pm Jul 17, 2021 2:39pm | Edited 3:17pm
Quoting Ahmed30
{quote} well we started trading this strategy in same time. so i hope we improve in it by time Iam also in the same trade in audnzd with some drawdown but i think it will correct this week as it so overbought now and Aud should have some strength reaching strong resistances.

Yes i am glad to share any info i can

I dont mind if i am wrong as plenty of people here to put you right or advise for the better

I am liking the shape of bigger PA for AN as well

I am prepared to let it go down to around 1.05250 max, but am optimistic it will bounce from around 1.05500

I have just reset my pivots for next week i do it manually as it is instantly visable to me

I notice that the majority of pairs closed weekly without any retrace and are hovering around the R38/S38 areas, so will be interesting to see how monday pans out

Apart from Aud news early tuesday morning (UK time), its pretty much a Euro week for news so could see some nice setups on Euro pairs

Here is next weeks pivots and Euro charts excluding EN which is hovering between pivot and S38 it also has a smaller range, EG looks like it could retrace to R61 area and so a nice place to start loading trades could be the R38 to catch the move as last week it made a LL, the .85900 area looks nice though, just my opinion

Maybe a sell off for Euro pairs early in the week

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  • #38,835
  • Jul 18, 2021 5:57pm Jul 18, 2021 5:57pm
Already still in my AN trade

Just started to load these

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  • #38,836
  • Jul 19, 2021 2:20pm Jul 19, 2021 2:20pm
heads up Pivoters almost all AUD pairs way over sold head of tonight monetary policy. I anticipate sharp corrections specially on EA ans AU
both worth building positions now.Its been priced in now whatever that policy is.
In trading, you have to be defensive and aggressive at the same time
  • #38,837
  • Jul 19, 2021 3:10pm Jul 19, 2021 3:10pm
Quoting Davit
heads up Pivoters almost all AUD pairs way over sold head of tonight monetary policy. I anticipate sharp corrections specially on EA ans AU both worth building positions now.Its been priced in now whatever that policy is.
Loaded on that.
Also in EC but in some DD.
Attached Image (click to enlarge)
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"In the end you only trade yourself."
  • #38,838
  • Jul 19, 2021 3:43pm Jul 19, 2021 3:43pm
Quoting Davit
heads up Pivoters almost all AUD pairs way over sold head of tonight monetary policy. I anticipate sharp corrections specially on EA ans AU both worth building positions now.Its been priced in now whatever that policy is.
Still holding my AUD pairs
  • #38,839
  • Jul 21, 2021 4:24am Jul 21, 2021 4:24am
Quoting R61
{quote} Loaded on that. Also in EC but in some DD. {image}
That Eurcad trade was my best this month.

looking to enter Euraud but i am hesitant with the news tomorrow.
  • #38,840
  • Jul 21, 2021 4:28am Jul 21, 2021 4:28am
Quoting Wags
{quote} Still holding my AUD pairs
Man i just went out of Audnzd , as it is taking a lot of time to reverse back to my first Entries

took nearly 1% loss but it is fine for me so i can enter another better set ups.
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