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Pivot Trading

  • #40,961
  • Dec 5, 2022 8:46am Dec 5, 2022 8:46am
EURCAD big DD from last week. All positions still open
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  • #40,962
  • Dec 5, 2022 1:10pm Dec 5, 2022 1:10pm
Quoting MuniFX
{quote} might have been the right decision. we see higher lows.. tomorrow new month candle opens.. (retest of yearly open @1.435x still possible)
eurcad
1 trade still open from last week r100 (@1.4050)
now added another one (@1.4260)
Muni loves you all!
  • #40,963
  • Dec 5, 2022 2:12pm Dec 5, 2022 2:12pm
CAD/JPY - Buy
AUD/USD - Sell
AUD/CAD - Sell

Hello traders

1 - The first trade came out beautiful.

2- I closed the next 2 trades as rates are expected to rise in AUD. I held the trades unnecessarily long and should have closed them on the first drop, a PIVOT would have worked beautifully and I would have actually come out in the green numbers ( or a bit red, I won't count it)
I put this here because the system works great, but it's only your (my) fault if you break it and don't follow it, or have a bad MM. Oh and sometimes it doesn't work out :-), it happens, but remember, it depends at the end of the month/week what the result is.

3 - Today I got lucky on XAG/USD, nice drop but unfortunately I didn't hold the whole time due to a big position. But never mind even that was little enough to erase the loss from point 2

4 - Personally I like the chances on AUD/JPY if there is a rate hike...it will be great :-)

5 - I think CAD will be weak now because of oil, but isn't this a chance to build positions???
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It's not a dream. Chipsa is real!
  • #40,964
  • Dec 5, 2022 4:18pm Dec 5, 2022 4:18pm
My first real loser as well, although two positions made it in the green. Should have closed it after NFP last friday
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Seek first to understand, then to be understood
  • #40,965
  • Dec 5, 2022 10:28pm Dec 5, 2022 10:28pm
AUDJPY looks like it may close above the pivot on the hourly chart..have a look gents.
  • #40,966
  • Dec 5, 2022 11:23pm Dec 5, 2022 11:23pm
audjpy is just teasing us .....teeasing us!!!
  • #40,967
  • Dec 6, 2022 4:10am Dec 6, 2022 4:10am
Big thanks to Davit for sharing his way of trading!
Love the template!

Had a nice shot on GA last night...
First entry kinda early but loaded another two trades and played out nicely.
Could could coul could.... hold it longer, but did set a close target because I was sleeping

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  • #40,968
  • Dec 6, 2022 9:58am Dec 6, 2022 9:58am
Quoting MuniFX
{quote} might have been the right decision. we see higher lows.. tomorrow new month candle opens.. (retest of yearly open @1.435x still possible)
Quoting MuniFX
{quote} eurcad 1 trade still open from last week r100 (@1.4050)
now added another one (@1.4260)

added one more trade @1.4340 (r78)
(new average price is now 1.4233)

above yearly open at 1.435x, I have 1.447x (q4 r3) and 1.478x (untested yearly pivot) as next sell levels

..
Muni loves you all!
  • #40,969
  • Dec 6, 2022 11:46am Dec 6, 2022 11:46am
first potential trade for the week. cad where i want it to be. news and price action will give the edge!
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  • #40,970
  • Dec 6, 2022 2:41pm Dec 6, 2022 2:41pm
Quoting maxcapital
first potential trade for the week. cad where i want it to be. news and price action will give the edge! {image} {image}
Hi Traders , I am watching the UC for a significant reversal. BOC release tomorrow coupled with WTI poised to significantly strengthen. MIGHT just be worthwhile to watch this pair closely.

Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #40,971
  • Dec 6, 2022 2:48pm Dec 6, 2022 2:48pm
Quoting Davit
Hi guys Be focused on Canadian dollar next week.We got rate on Weds.All C pairs are extremely oversold specially GC and EC I think we should see major corrections specially on GC 200-400 pips not ruling out. Anyway thought to share
I hope you guys nailed this! GC perfect Pivot turn around! Sometimes even I get surprised accuracy of it
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In trading, you have to be defensive and aggressive at the same time
  • #40,972
  • Dec 6, 2022 4:02pm Dec 6, 2022 4:02pm
Quoting MuniFX
{quote} falled down since, looks like it wants to visit yearly pivot first.. i will buy there (price right now @ week 46 s78)
closed 75% of my oil shorts.
(still think it will test yPivot)
Muni loves you all!
  • #40,973
  • Dec 6, 2022 4:07pm Dec 6, 2022 4:07pm
oil q4 s1 is below yearly pivot
Muni loves you all!
  • #40,974
  • Dec 7, 2022 12:27am Dec 7, 2022 12:27am
Quoting ninner
AUDJPY looks like it may close above the pivot on the hourly chart..have a look gents.
I try some right now, SL at 91.50
Muni loves you all!
  • #40,975
  • Dec 7, 2022 12:35am Dec 7, 2022 12:35am
Quoting MuniFX
{quote} I'll join you after price hit 1,056x...
Quoting MuniFX
{quote} eu .. here we are first order triggered

closed 25% at 1.0450
Muni loves you all!
  • #40,976
  • Dec 7, 2022 1:20am Dec 7, 2022 1:20am
GBP/AUD - Sell
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It's not a dream. Chipsa is real!
  • #40,977
  • Dec 7, 2022 2:25am Dec 7, 2022 2:25am
GBPAUD
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  • #40,978
  • Dec 7, 2022 5:23am Dec 7, 2022 5:23am
reloading opportunities on EC GC GA UC
love these bounces
I personally like shorting UC and GC
UC less margin used.USD should decline going forward cross all pairs.The Cycle has already started.
In trading, you have to be defensive and aggressive at the same time
  • #40,979
  • Dec 7, 2022 7:55am Dec 7, 2022 7:55am
Got in too early on the UC but looking good for expectation to hit the pivot. Ignore the pink arrow thats PZ harmonic indi just tided up to do an arrow

R
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Pip Student
  • #40,980
  • Dec 7, 2022 9:59pm Dec 7, 2022 9:59pm
My EC and UC trades. Some EC positions got stopped out again, need more discipline and need to keep that FOMO in check
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Seek first to understand, then to be understood
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