Pivot Trading

Good morning Pivoters

We got light news events next week and its recommended to go over them get familiarize.

AUD CPI Projection is positive. 7.3 from previous 6.9


What can I do with this information?

1st Where is AU closed last week. 6875-80 strong R. That came after NFP then impulse dumping of USD and no correction.Move like that has minimum 20% correction normally profit taking hence 6850-45 I anticipate to hit beginning of the week prior of event Tues. AUD/NZD stuck at around 850 place that on your watch list! Either it breaks north or south.Its on my trading pair next week.
That's my overview on AUD then lets narrow down.

My approach is this.
A. Event projection is positive
B. Does market buy AUD prior of event?
C. Does market sell AUD because good news is already priced in?

We cant know obviously how market will act before hand but we are already prepared to act accordingly.Its important if you do sell prior of event and price does drop 6850-45 you should get out and anticipate another push up to 6880 or even 69.Point here dont get stuck selling before the event.I want you guys develop conscious awareness of event and market moves prior and after event.
Remember when trading USD its important to understand its strengths can overtake other currencies fundamentals hence despite everything I wrote price can smash down 68.20-68 before the event.When I am not sure direction of USD I consciously shift my focus on none USD pairs like AUD ,CAD crosses which are my favorites. AUD/NZD falls in this category.That possibility is there!In short trading is fluid activity its constantly shifting and you got to get in sink with the market.Get in the zone!
Here is to next week

Hi guys

There is a lot of talk about position size. My view is if you can make more money working at minimum job then trading then you are doing disservice to yourself.Let me explain suppose you open typical 500 dollar account and trade 10c size you could make money however amount of effort vs time invested becomes worthless furthermore because gains and losses are so minuscule you are not getting psychological impact that requires in real trading.Often you hear people say no more then 1% account on any position.To me this is wrong position size is depended on skill level.I often risk over 10% and rip the rewards.I have specific goal I want to achieve and 1% is not gonna do it.In short risk what you are comfortable with and have exit strategy to get out if it does not work out.

Hi Davit,

An interesting one I think people starting out should do half a % a pair max starting out try stick to that for good 3-4 months. By then the system in-play would be embedded in and they should fully understand what there own skill will or wont return.

Would I risk 10% a pair if I could get away with it, cause I would. One the areas I have to work on over-lotting if I had a bad run. If I had the patience I would say I should do 0.01 lots for 6 months but am too impatient for that. Risking half a % a pair I can sleep very well.

See had funding from prop firm before but only lasted one payout :-D
R

One more thing I like to share.

There is constant noise people keep saying study your mistakes so you can improve.That's fine to certain point but I will say study the TRADES THAT WORKED!
What did you do? and repeat what worked! Its positive reinforcement instead of negative reinforcement.Brain is a remarkable organ it manifests out what you are thinking!

News Works.

Tuesday potential spikes on end London
AU
GU
UC

Wednesday posible CAD spike early hours

Thursday possible spikes mid london at event time
AU
GU
UC

I love the effort you put into it.That focuses lot of things.Its not about predicting the future .Its developing awareness potentiality of direction

Example USD CPI is Thurs slightly positive
GBP GDP is later Fri night 2am negative
From this little info we can anticipate GU getting dumped right after USD CPI or after GDP

Note also UC finished the week at the bottom of swing and likely bounce up 35+

People who have been on this thread long time know I only trade one direction only until I see no edge.Which means I mainly trade direction of main break outs and trend.Example although UC may bounce 35+ its been going down main trend weekly monthly hence I will only look to sell the rallies.There are exception to this but how I trade generally.

GU Scalp between pivs

USD continues to hemorrhage but signs bleeding is stopping.

Powell speaking tomorrow may provide stimulus
Notice GU and AU R61

Active.

Reload on GU.

Be aware of ADR's
EC

Ah good catch did not have that on the radar being not near the R38 yet will put that on the watch list for sign of shorts.

Ich habe die Erfahrung gemacht, dass zwischen zwei Pivots, zB bei EC zwischen WPivot und R38 in diesem 100% Abstand bei 25%, 50% und 75% die Umkehrungen stattfinden können. Der Hauptwendepunkt ist natürlich immer die jeweilige Haupt Ebene, aber es gibt noch Nuancen zwischen 2 Ebenen, die in einer niedrigeren Zeitebene zum Umkehren verwendet werden können.
Viele Händler scheinen danach zu suchen

NAS and Gold at R61 as well. I'm in gold.

Took 1/2 gold, moved to stop to BE. Target is the weekly pivot.

Not played with NAS yet hope to one day soon

Thanks for the enlighten..

finished today

few more closed

My results for today