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Attachments: Pivot Trading
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Pivot Trading

Quoting MuniFX
{quote} For this decision I use higher TFs and mid-term to long-term analysis. (Historical statistics on how price moved on past pivot zones helps too. That requires time and effort spend more on excel than on charts .) But to each his own.
Good shout, this. I'll start looking at HTF's when thinking about adding multiple positions to a trade already in profit etc
looks nice
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Pip Student
eurusd pending sell at 1.095x (w-R100 w-R2 20d.ADR.high m-R100 y-body61.8fib etc.)
Muni loves you all!
sold some audcad for end of month correction +wr100 +qr1

(my feeling is, its one day to early, but lets see.. risk management in place, so feeling doesnt matter)
Muni loves you all!
EC in profit letting it RUN
AC in DD reasonable letting it run.
Decent day
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In trading, you have to be defensive and aggressive at the same time
Quoting pipmaster77
https://www.fxstreet.com/analysis/ba...ST_EMAIL_ID%5D As always, careful of statement afterwards. This may be CAD last hike for awhile.
PA showed you were correct.Still think CAD will bounce considering 4.5% is pretty good carry over rate.Canadian economy doing reasonably well considering global factors
Always good to see your posts
In trading, you have to be defensive and aggressive at the same time
Short AU good size 7104
IMO USD should bounce! based on Pivots recoil factor
Closest Fib correction 7026 38.2 my target happens to be ADR low
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In trading, you have to be defensive and aggressive at the same time
To new traders
When you dont read 1st page then ask trading 101 questions you will be removed permanently from here!
In trading, you have to be defensive and aggressive at the same time
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Love Her no I adore her! Amazing artist with wonderful unique voice!
In trading, you have to be defensive and aggressive at the same time
still some drawdown in cad pairs
close the day today
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the highest point comes before the fall
regarding eurcad: there is still the untested y2022pivot @1.478x on my mind.
4 daily candles till month end. if a touch occurs during end of january I consider opening a larger position and speculate on a red february candle.
Muni loves you all!
eurcad: between price now (= also last year high) and y2022pivot, there is y2023 r38 @1.467x (=this weeks r61) and y2022 body 261.8 fib @ 1.472x (=half way between this weeks r78 and r100)

on h4 tf we have a double top right now, so it can fall from here too (without hitting the higher levels)
Muni loves you all!
thoughts on fundamentals:
the talk is that china "opening again" is good for eu economy and euro,
also if china again buying more australian coal and lng its good for aud.
how much it is already priced in is speculative!
Muni loves you all!
Still holding my AU short EC AC shorts

US Advance GDP q/q may prove better then forcast
I dont expect much until this release. AUD unusually strong.My take MM draining liquidity pools.Real moves will happen later

Another factor most Asian banks trade Asian currencies hence AUD getting all the love.Once London opens things may change
In trading, you have to be defensive and aggressive at the same time
Closed EC
If bounces up may reload
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In trading, you have to be defensive and aggressive at the same time
USD pairs are compressed specially over bought AUD
If GDP comes out anything green I anticipate USD bouncing up strong!
In trading, you have to be defensive and aggressive at the same time
Quoting Davit
USD pairs are compressed specially over bought AUD If GDP comes out anything green I anticipate USD bouncing up strong!
As always thanks for your wisdom. AUD standing strong atm. I am heavy on the short side. AU went south immediately after the green USD GDP print, but seems to have recovered somewhat and showing some strength. Continuing to hold my shorts i'm in some DD however.
Quoting kingdomk
{quote} As always thanks for your wisdom. AUD standing strong atm. I am heavy on the short side. AU went south immediately after the green USD GDP print, but seems to have recovered somewhat and showing some strength. Continuing to hold my shorts i'm in some DD however.
I closed on the dip down when it didn't slide below 71. I'm sitting out. Most of the dollar games will be had next week with FOMC. The currency is still project to weaken so it all depends on your leverage and resources. The dollar selling is still overstretched.
Quoting kingdomk
{quote} As always thanks for your wisdom. AUD standing strong atm. I am heavy on the short side. AU went south immediately after the green USD GDP print, but seems to have recovered somewhat and showing some strength. Continuing to hold my shorts i'm in some DD however.
Most days real moves happen at London close 10.30-11am when positions get closed
In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} Most days real moves happen at London close 10.30-11am when positions get closed
Good point, profit taking / closing ON positions. I can see AU spiking up so closed my heavy DD positions and will look to enter short again as it creeps up higher closer to WP100
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