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Pivot Trading

  • #41,701
  • Jan 27, 2023 3:05pm Jan 27, 2023 3:05pm
And for the month of January...
Not a bad start to 2023 thanks to PIVOTS (PPE) & Davit
Long may this continue. Great Thread
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Successful trading is intrinsic to risk management and discipline
  • #41,702
  • Jan 27, 2023 3:08pm Jan 27, 2023 3:08pm
Quoting nittohanns
And for the month of January... Not a bad start to 2023 thanks to PIVOTS (PPE) & Davit Long may this continue. Great Thread {image}
Huge congratulations on a massive result for January. Keep it up!
  • #41,703
  • Jan 27, 2023 10:58pm Jan 27, 2023 10:58pm
Quoting Uru
{quote} Hello Davit: could you advise me with a pivot indicator that works on M1, do you know any? I would really appreciate it, if you tell me the name, or where I can download it. a hug and good weekend
You need to understand what pivot is once you do then you will realize how pointless your question is.Dont mean any rudeness but you need to understand what you are talking about.Pivot is leading indicator I will leave it at that.
In trading, you have to be defensive and aggressive at the same time
  • #41,704
  • Jan 27, 2023 11:21pm Jan 27, 2023 11:21pm
To succeed in forex you must apply yourself.Go over the calendar make notes to yourself.Have an awareness what's coming.
I would go further practice positive mental pictures of successful trades you closed.Try reinforcing what worked for you and avoid what didn't.
You only trade yourself market is neutral.
here is for next week

seeing spectacular gains using my system gives me great joy!Keep it up
In trading, you have to be defensive and aggressive at the same time
  • #41,705
  • Edited Jan 28, 2023 12:16am Jan 27, 2023 11:23pm | Edited Jan 28, 2023 12:16am
Have a good weekend to all Pivotter! Very excited to see the positive results from others.
One advance from Davit's strategy is that the order size to be divided to many small - tiny lots.
But I guess, for the less advance trader, Davit also mentioned that the placing traditional order (one order at the pivot S-R area once the PA confirms) with proper R:R control will work as well.
Could any one here willing to share how you place the traditional orders using pivot rules?

Thanks Davit and All for a great posts in the group!
  • #41,707
  • Edited 2:13pm Jan 28, 2023 1:47pm | Edited 2:13pm
NZDUSD
Are we seeing a ABCD Extension pattern.
1. D1 first support shows at R100
2. Extension (161.8) equal to D1 38.2
3. Normally this is an BULLISH pattern to buy, maybe after Federal Funds Rate Wednesday or NFP Friday.
4. If the Fed or NFP dissapoint I will be willing to buy?

EURAUD
1. Just waiting for conformation then will be looking to buy. (PA)(ADR)
2. Main financing rate for Wednesday.(EUR)
3. As Davit would say S38 may always go to R61(78.6).
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We obey the structure that results from the market's reaction
  • #41,708
  • Jan 29, 2023 4:47am Jan 29, 2023 4:47am
EC - watching for shorts but will see what happens following CAD GDP on Tuesday and EUR refinancing rate on Thursday.
I won't trade the weekly chart as a much higher timeframe but useful to see the overall picture when zoomed out. Will be looking for entries in accordance with PPE on smaller timeframes.
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Successful trading is intrinsic to risk management and discipline
  • #41,709
  • Jan 29, 2023 5:10am Jan 29, 2023 5:10am
GU - Watching to short
Lots happening on Wednesday and Thursday which could impact
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Successful trading is intrinsic to risk management and discipline
  • #41,710
  • Jan 29, 2023 9:00am Jan 29, 2023 9:00am
Quoting nittohanns
EC - watching for shorts but will see what happens following CAD GDP on Tuesday and EUR refinancing rate on Thursday. I won't trade the weekly chart as a much higher timeframe but useful to see the overall picture when zoomed out. Will be looking for entries in accordance with PPE on smaller timeframes. {image}
I want to help you to be more profitable and others.
We got three central banks releasing rates and market can react in surprising ways therefore I would suggest be open minded and have no real biases and let the market show you the way
regards
In trading, you have to be defensive and aggressive at the same time
  • #41,711
  • Edited 10:08am Jan 29, 2023 9:08am | Edited 10:08am
Looking back last week now its obvious why AUD was so stubborn to fall. Well looks like we got rate coming up Feb 6
Market may very well price in more "good news" before dumping AUD in bucket loads

Its likely EA may go further south 5250 even below 52 and AN break 1.1 above

I remain open to what market may do but good to know why AUD was so strong last week
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In trading, you have to be defensive and aggressive at the same time
  • #41,712
  • Jan 29, 2023 9:27am Jan 29, 2023 9:27am
Lessons learned mistakes observations to self.

Made great % return last week however I am deeply pissed at myself for getting out EC short very early 4560'sh .Looking at my return I made 4% highest from EC last week but could of easily been 10%. Its something every trader works on.Constant fine turning.We all been there you are in decent profit dont to take profit price turns and all your gains gone then you are upset why you didn't take TP.Its constant reality in trading.Its something I am still working on.
Overall great week giving myself credit for closing AN and AJ and not hanging out hoping for break out.
lets make that next week!
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In trading, you have to be defensive and aggressive at the same time
  • #41,713
  • Jan 29, 2023 9:42am Jan 29, 2023 9:42am
Knowing AUD rate coming next week (Feb 6th) its possible AN hitting that magic fib 61.8
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In trading, you have to be defensive and aggressive at the same time
  • #41,714
  • Jan 29, 2023 11:09am Jan 29, 2023 11:09am
Quoting Davit
{quote} I want to help you to be more profitable and others. We got three central banks releasing rates and market can react in surprising ways therefore I would suggest be open minded and have no real biases and let the market show you the way regards
Thanks Davit, much appreciated. Watching for price action will be key.
Successful trading is intrinsic to risk management and discipline
  • #41,715
  • Jan 29, 2023 12:19pm Jan 29, 2023 12:19pm
Quoting Davit
Looking back last week now its obvious why AUD was so stubborn to fall. Well looks like we got rate coming up Feb 6 Market may very well price in more "good news" before dumping AUD in bucket loads Its likely EA may go further south 5250 even below 52 and AN break 1.1 above I remain open to what market may do but good to know why AUD was so strong last week {image}
Davit what I see is also very intresting. Any thoughts?
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We obey the structure that results from the market's reaction
  • #41,716
  • Jan 29, 2023 12:35pm Jan 29, 2023 12:35pm
Quoting Egbert
{quote} Davit what I see is also very intresting. Any thoughts? {image} {image}
Its hard to say because of rate coming up its likely MM buying up AUD maybe until ECB then dump after.
This is one of those situations when wait and see best course of action.Furthermore lot of buyers are trapped on EA so greedy MM may gun down to take them out before swing up north.
We also got ECB and that may trigger move north.
regards

Remember it doesn't matter how market moves we trading pivots will capitalize from it.Its leading indicator instead of lagging
In trading, you have to be defensive and aggressive at the same time
  • #41,717
  • Jan 29, 2023 12:36pm Jan 29, 2023 12:36pm
euraud levels i watch if it goes south
mS61 is at 1.521x
qS38 is at 1.521x
qS1 is at 1.516x (this i guess has the strongest attraction - corresponce to agrees with egberts 161.8 level-zone)
Muni loves you all!
  • #41,718
  • Jan 29, 2023 12:58pm Jan 29, 2023 12:58pm
There are always 3 possible scenarios

market goes up
market goes sideways
market goes down

if one prepare for all 3 possible scenarios one will always have a gameplan and know what to do, one will never be caught of guard.
Muni loves you all!
  • #41,719
  • Jan 29, 2023 1:38pm Jan 29, 2023 1:38pm
Quoting Davit
Lessons learned mistakes observations to self. Made great % return last week however I am deeply pissed at myself for getting out EC short very early 4560'sh .Looking at my return I made 4% highest from EC last week but could of easily been 10%. Its something every trader works on.Constant fine turning.We all been there you are in decent profit dont to take profit price turns and all your gains gone then you are upset why you didn't take TP.Its constant reality in trading.Its something I am still working on. Overall great week giving myself credit...
This is a classic, I have it too, but on the other hand, it's better to make a profit than to keep hoping it will turn around, because in the end it can be a fatal DD. At most, I used to do, close 90 -95% of the position and leave the rest. It makes for some pretty interesting results, not much on one pair, but maybe on 10? yeah it's working :-)
It's not a dream. Chipsa is real!
  • #41,720
  • Jan 29, 2023 10:47pm Jan 29, 2023 10:47pm
Took some short trades on AJ
It moved I followed
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In trading, you have to be defensive and aggressive at the same time
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