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Pivot Trading

  • #42,901
  • Apr 5, 2023 8:22am Apr 5, 2023 8:22am
Some refresher trading concepts
Be aware of day open I dont have it on my chart for no reason! Day open creates its own S/R
GC example may test D/O then head south
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In trading, you have to be defensive and aggressive at the same time
  • #42,902
  • Apr 5, 2023 8:38am Apr 5, 2023 8:38am
Update
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It's not a dream. Chipsa is real!
  • #42,903
  • Apr 5, 2023 8:39am Apr 5, 2023 8:39am
Quoting Davit
Closed more EN {image}
You rocked it today.
It's not a dream. Chipsa is real!
  • #42,904
  • Apr 5, 2023 8:40am Apr 5, 2023 8:40am
Quoting John Chipsa
{quote} You rocked it today.
WAit there is more
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In trading, you have to be defensive and aggressive at the same time
  • #42,905
  • Apr 5, 2023 8:55am Apr 5, 2023 8:55am
Quoting Davit
{quote} WAit there is more {image}
This is what someone earning $50K/yr at a job makes IN A MONTH.....just sayin'
  • #42,906
  • Apr 5, 2023 10:04am Apr 5, 2023 10:04am
GC short
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In trading, you have to be defensive and aggressive at the same time
  • #42,907
  • Apr 5, 2023 10:47am Apr 5, 2023 10:47am
Quoting Davit
Some refresher trading concepts Be aware of day open I dont have it on my chart for no reason! Day open creates its own S/R GC example may test D/O then head south {image}
Hello Davit - what settings are you using for the daily_open_line? Mine appears to be a little off. I also use Oanda. I suspect my TimeZoneofData field might be off in the daily_open_line indicator.
  • #42,908
  • Apr 5, 2023 12:27pm Apr 5, 2023 12:27pm
Quoting profits7
{quote} _________________ on my way to TP2 @2039 {image}
________________ still hav my 4 longs xu
Don’t focus on making $$$, focus on protecting what you have.
  • #42,909
  • Apr 5, 2023 1:26pm Apr 5, 2023 1:26pm
Closed GC and call it a day
what a great day! Over 4k
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In trading, you have to be defensive and aggressive at the same time
  • #42,910
  • Apr 5, 2023 1:28pm Apr 5, 2023 1:28pm
Quoting Rjaws
{quote} Hello Davit - what settings are you using for the daily_open_line? Mine appears to be a little off. I also use Oanda. I suspect my TimeZoneofData field might be off in the daily_open_line indicator.
I have mine on zero but you can play with it until get just right 1 2 3 4 5 or -1-2-3-4-5
few pips off is irrelevant
In trading, you have to be defensive and aggressive at the same time
  • #42,911
  • Apr 5, 2023 2:32pm Apr 5, 2023 2:32pm
Quoting Davit
{quote} I have mine on zero but you can play with it until get just right 1 2 3 4 5 or -1-2-3-4-5 few pips off is irrelevant
Looks like zero works for me as well - thanks Davit!
  • #42,912
  • Apr 5, 2023 2:44pm Apr 5, 2023 2:44pm
Quoting profits7
{quote} ________________ still hav my 4 longs xu
Hi, when did you enter long gold. I'm curious.
Successful trading is intrinsic to risk management and discipline
  • #42,913
  • Apr 5, 2023 6:16pm Apr 5, 2023 6:16pm
probable long on EG
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  • #42,914
  • Apr 6, 2023 2:22am Apr 6, 2023 2:22am
Quoting Davit
Some refresher trading concepts Be aware of day open I dont have it on my chart for no reason! Day open creates its own S/R GC example may test D/O then head south {image}
In the years I have been trading Davit's concept there is one simple indicator I recommend. The Previous Day High, Low and Close. Use in conjunction with the Daily Open and London Open. I express gratitude to Erebus for insight into this simple indicator. The previous Day High, Low and Close may also act as support/resistance. Do an exercise with many charts and you may well agree?
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Attached File(s)
File Type: ex4 Daily-High-Low-Close-indicator.ex4   11 KB | 347 downloads
File Type: mq4 Daily-High-Low-Close-indicator.mq4   4 KB | 445 downloads
  • #42,915
  • Apr 6, 2023 3:03am Apr 6, 2023 3:03am
Probable short GA
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  • #42,916
  • Apr 6, 2023 3:33am Apr 6, 2023 3:33am
Quoting Gmo
{quote} In the years I have been trading Davit's concept there is one simple indicator I recommend. The Previous Day High, Low and Close. Use in conjunction with the Daily Open and London Open. I express gratitude to Erebus for insight into this simple indicator. The previous Day High, Low and Close may also act as support/resistance. Do an exercise with many charts and you may well agree? {image} {file} {file}
Hi GMO
Glad to "see" you here again! Hope everything is ok in your world.Thank you for the indicator.I have used this indi before and dont know why I stopped.Will add it to my chart! Thanks again
In trading, you have to be defensive and aggressive at the same time
  • #42,917
  • Apr 6, 2023 3:34am Apr 6, 2023 3:34am
Quoting hamoka
Probable short GA{image}
Most of G pairs are over stretched.
It doesnt seem you read the thread much I suggest you do.Pay attention to calendar events
In trading, you have to be defensive and aggressive at the same time
  • #42,918
  • Apr 6, 2023 3:35am Apr 6, 2023 3:35am
Quoting nittohanns
{quote} Hi, when did you enter long gold. I'm curious.
_________________ post 42872
Don’t focus on making $$$, focus on protecting what you have.
  • #42,919
  • Apr 6, 2023 3:52am Apr 6, 2023 3:52am
EN is at close to ADR High
with 5.25 you'll earn +swap as a bonus
In trading, you have to be defensive and aggressive at the same time
  • #42,920
  • Apr 6, 2023 4:02am Apr 6, 2023 4:02am
Quoting profits7
{quote} _________________ post 42872
Yeah saw that. So you went long at ADR high when price was above R100. Risky move no? it worked out for you so well done. Personally I can't sell Gold but it's heading for or at historic resistance. Just my 2 penny worth!
Successful trading is intrinsic to risk management and discipline
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