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Pivot Trading

  • #43,521
  • May 31, 2023 1:18am May 31, 2023 1:18am
GA could be good for shorts. At good resistance on the weekly. Currently at 1.91. Could go to 1.92.
R78 and ADR exceeded. Looking like good confluence.
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Successful trading is intrinsic to risk management and discipline
  • #43,522
  • May 31, 2023 2:20am May 31, 2023 2:20am
Some of JPY pairs at good levels. Looking for longs.
  • #43,523
  • May 31, 2023 2:50am May 31, 2023 2:50am
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Long entry of EJ
  • #43,524
  • May 31, 2023 2:52am May 31, 2023 2:52am
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LONG ON EG
  • #43,525
  • Edited 4:46am May 31, 2023 4:19am | Edited 4:46am
Quoting fxandthedax
{quote} There are only 2 templates , the indicator is not there. You may have the indicator?
Attached File(s)
File Type: ex4 ZUP_v135_ALL.ex4   247 KB | 290 downloads
Attached File(s)
File Type: ex4 PZ_Harmonic.ex4   59 KB | 296 downloads







try these
Attached File(s)
File Type: ex4 ZUP_v135_ALL.ex4   247 KB | 331 downloads
File Type: ex4 PZ_Harmonic.ex4   59 KB | 340 downloads
  • #43,526
  • May 31, 2023 4:45am May 31, 2023 4:45am
Hello Davit,

great thread and strategy. I found it a couple of weeks ago and reading itt horoughly and making notes along the way, now being a couple of hundred pages in.

I really like your concept of position building and stop loss based on $amount instead of hard stop loss, and already put it to work successfully. My only problem with it is practicallity in some situations. How would you exit a loosing trade manually if you are not monitoring your trade all the time. Lets assume your trade would go over your $amount for a stop loss during your sleep. Do you still have a hard SL for those situations as back up or?

If this was answered somewhere in the next hundred pages i didn't read yet, i am deeply sorry.

Br,
Juri
  • #43,527
  • Edited 5:16am May 31, 2023 5:01am | Edited 5:16am
I have gone long NZD/CAD as I expect a bit of profit taking before CAD GDP. Chinese data is out of the way so USD news will be in focus now.

Target S1, however I will close if it can't take out the round number as that would signify another lower high intraday.
Fibonacci Pivot Points: Advanced Forex Indicator for Trading Strategies and Market Trends (actionforex.com)

Sorry I don't have meta trader.

Closed. Couldn't even make it to 82.
  • #43,528
  • May 31, 2023 5:29am May 31, 2023 5:29am
Quoting nittohanns
GA could be good for shorts. At good resistance on the weekly. Currently at 1.91. Could go to 1.92. R78 and ADR exceeded. Looking like good confluence. {image}
Yup....it looks high probability short setup
  • #43,529
  • May 31, 2023 6:37am May 31, 2023 6:37am
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Patterns all the way from Month to hour.. waiting for 15min
  • #43,530
  • May 31, 2023 6:41am May 31, 2023 6:41am
sold Gbp/aud
  • #43,531
  • May 31, 2023 7:26am May 31, 2023 7:26am
Quoting StarChild10
{image} {image} {image} Patterns all the way from Month to hour.. waiting for 15min
I think 1h or 4h confirmation will be a much better option
  • #43,532
  • May 31, 2023 9:18am May 31, 2023 9:18am
[quote=alish746;14443787]{image} LONG ON EG[/quote
That's a simple and clean template. Do you mind if you could share your template ? Especially the ADR indicator. Cheers.
  • #43,533
  • May 31, 2023 9:34am May 31, 2023 9:34am
Quoting juri93
Hello Davit, great thread and strategy. I found it a couple of weeks ago and reading itt horoughly and making notes along the way, now being a couple of hundred pages in. I really like your concept of position building and stop loss based on $amount instead of hard stop loss, and already put it to work successfully. My only problem with it is practicallity in some situations. How would you exit a loosing trade manually if you are not monitoring your trade all the time. Lets assume your trade would go over your $amount for a stop loss during your...
Hi Juri,

Welcome to the thread. Just keep reading. Davit will probably answer when he can, he has his own way of exiting losing trades, based on what he knows about the pairs he is trading. And yes, he has answered this question many times. It is more of a personal decision, he does seem to exit manually though from what I have seen. He does tend to focus more on a person learning the system and using their own critical thinking to decide how they want to trade.

There is an indi somewhere that averages a basket of trades to give you an exit to accommodate whatever loss you decide, 3%-4%. Some here aim for 3% drawdown on any trade with multiple entries. It is a continuing exercise in discretion, pivot levels and fundamentals. Good luck!
  • #43,534
  • May 31, 2023 9:40am May 31, 2023 9:40am
Watching NC long between S61-S78. Looks like a nice opportunity.

Who sold JPY, CONGRATULATIONS!!!


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  • #43,535
  • May 31, 2023 9:56am May 31, 2023 9:56am
Expect a little volatile market today as it's month end. So these moves are nothing weird.

EG hit S100 and ADR low. Depends on your risk appetite when to go long. I will wait 0.859-0.857 area. If not hit, no trade.
  • #43,536
  • May 31, 2023 10:14am May 31, 2023 10:14am
100 pips profit in, another 100 pips to go.
target 1.0560
now almost half way there!
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  • #43,537
  • May 31, 2023 12:17pm May 31, 2023 12:17pm
Quoting emmkwad
hi guys took a long break but was still following watching EURJPY closely for sells
EURJPY selling nicely
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  • #43,538
  • May 31, 2023 12:28pm May 31, 2023 12:28pm
Expecting further sells on EURJPY after some retracement
Also watching GBPJPY for sells
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  • #43,539
  • Jun 1, 2023 2:55am Jun 1, 2023 2:55am
Increased trade size on my favored pairs a bit and got my 10% in May.

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  • #43,540
  • Jun 2, 2023 4:50am Jun 2, 2023 4:50am
Quoting nittohanns
GA could be good for shorts. At good resistance on the weekly. Currently at 1.91. Could go to 1.92. R78 and ADR exceeded. Looking like good confluence. {image}
I hope some of you took the GA trade. Great move from R100 (weekly resistance). Nice weekly pinbar forming now.
Successful trading is intrinsic to risk management and discipline
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