Pivot Trading

Yes in these case not rising rates from bank of australia + all these resistances mean bearish swing isn't it?

Yes. The UC is the ONLY pair that I trade.
The US Greenback has been on a rocket ride since May of 2021.
Since , May 2021 , this pair has broken market structure only 1 TIME , and that was in June/July of 2023 , but quickly resumed North literally at the end of July.
1.3977 IS DEFINITELY IN ITS SIGHTS as of today's writing.
If that price is breached with some momentum , then , 1.4666 , established in May of 2018 is certainly attainable.
The complete breakdown in the price of Oil has not helped the Canadian Loonie this year.
Look for the pullbacks in price.
Your weekly economic calendar is and always has been , A MUST !!!!
Personally , I'm watching the Canadian and American weather reports for SEVERE COLD , which will spike the price of oil , I believe for the longer term , and thus lead to a short bias toward the Loonie.
We are getting close right now. PATIENCE IS GOLDEN !!!!!
Sincerely ,
GE

Hi Folks.
As a follow up to my previous post , I am currently BULLISH on the Greenback versus the Loonie.
Also , I WOULD NOT BE SURPRISED TO SEE THE 1.3900 area revisited. THIS IS A PERSONAL VIEWPOINT , NOT ADVICE !!!!!
Of course there would be pullbacks along the way.
PATIENCE IS A VIRTUE !!!!
GE

I agree,

With service pmi still above 50 the US economy is still expanding.
Employment is still good(non Manufacturing)

Regards

will close ea sooner than i thought. still have some position on red

Hello Agooor,
Please can you share the indicator on your chart that is showing the total number of long and shorts trades as well as the P/L . Thanks

everything i had on mt4 is listed on 1st page.

Ok thanks so much! Let me recheck

Hi Folks ,
Excellent example of PRICE ACTION on the UC today and , in addition , "ANYTHING CAN HAPPEN IN FOREX" !!!!
Today was an amazing day.
I'm still bullish on the USD , clearly displayed it's resilience today. UC is in a bullish trend.
Sincerely ,
GE

Hope everyone had a great week.

Huge week coming up traders , make sure that your calendar's are all set.

Manage your accounts wisely !!!!

GE

I believe this way of reading the market is very interesting, but the topic is very old. Could any active trader with time guide me by creating a study guide? Examples: The most relevant pages.





Health.

hi
davits template not work
can you share your template?

hi traders

please someone give me this indicators

i really need them

redards

I think you will find that indi is Nostromo's code. If so it should be this......


These are a few of the settings that are available.

The example chart shows "Count period" as 2. For backtesting, this can be increased to show as many weeks (or days months etc) as requied.
For normal trading, I prefer to show only the current week(1). That will reduce the "clutter" on the chart.

I have also shown "Plot future pivots" as TRUE. These will obviously change as the week progresses and mean nothing, but are valuable for doing analysis over the weekend AFTER close of business if that is of benefit.

Weekly fibs are also an option. I have found that these levels can (and are) respected across a lot of pairs.
I personally only use the weekly pivots and fibs, but the "Time period" setting has several options for whatever suits.

There are obviously numerous other options/settings to select from, but I have shown an example of my settings as per the attached chart.

There is no need for any GMT time differences as the code is looking at the last completed(closed) candle.
There will obviously be slight differences in some price levels between different brokers, because of different open and close pricing, but (certainly with the weekly pivots) there should be only a minimal difference.




These are the settings for the chart above.


I hope this helps some and please ignore if it is of no use to you.
Cheers
Michael

EU extreme move ... looking for sell sell sell ...






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He's taking a long vacation break .

His next move!

EU Nov16 update

- when price made a strong move up and the Weekly Pivot levels extensions

- wait for the TDI to reverse above its 80 level

- then sell sell sell

- manage risks

EURUSD ，I think we need to wait for a pullback before entering, or we would rather not do it！

Hi Folks ,
I'm still a USD BULL !!!!
The US Dollar has shown remarkable resilience in the past 2 weeks.
WTI has not been remarkable as of late.
I suspect that once the OPEC cuts materially affect the inventories Worldwide , then we will see an uptick. The Russia-Ukraine issue may provide "something out of the blue" as well.
Manage your accounts wisely , particularly from now thru to the end of the 1st week in January 2024.
Sincerely ,
GE

the OP is away on long vacation ...

his last move





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