Pivot Trading

BINGO !!! You nailed that trade Nittohanns.
The probability of this trade was screaming at traders.
I was short from R100 , RARELY DO I HAVE AN ENTRY THAT CLOSE TO ACTUAL PA.
Just exited this pair. Very satisfied.
It may continue lower , I don't know.
Dental appt. UGH !!!!!

Have a great weekend everyone ,
GE

Potentially an interesting week ahead with a few opportunities. I've been through the calendar and listed a few of the main points as I see them.
AUD GDP expected at 0.3 up from 0.2 but the actual has often been less than forecast which may be negative for AUD
2 rate decisions for CAD and EUR both expected to hold rates so may have little impact but worth watching.
CAD and USD employment data on Friday.

Tuesday 5th March

Wednesday 6th March

Thursday 7th March


Friday 8th March

GC back on the radar for shorts - nearing ADR high.

Silver for those that are interested.

do you know why gold today is sky rocketing toward the high price of all times ?

Possibly a combination of things.

Weak US data last week, soft tone of gov bond yields, packed data week ahead and rising June fed cut bets.

Tons of profit yesterday on EURAUD Short (of course demo ac.)

NZDCAD short for me, still no clue whether I should put TP at S38 or not.

Short GU - R100 / ADR

Indices US30 just triggered a buy with SL at 38520

Lock 1st TP at S61

AU - Possible for shorts R100/ADR

Eyes on EU

Hello jameboy9864.

On Page 1 of this thread , DAVIT clearly lays out preferred and probabilistic pivot points where PA will fail and thus put in a swing high or swing low.
In your words , you stated that you don't have a clue where your TP should be. Your TP level doesn't matter at all if your entry is entirely wrong.
The WPP is EQUILIBRIUM-there was no bias or a slight bias IN THIS WEEK as to be short or long.
PA clearly shows that this pair has been consolidating since February 28. Thus , anyone trading this pair , WORLDWIDE , had no BIAS as to be long , for a pullback , or short , as a continuation of the trend.
Anyone who does not have at least 2 years of actual LIVE TRADING in the FOREX MARKET , MUST and I mean MUST read EVERY Page on this thread , and spend thousands of hours looking at and understanding charts of all pairs in order to understand PRICE ACTION.
My advice to you is to make sure that you go through this entire thread and understand market structure. A common saying is , "Experience is the best teacher". ---- NOT IF YOUR DOING THINGS WRONG---- You develop bad habits and your brain will happily go along for the ride with you.
Wealth building is a marathon , not a sprint. (Not my words , but , true) On this thread , if you are truly willing to dedicate the time and effort , in my experience , it is virtually impossible not to be consistently profitable. DAVIT put a tremendous amount of time and effort into building this thread so that traders could be successful and we are so lucky to have access to all of this information. PATIENCE is a must.
Regards ,
GE

GU - one to watch for tomorrow maybe. Non-farm at 1.30

Why dont people follow the operational guidelines outlined in this topic? Everything is laid out on the first page, yet I see many individuals modifying the operational procedures.
Its a simple strategy that works, yet they keep overcomplicating things

Last two weeks. Missed out of the GA/EA moves south.. so disappointed. Still holding some AU shorts.

Thank you so much for pointing out the correct one. I was also experiencing the same issues with the wrong one previously.

EG could be worth watching next week as in the buy zone.
Not much for the EUR next week but we have GBP claimant count change on Tuesday and GDP on Wednesday so worth keeping an eye.