Hello
Someone now what's happen with olaha???
Someone now what's happen with olaha???
Alternative Trade Management/Money Management Methods 3 replies
Open Trade near Pivot line (Pivot Point) 14 replies
Money Management / Risk Management 24 replies
Pivot Point with Money Management Strategy 1 reply
Pivot point reference point? 7 replies
Dislikedhi
i found another one eur/jpy right now .00:00 GTM.price broke 1h-s1 at 167.04,test the 4h-s1 166.92.now the STO on 15m is oversold,it need retrace .i will wait .look like 4h-s1 or 4h-r1 are important .just like a door ,price need break it to enter the 4H S1-S3 area.Ignored
Dislikedhi olaha
glad to see you again.
in last week ,i got about 5 trades on gbp/usd and eur/jpy ,not too many but they are all good ones.thank again.
i found pivot is very good thing.see the pivot and check the price,it match very well.
but some time the price just out of the 4H range with a big move,and it is still moving with the 1H range. what can we do at that time ?do you trade those ?
thx.
hope you can come back asap.Ignored
DislikedThe answer for your question;
To enter the market either buy or sell is depends on the PP level.
If the price above the PP level for daily... bullish
price below the PP level for daily...bearish
When we know either bullish or bearish...
than we have to wait until the price retest the R1 for buy,
S1 for sell. (4 hrs or 1 hr Pivot)
After the price retest the R1 for buy or S1 for sell - make sure the price doesn't retrace at Pivot level.Ignored
DislikedWhen you say the price above the PP level for bullsih or below the PP level for bearish -- What price are you talking about? the CURRENT price of the market at whatever time you are looking at it? Or the price that the candlestick opens at? That's what I don't get.Ignored
DislikedOkay. So suppose you start at 6:45 EST (15m candle - open 1.9817)
Daily PP - 1.9847
4h PP - 1.9814
Hourly PP - 1.9797
Would you conisder this bearish since its below the Daily Pivot? Or would you just not trade this until the Price was either below or above all the pivot points for a stronger sense of trend?Ignored
DislikedAnother thing - When you are talking about scaling and taking profits every 20 pips....
Say the range from R1 to R3 is 40 pips. Lets use R1 = 1.9800 R2 = 1.9820 R3 = 1.9840.
Do you:
a) buy 2 lots when you enter the market at 1.9800? Then close 1 lot at 1.9820 (20 pip profit) then close the 2nd lot at 1.9840 (40 pip profit)?
b) buy 1 lot at 1.9800 and close it out at 1.9820 then buy another lot at 1.9820 and set your SL at 1.9800 and take profit at 1.9840?
If it is (b) then how do you know the market will keep going up? You just keep going til it stops you out?Ignored
DislikedIn this case,
If you look at hourly...
You could enter buy at R1 - 1.9817 and take profit at 1.9853
The price tested at R1 than retrace at 1.9810.
This is the good example for short term trade.Ignored
DislikedLook at the PP level attach than you understand.
Enter at R1 and close at R3.Ignored
DislikedGo to this link to get the Pivot Point summary;
http://www.actionforex.com/forex_ana..._200603215756/
This link refresh every hour. So just follow-up hourly.Ignored