DislikedHello mate.
I've attached the pivot indicator below. I've tried various ones but I always come back to this one. It's fully customisable, and changes automatically at 00.00hrs. Have a play around with it and see what you think.
CheersIgnored
- #2,042
- Aug 28, 2007 10:27am Aug 28, 2007 10:27am
- | Joined Feb 2007 | Status: Trader | 2,749 Posts
hi
look at thease two charts,u see ,usdchf is in down trend and eurusd(i didnt post that chart as u know they ususally go against each other) is in up trend BUT eurchf going down it means usdchf downtrend is more powerfull than eurusd uptrend.
as a result i prefer to sell usdchf than buy eurusd
i think this is a very uesefull to see cross charts when we want take a position.
any idea?
I am not familiar with that pair and I don't have the chart. But just looking at your chart - great. Just be careful for a double bottom. I would like to see the second bottom a few pips lower than the first bottom.
If they are on the same level - ?possible support being found?
Willem
Forex recipe for success = Patience, discipline & hard work.
- #2,043
- Aug 28, 2007 10:38am Aug 28, 2007 10:38am
- | Joined Feb 2007 | Status: Trader | 2,749 Posts
I was watching this one this morning as the price sort of trundled along just above the S1 line, with varying sizes and varieties of candles. It was the two dojis that alerted me to the possibility of a trade, so I watched and waited. Both the doji and the following candle found resistance at 21ema, so I prepared to pull the trigger, but the next candle found me hesitating, as it turned into a upward move. As you can see at the red tick, I finally got in at 1.2010, and I'd settled on that because of the double resistance provided by 21ema and my "little trend line". (All credit to Golfer for that one!) I know that the SMAAngle 21ema wasn't QUITE over the 0.1 line, but I nevertheless decided to risk it, although with the price being roughly half-way between S1 and M2, I really wasn't confident of much of a profit. As it turned out, my exit at 1.998 provided 8 pips to the bank after spread, but look at what happened after that! As I type this, the price is currently residing on my S2 line at 1.1978, and I'm wondering why I bothered!Oh well, 8 pips is 8 pips, so it's best to think positively and look out for the next one.
Great trade. Sometimes I'll take the odds on if the 21MA is about to leave the non-trade zone. That was a beauty - almost a smooth round pull back.
Willem
Forex recipe for success = Patience, discipline & hard work.
- #2,044
- Aug 28, 2007 10:46am Aug 28, 2007 10:46am
- | Joined Feb 2007 | Status: Trader | 2,749 Posts
Willem
Forex recipe for success = Patience, discipline & hard work.
- #2,045
- Aug 28, 2007 10:56am Aug 28, 2007 10:56am
thank you for posting such valuable system 
such a big thread with a lot of experience in it..if only i could download the entire sections..
learning is the best way to survive..
such a big thread with a lot of experience in it..if only i could download the entire sections..
learning is the best way to survive..
-1128 Pips since 6 August 2007
- #2,046
- Aug 28, 2007 2:27pm Aug 28, 2007 2:27pm
- | Joined Aug 2007 | Status: Trader | 1,196 Posts
Check Mate GAME OVER
- #2,047
- Aug 28, 2007 2:32pm Aug 28, 2007 2:32pm
- | Joined Aug 2007 | Status: Trader | 1,196 Posts
Check Mate GAME OVER
- #2,048
- Aug 28, 2007 5:53pm Aug 28, 2007 5:53pm
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Lots of great trades today, I took 4 had 4 winners. Made up for yesterday 
Keep taking CT trades, I need more money
- #2,051
- Aug 29, 2007 4:57am Aug 29, 2007 4:57am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
- #2,053
- Aug 29, 2007 5:25am Aug 29, 2007 5:25am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Go Man City go!!!
You and me's just fell out.
- #2,055
- Aug 29, 2007 6:37am Aug 29, 2007 6:37am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
- #2,057
- Aug 29, 2007 7:23am Aug 29, 2007 7:23am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
As you can see on the chart, it's half an hour or more after the previous example. Too many breaches of the 21ema, a very narrow range between 10ema and the 21ema, too much resistance given by the 10ema. By this time, it's been ditched and forgotten, but look what's happening now! It's suddenly decided to show us who's boss and thrown all our rules back in our faces! Go figure, as our American friends say. However, if you're unhappy with the developing set-up, for whatever reason, then leave it alone. Yes, you'll leave a lot of pips behind sometimes, but there's a lot to be said for peace of mind and the feeling that you did the right thing and followed the rules. Sometimes you can bend the rules a little, but bend them too much, and you're just asking for some needless aggro! 
- #2,058
- Aug 29, 2007 7:27am Aug 29, 2007 7:27am
- Trader#0000
- | Status: Unregistered Trader
...However, if you're unhappy with the developing set-up, for whatever reason, then leave it alone. Yes, you'll leave a lot of pips behind sometimes, but there's a lot to be said for peace of mind and the feeling that you did the right thing and followed the rules. Sometimes you can bend the rules a little, but bend them too much, and you're just asking for some needless aggro!
Here is hoping that I have lesson!
- #2,059
- Aug 29, 2007 7:32am Aug 29, 2007 7:32am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
As you can see from my previous post, I didn't want anything to do with it!
But, hey, thanks for your post and basically confirming what I was drivelling on about! Much appreciated.
Cheers
But, hey, thanks for your post and basically confirming what I was drivelling on about! Much appreciated.
Cheers
- #2,060
- Aug 29, 2007 10:30am Aug 29, 2007 10:30am
- | Joined Apr 2007 | Status: Trader | 1,126 Posts
It's a possible, but I'm not keen as it's just too near the Pivot Point.
change ur pivot indicator setting to gmt time ,i think its nesecary to all of us.
gmt pivot is at 1.3610 today