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  • #4,981
  • Sep 10, 2007 5:39pm Sep 10, 2007 5:39pm
the open on the 9th on the daily chart was 113.39
The Chonchy
  • #4,982
  • Sep 10, 2007 5:42pm Sep 10, 2007 5:42pm
ANd using a simple swing method I suppose.. as some naked chart indicators I think we are still in it short approaching daily lows.
  • #4,983
  • Sep 10, 2007 5:43pm Sep 10, 2007 5:43pm
Quoting PolishTrader
I think he uses Accucharts demo with FxSolutions and they open at 15:30 Sunday ET - that is why it is impossible to calculate Weekly Central if your broker opens at 17:00 ET Sunday (like mine)

On page 327 you will find post by Trader_07 who quated Dove's about calculating pivots.However,I have hard time with understanding the part of CLOSING of the week - I guess my English is not good enough

P.S

yeah sorry for that - I ask chonchy to give me the open of Sunday the 2nd.Of course it has to be OPEN of 9th 15:30ET



Lol It´s my problem. Sometimes i spend many time to see the dictionary. I´m reading all and and try to understand. But as i work, the time isn´t so much.
  • #4,984
  • Sep 10, 2007 5:46pm Sep 10, 2007 5:46pm
Quoting Forexpupil
Chonchy

To calculate weekly pivot you must take the value of open of this week and not the open of last week.

A question: How do you obtain that accurate charts? And how do you put on metatrader?

Thank you for answer
My charts are accucharts from fxsolutions, I don't know how to put them on metatrader, maybe fxsol could guide you, I don't have meta trader, yet, haven't make enough money yet.

the open of this week on sunday afternoon a 4.30pm I got you thanks forexpupil, at your services.
The Chonchy
  • #4,985
  • Sep 10, 2007 5:53pm Sep 10, 2007 5:53pm
Quoting freed14
I believe the trend still points downward after that retrace? What do you all think? Possibly approaching 120.75?
Huh? 120.75?
  • #4,986
  • Sep 10, 2007 5:55pm Sep 10, 2007 5:55pm
Quoting PolishTrader
I think he uses Accucharts demo with FxSolutions and they open at 15:30 Sunday ET - that is why it is impossible to calculate Weekly Central if your broker opens at 17:00 ET Sunday (like mine)

On page 327 you will find post by Trader_07 who quated Dove's about calculating pivots.However,I have hard time with understanding the part of CLOSING of the week - I guess my English is not good enough

P.S

yeah sorry for that - I ask chonchy to give me the open of Sunday the 2nd.Of course it has to be OPEN of 9th 15:30ET
the open of 09/09/07 on the daily is 113.39.
and the open of this week at 4.30 is 115.75, like I said with all this numbers I don't have time to trade or I'm to slow, just tell me to go short or long please, ha, ha, ha just kiding.
The Chonchy
  • #4,987
  • Sep 10, 2007 5:57pm Sep 10, 2007 5:57pm
Quoting chonchy
My charts are accucharts from fxsolutions, I don't know how to put them on metatrader, maybe fxsol could guide you, I don't have meta trader, yet, haven't make enough money yet.

the open of this week on sunday afternoon a 4.30pm I got you thanks forexpupil, at your services.

Thanks. So we have this value to calculate weekly pivot.
  • #4,988
  • Edited 6:13pm Sep 10, 2007 6:12pm | Edited 6:13pm
Quoting Forexpupil
Hi all, good night!


I have

R3 - 115,64
R2 - 114,82
R1 - 114,23

PP - 113,41
CP - 113,71 (Open at 17,00 h)

S1 - 112,82
S2 - 112,00
S3 - 111,41

Open 112,86,
High 114,00
Low 112,59
Close 113,54

For weekly PivotI have 114,03 (Open 112,86, High 116,46, Low 112,76, Low 112,87)

Here on weekly there are some diference on open, because my broker opens at 23 h of 09/09.

Chonchy at what time opens your broker? Make the correspondence at 15,30 ET
this is a mess, I got
open 113.05
high 113.78
low 112.59
close 113.70
on the last candle of the daily chart, well not the last candle but the privius right? becouse the last candle is today's right? so the candle we need is sunday's correct?
The Chonchy
  • #4,989
  • Sep 10, 2007 6:14pm Sep 10, 2007 6:14pm
I say this is pair is going to 114 and higher. The NFP put it way over sold.
say something political...what I would eat if I wasn't going to die.
  • #4,990
  • Sep 10, 2007 7:09pm Sep 10, 2007 7:09pm
Just got back from my workout tonight. Sorry I meant 112.75 in my last post. Guess I might be wrong tho if the pair is said to be over sold. guess we will find out. Anyway Chonchy I think that you can work with your pivots just as well as the others. ALso you might want to pay attention to the candle indicators themselves for additional tells. Might be worth it if everyone is getting such different values fo rthe pivots.
  • #4,991
  • Edited Sep 11, 2007 4:05pm Sep 10, 2007 8:00pm | Edited Sep 11, 2007 4:05pm
My strategies for today:

session in Asia: Buy @ 113.67. put TP @ 113.97 (30 pips)
session in UK/Asia, Sell @ 114.10, put TP @ 113.10 (100 pips)

at the moment, overall trend is still correction period. I believe when it hit 114.00, it will go south for the last downturn, which shd touch 112.82. then, it will go upwards.

let's see whether i'm correct or wrong after NY close tonite.

Good luck. i'm off the monitor until London open.
  • #4,992
  • Sep 10, 2007 10:50pm Sep 10, 2007 10:50pm
Working from the pivots calculated earlier, yesterday evening price bounced off the pivot area of 13.42, which was a couple of pips higher than the prior low which stopped exactly on the 50% fiibo of yesterdays range.

Now it has stalled a couple of pips above M3 (113.84) which is also the 78% retrace of yesterdays range and where it failed yesdterday afternoon.

Now we wait to see if The Frankfurters will respect this high and take it back down - or continue the rally to yesterdays high at 114.01 and R1 at 114.26.

Off my 5 min chart, I have lower momentum compared with the previous test of this level, but I´ll wait for a clearer signal.
Trading Levels with WRBs
  • #4,993
  • Sep 11, 2007 12:14am Sep 11, 2007 12:14am
Quoting Islander
Now it has stalled a couple of pips above M3 (113.84) which is also the 78% retrace of yesterdays range and where it failed yesdterday afternoon.
Indeed, it's been obeying the pivots to a T this evening. Fell straight to the daily from the 17:00 open, then a rally to the midpoint, several unsuccessful tests, then fell back to the daily from whence it came, only to find buyers yet again.
Attached Image
  • #4,994
  • Sep 11, 2007 12:19am Sep 11, 2007 12:19am
Quoting Trader KGB
Indeed, it's been obeying the pivots to a T this evening. Fell straight to the daily from the 17:00 open, then a rally to the midpoint, several unsuccessful tests, then fell back to the daily from whence it came, only to find buyers yet again.
Yep and GJ´s just done the same, instead of closing my short at M2 for + 80, I got stopped out for +40....guess I´m a bit slow this morning!....but I´m still short UJ
Trading Levels with WRBs
  • #4,995
  • Sep 11, 2007 5:06am Sep 11, 2007 5:06am
I am anticipating a break at 11410 area but it is slow in coming
  • #4,996
  • Sep 11, 2007 7:41am Sep 11, 2007 7:41am
hey guys please tell me if i am right. When any candle hits the daily pivot and the next candle closes above the pivot go long? and the oppositte for going short?
Regards,
Bksujal
  • #4,997
  • Sep 11, 2007 8:01am Sep 11, 2007 8:01am
Quoting bksujal
hey guys please tell me if i am right. When any candle hits the daily pivot and the next candle closes above the pivot go long? and the oppositte for going short?
Regards,
Bksujal
Hey Bksujal,

Unfortunately it isn't so easy.I'm aware that in numerous books and sites you my find such claims but the truth is that Market is far more complex than this.

Pivots points are great tools but you have to use them with some other indicators.As I once wrote there are many possibilities like for example spotting divergence while price approach pivot point.In that case you have right to think that the turnaround is about to happen (I mean it MIGHT happen but don't HAVE TO)

Then you also have Moving Averages and Overbought/Oversold indicators.

hope this helps a little bit
  • #4,998
  • Sep 11, 2007 10:26am Sep 11, 2007 10:26am
Hey guys I need some advice, do you guys think this pair will go downwards. I just placed a short position at 114.20 w/ SL 114.70 and PT at 113.50, the ratio is kind of off, but I am willing to take the risk. Do you guys think this is a good trade due to retrecement from the previous drop.

Thanks
"Don't work for your money, but let money work for you."
  • #4,999
  • Sep 11, 2007 12:34pm Sep 11, 2007 12:34pm
It's going south again ( been right 3x now). What you see now is a retrace :-D
  • #5,000
  • Sep 11, 2007 12:57pm Sep 11, 2007 12:57pm
Hmm I believe the Trade Balance for Japan is comming out today at 7:50EST. I am still not to sure about this, because forex factry does not have it on their calender.
"Don't work for your money, but let money work for you."
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