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Simple Candlestick-Pivot Method

  • #41
  • Jan 18, 2008 1:30am Jan 18, 2008 1:30am
nice and simple system. thanks for sharing nomask. i've always been a fan of trading off s/r levels and candlestick formations. here's an indicator that plots daily, weekly and monthly pivots on your charts. got it somewhere in the forum.

Good luck,
Ab
Attached File(s)
File Type: mq4 AutoPivotIndicator.mq4   16 KB | 1,024 downloads
Failure is success if we learn from it. Malcolm Forbes
  • #42
  • Jan 18, 2008 1:38am Jan 18, 2008 1:38am
What do you think of this? Is it good entry and exit??
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  • #43
  • Jan 18, 2008 2:14am Jan 18, 2008 2:14am
Have anybody got this short position?
It is free ride at the moment
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  • #44
  • Jan 18, 2008 2:27am Jan 18, 2008 2:27am
Quoting neshat
Have anybody got this short position?
It is free ride at the moment
yes i was just watching over it..but i'd like to see spinning star (or any other nice reversal candle) in different color from the previous candle and forming around pivot points (at least touching)...although in your chart its around weekly pivot point,didnt take this trade...when this happens i look for second confirmation candle which is happening now..
  • #45
  • Jan 18, 2008 2:35am Jan 18, 2008 2:35am
Quoting nomask
yes i was just watching over it..but i'd like to see spinning star (or any other nice reversal candle) in different color from the previous candle and forming around pivot points (at least touching)...although in your chart its around weekly pivot point,didnt take this trade...when this happens i look for second confirmation candle which is happening now..

Thank you for sharing this nice system and also thanks for your reply.
I saw a doji shooting star candle and also price crossed weekly S1.
wasn't it a good setup?
  • #46
  • Jan 18, 2008 2:43am Jan 18, 2008 2:43am
personally i use daily pivot points (after this thread started looking over weekly pivots but not started trading on it yet)...
but in this example candle color was still in buy and was not around any daily ress or supp lines
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  • #47
  • Jan 18, 2008 3:31am Jan 18, 2008 3:31am
Hello nomask,
I want to say big thank you for sharing your system. Im also in this trade g/j. I ve moved my stop loss to break even. Now in free trade. I also add B.B. to help with resistance level. Dont you think it is best to exit the trade at the nearest pivot point? What other pairs do you trade with this strategy? How long have you been using this system?
I'll greatly appreciate your reply.
Thanks again for sharing!
  • #48
  • Jan 18, 2008 3:35am Jan 18, 2008 3:35am
Quoting neshat
Thank you for sharing this nice system and also thanks for your reply.
I saw a doji shooting star candle and also price crossed weekly S1.
wasn't it a good setup?
thx my friend....here is what i meant on the previous post...you'll see how i took the trade...
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  • #49
  • Jan 18, 2008 3:39am Jan 18, 2008 3:39am
Quoting abiolade
Hello nomask,
I want to say big thank you for sharing your system. Im also in this trade g/j. I ve moved my stop loss to break even. Now in free trade. I also add B.B. to help with resistance level. Dont you think it is best to exit the trade at the nearest pivot point? What other pairs do you trade with this strategy? How long have you been using this system?
I'll greatly appreciate your reply.
Thanks again for sharing!
i always like to use breakeven at first 50 pips and when i reach 125-130 pips always locked profit in +100..final target is any support ress points..like the latest example that i posted my final target is about 208.80 which is daily s1 and also weekly s2..there might be a strong support...
  • #50
  • Jan 18, 2008 3:54am Jan 18, 2008 3:54am
here is the updated screen shot..i locked it in 100 pips since hit +125..
so now i can say january result is 1150 at least...
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  • #51
  • Jan 18, 2008 4:05am Jan 18, 2008 4:05am
i was wondering why price got stuck on 209.50 ish...just realised now,there was a big boy (mothly s3)...anyway nice 100 pips already made..i'll try to keep posting more if another nice setup coming...
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  • #52
  • Jan 18, 2008 4:14am Jan 18, 2008 4:14am
Quoting nomask
i was wondering why price got stuck on 209.50 ish...just realised now,there was a big boy (mothly s3)...anyway nice 100 pips already made..i'll try to keep posting more if another nice setup coming...
nice trade....could u share your weekly and monthly pivot. thanks
  • #53
  • Jan 18, 2008 4:19am Jan 18, 2008 4:19am
Quoting iwanqf
nice trade....could u share your weekly and monthly pivot. thanks
i put it on the first post named Pivot Points...thx to trendchaser for sending that handy indicator..
settings
pivotset=1 (daily)
2 (weekly)
3 (monthly)
Daystarthor=i put it 0 (im working on fxdd metatrader so it works for gmt+2
  • #54
  • Jan 18, 2008 4:41am Jan 18, 2008 4:41am
Hi NoMask
Thanks for sharing ur System,but how has the system done when there is news releases.
Today news was bad for Uk Retail Sales,hence it helped the short trade,but what is ur experience overall when dealing news releases
thank you
baz
  • #55
  • Jan 18, 2008 4:47am Jan 18, 2008 4:47am
Quoting baz
Hi NoMask
Thanks for sharing ur System,but how has the system done when there is news releases.
Today news was bad for Uk Retail Sales,hence it helped the short trade,but what is ur experience overall when dealing news releases
thank you
baz
actually i dont like to trade this system during the news since 50 pips sl would not be enough..But i took the latest trade upon a question in the thread to show the entry...
  • #56
  • Jan 18, 2008 5:08am Jan 18, 2008 5:08am
Thanks for your reply. You have not answered my other questions. What other pairs do u trade with this strategy? and how long have you been using the system?
Thanks man!
You are really wonderful.
  • #57
  • Jan 18, 2008 5:15am Jan 18, 2008 5:15am
Quoting nomask
i put it on the first post named Pivot Points...thx to trendchaser for sending that handy indicator..
settings
pivotset=1 (daily)
2 (weekly)
3 (monthly)
Daystarthor=i put it 0 (im working on fxdd metatrader so it works for gmt+2
thanks
  • #58
  • Jan 18, 2008 5:15am Jan 18, 2008 5:15am
Quoting nomask
i put it on the first post named Pivot Points...thx to trendchaser for sending that handy indicator..
settings
pivotset=1 (daily)
2 (weekly)
3 (monthly)
Daystarthor=i put it 0 (im working on fxdd metatrader so it works for gmt+2
thanks
  • #59
  • Jan 18, 2008 5:22am Jan 18, 2008 5:22am
Quoting abiolade
Thanks for your reply. You have not answered my other questions. What other pairs do u trade with this strategy? and how long have you been using the system?
Thanks man!
You are really wonderful.
i only trade gbpjpy..i believe the best way of trading is focusing only one pair ...i've been using this method as an additional method to breakout system for a month..just luckily i think i picked out the best month to start
  • #60
  • Jan 18, 2008 6:10am Jan 18, 2008 6:10am
Thanks!
I can see that G/J really obey the P.P. Can you pls tell me about your breakout strategy? I ve heard much about it but dont really know how to go about it. Im a newbie. Pls help. Im just building my acct. u can contact thru [email protected]. I will greatly appreciate your help.
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