EURUSD

price is?

Oh ok...So you can just short at 4pm at the close of teh stock market depending on if it closed up or down (probably not on a live account)

1.3383

That has been the routine for the last week or so, but nothing is automatic.

Yeah right... I don't think there's a right or wrong on the pivot question. It's about what works best, as in what does price respect the strongest. I don't know that I understand your London thing. The pivots are necessarily calc'd in advance, so what HLC data are they using for their session?

Here's what I did. I recalc'd my pivots for this week from Sunday open back on Oct 5, using the 5pm Monday data. The colored zones on chart below indicate the 5 pm Monday (Oct 6) session open when I got my new daily candle. Accucharts allows me to set my begin time for the pivots and also the lookback duration from 1 to 24 hrs. So I could easily generate 1hr to 4hr or 8 hr session pivots with no problem. It also allows me to set any any time I want for the trading session, and so both my pivots and trading day run from 4:00pm CST to 3:59pm CST the next day. That gives me the 5pm EST close.

My basis for all this originally came from a scary good yen trader goes by the username Dove Alliance, from the UJ thread last year. He also taught the use of what he calls the Central Pivot which is simply the Opening price at 5pm EST. That plays an integral part of my pivot strategy, but mostly on yen, EU doesn't seem to care about it quite as much.

Why 5pm? To be honest, I've never been able to find a definitive answer I like. I've heard there was an international agreement or convention to that effect that was reached, but can't prove it.

But... that's when the daily swap is calculated world wide far as I know. It's also when the New Zealand markets open (10am in Auckland is 5pm the previous day in NY) which is the first market to open on any given day. So that all works for me. And like I said at the first... what works is what I look for.

The pivots below are as I stated above and I've extended them thru the week to almost midnite Wed eve (tonite). Becuz price has mostly been in a 300 pip channel except for Friday (shaded ellipse), you can see the degree that price has respected them. That's 10 days of PA and a Weird Friday with Sunday gap included. I've cleared everything else off the chart. It's a 4hr TF to squeeze it all in.

I might try to gin up a chart using your London time for comparison, but I'd still need to know when they're taking their HLC data from as I don't know.

Last minute add: Just as I was about to post this, EU tanked and stopped 7 pips below today's S2 but exactly to the pip on yesterdays S3...!! Given the current mom, I'd not be surprised to see S3 today for Frankenstein or London... Nikkei looks to be on track for closing down over 1000 points... AGAIN!

Not trading tonite tho. Watching and pondering only. Open shorts from earlier this week and last are running wild without any help or interference from me... If I was seeing any longs here, I'd doublecheck to make sure my monitor wasn't upside down.

...define short term you old bottom picker you.

couldn't help it sun, i know you're feelin the luv tho. this market is blowin all my fibs out the window as well. I had to add a 262% extension to one the other day... price hit it and turned on it too, but it was a short term turn.

Todays pivots until 5pm Thursday

http://www.actionforex.com/technical...-200603205734/

This site also calculates pivots from 5pm-5pm EST

True, and I used to use them when I used MT4 charting only. they're fairly accurate but always check for when they ACTUALLY calculated them, sometimes there is a lag, not often but it happens.

I found them to be all but useless for the Sunday open and did mine manually using the HL on Friday and the 5pm Close from Sunday. Sunday pivots have been a major pain lately tho, and I'm shying away from using them now what with the new screwy FXSOL hours and the humungous gaps. Leaning towards fibs only until 5pm Monday.

hi euro room

i sent here from two weeks ago my calls for euro
i forecast the continuation of the bearish trend.
another breakout confirm the down trend in both euro and British pound.
as shown in my charts.


is now obvious that usd strengthen against all the currencies.
is not temporary move it will last for months and may be even years .

that is why we see such very massive falls in euro&cable charts for the last weeks ago.

here in my daily euro chart the yellow line is the down trend and the white lines is retraces and been broken by the price as shown, just to make it obvious how powerful is the bearish trend

and here is my charts .
i forecast a more bearish activity and to translate in numbers lingo i wait for 1000 pip drop.

trade well.

Just found this signature from Dr Geppynius on the auslanco thread... almost fell off my chair...

"I can see dead bulls. Walking around like regular traders. They don't see each other. They only see what they want to see. They don't know they're dead."

That's scary.

yep me too..i can see dead people..

I'm kinda bored and I'm not going to consider this a typical trade but here goes...

I've got a sell limit in at 34.22 right below S1 and a hair above the 89ema targeting a headfake for the London open. It's a smallish order with no SL for the time being. Price currently 3390ish. I wouldn't be too surprised to see it go a tad higher, and I'd be very surprised to see it go alot higher. So, it's either this or call it a day and go to bed...

Think of it as buying a roll of nickels for the one armed bandidos.

going long for 30 from 3364 first tho since it dropped before climbing.
(and I lock in +3 as soon as it moves 10)

final tp moved to 3604 after checking my 3m chart. 80% taken at 94...
add: final tp moved to 3414. deleting my sell limit at 3422 becuz of the drop coming first. that always makes me nervous for shorts when london opens... just me tho, don't get all excited over it. i'm NOT trading any more longs tonite tho, don't care if it goes thru the roof.

TP is at 3414 for 50 and SL moved to 3594 for 30 pips on the 20% remaining, and I'm going to bed. g'nite all.

Crap. Here i was posting, and forgot to delete my limit sell at 3422. Now I'm in a short and would rather not be. oh well... gotta stay up a few more minutes. I'll find out if I'm full of it now or not.

TP hit on the long tho for 50... sweet.

Here we go, boom or bust!

Setting a TP at 3360 which is my lower BB on the 3m and just above S2 support pivot. If you're in this trade, you may want to scale out some at 3390 / S1 pivot and let the rest run for a bit to S2 or wherever.... My SL for this trade is 3448 just above the high of 2hrs ago. Yours should be within your MM, and so should your entry size..

As soon as price gives me +12 or 15 or so, I'll set a +1 pip SL and then maybe 3 once it hits 15 to 20, then I leave it to hit TP or come back to my +3, unless I'm watching it close, then my 1m tells me when to bail.

I guessed you can close the sell limit quite soon. Heading a little down now.

My views for today (before US open) is of a possible inverted H&S on H1 and waves 1 to 5 completed to the downside from 1.3770 to 1.3345.

Next: waves A, B, C to go:
- 1.3500 (neckline) then down to
- 1.3420 (right shoulder) then back up to
- 1.3680 (extension of shoulder to yesterday's high)

Plus bullish divergence in that FX5 Divergence indicator.

Thereafter, if a retest of 1.3550 holds, it would continue to fulfill the bigger H&S neckline at 1.3770 then shoulder extension to 3870, definitely closing completely the 5 october's gap.

Sunday's gap can be seen now as completely closed as well.

1.3480/1.3500 ???
Are you on long bro ?
Thought everybody on short

Nope, it got stopped out for 3 on the retrace, if I was genuinely full on scalping this trade, I'd have taken the 18 on the bounce off the figure. I'm not sure what it's gonna do right now. It's knocking on the upper BB on the 20m at 3440ish and that may stop it for now. EJ is fighting the figure at 135 and also the 5m 200sma along with GY, so it has to get itself sorted out eventually.

If it breaks those levels soon, there could be some good bully pips for the braver than me folks out there.

But that's it for me. Got my surprise 50 on the long, and 3 on the fizzle short. My 2 trades for the day. Both based on boredom. What's that about...

And there they all went north... beware the headfakes. get em if you can, but be careful all. g'nite again and for real.

add: and just for the record, my spidey sense says 3460ish is maybe all she wrote for now anyway. really, be careful.