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  • #59,821
  • Jan 28, 2009 1:48pm Jan 28, 2009 1:48pm
Quoting got pips?
TIP FROM EXPERIENCE...

Always use your pivots...dont enter in between them.
i closed my pivot trading style. it wasnt working well for me for a couple of days. and with the drama given to me by Forex.com, ticked my emotions... therefore i was trading the trend.
  • #59,822
  • Jan 28, 2009 1:48pm Jan 28, 2009 1:48pm
Nice and flat now. Time to go to lunch.
  • #59,823
  • Jan 28, 2009 1:52pm Jan 28, 2009 1:52pm
What a great moving down! I took 69 pips
Now i can go sleep.Good night Europe,good morning Oceania and have a good evening American countries
All i need is just to be here and now.
  • #59,824
  • Jan 28, 2009 1:53pm Jan 28, 2009 1:53pm
Quoting PipPipPip
i closed my pivot trading style. it wasnt working well for me for a couple of days. and with the drama given to me by Forex.com, ticked my emotions... therefore i was trading the trend.
i have been trading for a very long time now. pivot points dont alwas work, but must of the time they do...agree?

dont give up.
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #59,825
  • Jan 28, 2009 1:59pm Jan 28, 2009 1:59pm
Quoting got pips?
i have been trading for a very long time now. pivot points dont alwas work, but must of the time they do...agree?

dont give up.
yep, but when it works, it works great. when it goes against you, its not so great. thanks for your thought mate. i feel like just sidelining for the rest of the day....
  • #59,826
  • Jan 28, 2009 2:01pm Jan 28, 2009 2:01pm
Quoting got pips?
i have been trading for a very long time now. pivot points dont alwas work, but must of the time they do...agree?

dont give up.
Ditto! i dont take them lightly. From daily to Monthly
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #59,827
  • Jan 28, 2009 2:01pm Jan 28, 2009 2:01pm
Quoting got pips?
i have been trading for a very long time now. pivot points dont alwas work, but must of the time they do...agree?

dont give up.
What are your pivots at this point and what you use to determine?

Im looking at 1.3035 below as last line of resistance on move up.
  • #59,828
  • Jan 28, 2009 2:01pm Jan 28, 2009 2:01pm
got pips or others, what do you think about S1 for today? i want to think it will bounce, but have a gut feeling it will be tricky and shoot straight through? no other strong fundamentals in play any more IMHO.
  • #59,829
  • Jan 28, 2009 2:03pm Jan 28, 2009 2:03pm
yawn!!!!!

good nap.

[FED COMMUNICATION AND THE FOMC TEXT] The shift from setting the funds and discount rate to engaging in a range of asset purchase and credit provision programs has presented the Fed with a communication problem. The solution on the day of FOMC policy announcements, starting on December 16, is to provide an FOMC statement that goes into detail about the programs. Today, that has meant a good bit of text on MBS and agency purchase and the Term Asset-Backed Securities Loan Facility to affirm what is already underway. The change in the newly-lengthy policy description is to report a shift from evaluating the possibility of purchasing long-dated Treasury securities to standing ready to make such purchases. Today's statement finishes up recognizing the need to monitor the Fed's balance sheet, a nod to concerns voiced by Lacker and Plosser.
those who can, do. those who cant, talk about those who can
  • #59,830
  • Jan 28, 2009 2:04pm Jan 28, 2009 2:04pm
current PA has taken on the form of a double bottom or W on the 1min chart (very fast moving market at this time)...the tips of the heads is at 1.3105 and the neckline is at 1.3145 which if broken a return to 1.3200 is almost certain. I do not plan to buy this potential bull retracement as it could develop into a bear flag as well, instead i am looking to short when 1.3200 is reached again if that area proves as strong resistance now...if we even reach that level. If we dont reach that level...no more trades for me until at least asian session. Good pippin all
Different opinions highly valued, ignorant to slander.
  • #59,831
  • Jan 28, 2009 2:04pm Jan 28, 2009 2:04pm
Quoting PipPipPip
got pips or others, what do you think about S1 for today? i want to think it will bounce, but have a gut feeling it will be tricky and shoot straight through? no other strong fundamentals in play any more IMHO.

i would say to chill for now... we have another 3 hours for the new pivots....let the market calm down a little bit...and they start fresh next session.

is what im doing.
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #59,832
  • Edited 2:16pm Jan 28, 2009 2:04pm | Edited 2:16pm
Quoting PipPipPip
got pips or others, what do you think about S1 for today? i want to think it will bounce, but have a gut feeling it will be tricky and shoot straight through? no other strong fundamentals in play any more IMHO.
seems like a good time to look elsewhere for profit. I like to keep an eye on it, but stay out of the trade. Eventually I will see something that seems like a solid entry. I have traded so much today using my "systems" and I find myself flat with just a bunch of time wasted.

EDIT: Perhaps I did not follow my rules strictly enough:
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  • #59,833
  • Jan 28, 2009 2:05pm Jan 28, 2009 2:05pm
I don't think pivots go fight you, other traders did. Pivots work great on normal days. Today is not normal day. It is a news day. Plus, we all know that we should never trade with just 1 indicator. For me, I would only enter a trade if I have a confirmation of at least 3 indicators/factors and pivot points is one of them.


Quoting PipPipPip
yep, but when it works, it works great. when it goes against you, its not so great. thanks for your thought mate. i feel like just sidelining for the rest of the day....
  • #59,834
  • Jan 28, 2009 2:12pm Jan 28, 2009 2:12pm
The battle at 13100 is almost upon us. Good place for a rest.
  • #59,835
  • Jan 28, 2009 2:13pm Jan 28, 2009 2:13pm
Let the freefall begin, kiwi to lead the way!
  • #59,836
  • Jan 28, 2009 2:15pm Jan 28, 2009 2:15pm
Quoting SeaPip
I don't think pivots go fight you, other traders did. Pivots work great on normal days. Today is not normal day. It is a news day. Plus, we all know that we should never trade with just 1 indicator. For me, I would only enter a trade if I have a confirmation of at least 3 indicators/factors and pivot points is one of them.
correct, i use a very simple system. it consist of 6 MAs, Stoch, and pivot points...

any trader will tell you that the hard part of any system is following the rules that goes with it....there is where newbies fail...hell, thats where i use to fail myself when i started trading back in 2001...

but persistance and lots of blown accounts.....have paid off....
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #59,837
  • Jan 28, 2009 2:15pm Jan 28, 2009 2:15pm
kiwi dropped alot after fomc and howmuch more can it drop after rbnz?want to go short on nzd like eur now.
  • #59,838
  • Jan 28, 2009 2:17pm Jan 28, 2009 2:17pm
i think its worth noting that the stimulus plan vote is later on today (either 3 hours or 6 hours from now) which may also influence eur/usd during asian session. Consolidation at current price values is a good possibility until that time
Different opinions highly valued, ignorant to slander.
  • #59,839
  • Jan 28, 2009 2:24pm Jan 28, 2009 2:24pm
Agree. Infact I would wait to see if it will break 1.3073 before entering another short. If it does, 1.2905 is my next target. But I believe we will see it retrace up close to 1.3200/3220 before continue falling.



Quoting SmoothTrader
The battle at 13100 is almost upon us. Good place for a rest.
  • #59,840
  • Jan 28, 2009 2:29pm Jan 28, 2009 2:29pm
Hello every body. This is my frst time at the forums. What actually made me write this was that 180+ pis avalanche .
As a beginer( im dmo trading for 2 months now) it surprised me . So in order to increase my understanding of the market,could someone explain why did it happen?
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