Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

#152,621
Jul 29, 2009 6:48pm Jul 29, 2009 6:48pm

grashid
| Commercial User | Joined Oct 2008 | 5,712 Posts

Quoting allserene

Disliked

I like to check all time frames out before I pull the trigger - it gives me a sense of balance and perspective

If I am day trading I use the 15 minute and flick into 30 second before clicking, but I am very concious of the hourly and daily trend

I guess the hourly or 3 hourly is the most important but I try to give myself a few pips start by going in close at the last minute

Bit like Cramer who always buys shares on 'limit' rather than 'market' in order to save a couple of cents - most time it has moved against me a few more cents by the time...

Ignored

#152,622
Jul 29, 2009 6:51pm Jul 29, 2009 6:51pm

Lejumeau
| Joined Jan 2009 | Status: Trader | 423 Posts

trap between darma pivot and daily pivot... the one who win will lead the direction..

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#152,623
Jul 29, 2009 6:55pm Jul 29, 2009 6:55pm

w4rrenminded
| Joined Jul 2009 | Status: pure amateur in this business .. !! | 74 Posts

am on short post for just 20 clicks now..

anyway i've prepared my pending order just bout 3 hours ago, here they r..

Sell Stop at 1.635x SL/TP 40/50
Buy Stop at 1.642x SL/TP 40/50
(running price 1.6390)

wish me luck ( like yesterday..

)

(^_^)

spirit 0f pipping

#152,624
Jul 29, 2009 7:03pm Jul 29, 2009 7:03pm

Sunny66
| Additional Username | Joined Jul 2009 | 154 Posts

Quoting Lejumeau

Disliked

trap between darma pivot and daily pivot... the one who win will lead the direction..

Ignored

Hi Le Jumeau
What is the difference between Darnma and regaular daily pivot?
Thanks

#152,625
Jul 29, 2009 7:22pm Jul 29, 2009 7:22pm

Lejumeau
| Joined Jan 2009 | Status: Trader | 423 Posts

Quoting Sunny66

Disliked

Hi Le Jumeau
What is the difference between Darnma and regaular daily pivot?
Thanks

Ignored

I dont know what is the calculation for the Darma, but it act as more of an immediate direction guide, if you look at it you see that the Darma appear very close to the last ranging price of the day. I would say it is more like a fast short direction for the next hour.

Like today price was just below the Darma so we go short to the next resistance wich was the daily low and the daily pivot support 1. In this case the daily low was strong enough for price to reverse. then if it break the Darma on is way up you loop for long to the next resistance wich in this case is the Daily pivot . now price is trap between.

IT is just another pivot that give you a direction rigth on the close of the day (eastern time 5pm)

hope it help a bit

Look at the chart and see how it react it become a support or a resistance during the session. and see how you can use this with the daily pivot. The Daily Pivot is alone so powerfull it is so obvious that price react everytime at these level see ading the Darma pivot is just ading another guideline for the next day opening.

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#152,626
Jul 29, 2009 7:31pm Jul 29, 2009 7:31pm

Lejumeau
| Joined Jan 2009 | Status: Trader | 423 Posts

White line is the Main Daily Pivot
Purple line is the Daily Pivot first resistance and support
Blue line is the Daily Pivot second resistance and support

See in a ranging market everytime price touch first resistance it is oversold or overbougth especialy second resistance and support. it is a safe place to entry an order agains the direction.
just wait to see if price dont follow up or down when it touch these line and you are good for makind lot of pip.

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#152,627
Jul 29, 2009 7:43pm Jul 29, 2009 7:43pm

Sunny66
| Additional Username | Joined Jul 2009 | 154 Posts

Quoting Lejumeau

Disliked

White line is the Main Daily Pivot
Purple line is the Daily Pivot first resistance and support
Blue line is the Daily Pivot second resistance and support

See in a ranging market everytime price touch first resistance it is oversold or overbougth especialy second resistance and support. it is a safe place to entry an order agains the direction.
just wait to see if price dont follow up or down when it touch these line and you are good for makind lot of pip.

Ignored

Thank you so much, how do you get darma pvt, I have been reading you since a long time but I can't fugure out you way of trading.
I rewally like your type of trading will you teach me?
Sunny

#152,628
Jul 29, 2009 7:48pm Jul 29, 2009 7:48pm

Lejumeau
| Joined Jan 2009 | Status: Trader | 423 Posts

Quoting Sunny66

Disliked

Thank you so much, how do you get darma pvt, I have been reading you since a long time but I can't fugure out you way of trading.
Sunny

Ignored

It is realy simple. I'm going to bed for know I will explain to you next time
or send me your email I will get in touch with you.

Attached File(s)

Darma Pivots.mq4 4 KB | 329 downloads

#152,629
Jul 29, 2009 7:56pm Jul 29, 2009 7:56pm

Gainmoney
| Joined Jan 2009 | Status: Trader | 61 Posts

Quoting Lejumeau

Disliked

White line is the Main Daily Pivot
Purple line is the Daily Pivot first resistance and support
Blue line is the Daily Pivot second resistance and support

See in a ranging market everytime price touch first resistance it is oversold or overbougth especialy second resistance and support. it is a safe place to entry an order agains the direction.
just wait to see if price dont follow up or down when it touch these line and you are good for makind lot of pip.

Ignored

Hi Lejumeau, so basically you are trading when the price hits the pink area(High reversal) or the purple area (Overbought/oversold). Or do you enter before the price hits any of those colours.

Thx

#152,630
Jul 29, 2009 7:57pm Jul 29, 2009 7:57pm

Lejumeau
| Joined Jan 2009 | Status: Trader | 423 Posts

Quoting Sunny66

Disliked

Thank you so much, how do you get darma pvt, I have been reading you since a long time but I can't fugure out you way of trading.
I rewally like your type of trading will you teach me?
Sunny

Ignored

Rigth now I close my long form the previous daily support because price can not break the daily pivot so i'm going back down to these level I mark
first is the low of the previous day wich is the previous support
second is the 1st support daily.

the principle is simple if price dont break a pivot we are going back if it brake we stay in or wait for a rebound and go for the next one just like going up a staircase if you fail to reach the next step you fall back to the previous step. the same when price is going down if it fail to go lower we go back up.

That is the main core of this strategy then you ad up experience of market behavior and comon sense and time of the day etc..

#152,631
Jul 29, 2009 8:04pm Jul 29, 2009 8:04pm

Lejumeau
| Joined Jan 2009 | Status: Trader | 423 Posts

Quoting Gainmoney

Disliked

Hi Lejumeau, so basically you are trading when the price hits the pink area(High reversal) or the purple area (Overbought/oversold). Or do you enter before the price hits any of those colours.

Thx

Ignored

Ok last one before going to bed

when price reach these level I'm on guard for a reversal so I wait to see how price react doest it go true like a knife in a butter or those it struggle to brake this line, did it make a pin par in a higer time frame , so i wait for something to tell me price is exhaust then I go for reverse.

Just like the chart I just post you can see that price is struggling to brake the daily pivot and a pin bar form rigth at the daily pivot and after a red bar so I go short

I'm not saying it will go down for sure but I have good sign to put a short entry and put a stop just above the daily pivot

hope it help you a bit

#152,632
Jul 29, 2009 8:08pm Jul 29, 2009 8:08pm

Lejumeau
| Joined Jan 2009 | Status: Trader | 423 Posts

I dont trade only these level I use the main daily pivot for entry also if price is above daily I look for long entry if price is goind below main daily I look for short entry and set my profit target with the support and resistance level

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#152,633
Jul 29, 2009 8:35pm Jul 29, 2009 8:35pm

calderone
Joined May 2009 | Status: step into liquid | 3,460 Posts

Quoting Lejumeau

Disliked

I dont trade only these level I use the main daily pivot for entry also if price is above daily I look for long entry if price is goind below main daily I look for short entry and set my profit target with the support and resistance level

Ignored

Do us a favor and start a thread. I'd like to learn more.