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Trading Price Pivots

  • #41
  • Jun 15, 2011 11:19am Jun 15, 2011 11:19am
Quoting sax
I must admit, out of all the system threads out there, this is by far the most promising. Thank you for sharing your wisdom, I cannot wait to trial your methods when examination time is over.
Welcome and thank you...
  • #42
  • Jun 15, 2011 11:25am Jun 15, 2011 11:25am
Please if you do want to try this method, demo it for at least 6 months if you are new to trading, and demo again at least for 1-3 months (minimum) if you are an experienced trader. I urge everyone's attention: Trading is VERY DANGEROUS, it can BREAK YOU. Trading is NOT an ATM machine... Nor is it a quick way to make millions… But I can assure you that in trading you can lose A LOT at a blink of an eye… So be very cautious.
Thank you
Chantal
  • #43
  • Jun 15, 2011 12:13pm Jun 15, 2011 12:13pm
just to say thank you for sharing this I will demo this but pls can I beg you for a favour, can you package the first few write up of yours with the diagrams so that some of us can at least have a good system that we can work with.

Thanks for your understanding.

VIC
  • #44
  • Jun 15, 2011 12:43pm Jun 15, 2011 12:43pm
Quoting vicnla
just to say thank you for sharing this I will demo this but pls can I beg you for a favour, can you package the first few write up of yours with the diagrams so that some of us can at least have a good system that we can work with.

Thanks for your understanding.

VIC
You are welcome…
I don’t understand what you exactly mean by for me to “package”… I have literally done my best here to share my knowledge and I believe I have been very clear. There is no 1 2 3 in trading or a “ready package”… it is something you acquire with a lot of time and if I may say YEARS and YEARS and YEARS of looking at the screen for at least 12hrs a day (I mean that). I don’t want to seem harsh on you or on anyone else for that matter, but if you cannot make sense of what I say here, this thread is not for you. It is an advanced thread for those who at least have the knowledge of what I am talking about. I am not MENTORING ANYONE, I am just sharing my knowledge and whoever can make sense of it, good for them! If it is a summary that you want, well this is as concise as I can get. If there is something you don’t understand I will do my best to answer you in depth, as I have others who have asked.
Thank you,
Chantal
  • #45
  • Jun 15, 2011 1:18pm Jun 15, 2011 1:18pm
Quoting Chantalb
Will take a long in a few...
Quoting Chantalb
I just bought EURCHF at the open of the current hour (11GMT) off 38.2% Fib. Even tough I would have liked to see a stronger confirmation candle, this one will do for now...
Who else cought that?

Edit: SL is at 1.19926 some 174 pips... a little too big for my taste, but will stick to my rules...
AUDCAD is barely hanging in there with +7pips.... and EURCHF is down -74pips...
The entry on AUDCAD was as good as I would like to see, however the EURCHF entry was very sloppy on my part YET AGAIN... My stops are in place, let the market decide what it will do with them...

EDIT: I hope no one got in that EURCHF just because I took it. Please bear in mind the first notice I posted earlier...
  • #46
  • Jun 15, 2011 2:09pm Jun 15, 2011 2:09pm
Posible short on USDCHF:
- 38.2% retrace
- pin bar on H1
- confirmation H1 bar ...

http://oi52.tinypic.com/x4f3pz.jpg
  • #47
  • Jun 15, 2011 2:26pm Jun 15, 2011 2:26pm
Quoting e-valtrg
Posible short on USDCHF:
- 38.2% retrace
- pin bar on H1
- confirmation H1 bar ...

http://oi52.tinypic.com/x4f3pz.jpg
I think you have misunderstood my method. The Fib you applied is on 3 weeks worth of data... I don’t trade this way. Tomorrow I would be looking to take a long after a retrace... Please if you want to follow this method, read the thread again...

Thanks
  • #48
  • Jun 15, 2011 6:49pm Jun 15, 2011 6:49pm
Quoting Chantalb
I just bought EURCHF at the open of the current hour (11GMT) off 38.2% Fib. Even tough I would have liked to see a stronger confirmation candle, this one will do for now...
Who else cought that?

Edit: SL is at 1.19926 some 174 pips... a little too big for my taste, but will stick to my rules...
Hi Chantalb

I think you are doing a good job, and as you said this is an advance system and I think it will take a bit of time to grasp.

To be honest I don not understand why you took the long trade on eurchf, I am short (demo) on that based on my analysis of your method.

Cheers
Il Brigante
  • #49
  • Jun 15, 2011 7:28pm Jun 15, 2011 7:28pm
Quoting il brigante
Hi Chantalb

I think you are doing a good job, and as you said this is an advance system and I think it will take a bit of time to grasp.

To be honest I don not understand why you took the long trade on eurchf, I am short (demo) on that based on my analysis of your method.

Cheers
Il Brigante
Interesting thread. I must say I too am a bit puzzled with the long position here. Aren't the ema's indicating a down trend hence you would be looking for short positions.
Anyway will reread the thread
Loss of opportunity is preferable to loss of capital
  • #50
  • Jun 15, 2011 9:24pm Jun 15, 2011 9:24pm
Quoting il brigante
Hi Chantalb

I think you are doing a good job, and as you said this is an advance system and I think it will take a bit of time to grasp.

To be honest I don not understand why you took the long trade on eurchf, I am short (demo) on that based on my analysis of your method.

Cheers
Il Brigante
First two charts refer to 15-06-2011
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurchf 15-06-2011.gif Size: 36 KB
Click to Enlarge Name: eurchf 15-06-2011-long entry.gif Size: 34 KB
  • #51
  • Jun 15, 2011 9:26pm Jun 15, 2011 9:26pm
This is now... But even with this pivot high I would not take a short cause we are too close to 1.20000

I stick with my long... we'll see what happens
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf 16-06-2011.gif Size: 36 KB
  • #52
  • Jun 15, 2011 9:32pm Jun 15, 2011 9:32pm
Quoting Minka
Interesting thread. I must say I too am a bit puzzled with the long position here. Aren't the ema's indicating a down trend hence you would be looking for short positions.
Anyway will reread the thread
Hello,

As I said before I dont trade the emas... This method is called PRICE PIVOTS
Yes please reread it
Thanks

NB: Post #40
  • #53
  • Jun 15, 2011 10:03pm Jun 15, 2011 10:03pm
Quoting Chantalb
First two charts refer to 15-06-2011
Hi Chantalb

This is how I have entered, keep in mind that this was my 1st trade, so is not set up properly yet.

In the below charts find the reason for my entries:
Weekly, daily and hourly.

If you wish your comment are appreciated.

Cheers
IB
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly.jpg Size: 51 KB
Click to Enlarge Name: daily.jpg Size: 58 KB
Click to Enlarge Name: hourly.jpg Size: 62 KB
  • #54
  • Jun 16, 2011 1:33am Jun 16, 2011 1:33am
Quoting Chantalb
Hello,

As I said before I dont trade the emas... This method is called PRICE PIVOTS
Yes please reread it
Thanks

NB: Post #40
Hi Chantal
I am just trying to understand why you went long. Thanks for posting the charts. It looks like an interesting way to trade and I am looking forward to the thread and to trying it out on demo. I can clearly see why you entered from just looking at daily and hourly charts. But from the weekly I would have thought the bias would be to look for a short position. However I can't say I saw any good reason to enter a short either. I do realize you don't trade the ema's but you said you use them so as to not trade against the trend which in this case is down. So I guess what I am asking is if trend is down and weekly bias is down what made you decide this trade was worth taking as a long. Hope that makes sense(I am not being critical)
Loss of opportunity is preferable to loss of capital
  • #55
  • Jun 16, 2011 2:40am Jun 16, 2011 2:40am
This is pullback of the fractals formed the 6/6/11.

I got in because price are below the 200 ema (daily) and also because my entry candle closed below 1.3150 level. Maybe this entry is not that valid because the fractal has happend a while before? I do not know. Any comments?

All the Best
IB
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.jpg Size: 280 KB
  • #56
  • Jun 16, 2011 4:18am Jun 16, 2011 4:18am
Hi Chantal, if only all trades were like this one! 300+ now..stops @ b/e.
Attached Image (click to enlarge)
Click to Enlarge Name: EU160611a.GIF Size: 109 KB
  • #57
  • Jun 16, 2011 4:27am Jun 16, 2011 4:27am
Hey guys…
Ok obviously, we need to go over a few points that I took for granted, thinking you would be able to put the pieces together on your own. Just be patient with me as I am preparing more charts to explain and my analysis will follow.
By the way I came very close to get stopped out this morning… price came into 1.19929 and my stop is at 1.19926 (this is the low of the 13th which I have at 1.20026 and 10pips buffer)…
Looking at the emas and all is very well, but let me ask you this… what is any moving average based on? Actually what is ANY indicator based on??? In your opinion what is more important, following MAs or understanding and thus following a strong pin bar for instance right off a round number aka 1000 number?
Also let us suppose you were trading and your indicator was in highly overbought zone, however PA was saying it wants to keep going up, what will you do? Which one will you follow?? Assuming I am giving you no choice but to enter a trade either long or short…
Please think about the above and I would like to see your answers…
Thank you

NB: Got stpped out...
Also I need you guys to download FXCM MT4 so that we can be on the same page... thanks
  • #58
  • Jun 16, 2011 4:57am Jun 16, 2011 4:57am
[quote=Chantalb;4697297]Hey guys…
Ok obviously, we need to go over a few points that I took for granted, thinking you would be able to put the pieces together on your own. Just be patient with me as I am preparing more charts to explain and my analysis will follow.
Ok obviously, we need to go over a few points that I took for granted, thinking you would be able to put the pieces together on your own. Just be patient with me as I am preparing more charts to explain and my analysis will follow. Thanks
By the way I came very close to get stopped out this morning… price came into 1.19929 and my stop is at 1.19926 (this is the low of the 13th which I have at 1.20026 and 10pips buffer)…
Looking at the emas and all is very well, but let me ask you this… what is any moving average based on? Actually what is ANY indicator based on??? Past actionIn your opinion what is more important, following MAs or understanding and thus following a strong pin bar for instance right off a round number aka 1000 number? The Pin bar and round numbers but in this case I thought the Pin forming the pivot was weak and more a doji and therefore indecision.( I like my Pins to stick out like on 16th march and april 6th) I don’t pay much attention to round numbers but willing to learn
Also let us suppose you were trading and your indicator was in highly overbought zone, however PA was saying it wants to keep going up, what will you do? Go with the PA and go long Which one will you follow?? Assuming I am giving you no choice but to enter a trade either long or short…
Please think about the above and I would like to see your answers…
Thank you

NB: Got stpped out...
Also I need you guys to download FXCM MT4 so that we can be on the same page... thanks Will do
Loss of opportunity is preferable to loss of capital
  • #59
  • Jun 16, 2011 5:37am Jun 16, 2011 5:37am
[quote=Chantalb;4697297]Hey guys…
[font=Calibri][size=3]Ok obviously, we need to go over a few points that I took for granted, thinking ..


1) Pin Bar
2) PA

By the way my eurchf short is floating 200 pips
  • #60
  • Jun 16, 2011 6:04am Jun 16, 2011 6:04am
Quoting Chantalb
You are welcome…
[size=3][font=Calibri] I don’t understand what you exactly mean by for me to “package”… I have literally done my best here to share my knowledge and I believe I have been very clear. There is no 1 2 3 in trading or a “ready package”… it is something you acquire with a lot of time and if I may say YEARS and YEARS and YEARS of looking at the screen for at least 12hrs a day (I mean that). I don’t want to seem harsh on you or on anyone else for that matter, but if you cannot make sense of what I say...
I'm sorry for the incomplete statement. what I meant is if the first write ups and charts can be made to a put in a pdf so that it can just be a manual. also please I wouldn't mind if you can also attached your coloured RSI as I can't bring that out on MT4. I'm here to learn and I thank you for your ability to teach.
VIC
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