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Trading Price Pivots

  • #101
  • Jun 17, 2011 5:35am Jun 17, 2011 5:35am
[quote=Chantalb;4700612]Good morning,
[size=3][font=Calibri]Today I want to talk about how we can filter end of week trades. End of week stands for Thursdays and Fridays and sometimes Wednesday..

Clear as water.

I have entered eurcad short, It is going against me at the moment and maybe I know why: prices were very close to the 1.40 level. We see how things will unfold.
IB
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad short weekly.png Size: 20 KB
Click to Enlarge Name: daily.jpg Size: 299 KB
Click to Enlarge Name: hourly.jpg Size: 301 KB
  • #102
  • Edited 6:54am Jun 17, 2011 5:38am | Edited 6:54am
Hi Chantal

Great market studies
Forex
  • #103
  • Jun 17, 2011 5:47am Jun 17, 2011 5:47am
Quoting Chantalb
Ok people, here comes the retrace of the 14-06-2011 EURUSD Pivot high… If price wants to keep heading towards 1.4000 we should CLEARLY be able to see that through price action on our fib levels that stretch from the high on the 14th to the low on the 16th. If EU has found a bottom at 1.4072 we will have to see that on the daily with a bold bullish candle. Remember what I said about RSI in the beginning of this thread? Well it looks like it is going to bounce back down from the 60-65 level in case of down move resumption…
[font=Calibri][size=3]Now...
...support / resistance switch in view now...great to follow your reasoning on this...i took profit at +257 yesterday during the 'exhaustion' with a view to climbing on again short on a clear retrace with confluence of factors and it's picture perfect so far....
Attached Image (click to enlarge)
Click to Enlarge Name: EU170611a.GIF Size: 141 KB
  • #104
  • Jun 17, 2011 6:01am Jun 17, 2011 6:01am
[quote=il brigante;4701561]
Quoting Chantalb
Good morning,
[size=3][font=Calibri]Today I want to talk about how we can filter end of week trades. End of week stands for Thursdays and Fridays and sometimes Wednesday..

Clear as water.

I have entered eurcad short, It is going against me at the moment and maybe I know why: prices were very close to the 1.40 level. We see how things will unfold.
IB
Hi IB
I don’t see anything wrong with your trade except of course that it is going against you now. Price might be retesting 1.4 breakdown at the moment and could come back your way… Had I traded yesterday I would have been in there with you… It is the nature of this business… we just have to accept that.
But if there is one thing I can say is, trading the Asian session is not something I ever do… NEVER EVER… It’s just me, I am not comfortable trading this session. I would have been in there with you at 15GMT instead.
One other thing I want you to do, is once price goes below the confirmation candle (as is the case here) and then retraces, stretch your fib down to the new low as you can see in my chart… makes sense?
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad-ib.gif Size: 35 KB
  • #105
  • Jun 17, 2011 6:10am Jun 17, 2011 6:10am
Quoting Prochartist
Hi
TONY what is the matter with you! This has nothing to do with this thread! Come on man... the strategy is in PLAIN English... Please would you stop now... I asked you very nicely to send your thoughts by mail and that does not imply you sharing them here UNLESS you follow THIS method... Am I making myself clear now?
I WILL REPEAT AGAIN, PLEASE STOP CONFUSING THE READERS!!!
THANK YOU

And you going and editing your posts does not help either cause it has already confused people...
  • #106
  • Jun 17, 2011 6:43am Jun 17, 2011 6:43am
[quote=Chantalb;4701670]
Quoting il brigante

Hi IB
I don’t see anything wrong with your trade except of course that it is going against you now. Price might be retesting 1.4 breakdown at the moment and could come back your way… Had I traded yesterday I would have been in there with you… It is the nature of this business… we just have to accept that.
[font=Calibri][size=3]But if there is one thing I can say is, trading the Asian session is not something I ever do… NEVER EVER… It’s just...
You are reading my mind.
I was questioning just before you send the above comments: the asian session and the extension of the fibo to the new low.

One important reversal pattern that works most of the time for me when it reaches important levels is this: new high, higher high and lower low (all AT CLOSE not high and low) is mostly formed with 3 candles but it can be formed with more than 3 candles, but mostly have to be inside bars.
And maybe it can be confirmed with by CCfp Diff on 1hour TH based not current.

This pattern is forming just now (20 minutes left) on eurcad, at 1.40 level, if it forms I will add one trade placing a sell stop 5 pips below the pattern.

IL Brigante
  • #107
  • Jun 17, 2011 6:44am Jun 17, 2011 6:44am
No worries Chantal, this will be my final reply for your thread ... just i m not good in following rules ... also always i do analyse everything in life based on my view ... which mean i will not fit here ... no hard feelings ... wish you all the best ... will delete all and no more post you will see from my side
Forex
  • #108
  • Jun 17, 2011 6:46am Jun 17, 2011 6:46am
Unless the current candle has a miraculous collapse in the next 15 minutes... I am passing until and if something better comes along...

Chantal
  • #109
  • Jun 17, 2011 6:57am Jun 17, 2011 6:57am
Quoting Prochartist
No worries Chantal, this will be my final reply for your thread ... just i m not good in following rules ... also always i do analyse everything in life based on my view ... which mean i will not fit here ... no hard feelings ... wish you all the best ... will delete all and no more post you will see from my side
Tony grow up... I would really like for you to stay but not under these circumstances. You are not trading this method. You are free not to trade it this way but this thread is about this particular strategy and nothing else. And for your information, this is really how I am trading now... I am not scalping the hourly anymore or the lower TFs. Wanna know why... simply because I am making much much more this way... So if it is safer and makes more why not join in instead of scalp talk... Just my advice...

Take care,
Chantal

PS: If I close all my current trades I will be in the 2000-2500pips... and that is since the 8th of June... So you decide if you wanna keep scalping, it is up to you...
  • #110
  • Jun 17, 2011 7:06am Jun 17, 2011 7:06am
The "Brigante pattern" did not formed on the eurcad, it looked like it was going to....

I can see also short set ups on eurgbp and eurjpy, but looks like the euro is strong across the board at the moment.

Cheers
IB
  • #111
  • Edited 7:53am Jun 17, 2011 7:37am | Edited 7:53am
Hello chantal

If you take a short trade at the close of this hourly bar on EURUSD, is your stop going to be above the high of 14th June daily bar or above the hourly pivot high?
Regards
  • #112
  • Jun 17, 2011 7:47am Jun 17, 2011 7:47am
With the Michi statement due in just over an hour, if i were erring on the side of caution i'd just leave it for the week. It's been a good one, why risk drawing down into the week's profit on a friday!?....BUT, news is often the catalyst for the 'Big Dog' move and if we want to hang onto their coat tails, we need to be able to weather a rough ride, in terms of stop placement.
  • #113
  • Jun 17, 2011 8:06am Jun 17, 2011 8:06am
think it eu-cad down .... note that it's Friday and the market is a little crazy this day
Attached Image (click to enlarge)
Click to Enlarge Name: e-cad..d1-h1...pivot.gif Size: 33 KB
  • #114
  • Edited 10:01am Jun 17, 2011 9:17am | Edited 10:01am
I still don't like the PA.. I especially dont like the long wicks of the previous 3hrs... it is really going to take a bear miracle for me to get into this today... we'll see what this hour brings...

NOTE: I see 1.4332 as last hope for bears... if this breaks convincingly... it is over and I will close my shorts on this pair


*Closed double top, but too ugly for me.... there is always time to re-enter
  • #115
  • Jun 17, 2011 10:17am Jun 17, 2011 10:17am
After some more calculations... it is more like a zone... of 1.4332 & 1.4369... we'll see
Ok that's it for me, I'm out of here... My trailing stops are in place... so whatever happens I'm not worried. Besides PA is just boring the hell out of me...
Good weekend to all of you
  • #116
  • Jun 17, 2011 10:30am Jun 17, 2011 10:30am
Quoting Chantalb
After some more calculations... it is more like a zone... of 1.4332 & 1.4369... we'll see
Ok that's it for me, I'm out of here... My trailing stops are in place... so whatever happens I'm not worried. Besides PA is just boring the hell out of me...
Good weekend to all of you
Agreed, price is now at the 61.8 and SbR confluence, perhaps when the US get back from lunch we will see more action, but like you my weekend's beginning and i'll just be keeping a casual eye open, just in case...good w/e.
  • #117
  • Jun 18, 2011 3:23am Jun 18, 2011 3:23am
I got stopped out on my short eurchf, +77 pips (my first trade)

All The Best
Il Brigante
  • #118
  • Jun 18, 2011 8:52am Jun 18, 2011 8:52am
Bulish engufing bar on the daily, trend down, but a price pivot on big round number 1.20 with a low of 1,1974, may be we can go with the Fib 50% 1,2074 or 61%1,2045 long on monday. Lets see what will happen....
  • #119
  • Jun 18, 2011 1:51pm Jun 18, 2011 1:51pm
Ok guys, I’m terminating this thread. Just cannot handle all the negative energy of being stalked. I have very low tolerance for such disturbances... but it was very nice corresponding with you all... IB, MINKA, and everyone else who genuinely took an interest. Thank you and I hope what I shared here will benefit you somehow...
Be well...
Chantal
  • #120
  • Jun 18, 2011 6:37pm Jun 18, 2011 6:37pm
Quoting Chantalb
Ok guys, I’m terminating this thread. Just cannot handle all the negative energy of being stalked. I have very low tolerance for such disturbances... but it was very nice corresponding with you all... IB, MINKA, and everyone else who genuinely took an interest. Thank you and I hope what I shared here will benefit you somehow...
Be well...
Chantal
Chantalb

What do you mean? What happened? Is there anything I can do? Did you get some abusing comments on your personal email? If that is the case you should non leave, because if do they will win. You know the are many idiots around, just have the strength to ignore them and focus your energy on the ones that make feel happy.

Cheers
Il Brigante

Il Brigante
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