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Trading Price Pivots

  • #261
  • Jun 27, 2011 2:40am Jun 27, 2011 2:40am
gbp-nzd ... aus-cad....gbp-cad........d1-h1

I'm waiting the retracment to enter in buy
  • #262
  • Jun 27, 2011 3:15am Jun 27, 2011 3:15am
eur-cad - d1-h1....wait retracment also
  • #263
  • Jun 27, 2011 3:53am Jun 27, 2011 3:53am
aus.cad ...d1-h1... buy
Attached Image (click to enlarge)
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  • #264
  • Jun 27, 2011 3:57am Jun 27, 2011 3:57am
Quoting porfirio
aus.cad ...d1-h1... buy
Very clear.

Were did you place your SL and how many pips you are risking?

Cheers
IB
  • #265
  • Jun 27, 2011 4:14am Jun 27, 2011 4:14am
HI IB

is something I have to study this week

according to the SL CHANTALB placed 10 pips would go below the low of the day 23 (1.0223), but it seems to me too ...

Where would YOU THE SL?
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  • #266
  • Jun 27, 2011 4:17am Jun 27, 2011 4:17am
Porfirio

Do it like this:

gbpjpy long, in @ 128.91, SL 128.17, R 74 pips.

Reasons: Daily candle: inside bar. / 4 H candle: various indecision candles./
1 hour Time frame: prices reached 127 BC and broke DTL.

Doing this way is not only good for other traders, but most importantly is good for you because help you to be disciplined in an environment where to be disciplined is very difficult for various reasons.

Also keep a file for yourself, so you can go back when you wish.

Discipline and able to listen to the market are the keys. All the rest is only politics. I hope it helps

All The Best
Il Brigante
Attached Image(s) (click to enlarge)
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  • #267
  • Jun 27, 2011 4:35am Jun 27, 2011 4:35am
THANKS...I WILL STUDY
  • #268
  • Jun 27, 2011 4:50am Jun 27, 2011 4:50am
Quoting porfirio
HI IB

is something I have to study this week

according to the SL CHANTALB placed 10 pips would go below the low of the day 23 (1.0223), but it seems to me too ...

Where would YOU THE SL?
To be honest I dont know were to place it, I normally place it 5 pips below the previous swing low (for long). Not the one you enter bur the previous one.

That is why you need to fit the strategy to your own personality.

Placing the way I do it, make sense to me. I am not sure what make sense to you. You need to find out yourself a SL that make sense to you and only you can do that.

Different ways to place a SL has different pro and contro.

Maybe you should place it somewhere where if it goes so much against you, you want to get out of the trade.

Cheers
IB
  • #269
  • Jun 27, 2011 5:19am Jun 27, 2011 5:19am
Since we are Monday and I tend to disregard most Sunday candles as a day candle, there is not much of interest for me to trade. There is one setup based on TH-Friday that I am watching, if it comes through to my liking I will take it. It is still very far from my entry retrace zone (Green)… Below is the chart
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  • #270
  • Jun 27, 2011 5:46am Jun 27, 2011 5:46am
Quoting Chantalb
Since we are Monday and I tend to disregard most Sunday candles as a day candle, there is not much of interest for me to trade. There is one setup based on TH-Friday that I am watching, if it comes through to my liking I will take it. It is still very far from my entry retrace zone (Green)… Below is the chart
Morning Chantal, im slowly understanding the system, but on this chart, what are you looking for to sell, in the green area off pa from fibs, am i in the right ball park here?
  • #271
  • Jun 27, 2011 5:46am Jun 27, 2011 5:46am
Then when the trades go in your directions you post how your trail your SL

gbpnzd: SL moved to1.9798
eurnzd: SL moved to 1.7556

Trading is hard work, it is exciting when you lose money. It is boring when you
make money.

I hope you enjoyed my input and make any use of it.

IB
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  • #272
  • Jun 27, 2011 5:49am Jun 27, 2011 5:49am
Quoting deankenny21
Morning Chantal, im slowly understanding the system, but on this chart, what are you looking for to sell, in the green area off pa from fibs, am i in the right ball park here?
Yes you are
  • #273
  • Jun 27, 2011 5:49am Jun 27, 2011 5:49am
Quoting Chantalb
Yes you are
i see, excellent, you wouldnt be so kind to post your daily chart of it, to see if im looking at the right things? Cheers
  • #274
  • Jun 27, 2011 5:51am Jun 27, 2011 5:51am
Quoting vicnla
Chantalb, just to appreciate you for all your coaching. this thread is my best so far on FF keep doing the good work.


Quoting retire48
Chantal,
Quoting retire48

Nice thread you have going and may participate someday. Can you tell me where to get the pivot indicator on your daily chart that puts in the carets?

Also I noticed Daily bars vary from broker to broker?? I use Oanda MT4 and the Dailies are different from yours a little to a lot.. Seems to depend on when sessions are started maybe somewhere in MT4? I would imagine it...


Quoting gmcc
Hi Chantalb
Quoting gmcc
Thank for your time and sacrifice required to host his thread. It has been a hugh help to me. I like your teaching style, it is similar to another exellent trader on FF.
I would like to ask for clarification on your post 141. To paraphrase, you indicated you held both longer term Long & Short positions. Did you mean you held both Long & Short on the EU at the same time (hedging)? I know some currency investers who trade long term, do this type of trading.
thanks...


Quoting deankenny21
Hi Chantel,
Quoting deankenny21

first I must say, thanks alot for the clear way you lay out your strategy.
and thanks again for sharing as that what pulls apart people from stars

anyway, i am going to start this system this week beginning market open tonight and onwards, I hope along the way, especially this week while im starting out, you will point potential...


Retire48, those are lines that I draw on the chart by hand. Yes daily bars vary from broker to broker, what you choose depends on your preferences. I am told that GMT is what most floor traders go with, that is why I chose that. But what would I really know… you should pick your own.
GMCC, I trade what I see on the chart. Even if that means I could be both long and short simultaneously on the same pair, but of course trades taken at different intervals and different signals. I don’t hedge, I trade both ways until I either close out or the market takes me out. My last long entries that are out now were taken in May. But I still have longs open that I took in Jan-Feb-Mar and those I will close out once I see price making a weekly close below 1.4
Deankenny21, Yes I will do my best to accurately show everyone how I do things… Glad you will be joining
  • #275
  • Jun 27, 2011 5:54am Jun 27, 2011 5:54am
Quoting deankenny21
i see, excellent, you wouldnt be so kind to post your daily chart of it, to see if im looking at the right things? Cheers
Here
Attached Image (click to enlarge)
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  • #276
  • Jun 27, 2011 5:56am Jun 27, 2011 5:56am
Quoting Chantalb
Here
yes thats what i was seeing, thanks Chantal for your prompt help.

I got a bit eager to try the system as soon as market opened last night,

so i went short eur usd at 1.4161 - i now think i was over eager, so whats would be your advice on that short, shall i take a loss and just say to myself too not be eager again, or continue on with the trade as normal, with sl at previous day high plus 10?
  • #277
  • Jun 27, 2011 6:02am Jun 27, 2011 6:02am
Quoting deankenny21
hi ppl just checking my daily eur usd chart.
i hope im seeing this right, i have circled in a nice brown lol what im understanding so far is a pivot high, with a bearish confirmation candle, would this be a valid entry now for a short off a 1hr chart using the fibs rule. please let me know to see if im understanding correctly.
The valid entry would have been on Friday… today or tomorrow we might be in for another entry based on the same PP but this time including the low made Sunday evening… (Stretching the fib down to the Sunday candle from the same top on Wednesday)
I hope this helps,
Chantal
  • #278
  • Jun 27, 2011 6:06am Jun 27, 2011 6:06am
Quoting Chantalb
The valid entry would have been on Friday… today or tomorrow we might be in for another entry based on the same PP but this time including the low made Sunday evening… (Stretching the fib down to the Sunday candle from the same top on Wednesday)
I hope this helps,
Chantal
I dont have a sunday candle, i have a candle for 22,23,24 then the next candle is todays 27th

But yes otherwise i would have understood. ill see what price does around 4250 then i think before pulling plug.
  • #279
  • Jun 27, 2011 6:27am Jun 27, 2011 6:27am
Quoting Chantalb
The valid entry would have been on Friday… today or tomorrow we might be in for another entry based on the same PP but this time including the low made Sunday evening… (Stretching the fib down to the Sunday candle from the same top on Wednesday)
I hope this helps,
Chantal
Hello Chantal
If I have understood correctly original entry would have been last Friday but a short reentry is possible if a pivot point forms on the hourly chart later today or sometime tomorrow. If the present hourly bar closes down and forms a PP we could have an entry.
Attached Image (click to enlarge)
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Loss of opportunity is preferable to loss of capital
  • #280
  • Jun 27, 2011 6:28am Jun 27, 2011 6:28am
Hi Deankenny

eur-usd last night was oversold in H1 (see the CCI14) ... bad time to go
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