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  • #221
  • Jul 11, 2011 5:49am Jul 11, 2011 5:49am
Hi All

Thanks to RJ for an excellent explanation.

Pivots in my experience PA tends to move towards whichever is nearer at the open.

At Tokyo Open DPP approx 65 pips away and S1 25 pips away. Also given generally EUR bearish sentiment it was likely S1 would get tested first which it did but S1 held. Note Tokyo high 1.4226 which was last major support on Friday rejected early Tokyo session.

PA dipped below S1 and again moved north but Fridays low was rejected pretty decisively at Frankfurt open leading to a clear break of S1.

As RJ states next target is S2 which was eventually reached.

Worth noting that the WeeklyPP S1 is at 1.4117 and along with S2 seems to be holding up the bears at the moment.

Average 60 days Daily Range is 142 and we've already done around 118 today not including the 'gap'

I'd like to post some charts but resolution always seems to come out terribly .. work in progress :o)

Good trading all

V
  • #222
  • Jul 11, 2011 6:00am Jul 11, 2011 6:00am
Hi Rj,
i compliment u for ur trading stlye with pp. Am a consistent user of pp, but wil check it out wid stochs thoug i dont use lagging indicators, but i think a collabo wth pp n pa knowlege wil b gud. Ther is profitability in simplicity in this biz.
  • #223
  • Jul 11, 2011 7:05am Jul 11, 2011 7:05am
There might be bullish divergence developing on H4 chart, depends where we close.
Previous PA indicates that, that might be clue , might be not...


Seb
Attached Image (click to enlarge)
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  • #224
  • Jul 11, 2011 7:25am Jul 11, 2011 7:25am
Im back. I was out, but my pending got hit.

I will show u an example of BUYING into weakness
  • #225
  • Jul 11, 2011 7:37am Jul 11, 2011 7:37am
Quoting T@rantula
Im back. I was out, but my pending got hit.

I will show u an example of BUYING into weakness
Big money usually place orders at round numbers ( 50, 00) and heavy supports.

I mentioned 4115 and showed u a chart. 4115 was an important support now turned into resistance. When 4115 was touched BUY orders were activated automatically. That called BUYING into weakness. The same is SELLING into strength in uptrend.

Its a good strategy for 10-15 quick pips. Thats how the pro's do. Notice almost no retracement after 4115 was hit. If 4115 was HEAVILY bought and defended we would probably see 4280 retest tommorow.

Attached Image (click to enlarge)
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  • #226
  • Jul 11, 2011 7:42am Jul 11, 2011 7:42am
Quoting T@rantula
4115 seems to be a good support. A probable target, may not be today but it looks as if EU goes to test it. A clear break opens way to 3970.

Retest > continuation in play.

4150 needs to be broken

Attachment
On its way to 3970
  • #227
  • Jul 11, 2011 7:43am Jul 11, 2011 7:43am
Quoting realjumper
Ok....Today was not the easiest of days to trade using this method for two reasons...1, it's Monday......2, the PA opened midway between DP and S1, and it was quite a distance to either of those. It's still very trade-able, but it's not a great way to begin learning this system.

Look at the chart.

1. With hindsight, this would have been a good entry, especially when we see the stochastic so high. However, that was quite a weekend 'gap' we can see so I was content to wait and see what happens.

2. PA tested S1....hmmmm....interesting...it...
This sort of quality is expected on this thread. Good job RJ!
  • #228
  • Jul 11, 2011 7:45am Jul 11, 2011 7:45am
Quoting Flynchenberg
There might be bullish divergence developing on H4 chart, depends where we close.
Previous PA indicates that, that might be clue , might be not...


Seb
Hey Seb, Camarilla with Fibs right?
  • #229
  • Jul 11, 2011 7:59am Jul 11, 2011 7:59am
Quoting T@rantula
Hey Seb, Camarilla with Fibs right?
Spot on mate.

Seb
  • #230
  • Jul 11, 2011 8:00am Jul 11, 2011 8:00am
Quoting Flynchenberg
Spot on mate.

Seb
  • #231
  • Jul 11, 2011 8:05am Jul 11, 2011 8:05am
Quoting T@rantula
shorted EURCHF 1905 s/l 1943

1.EURCHF in downtrend
2.RSI bearish
3.Negative reversal

Attachment
1692 was low...just look at fantastic movment signalled by RSI reversal trade.
  • #232
  • Jul 11, 2011 9:13am Jul 11, 2011 9:13am
Hi T,

Thanks for starting this forum and best of luck with it. I'm fairly new to trading and have settled on using pivot points as my main tool but need to learn about incorporating another indicator (such as RSI) to improve my edge. Given the quality of postings from you and other traders, looks like I've hit upon the right place.

Again, good luck and thanks to the other experienced traders for passing on their knowledge.
  • #233
  • Jul 11, 2011 9:46am Jul 11, 2011 9:46am
Again, just a reminder: enter on retrace.

Last trade for the day, targeting 3995 3970

Attached Image (click to enlarge)
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  • #234
  • Jul 11, 2011 9:47am Jul 11, 2011 9:47am
Quoting cesme
Hi T,

Thanks for starting this forum and best of luck with it. I'm fairly new to trading and have settled on using pivot points as my main tool but need to learn about incorporating another indicator (such as RSI) to improve my edge. Given the quality of postings from you and other traders, looks like I've hit upon the right place.

Again, good luck and thanks to the other experienced traders for passing on their knowledge.
Thank you. I will try to maintain the quality of posting. Plain and simple.
  • #235
  • Jul 11, 2011 10:01am Jul 11, 2011 10:01am
Quoting T@rantula
Again, just a reminder: enter on retrace.

Last trade for the day, targeting 3995 3970

Attachment
Done for the day. More then 100 pips in the bag.
  • #236
  • Jul 11, 2011 10:15am Jul 11, 2011 10:15am
Quoting T@rantula
Done for the day. More then 100 pips in the bag.
Over 500 here on EURUSD,
About 550 on EURJPY.
Both are H4 Bearish Gartley 222 short trade.
FA has helped a lot as well.
LOL
I'm wondering if that 4h developing bullish divergence will eventually appear.

flat now.


Seb
Attached Image(s) (click to enlarge)
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  • #237
  • Jul 11, 2011 7:25pm Jul 11, 2011 7:25pm
Once again we have opened a long way (some 50 pips) from DP and S1 (some 80 pips), all due to yesterdays massive drop. So it won't be easy to trade this system today again, what a pity.

Never mind, as we can see, the opening has the stochastic nearing the oversold line, so I don't want to enter here. We may get a test of the DP, but remember that the PA doesn't have go all the way up and actually touch DP for it to be a valid test. Let the stochastic be your guide.

If I enter a trade, I will try and post a chart at that time to explain my reasons.

RJ
Attached Image (click to enlarge)
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #238
  • Jul 12, 2011 12:47am Jul 12, 2011 12:47am
Nothing going on so far today for the Pivot system. Even though there has been some great moves, especially for the Asian session, none of the moves that I monitor have met my rules of entry.

And here's a good lesson......there is no point sitting around crying about the 80 pips that we didn't grab today. The move, although a big one, did not tick all of the boxes required to enter.....so I didn't enter. There will be plenty of high probability trades to come.....and they are the trades that I'm interested in.

Patience is the key, and I'll wait for the trade to come to me, and it will come. I'm not going to chase it.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #239
  • Jul 12, 2011 1:11am Jul 12, 2011 1:11am
Good morning guys. EU is aiming for 3875 today. Stoploss is 1.4003.

Ill post chart in 3 mins
  • #240
  • Jul 12, 2011 1:23am Jul 12, 2011 1:23am
Quoting T@rantula
Good morning guys. EU is aiming for 3875 today. Stoploss is 1.4003.

Ill post chart in 3 mins
wait guys this is moving too fast.


+30 currently. ill post chart give me a min
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