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  • #7,101
  • Sep 1, 2011 10:43pm Sep 1, 2011 10:43pm
hehehe.... nice drop finally....
  • #7,102
  • Sep 1, 2011 10:44pm Sep 1, 2011 10:44pm
Quoting PayTheLimit
what about the low, do we take it out?
4225 should b good
  • #7,103
  • Sep 1, 2011 10:45pm Sep 1, 2011 10:45pm
Quoting kenfen69
But that's where it gets kind of funny for me...

How would pivots based on Tokyo's session shape London's movement?

I love PP's...love fibs. You can calculate the pivots of the room you're sitting in! Makes more sense to calculate the fibs, but hey...wtf...if you're practicing calculating...go nutz!

I've always just wondered...is there a "Universal" time that players...aka..."bastards"...calculate their pivots from? 5pm EST seems to make the most "sense" to me. But...I lack a lot of that, in a common way, so...whatever.
for me I look at it like this... 5pm NY is the close of the day and the rollover so that is the close I use. You could use session pivots to see what each major money-center is doing. London would look at Asia's trading for sure, but the big moves are shaped in London just because they bring the liquidity and larger transactions are done in this timezone. During Asia it's mostly importers/exporters and CB's which kill volatility for the most part.

Then you get the crossover, opening of derivative markets, the US data, and the options cut at 10am EST, and into the WM/Reuters (london) fix where desks in london have a set price and time they have to trade at... this is where they will consolidate orders and push the market towards the imbalance, then they close up shop and liquidity drops after that (and where you would usually find reversals). Then it's left to NY and algo's and shit... I'm usually gone by that point.

I would think most bastards would use 5pm EST or 00:00GMT for daily pivots. for fibs I would use them on the daily for the most part. I like the 76.4/78.6 fib
  • #7,104
  • Sep 1, 2011 10:46pm Sep 1, 2011 10:46pm
actually i hope this goes to hell...im just glad its moving
  • #7,105
  • Sep 1, 2011 10:49pm Sep 1, 2011 10:49pm
gn bastards. i'm out. nfp tomorrow. skipping london...
  • #7,106
  • Sep 1, 2011 10:49pm Sep 1, 2011 10:49pm
Quoting fxjawn
4225 should b good
yea, yestlow, monthly quarter lip, and a projected 23.6% Fib...I think...
Look Sharp/Trade Tight
  • #7,107
  • Sep 1, 2011 10:51pm Sep 1, 2011 10:51pm
Quoting Monroe
for me I look at it like this... 5pm NY is the close of the day and the rollover so that is the close I use. You could use session pivots to see what each major money-center is doing. London would look at Asia's trading for sure, but the big moves are shaped in London just because they bring the liquidity and larger transactions are done in this timezone. During Asia it's mostly importers/exporters and CB's which kill volatility for the most part.

Then you get the crossover, opening of derivative markets, the US data, and the options cut at 10am...
well summarized...
Look Sharp/Trade Tight
  • #7,108
  • Sep 1, 2011 10:52pm Sep 1, 2011 10:52pm
Quoting PayTheLimit
yea, yestlow, monthly quarter lip, and a projected 23.6% Fib...I think...
i kinda hope it just keeps goin .... not lookin like it though
  • #7,109
  • Sep 1, 2011 10:55pm Sep 1, 2011 10:55pm
Quoting PayTheLimit
well summarized...
lol thanks, tried to be quick about it, the bastards are on the loose...
  • #7,110
  • Sep 1, 2011 10:57pm Sep 1, 2011 10:57pm
Quoting Monroe
lol thanks, tried to be quick about it, the bastards are on the loose...
lol, would have taken me an hour...whatcha seeing early bro?
Look Sharp/Trade Tight
  • #7,111
  • Sep 1, 2011 10:59pm Sep 1, 2011 10:59pm
Quoting PayTheLimit
lol, would have taken me an hour...whatcha seeing early bro?
well I would watch it here, this could be a fake, rumored asians and sovereigns down here protecting the 4200 barrier, stepped in at the lows yesterday (around 4225/30) after they took out the 4250 stops, I would look for shorts up at 4315, or look for more confirmation. Partial to a long here at the moment... trichet on the wires made it easy for them to hit the low stops...
  • #7,112
  • Sep 1, 2011 11:03pm Sep 1, 2011 11:03pm
+70 pips on eur/chf.... lets keep it goin whore...

watchin for the fake here
  • #7,113
  • Sep 1, 2011 11:06pm Sep 1, 2011 11:06pm
Quoting Monroe
well I would watch it here, this could be a fake, I would look for shorts up at 4315

I'm short bidding the lows +/-. ..and my next monthly level of 4179..above the market looking at 4302ish...yesterdays mid/monthly mid combo...and just above there I have 4328/31ish...good luck dude..

ps also my projected 23.6 fib box is 4222/4295
Look Sharp/Trade Tight
  • #7,114
  • Sep 1, 2011 11:13pm Sep 1, 2011 11:13pm
Quoting PayTheLimit
I'm short bidding the lows +/-. ..and my next monthly level of 4179..above the market looking at 4302ish...yesterdays mid/monthly mid combo...and just above there I have 4328/31ish...good luck dude..
nice sounds like a plan... overall I think the euro is screwed, but we'll see what NFP brings tomorrow then ECB press conference on the 8th.

I think the market was caught long on hopes that the FED will bring QE3... any good US data (or just not that bad) will diminish that hope. Now after the weak PMI's, Eurozone is looking weak as far as further rate hikes, might even start pricing in a cut from the last hike.

If it wasn't for the sovereigns and CB's diversifying... Euro would be way lower. What was it doing at 4500... who the hell knows... but it is august and this whole thing is f*cked.

Good luck to you too bro.
  • #7,115
  • Sep 1, 2011 11:14pm Sep 1, 2011 11:14pm
this is stressful like the dickens!!! *gay voice*
  • #7,116
  • Sep 1, 2011 11:15pm Sep 1, 2011 11:15pm
Quoting fxjawn
this is stressful like the dickens!!! *gay voice*
lol what's stressful aren't you up 50+?
  • #7,117
  • Sep 1, 2011 11:16pm Sep 1, 2011 11:16pm
Quoting Monroe
You could use session pivots to see what each major money-center is doing.
Change that to say..."Have done"...and I would agree. Can't be calculated until its done.

Quoting Monroe
I would think most bastards would use 5pm EST or 00:00GMT for daily pivots. for fibs I would use them on the daily for the most part. I like the 76.4/78.6 fib
Agree. 00:00EST throws me for a looper. It would mean Tokyo has to recalculate mid-session...hmmmmmmmmm?
  • #7,118
  • Sep 1, 2011 11:20pm Sep 1, 2011 11:20pm
Quoting fxjawn
this is stressful like the dickens!!! *gay voice*
Attached Image


You got heart, brother...never forget it!
  • #7,119
  • Sep 1, 2011 11:20pm Sep 1, 2011 11:20pm
Quoting Monroe
lol what's stressful aren't you up 50+?
stop talkin to me
  • #7,120
  • Sep 1, 2011 11:20pm Sep 1, 2011 11:20pm
Quoting kenfen69
Change that to say..."Have done"...and I would agree. Can't be calculated until its done.
yes exactly thats what i meant... but it's a flowing process... every 4hours would give you 2 pivots per session.

Quote

Agree. 00:00EST throws me for a looper. It would mean Tokyo has to recalculate mid-session...hmmmmmmmmm?

yea, I wouldn't go that route... stick with 5pm EST or 00:00GMT for daily pivots, that's what most in London use I would assume and whatever most are using is what you would want to see.
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