Trading Price Pivots

Gracias amigo. So you usually use the daily to set your SL, using the last extreme of price i.e. last swing low / high, rather than looking on the 30min for the last swing low / high?

GBPCAD - did you take the trade on the 15th Sept, or do you wait for a signal only when price is at the outer TMA band?

I have been busy sorry

gbp-cad ....d1-m30.... I bought on 20 septiempbre

15 de septiembre?????????????????? noooo....

you have to wait for the setup ... you read the first post of chantalb again.

buy ....20 sep

Ok, interesting. Why was 15 Sept not a buy then please? I see an yellow arrow on the daily, then on the 30 min price was above the 100MA with TMA heading up.

Why was this different to the 20th? This will maybe explain how you filter out trades....

hi friend

see here there is one thing you do not have clear

1. figure of the first post ... d1 waiting to be formed
2. once you've seen the figure in d1 ... go to m30

see the dates of the entries and watch the candles on d1

Aha, ahora está claro!! I had thought you didn't use the fractals for a signal on the D1 as with Chantal's method, instead you looked for the yellow x to appear as part of the TMA indicator, and then entered the following day after one appeared.

Now I understand that you don't use the yellow x I can see why, or why not, you enter.

How long have you been trading this system using TMA? It certainly looks very powerful....

I notice that you are still in an AUDCAD short trade from the 9th Sept - what stopped you reversing this trade on either the 16th Sept or 21st Sept as there appeared to be long signals on these dates?

not easy to explain ... I look at the candles in or out w1..
So I decided to wait to get out


will put a picture ... to see if you understand

if you've never read a pdf of candles, I advise you to do

GBPJPY analysis. Submitted to be graded by instructor!

Monthly: Strong bearish trend through last 5 months.

Weekly: Strong bearish, although there is a lower wick to end last week. Broke All Time Low or 118.78, and CLOSED BELOW.

Daily: Last Wednesday 9/21 broke ATL, then retraced for a few hours to 34 pips above ATL, where it formed a perfect PP and then continued south (would have been a great H1 setup). Thursday continued bearish, hitting low almost 200 pips below All Time Low. Friday high bounced off ATL WITHIN 4 PIPS AS RESISTANCE!!

Hourly: From NY close Thursday to Friday close, price retraced until 4pm hour when it bounced off ATL as RESISTANCE - this caused the entire Weekly wick. Then FINAL HOUR OF DAY AND WEEK closed 50 pips below ATL line.

Conclusion: Daily and hourly reversals occurred at the very end of the week on all TFs, confluent with very strong ATL line, signalling bearish continuation. Look for first hourly candle of the week to give PP #3, with last hourly candle of Friday as the fractal, and close below the wick. Then enter short with SL at ATL 118.78 +10. Not sure what target TP should be.

The hesitation would be that this would be a Sunday Asian session trade, so there would have to be good bearish momentum, or maybe wait until Monday London session.

Please guys, what do you think? Tell me where I'm wrong, or right.

Well it's just ranging around under 118.78, no direction to start the week. Maybe a hesitation before heading further south, maybe a breakout fake out on weekly TF.

Although the trend is bearish .. This may be preparing a retracment ... And have possibility to enter into purchase

Yes. Look we've had 3 tests of 118.78 All Time Low as Resistance and it failed to break back above it.

Also I discovered 118.78 is EXACTLY the monthly S2 Pivot Point (not PP Price Pivot!). That's not the strongest pivot point, but it adds strength to that line.

I don't mean to distract the thread but I'm just seeing all this to try to gain confidence when the PP forms and the entry signal occurs. Please tell me if I should not post about this.

DO NOT UNDERSTAND ME WELL WHAT YOU MEAN, I DO NOT speak English well ... BUT THAT POINT IN ITS GRAPHIC MARKING A GOOD SERIOUS WHEN ENTRY POINT BREAK

.

after a month I get out of the gbp-usd with 1000 pips. (sell)
maybe tomorrow I'll buy

Very nice trade Porifiro, again you decided to stay in this one instead of reversing at the earlier long signal on the 16th Sept - very well done!!

For the new long trade, wouldn't today have been the entry day as the pivot / fractal / 1-2-3 has already formed?

EURCHF a sell earlier today, also got CCI divergence?

yes...gbp-usd...buy

no... eur-chf.... i don´t like the range in candelas D1