Price Action Trading with Indicators! The Freebie System | Page 278 | Forex Factory

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Price Action Trading with Indicators! The Freebie System

  • #5,541
  • Oct 5, 2011 7:24am Oct 5, 2011 7:24am
Quoting hope&glory
i know i am going to sound like a complete newbie but i really really could do with some visual aid on this question if anyone out there is willing to help

what is fail at pivot?

a few examples would really benefit me as everything else has fallen into place of my understanding

thanks

Really? you have been around this thread 6 months and i first started it like 10 months ago......READ THE THREAD and LOOK at THE PICTURES.......

If you READ the THREAD...i told everyone what i look for! in the first like 20 pages some where
  • #5,542
  • Oct 5, 2011 7:25am Oct 5, 2011 7:25am
  • #5,543
  • Oct 5, 2011 8:30am Oct 5, 2011 8:30am
With the beautiful fail at pivot on the EURUSD (there is one on the GBP as well) I'm waiting for the "ISM Non-Manufacturing PMI" announcement in 30min time. The "ADP Non-Farm Employment Change" announcement was very good for the USD, so if the ISM results are also good, I will look for an entry short. And looking to BUY USD in the other pairs as well.
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  • #5,544
  • Oct 5, 2011 9:53am Oct 5, 2011 9:53am
Took this just a few mins ago..up 40 pips already...come on GbpUsd...Daddy needs some stripper money! lmao
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  • #5,545
  • Oct 5, 2011 11:47am Oct 5, 2011 11:47am
Another good day

EU - no sig
UC + 11% + 5%
UJ -5%-5% + 13%
GU -5%

ROC + 14%

Cheers

P
Attached Image(s) (click to enlarge)
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  • #5,546
  • Oct 5, 2011 2:17pm Oct 5, 2011 2:17pm
Quoting Dredding82
Took this just a few mins ago..up 40 pips already...come on GbpUsd...Daddy needs some stripper money! lmao
hi Dredding youre gonna kill me but was the fail at pivot on your trade just below the red dashed line on your chart..?

sorry mate if i'm being dumb just want to get my head around this properly
  • #5,547
  • Oct 5, 2011 6:15pm Oct 5, 2011 6:15pm
Quoting Paulus
Another good day

EU - no sig
UC + 11% + 5%
UJ -5%-5% + 13%
GU -5%

ROC + 14%

Cheers

P
Thanks for the charts Paulus, I'm a bit confused though about the GU -5% trade, it looks like it would have paid well but I might be looking at it wrong?
  • #5,548
  • Oct 5, 2011 6:53pm Oct 5, 2011 6:53pm
Quoting hope&glory
hi Dredding youre gonna kill me but was the fail at pivot on your trade just below the red dashed line on your chart..?

sorry mate if i'm being dumb just want to get my head around this properly
If you can see a pivot just below the red dashed line (his stop loss) you have better eyes than me, I've been straining to see which pivot you mean and can't see one just below, at what price roughly are you looking at?
  • #5,549
  • Oct 6, 2011 12:16am Oct 6, 2011 12:16am
Quoting ohammond
Thanks for the charts Paulus, I'm a bit confused though about the GU -5% trade, it looks like it would have paid well but I might be looking at it wrong?

It didnt hit the next pivot up and it didnt reach a max of 15% gain

It only moved 10%

I either close at next pivot as long as its 5% so I get at least 1;1 RR or if the next pivot is to far off due to large moves the previous day then I cap all trades at 15%

None of the 2 above was reached so it lost 5% on account

No good using sliding stops to capture moves like that,or capping at 10% Iv looked at all those stats and my 2 rules above give max results

cheers

P
  • #5,550
  • Oct 6, 2011 12:55am Oct 6, 2011 12:55am
Quoting hope&glory
hi Dredding youre gonna kill me but was the fail at pivot on your trade just below the red dashed line on your chart..?

sorry mate if i'm being dumb just want to get my head around this properly
That is my SL......The last ZZ high +spreadx2, the fail was at the pivot..it bounced off it several times then broke thru..........FAILED AT PIVOT lol
  • #5,551
  • Oct 6, 2011 1:47am Oct 6, 2011 1:47am
Quoting Paulus
Another good day

EU - no sig
UC + 11% + 5%
UJ -5%-5% + 13%
GU -5%

ROC + 14%

Cheers

P
many thanks for the charts, helps a lot.
  • #5,552
  • Oct 6, 2011 2:14am Oct 6, 2011 2:14am
Hi folks.can anybody tell me in this case of EU H1 chart when you have all green HA colour exept week is red, green last semaphore (predict that there is NOT red semaphore on last candle) and fail at pivot its clean buy signal. Also predict that there is no 16 minute to close of this candle.
Do you react the same way if you see red semaphore on top of current candel?
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  • #5,553
  • Oct 6, 2011 6:58am Oct 6, 2011 6:58am
Anyone catch the move on EUR/USD, GBP/USD pairs following the ECB and BOE rate decision?
  • #5,554
  • Oct 6, 2011 7:27am Oct 6, 2011 7:27am
Quoting mustangzs
Anyone catch the move on EUR/USD, GBP/USD pairs following the ECB and BOE rate decision?

I took these trades around that time...didnt touch gbp or euro though...but still BANKING! lol And the best part like always...they are ALL "Risk Free" trades as of now....so just hoping for them to keep going my way. We shall find out in about 2 mins lol
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  • #5,555
  • Oct 6, 2011 7:39am Oct 6, 2011 7:39am
Quoting Dredding82
I took these trades around that time...didnt touch gbp or euro though...but still BANKING! lol And the best part like always...they are ALL "Risk Free" trades as of now....so just hoping for them to keep going my way. We shall find out in about 2 mins lol
Awesome buddy.
  • #5,556
  • Oct 6, 2011 7:41am Oct 6, 2011 7:41am
only trade for me so far AU -5%

Possible short soon on EU but could well change

Cheers

P
  • #5,557
  • Oct 6, 2011 7:42am Oct 6, 2011 7:42am
Quoting Dredding82
I took these trades around that time...didnt touch gbp or euro though...but still BANKING! lol And the best part like always...they are ALL "Risk Free" trades as of now....so just hoping for them to keep going my way. We shall find out in about 2 mins lol
Mr Dredd, any chance of a look at these charts when you get a sec?
  • #5,558
  • Oct 6, 2011 7:45am Oct 6, 2011 7:45am
I think that EU low range of the day is reached? But I know that you don't look at that Paulus
  • #5,559
  • Oct 6, 2011 8:07am Oct 6, 2011 8:07am
correct

If we did then prices would just bounce up and down in a small range a level has to be broken for another level to be reached



Currently short AU and EU and long UC

P
  • #5,560
  • Oct 6, 2011 9:29am Oct 6, 2011 9:29am
Quoting Dredding82
Take care of your son ....the markets will always be here...its a NFP week anyways so its gonna be UP & Down or DOWN & Up kinda week.

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