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  • #580,621
  • Jan 5, 2012 5:08pm Jan 5, 2012 5:08pm
Quoting dove_alliance
That wasn't my question --- I am not talking about Daily Pivots. I asked if you know what "A Central Pivot" is and what it represents.
small help from google

Central Pivot Point (P) = (High + Low + Close) / 3

Read more: http://www.investopedia.com/articles...#ixzz1id0dxiRE


in case your looking for Center pivot irrigation
http://en.wikipedia.org/wiki/Center_pivot_irrigation
Mohan
  • #580,622
  • Jan 5, 2012 5:11pm Jan 5, 2012 5:11pm
I really was hoping to avoid a semantic discussion...The central pivot is determined by some timeframe...I just mentioned daily in comparison to where we stand with price today.

How would you like to calculate the Central Pivot as there are a few ways I know of to do it... the most basic is and average of the last period's H,L,C Prices...the level is utilized as an indicator of current market sentiment and is supposedly correlated to future direction of price...price breaks pivot - breakout occurs one way or the other. Or it is a reference to where Support or Resistance in the past was established and possibly maintained or broken. I understand the theory...I just don't rely on them because raw price action works better for me.
  • #580,623
  • Jan 5, 2012 5:27pm Jan 5, 2012 5:27pm
Quoting troutguy
I really was hoping to avoid a semantic discussion...The central pivot is determined by some timeframe...I just mentioned daily in comparison to where we stand with price today.

How would you like to calculate the Central Pivot as there are a few ways I know of to do it... the most basic is and average of the last period's H,L,C Prices...the level is utilized as an indicator of current market sentiment and is supposedly correlated to future direction of price...price breaks pivot - breakout occurs one way or the other. Or it is a reference to...
Raw price action is always the best. So much so, I have taken everything off my charts, even the Bollinger Bands. It's enough trying to concentrate on the candles I find.
The road to pipland is arduous and fraught with challenge.
  • #580,624
  • Jan 5, 2012 5:27pm Jan 5, 2012 5:27pm
A central pivot is the opening price of a candle - may it be a 1 minute or 1 month candle. And each time price opens on a candle it will generate from the pressure of the last candle and this is where you get your retrace of a candle in a trend when it opens. Generally it is any where between 1 and 6 pips on your lower TF's. But when you get into your upper TF it is a different story.

Once this pressure is completed it then will return to the central pivot and continue on into the trend of that candle.

Now - lets take this weekly and monthly candle we are in which they both opened at the same time.

When they both opened had done so with the pressure up and the market went up to a heavy resistance and topped off at 3077 and return to the Central Pivot and kept on going. On a monthly candle in a trend will generate 500+ plus pips from its central pivot which is the opening.

I grant you - there is the cycle through the month but in each cycle - such as in this case with the trend down - it will generate lower lows after each cycle; or higher highs in an uptrend.

The trend is down and it had moved on from its central pivot with no major support to stop it accept a very weak support at the 2600.

There is more to it but this gives you basics.
The Dove - Forex Trainer
  • #580,625
  • Jan 5, 2012 5:28pm Jan 5, 2012 5:28pm
Good morning all, I slept in, nice.

From yesterday and the day before I am short nzdusd,audusd, nzdjpy and audjpy and long usdcad.

I am about 160 pips in the black at the moment. At the beginning of a new daily candle I will take profit or partial and move my SL.

Also because of the NF release I will not initiate any new trades today.
Beauty awakens the soul to act. Dante Alighieri
  • #580,626
  • Jan 5, 2012 5:31pm Jan 5, 2012 5:31pm
Quoting LaMaschera
Good morning all, I slept in, nice.

From yesterday and the day before I am short nzdusd,audusd, nzdjpy and audjpy and long usdcad.

I am about 160 pips in the black at the moment. At the beginning of a new daily candle I will take profit or partial and move my SL.

Also because of the NF release I will not initiate any new trades today.
Good morning ,

good to wake up with green pips
Mohan
  • #580,627
  • Jan 5, 2012 5:31pm Jan 5, 2012 5:31pm
EU has hit support at 127% fib retracement 1.2765

My TPs at around monthly pivot 1.3100 and R1 1.3350 with SL 1.2750
Attached Image (click to enlarge)
Click to Enlarge Name: EU 2012-01-05 (3).jpg Size: 195 KB
Do not follow my trades. Trade what you see on your own charts.
  • #580,628
  • Jan 5, 2012 5:33pm Jan 5, 2012 5:33pm
Quoting igmak
EU has hit support at 127% fib retracement 1.2765

My TPs at around monthly pivot 1.3100 and R1 1.3350 with SL 1.2750
Just retracement and soon will pulback to downward
Bismillah
  • #580,629
  • Jan 5, 2012 5:36pm Jan 5, 2012 5:36pm
Quoting dove_alliance
A central pivot is the opening price of a candle - may it be a 1 minute or 1 month candle. And each time price opens on a candle it will generate from the pressure of the last candle and this is where you get your retrace of a candle in a trend when it opens. Generally it is any where between 1 and 6 pips on your lower TF's. But when you get into your upper TF it is a different story.

Once this pressure is completed it then will return to the central pivot and continue on into the trend of that candle.

Now - lets take this weekly and monthly candle...

OK...Thanks
  • #580,630
  • Jan 5, 2012 5:38pm Jan 5, 2012 5:38pm
Quoting mohan76
Good morning ,

good to wake up with green pips
Good morning mate, yes indeed.

How is your trading doing? I hope well.
Beauty awakens the soul to act. Dante Alighieri
  • #580,631
  • Jan 5, 2012 5:40pm Jan 5, 2012 5:40pm
Quoting troutguy
OK...Thanks
The point I was getting across is this market psychology is NOT pretty straight forward.
The Dove - Forex Trainer
  • #580,632
  • Jan 5, 2012 5:45pm Jan 5, 2012 5:45pm
Quoting krunfx
Just retracement and soon will pulback to downward

I know it might retrace to monthly pivot or even R1 and that is around 500 pips
Do not follow my trades. Trade what you see on your own charts.
  • #580,633
  • Jan 5, 2012 5:49pm Jan 5, 2012 5:49pm
POTENTIAL RETRACEMENT FOR EURO DOLAR...NFP will tell the truth soon..
Attached Image (click to enlarge)
Click to Enlarge Name: euro7.JPG Size: 89 KB
Bismillah
  • #580,634
  • Jan 5, 2012 5:51pm Jan 5, 2012 5:51pm
Quoting LaMaschera
Good morning mate, yes indeed.

How is your trading doing? I hope well.
first one hit sl 9 pip , bit of early , i forgot the rule no trade before 11:30 , now have to fix it
Mohan
  • #580,635
  • Jan 5, 2012 5:54pm Jan 5, 2012 5:54pm
Quoting dove_alliance
The point I was getting across is this market psychology is NOT pretty straight forward.
Sometime I think that all this TA is only good to get people addicted to trading and continue to lose money., not sure.
Because once you gain or think you have gained the complete knowledge of any concept/theory then it will be hard to discard it as junk. :nerd:
Beauty awakens the soul to act. Dante Alighieri
  • #580,636
  • Jan 5, 2012 5:57pm Jan 5, 2012 5:57pm
Quoting mohan76
first one hit sl 9 pip , bit of early , i forgot the rule no trade before 11:30 , now have to fix it
Yes we need rules to follow. Best to lose and follow, then win and not follow.
Beauty awakens the soul to act. Dante Alighieri
  • #580,637
  • Jan 5, 2012 6:12pm Jan 5, 2012 6:12pm
A bit of a feel:

German retail sales dropped; Eurozone industrial orders rose and PPI declined; UK PMI hit 5-month high; French bond auction saw lower bid to cover ratios.

The greenback is higher against all majors in the ongoing session. The biggest relative strength losers are NZD and AUD. Major European equity indices are lower by 1% to 2.1%.

EURUSD fell sharply after German retail sales declined -0.9% in November from previous -0.2% which is considerably below market expectations of 0.2% growth. Eurozone industrial orders that rose 1.8% in October after declining -6.4% in September (1.6% y/y) were not able to stop common currency's decline as it slid to a low at 1.2830. Eurozone November PPI declined to 5.3% from 5.5% y/y indicating that even consumer inflation should continue to slow and come closer to ECB's 2% target.

UK PMI services rose to a five months high at 54.0 in December from 52.1 which is significantly above expectations of 51.6. The business expectations component fell to 63.5 from 67.4 but activity and new work both increased at the fastest pace since July. The improvement in both manufacturing and services PMI reduces the probability of an increase of the Asset Purchase Facility. The MPC meets next Thursday. EURGBP dropped to 0.8253, lowest since September 2010.
France sold EUR 7.963 bln (EUR 7-8 bln target) worth of bonds with various maturities today. The largest auction, EUR 4.02 bln 2021 OAT resulted in a slightly higher yield 3.29% from 3.18% and bid to cover was 1.64, considerably below previous 3.05.
Beauty awakens the soul to act. Dante Alighieri
  • #580,638
  • Jan 5, 2012 6:30pm Jan 5, 2012 6:30pm
Quoting LaMaschera
A bit of a feel:

German retail sales dropped; Eurozone industrial orders rose and PPI declined; UK PMI hit 5-month high; French bond auction saw lower bid to cover ratios.

The greenback is higher against all majors in the ongoing session. The biggest relative strength losers are NZD and AUD. Major European equity indices are lower by 1% to 2.1%.

EURUSD fell sharply after German retail sales declined -0.9% in November from previous -0.2% which is considerably below market expectations of 0.2% growth. Eurozone industrial orders that rose...
you are just doing a copy / paste thing ''''' add some of your thinking as well on it so that you can learn more ?
  • #580,639
  • Jan 5, 2012 6:36pm Jan 5, 2012 6:36pm
Quoting Fx Thinker
you are just doing a copy / paste thing ''''' add some of your thinking as well on it so that you can learn more ?
this summary is helpful , its always remind me thinks that i forgot
Mohan
  • #580,640
  • Jan 5, 2012 6:44pm Jan 5, 2012 6:44pm
Quoting Fx Thinker
you are just doing a copy / paste thing ''''' add some of your thinking as well on it so that you can learn more ?
I am doing copy and paste of what I think is relevant of the past day, just to get a feel. (a bit of a feel?) Learn more? About what? My trade are not based on fundamentals, I leave that to people like you, my trades are based only on PA, on price and pulse.
Beauty awakens the soul to act. Dante Alighieri
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