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  • #611,161
  • Mar 17, 2012 7:34pm Mar 17, 2012 7:34pm
Quoting mohan76
let add few more words

support & resistant (1) not a iron wall , it's there to be taken out, so use your knowledge (5) to calculate your risk (4) and manage trade wisely (3), if you don't feel comfortable just Sit on hands (2).

don't forget all undertaken trades are winning trade with +0 pip tp
Hope you're having a nice weekend.
Very good, Thanks you've actually added something:

Support & Resistance and the break of them.
Can't give you the reward that I had in mind.
That is a "V" and you have that already.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #611,162
  • Mar 17, 2012 7:35pm Mar 17, 2012 7:35pm
Quoting KillerWhale
No, I do use fibs though.
Always thought I should make more use of pivots but there are so many of them. We have different pivots calculations and different closing times for dailies and 4 hourlies depending on your broker, so if anyone could tell me what reliable pivots are I would sure be using them.
That's why I was wondering. I see a lot of people using pivots but no one can agree on when to calculate them 12-12est 5-5est 12-12gmt. Maybe they're more useful with indices since there is set open close time but I'm not sure about forex.
  • #611,163
  • Mar 17, 2012 7:50pm Mar 17, 2012 7:50pm
Quoting KillerWhale
Hope you're having a nice weekend.
Very good, Thanks you've actually added something:

Support & Resistance and the break of them.
Can't give you the reward that I had in mind.
That is a "V" and you have that already.
I feel excellent ,this Friday gave pleasant surprises & i did not fell slept on keyboard like last Friday , i have close all my trade before market close.
Mohan
  • #611,164
  • Mar 17, 2012 9:01pm Mar 17, 2012 9:01pm
Quoting KillerWhale
No, I do use fibs though.
Always thought I should make more use of pivots but there are so many of them. We have different pivots calculations and different closing times for dailies and 4 hourlies depending on your broker, so if anyone could tell me what reliable pivots are I would sure be using them.
Quoting blackstar
That's why I was wondering. I see a lot of people using pivots but no one can agree on when to calculate them 12-12est 5-5est 12-12gmt. Maybe they're more useful with indices since there is set open close time but I'm not sure about forex.
It's simple mates, just a lil bit tricky.

Market opens the trading day in Wellington and closes in NY. The close price of NY is the valid parameter. Currently, the standard daily pivots are calculated using the close of the 2100GMT 60min period.

Cheers,
Motion
Don't just beat the markets, leave bruises.
  • #611,165
  • Mar 17, 2012 9:09pm Mar 17, 2012 9:09pm
Quoting Motion
It's simple mates, just a lil bit tricky.

Market opens the trading day in Wellington and closes in NY. The close price of NY is the valid parameter. Currently, the standard daily pivots are calculated using the close of the 2100GMT 60min period.

Cheers,
Motion
Yep. That's what I use. And I like how price reacts to the pivot and that the big dogs use them, too.
Time turns trend. - W.D. Gann
  • #611,166
  • Mar 17, 2012 9:19pm Mar 17, 2012 9:19pm
Quoting Motion
It's simple mates, just a lil bit tricky.

Market opens the trading day in Wellington and closes in NY. The close price of NY is the valid parameter. Currently, the standard daily pivots are calculated using the close of the 2100GMT 60min period.

Cheers,
Motion
Thanks I'll give it a try.
  • #611,167
  • Mar 17, 2012 9:22pm Mar 17, 2012 9:22pm
Quoting blackstar
That's why I was wondering. I see a lot of people using pivots but no one can agree on when to calculate them 12-12est 5-5est 12-12gmt. Maybe they're more useful with indices since there is set open close time but I'm not sure about forex.
Here's a link that discusses about pivot points. Read what "rklee1" has researched about them. Very interesting.

http://forums.babypips.com/expert-ad...-point-ea.html
Time turns trend. - W.D. Gann
  • #611,168
  • Mar 17, 2012 9:37pm Mar 17, 2012 9:37pm
Quoting ForExtraPips
Here's a link that discusses about pivot points. Read what "rklee1" has researched about them. Very interesting.

http://forums.babypips.com/expert-ad...-point-ea.html
Another Holy Grail?
Thanks but NO Thanks
New voice message: Why are you calling me? If I need you, I'll call you!
  • #611,169
  • Mar 17, 2012 9:52pm Mar 17, 2012 9:52pm
Quoting KillerWhale
Another Holy Grail?
Thanks but NO Thanks
Out of the different methods that I've tried, this method gave me the best results. But I used it without an EA. I had to babysit my trades. And only traded it during the NY/London overlap. Why I stopped using it, who knows. Oh, I know why. Still looking for that "Holy Grail." I call this method the Slowly Snail. Since it takes for ever for price to finally get there. But back to it I go.
Time turns trend. - W.D. Gann
  • #611,170
  • Mar 17, 2012 10:03pm Mar 17, 2012 10:03pm
Market opens at 6pm and closes at 5pm next day
Much discussion about gaps but if your broker is not open at a certain time then cannot be traded. There is a "GAP' when trading eurfx futures. I see on threads where before 6pm on Sunday [est] where prices are up or down 60/70 pips but when the futures open at 6pm the cash [forex] and futures come together because of arbs.

One of the things I have noticed when trading eurfx futures is that there will be a 'closing price' right at 5pm this corresponds to the forex clsing price at 5pm and then no more than 10 minutes after 5pm the exchange post a 'settlement' price. Some time this price is very close [like friday close is 3182 and settlement at 3179 and sometimes it is 15 to 25 points different. When trading eurfx futures one MUST calculate the pivots for both yes close and yes settle and since this was friday the weekly pivots have to be calculated for both sets.

A couple of pivot points I have found missing on forex mt4 platform is the r1/s1 pivot [simply the midpoint between r1 nad s1] and the waist figure which is yesterday's close plus yesterday's open divided by 2

again hard to do in forex eur/usd due to the different open and close times
All trends begin with the smallest time frame
  • #611,171
  • Mar 17, 2012 10:08pm Mar 17, 2012 10:08pm
Shouldn'tweallbewritinginGreentoday? IheardthatitisSt.Patrick'sDayandthatthisdayhassomethingtodowithgreen.
Theysellgreenbeerandeveryidiotiswearinggreenclothes.
ImustsayIhavenofxxkingcluewhythaydothatandI'mnotdoingitmyselfbutI'mwritinggreennowjusttomakeitharderforyouguystoread.
JustthinkingitwillalsomakeithardertoreadifItakeoutallthespacesbetweenthewords.ThatwayitwillgiveyousomethingtodoonalazySunday.
Totrytoreadthis.Itsraininghereanywaysothereisnothingtodolikeoutsidebarbequingorso.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #611,172
  • Mar 17, 2012 10:29pm Mar 17, 2012 10:29pm
Speaking of weekly pivots. Where did price close at on Friday? 1.3165 What was the weekly pivot for last week? 1.3169 So, that tells me that price will head south come the start of next week.
Time turns trend. - W.D. Gann
  • #611,173
  • Mar 17, 2012 11:09pm Mar 17, 2012 11:09pm
Quoting ForExtraPips
Speaking of weekly pivots. Where did price close at on Friday? 1.3165 What was the weekly pivot for last week? 1.3169 So, that tells me that price will head south come the start of next week.
my brokers collections Friday closed between 1.3172 ~ 74 does you broker close 1h early ?
Mohan
  • #611,174
  • Mar 17, 2012 11:13pm Mar 17, 2012 11:13pm
Quoting KillerWhale
Maybe it would become more clear when the brokers provided us with yearly, 10 yearly and 100 yearly charts.
I got a Century Chart starting from 1995, the first candle will close by the end of 2094. So far its up from 0.8000 to now at 1.3200.

ps. Sometimes I feel this trading shit is bigger than the universe.
The Thief of Wall Street
  • #611,175
  • Mar 17, 2012 11:15pm Mar 17, 2012 11:15pm
Quoting mohan76
my brokers collections Friday closed between 1.3172 ~ 74 does you broker close 1h early ?
My broker is IBFX and they close at 3pm Central time here. The one thing I don't like about them is that they open an hour later come Sunday.
Time turns trend. - W.D. Gann
  • #611,176
  • Mar 17, 2012 11:22pm Mar 17, 2012 11:22pm
Quoting ForExtraPips
My broker is IBFX and they close at 3pm Central time here. The one thing I don't like about them is that they open an hour later come Sunday.
in that case they must closing one our early too (1 hour late open and 1 h early give them some time to do some stop hunt & profit cut )
Mohan
  • #611,177
  • Mar 17, 2012 11:24pm Mar 17, 2012 11:24pm
Quoting Chicky
I got a Century Chart starting from 1995, the first candle will close by the end of 2094. So far its up from 0.8000 to now at 1.3200.

ps. Sometimes I feel this trading shit is bigger than the universe.
Chicky, as a friend, please keep me informed about the development of that first candle. It might set the tone for the first 1,000 years to come. So it is really important info to get an idea about the exchange rate in the year 3000.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #611,178
  • Mar 17, 2012 11:24pm Mar 17, 2012 11:24pm
Quoting mohan76
in that case they must closing one our early too (1 hour late open and 1 h early give them some time to do some stop hunt & profit cut )
Exactly. Those dirty bastards.
Time turns trend. - W.D. Gann
  • #611,179
  • Mar 17, 2012 11:29pm Mar 17, 2012 11:29pm
Another reason that I'm going short come Sunday. After price shot up like that on Friday, then comes the 50% retracement. So my TP is 1.3117 with no SL. I'm tired of the games that they play. Since they know where your SL is at. And the hunting they will go.
Attached Image (click to enlarge)
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Time turns trend. - W.D. Gann
  • #611,180
  • Mar 17, 2012 11:33pm Mar 17, 2012 11:33pm
Quoting KillerWhale
Chicky, as a friend, please keep me informed about the development of that first candle. It might set the tone for the first 1,000 years to come. So it is really important info to get an idea about the exchange rate in the year 3000.
OK. Here is the first feedback on this candle.
Attached Image
The Thief of Wall Street
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