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  • #12,561
  • Nov 9, 2012 1:29pm Nov 9, 2012 1:29pm
Quoting DaddyBear
Pivot is a twilight zone of R/S. It means something. It's S0 and R0. BTW, there is nobody in my mind to follow.
Perhaps we have different idea as to what pivots are.I generally avoid Daily pivot,weekly,Fib pivots(very subjective in nature depending where it has been drawn.
I will illustrate better what I mean

http://www.dailyfx.com/technical_analysis/pivot_points/
Total none issue to me.Its the result of approaching Price from western concept of movement that is mechanical,controlled measured and attached numbers to them (rather precise numbers)
Reality is Price movement is more general but within boundaries of Trend lines and Median lines.Everything else are attempts to makes sanse something that is inherently fluid.
In trading, you have to be defensive and aggressive at the same time
  • #12,562
  • Nov 9, 2012 1:34pm Nov 9, 2012 1:34pm
Quoting Davit
Perhaps we have different idea as to what pivots are.I generally avoid Daily pivot,weekly,Fib pivots(very subjective in nature depending where it has been drawn.
I will illustrate better what I mean

http://www.dailyfx.com/technical_analysis/pivot_points/
Total none issue to me.Its the result of approaching Price from western concept of movement that is mechanical,controlled measured and attached numbers to them (rather precise numbers)
Reality is Price movement is more general but within boundaries of Trend lines and Median lines.Everything...
To be honest I don't use Pivot much. But, My observations indicate most people pay attention to it. It ends up a self-fulfilled important component in the charts. I trade on the human mentality waves, so I have to pay attention to what is important to most people.
daddybearforex. com
  • #12,563
  • Nov 9, 2012 1:37pm Nov 9, 2012 1:37pm
Quoting DaddyBear
To be honest I don't use Pivot much. But, My observations indicate most people pay attention to it. It ends up a self-fulfilled important component in the charts. I trade on the human mentality waves, so I have to pay attention to what is important to most people.
In other words, follow the trend which is driven by the majority of the market participants. When most people think the Pivot means something, the PA will respect it. We will see how it works soon. It's 1.0410.
daddybearforex. com
  • #12,564
  • Edited 2:03pm Nov 9, 2012 1:43pm | Edited 2:03pm
Quoting DaddyBear
In other words, follow the trend which is driven by the majority of the market participants. When most people think the Pivot means something, the PA will respect it. We will see how it works soon. It's 1.0410.
We are in the market to make green pips not to be intelligent. I believe most people here are smart guys, but I have found the smarter a person is, the more chances are that he is going to be outsmarted by the market. The market is irrational at best.
daddybearforex. com
  • #12,565
  • Nov 9, 2012 1:50pm Nov 9, 2012 1:50pm
When considering the Pivot as a zone, the latest Bull attempt has been rejected before entering the zone. I see the bulls losing their momentum now.
daddybearforex. com
  • #12,566
  • Nov 9, 2012 2:01pm Nov 9, 2012 2:01pm
Quoting DaddyBear
When considering the Pivot as a zone, the latest Bull attempt has been rejected before entering the zone. I see the bulls losing their momentum now.
In fact, it was rejected by H1 R.
daddybearforex. com
  • #12,567
  • Nov 9, 2012 2:06pm Nov 9, 2012 2:06pm
The elevator is losing the power. A free fall may be in the cards.

http://www.forexfactory.com/attachme...1&d=1352473759
daddybearforex. com
  • #12,568
  • Nov 9, 2012 2:17pm Nov 9, 2012 2:17pm
Friday afternoon is good for trading practice. Use small size to gain experiences.

Good judgements came from good experiences.
Good experiences came from bad judgements.
daddybearforex. com
  • #12,569
  • Nov 9, 2012 2:19pm Nov 9, 2012 2:19pm
Quoting DaddyBear
Friday afternoon is good for trading practice. Use small size to gain experiences.

Good judgements came from good experiences.
Good experiences came from bad judgements.
If someone has not lost money in the market, he cannot be a successful trader or speculator. No pain no gain.
daddybearforex. com
  • #12,570
  • Nov 9, 2012 2:27pm Nov 9, 2012 2:27pm
Quoting DaddyBear
The elevator is losing the power. A free fall may be in the cards.

http://www.forexfactory.com/attachme...1&d=1352473759
Looks like the cable holding the elevator is on the verge of breaking to two pieces.
daddybearforex. com
  • #12,571
  • Nov 9, 2012 4:08pm Nov 9, 2012 4:08pm
Quoting DaddyBear
We are in the market to make green pips not to be intelligent. I believe most people here are smart guys, but I have found the smarter a person is, the more chances are that he is going to be outsmarted by the market. The market is irrational at best.
This is why I seldom play every wave and either buy buy buy, or sell sell sell, depending on my long term view of a particular pair. Too often, I would buy when fully knowing that a big downtrend is in place/imminent and I'd always pay the price. 5percent, for example, doesn't comprehend the concept of one's trades at times being in the red, which is possible when setting up a structural buy/sell order.

The point being - quite often when I know the trend direction, I am seldom able to predict the retractions - especially with some very long trends in the recent past where retractions would come in only 1000 pips later.
  • #12,572
  • Nov 9, 2012 4:14pm Nov 9, 2012 4:14pm
Quoting DaddyBear
Looks like the cable holding the elevator is on the verge of breaking to two pieces.
Although this week was a disaster due to no power and limited Internet connection, It was one of the best performance week I have had so far. My potential could be unwound under such a pressure. I am going to look into trading under hardship. May be I can find something.
daddybearforex. com
  • #12,573
  • Nov 9, 2012 4:14pm Nov 9, 2012 4:14pm
Quoting DaddyBear
If someone has not lost money in the market, he cannot be a successful trader or speculator. No pain no gain.
DB, sounds like you lost some money today ^^
  • #12,574
  • Nov 9, 2012 4:19pm Nov 9, 2012 4:19pm
Quoting maximmm
This is why I seldom play every wave and either buy buy buy, or sell sell sell, depending on my long term view of a particular pair. Too often, I would buy when fully knowing that a big downtrend is in place/imminent and I'd always pay the price. 5percent, for example, doesn't comprehend the concept of one's trades at times being in the red, which is possible when setting up a structural buy/sell order.

The point being - quite often when I know the trend direction, I am seldom able to predict the retractions - especially with some very long...
No retracements within a 1000 pips run? I haven't seen anything like this before. There must be some breaks in an up or a down trend.
daddybearforex. com
  • #12,575
  • Edited 4:42pm Nov 9, 2012 4:22pm | Edited 4:42pm
Quoting maximmm
DB, sounds like you lost some money today ^^
I lost some money due to limited Internet connection but I have made most money back after that.

Today I made good pips from the trade entered last night at 1.0432.
daddybearforex. com
  • #12,576
  • Nov 9, 2012 5:15pm Nov 9, 2012 5:15pm
This weekend I will be looking into the D1 and H4 charts to figure out the Aussie's next move. At this juncture, it is a puzzle to me. However, I don't have any open positions now, so I have no bias.
daddybearforex. com
  • #12,577
  • Nov 9, 2012 5:25pm Nov 9, 2012 5:25pm
Ironically, the worry has lifted the dollar [.DXY 81.03 http://media.cnbc.com/i/CNBC/CNBC_Im...tchlist_up.gif 0.23 (+0.28%) http://media.cnbc.com/i/CNBC/CNBC_Im...ltime_icon.gif] (http://data.cnbc.com/quotes/.dxy) as its safe-haven status seems to outweigh its obvious sensitivity to U.S. fiscal policies.

"Over the next several weeks we expect the U.S. dollar and yen [JPY=X 79.47 --- UNCH http://media.cnbc.com/i/CNBC/CNBC_Im...ltime_icon.gif] (http://data.cnbc.com/quotes/jpy%3dx) to outperform, and most foreign currencies to lose ground.

http://www.cnbc.com/id/49761754
daddybearforex. com
  • #12,578
  • Nov 9, 2012 6:12pm Nov 9, 2012 6:12pm
Quoting DaddyBear
This weekend I will be looking into the D1 and H4 charts to figure out the Aussie's next move. At this juncture, it is a puzzle to me. However, I don't have any open positions now, so I have no bias.
Once Aud goes below 1.03, expect a move towards 1.015 or 1.013 even

The daily candles from the past 3 days have been bearish but not overly so - making it appear as if yet another move up is possible. Yet... I am doubtful. We'll see.
  • #12,579
  • Nov 9, 2012 6:48pm Nov 9, 2012 6:48pm
Quoting maximmm
Once Aud goes below 1.03, expect a move towards 1.015 or 1.013 even

The daily candles from the past 3 days have been bearish but not overly so - making it appear as if yet another move up is possible. Yet... I am doubtful. We'll see.
After looking into D1 chart carefully, I'd say the Bulls are not done yet in the daily context. The daily has formed a super Doji and H4 has a hammer. This hammer is a part of the super Doji. Both are sitting on the LTL.

Sunday open may see a drop toward the TL then a move up for another Bulls' attempt to retest 1.0480x or beyond. IMO
daddybearforex. com
  • #12,580
  • Nov 9, 2012 6:50pm Nov 9, 2012 6:50pm
Quoting DaddyBear
Ironically, the worry has lifted the dollar [.DXY 81.03 http://media.cnbc.com/i/CNBC/CNBC_Im...tchlist_up.gif 0.23 (+0.28%) http://media.cnbc.com/i/CNBC/CNBC_Im...ltime_icon.gif] (http://data.cnbc.com/quotes/.dxy) as its safe-haven status seems to outweigh its obvious sensitivity to U.S. fiscal policies.

"Over the next several weeks we expect the U.S. dollar and yen [url="http://data.cnbc.com/quotes/jpy%3dx"][JPY=X 79.47...
Based on the previous analysis, the Aussie may outperform the USD and other currencies next week.
daddybearforex. com
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