I trade pivots | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

New Time-Adjustable Daily Pivots Indicator for MT4 68 replies

Standard Pivots and Fibonnaci Pivots? 9 replies

Automated Daily/Weekly Pivots here 117 replies

We all need pivots to win..yes or not? 13 replies

Trade using Just Pivots 14 replies

Attachments: I trade pivots
Exit Attachments

I trade pivots

  • #1
  • First Post: Edited Apr 1, 2014 4:40pm Mar 14, 2013 3:23pm | Edited Apr 1, 2014 4:40pm
My own quite place about pivot points trading and some fibo retracements.
I will focus on swing trades, mainly H4 and up.
Pairs:
EUR/USD
GBP/USD
USD/YEN
AUD/USD
Oil
swing it!
  • #2
  • Mar 19, 2013 2:15pm Mar 19, 2013 2:15pm
Hi Tom, i trade Pivots too, and other horizontal levels like previus high and low, or Asiatic support and resistance. My entries are with a Price action figure in those levels.

Which hour zone do you use to calculate pivots??
I am using GMT, and East coast time too, although the ones that work better are GMT.

I take place in your thread because i am interested in your posts.

Thanks

Fran
  • #3
  • Mar 19, 2013 2:33pm Mar 19, 2013 2:33pm
Quoting franito
Hi Tom, i trade Pivots too, and other horizontal levels like previus high and low, or Asiatic support and resistance. My entries are with a Price action figure in those levels.

Which hour zone do you use to calculate pivots??
I am using GMT, and East coast time too, although the ones that work better are GMT.

I take place in your thread because i am interested in your posts.

Thanks

Fran
Hey Fran
Well, welcome mate, My pivots are calculated automaticaly(GMT+1) I use pivots D5 for intraday and TZ pivots MW ver 3.5 for weekly levels,
all credits goes to Mr Forexcube for posting them, google it and you will find them here free on FF, if you need help with tune up (look etc) pm me and I will gladly help you, I should keep this place occupied as I planned but due to recent job obligations I never posted anything. I am swing trader and this is my test if I can be successfull intraday.
This journal was more intended to post bad trades than good and analise what went wrong at that time, so if you wish you are more than welcome to post your ideas here - I would rather see bad trades than the good ones but overall ideas about direction of the market are very welcome, I do not need to know results as well, just thoughts about the market and improving as trader
Good luck
regards
Tom
swing it!
  • #4
  • Mar 19, 2013 3:32pm Mar 19, 2013 3:32pm
Hi Tom, i use some indicators made on my own. Although sometimes pivot gmt and gmt+1 are the same, in my experience i prefer gmt. I have seen that in american sesion, pivot of east cost time work too.

If you want we can comment our trades with our diferent pivot time zones, so both of us can see which of them work better.


Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.lmxm15.png Size: 42 KB


This is a photo of the graphic i use. You can see GMT pivot in light Brown, and usa pivot in red. No entry for me today
  • #5
  • Mar 19, 2013 3:51pm Mar 19, 2013 3:51pm
There are many methods, I don't know if you know Peter Bain and his old DVD "trading like a big dogs" which is a very good video about how pivots are calculated and how to trade them - a bit old in terms of using price action around them but still very informative. If you calculate them it is wise to do both and compare, one based on NY and second on London session, but as far as I am concerned I would stick with GMT from 00:00 to 00:00 this is well known standard an use by most traders, fire up from tommorow, looking forward to it
swing it!
  • #6
  • Mar 19, 2013 3:56pm Mar 19, 2013 3:56pm
One more thing, do not see pivots as ultimate and "to the pip" point of decision to enter your trade. It is general area of support and resistance, I watch general PA around it compare it from top TF to the bottom. Since yesterday PA is very choppy due to a fundamental noise out of Cyprus so I am not suprised you had a problem. There is always another day - don't bother, patience is the key here.
swing it!
  • #7
  • Mar 19, 2013 5:30pm Mar 19, 2013 5:30pm
Quoting tomspin
One more thing, do not see pivots as ultimate and "to the pip" point of decision to enter your trade. It is general area of support and resistance, I watch general PA around it compare it from top TF to the bottom. Since yesterday PA is very choppy due to a fundamental noise out of Cyprus so I am not suprised you had a problem. There is always another day - don't bother, patience is the key here.
Totally agree, this days it is better to be watching from outside.

As you coment, i use pivots as a reference zone where look for PA figures. If I have nothing, i do nothing.

About which time zome to use, i have studied GMT(London), GMT+1(Europe), GMT-1(NY close), GMT+6(NY), and my results are that all of them work sometimes, i think it is because there are traders in all the time zones in the world. But the most of the times GMT was the best, that is why i choose GMT.
What i do is use the gmt ones as reference to open the trades, and all the others only to see it the Price makes a reversal pattern then close my trade.

As you will see, my TF is M15.

About if the pivot work or not, i can say that in my studies, they work 50% of the times (no surprise here), but my reward/risk is higher than 2, so for every winer trade, i compensate 2 loser ones, so the final result is positive.

Sorry for my bad english, but I am not english speaker.
  • #8
  • Mar 20, 2013 7:07am Mar 20, 2013 7:07am
Three entry this morning were really good:

Decision:
Price pierced trought intraday PP and WmS1 combo area and I have entered after first test,
We had a nice confirmation from higher TF's and general buy op after drop

Why I was stoped?
I think due to release of German bond auction which was slightly worst than expected

Lesson?
Wider stop loss with smaller lot size before news could be solution in this case

Market going according to my initial direction.
swing it!
  • #9
  • Apr 1, 2014 4:45pm Apr 1, 2014 4:45pm
LSCrude
Long
99,58
SL
99,20
TP
104,80

After that nice drop price manage to bounce from mid monthly, I would close if PA turns bearish at 101,08
This could go as high as 113$ per barrel and 92,88$ per barrel.
Attached Image (click to enlarge)
Click to Enlarge Name: crude.jpg Size: 137 KB
swing it!
  • #10
  • Apr 1, 2014 4:58pm Apr 1, 2014 4:58pm
UJ
Currently waiting for new high which could come at 104,25 MR1 I would like to sell that for 102,72 minimum
swing it!
  • #11
  • Apr 2, 2014 4:55am Apr 2, 2014 4:55am
GJ
sell
172,76
sl
172,96
tp
169,75
Attached Image (click to enlarge)
Click to Enlarge Name: geppy.jpg Size: 113 KB
swing it!
  • #12
  • Apr 2, 2014 4:56am Apr 2, 2014 4:56am
NZD/USD
sell
0,8570
sl
0,8580
tp
0,8300
swing it!
  • #13
  • Apr 2, 2014 5:27am Apr 2, 2014 5:27am
Quoting tomspin
LSCrude Long 99,58 SL 99,20 TP 104,80 After that nice drop price manage to bounce from mid monthly, I would close if PA turns bearish at 101,08 This could go as high as 113$ per barrel and 92,88$ per barrel. {image}
closed manually, I don't like current PA
swing it!
  • #14
  • Apr 2, 2014 7:33am Apr 2, 2014 7:33am
Quoting tomspin
{quote} closed manually, I don't like current PA
reversed that from
99,22
sl
99,42
tp
92,00 (with cross of 98,97 more likely, just waiting for a new low to confirm)
swing it!
  • #15
  • Last Post: Apr 2, 2014 7:34am Apr 2, 2014 7:34am
Quoting tomspin
NZD/USD sell 0,8570 sl 0,8580 tp 0,8300
stoped
swing it!
0 traders viewing now