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  • #808,401
  • Jun 18, 2013 12:51am Jun 18, 2013 12:51am
Quoting tsujigiri
{quote} {quote} {quote} Thanks guys, very useful. I've been using daily pivots on 1H and under charts then the weekly pivots on my 4H chart and monthly pivots on my 1D and 1W charts. I use the 200SMA similar to the pivot midpoints and especially when they agree (ie, above pivot and 200SMA, look to be bullish, etc). I've not really used midpoints though, might have to look into them a bit more. I take especial note when R and S levels between the pivot timeframes are confluent. Last question though, do you use classic pivots or one of the others...

In my experience pivots are rather subjective points.You can take 10 different points and all could be true depending which pivots you look at it.
In my thinking lot of software is already programmed to attack trend lines and pivots because that's where the stops are.
I come to realization that closest thing in predicting the price is harmonics which is based on fibs and Elliot wave.
One day you will shed all the pivots from your charts and that I am sure of.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #808,402
  • Jun 18, 2013 12:53am Jun 18, 2013 12:53am
Quoting Petiedawgs
{quote} Sorry got busy at another job. I usually hold it as long as I can but look for 3:1. I usually get my winning trade, but end up blowing it because I over trade or try to reverse. I have to take a breather after a winning trade but always reenter the market.
yep, it sounds like you're fighting with some inner demons.. remember you only need 1 good trade a month to make a living..

gl
Patience is a virtue...
  • #808,403
  • Jun 18, 2013 12:54am Jun 18, 2013 12:54am
Quoting Chicky
{quote} Even a six year old kid expects a retrace from these levels. {image}
I agree with you. Today the market needs a retrace or pull back. The market needs to be nearly flat on h1,h4 for wednesday evening. Today is the day for a retrace.
  • #808,404
  • Jun 18, 2013 12:57am Jun 18, 2013 12:57am
Quoting Davit
{quote} In my experience pivots are rather subjective points.You can take 10 different points and all could be true depending which pivots you look at it. In my thinking lot of software is already programmed to attack trend lines and pivots because that's where the stops are. I come to realization that closest thing in predicting the price is harmonics which is based on fibs and Elliot wave. One day you will shed all the pivots from your charts and that I am sure of. Regards
Trading in general is subjective in nature.
When the facts change I change my mind, what do you do sir
  • #808,405
  • Jun 18, 2013 1:00am Jun 18, 2013 1:00am
Quoting OfWolfAndMan
{quote} What would be the 3 year old thinking now ? What if we throw in a 9 year old ?? How can that info influence our six year old's expectation for a retrace ???
IMO if there is not a retrace today, or put today the H4 fram flat or nearly flat, the tendence would be too clear before Bernanke' speech. Uptrend would be nearly exhausted.
  • #808,406
  • Jun 18, 2013 1:01am Jun 18, 2013 1:01am
Time for Super Mario, lets see if he helps the retracement or starts the bulls running...
  • #808,407
  • Jun 18, 2013 1:02am Jun 18, 2013 1:02am
Quoting JimmyC
Time for Super Mario, lets see if he helps the retracement or starts the bulls running...
He is talking at the Bank of Israel. It shouldn't be anything spectacular.
When the facts change I change my mind, what do you do sir
  • #808,408
  • Jun 18, 2013 1:04am Jun 18, 2013 1:04am
Quoting Pip Anon
{quote} He is talking at the Bank of Israel. It shouldn't be anything spectacular.
True, definitely more action tomorrow on the Fed
  • #808,409
  • Jun 18, 2013 1:05am Jun 18, 2013 1:05am
Quoting Pip Anon
{quote} Trading in general is subjective in nature.

To some extend you are correct however price history based on harmonics transcends subjectivity.
In trading, you have to be defensive and aggressive at the same time
  • #808,410
  • Jun 18, 2013 1:06am Jun 18, 2013 1:06am
Quoting gatorinla
{quote} shes trying {image} {image}
another shot at Franky. still a LL is favored with the LH.
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those who can, do. those who cant, talk about those who can
  • #808,411
  • Jun 18, 2013 1:06am Jun 18, 2013 1:06am
Quoting Davit
{quote} In my experience pivots are rather subjective points.You can take 10 different points and all could be true depending which pivots you look at it. In my thinking lot of software is already programmed to attack trend lines and pivots because that's where the stops are. I come to realization that closest thing in predicting the price is harmonics which is based on fibs and Elliot wave. One day you will shed...
Tell me why the software is incompatible with fibs & EW.

P.S. I asked it for informational purposes only, I'm not trying to argue with you.
  • #808,412
  • Jun 18, 2013 1:07am Jun 18, 2013 1:07am
Quoting godim
For the cable is the same. Resistance - 5707. Support: 5680, 5674 and 5625. {image}
5680. I think this level is important.

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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #808,413
  • Jun 18, 2013 1:11am Jun 18, 2013 1:11am
Quoting Pip Anon
{quote} Trading in general is subjective in nature.
The only objective thing is maths,and scientists careers. Of course this is not objective. If it would be objective, nobody would loose, and nobody would win money.
We are trying to apply stadistic models to something that is subjectiv and manipulated. THe stadistic models increase the chance to ge a winner position, but that's all, you will have always a percentaje to fail.
  • #808,414
  • Jun 18, 2013 1:16am Jun 18, 2013 1:16am
Quoting OfWolfAndMan
{quote} Tell me why the software is incompatible with fibs & EW. P.S. I asked it for informational purposes only, I'm not trying to argue with you.

Evidence still points that harmonics,Gartley,Elliot Wave are still very effective meaning price behavior is overwhelming to program anything against it.
If anything I suspect allgorhythms are programed to capitalize on this key levels.For example fib 38.2 61.8 and 88.6 are key numbers to look for price to either violate or retrace.
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In trading, you have to be defensive and aggressive at the same time
  • #808,415
  • Jun 18, 2013 1:19am Jun 18, 2013 1:19am
Quoting Davit
{quote} In my experience pivots are rather subjective points.You can take 10 different points and all could be true depending which pivots you look at it. In my thinking lot of software is already programmed to attack trend lines and pivots because that's where the stops are. I come to realization that closest thing in predicting the price is harmonics which is based on fibs and Elliot wave. One day you will shed all the pivots from your charts and that I am sure of. Regards
In my experience, fibs and elliot wave is just as subjective as pivot points, probably more so. When 10 different people look at the daily pivots of the same feed, they have the same figures. They will all interpret their places differently and interpret PA around the points differently, but they have the same levels. Different price feeds give slightly different levels, but usually not by much.

Fibs and EW have all the above plus add into that mix the point that not all traders using those tools use the same start and end point (for the fib 0% and 100% points or for EW interpreting where the waves start and end). This probably means that the skillful can tweak it but also means the levels produced are more personal and subjective.

I think what you mean is that harmonics based on fibs and EW allow you to understand PA movements better than pivots. There is no one tool that provides the truth. The whole market is subjective and the only objective element is what price your trade gets filled at on open and close. Everything else is time delayed, transient or summarised.

I didn't actually say what I use the pivots for outside of the actual pivot point as a bullish/bearish guide. Also I don't try and predict the price, I don't think you can. I look to ride with momentum.
A journey of a thousand miles begins with a single step. Lao-tzu
  • #808,416
  • Jun 18, 2013 1:19am Jun 18, 2013 1:19am
Quoting godim
For the cable is the same. Resistance - 5707. Support: 5680, 5674 and 5625. {image}
5674. Already penetrated .. We expect 5625...

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"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #808,417
  • Jun 18, 2013 1:21am Jun 18, 2013 1:21am
I have 10 short positions on EUR/CAD
starting from 36 and 3620.This was posted on EC thread.
In trading, you have to be defensive and aggressive at the same time
  • #808,418
  • Jun 18, 2013 1:21am Jun 18, 2013 1:21am
Quoting Ambar
{quote} The only objective thing is maths,and scientists careers. Of course this is not objective. If it would be objective, nobody would loose, and nobody would win money. We are trying to apply stadistic models to something that is subjectiv and manipulated. THe stadistic models increase the chance to ge a winner position, but that's all, you will have always a percentaje to fail.
Only objectiveness is trading completely automated IMO. Math is objective, but when applied discretionary to analysis is subjective. I say this because we determine whether or not to trade on the given output. Feelings, thoughts, etc are then entered into the equation.

We can have software that tells us how to trade, but, really, who has traded completely mechanically manually?
When the facts change I change my mind, what do you do sir
  • #808,419
  • Jun 18, 2013 1:23am Jun 18, 2013 1:23am
Quoting Davit
{quote} To some extend you are correct however price history based on harmonics transcends subjectivity.
Not to the fullest. Your mind and reasoning is still in play whatever it is. I like to keep to math related TA rather than subjective TA, but when we are in control we tend not to be lol
When the facts change I change my mind, what do you do sir
  • #808,420
  • Jun 18, 2013 1:25am Jun 18, 2013 1:25am
Quoting tsujigiri
{quote} In my experience, fibs and elliot wave is just as subjective as pivot points, probably more so. When 10 different people look at the daily pivots of the same feed, they have the same figures. They will all interpret their places differently and interpret PA around the points differently, but they have the same levels. Different price feeds give slightly different levels, but usually not by much. Fibs and EW have all the above plus add into that mix the point that not all traders using those tools use the same start and end point (for the...
Good point. I have seen 3 traders charts of the same pair with Fibs in different places. Whether it's correct or not is irrelevant because to each it's correct.... subjectivity?
When the facts change I change my mind, what do you do sir
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