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EUR/USD: IntraDay Scalping and Short Term Swing Trading Only

  • #1,241
  • Edited 8:00am Oct 23, 2015 7:48am | Edited 8:00am
market move off 27 to over 40 in less than 4 minutes. I jumped on that train at 42.6, 2 minutes late, but have moved to BE+1, what a euro rout that was, I was not on that train to south 110th street

reversed short at 45.3

BE+.3

long again at 45.2

how ironic, biggest continuation move in a long time and I'm microscalping the morning and evening after the fact
  • #1,242
  • Edited 8:07am Oct 23, 2015 7:57am | Edited 8:07am
Quoting sakisf
{quote} I added pivots but seems like they are still way off. Using -1 as day time (gmt+2 broker) but s1 shows at 1.1005. Shorted 1053, gonna start some new ones in case of lower low later tonight or retouch of low. sl's at 80. (That's for pip'o' as he was asking for intraday swing trades ) 1.1059 is the projected low of January (high-poc=poc-low) so if we end trading session below this one today, I am overly bearish for next few days (yeah took me 300 pips down to understand that tide changed - might be late already). {image} {image}...
Stop at be for this one. Would put next one below 37 support.

Btw we breached 3 vpocs on this move down since yesterday, next one is far down while the rest on the upside are too far due to fundamentals, could take weeks till we can grab them. 1.1020 could now spring up the move while 1.0985 is a previous weekly projection + support at ~1.0960.

Closed GU shorts at 5370, might be early but want to concentrate on EU. Added some at 40, now moved sl to sensible 65, not wanna ruin this one early.

Quoting Pipologist
how ironic, biggest continuation move in a long time and I'm microscalping the morning and evening after the fact
If you consider yesterday's move, I think it's not too late. Have to consider it's Friday but still....
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  • #1,243
  • Oct 23, 2015 8:15am Oct 23, 2015 8:15am
Quoting sakisf
{quote} I added pivots but seems like they are still way off. Using -1 as day time (gmt+2 broker) but s1 shows at 1.1005. Shorted 1053, gonna start some new ones in case of lower low later tonight or retouch of low. sl's at 80. (That's for pip'o' as he was asking for intraday swing trades ) 1.1059 is the projected low of January (high-poc=poc-low) so if we end trading session below this one today, I am overly bearish for next few days (yeah took me 300 pips down to understand that tide changed - might be late already). {image} {image}...
You need london based GMT 00:00 pivots.
  • #1,244
  • Oct 23, 2015 8:18am Oct 23, 2015 8:18am
US index also hit daily top fib zone. This could potentially be the bottom for euro today. Anyways I have taken risk with tight stop
  • #1,245
  • Oct 23, 2015 8:26am Oct 23, 2015 8:26am
I think right now it's a good time to go against dollar till close of london unless something crazy happens
  • #1,246
  • Oct 23, 2015 8:34am Oct 23, 2015 8:34am
sold at 1.1040 you think its a good idea? or cut the losses short is best?
  • #1,247
  • Oct 23, 2015 8:36am Oct 23, 2015 8:36am
Quoting puney
{quote} You need london based GMT 00:00 pivots.
the above are daily pivots .

Sakisf , I think you are after london based pivots which I start at 06:30 AM just before london starts trading. Hope it helps.
  • #1,248
  • Oct 23, 2015 8:41am Oct 23, 2015 8:41am
Quoting Lbass
sold at 1.1040 you think its a good idea? or cut the losses short is best?
no one knows. we work on probabilities a certain trade works out. if you not sure then make sure you have tight stop.
  • #1,249
  • Oct 23, 2015 8:43am Oct 23, 2015 8:43am
Quoting puney
{quote} the above are daily pivots . Sakisf , I think you are after london based pivots which I start at 06:30 AM just before london starts trading. Hope it helps.
You mean 4hr pivots? I have a shifting one. My broker is gmt+2. So should I put them at 1 hr shift ahead (gmt+3) or 9hr shift so they start with london open?
  • #1,250
  • Oct 23, 2015 8:44am Oct 23, 2015 8:44am
Quoting sakisf
{quote} You mean 4hr pivots? I have a shifting one. My broker is gmt+2. So should I put them at 1 hr shift ahead (gmt+3) or 9hr shift so they start with london open?
try it on 5min chart , I also use 950 tick chart.
  • #1,251
  • Oct 23, 2015 8:45am Oct 23, 2015 8:45am
nothings happening ... btw it could break low to complete wave 5 !!
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  • #1,252
  • Oct 23, 2015 8:47am Oct 23, 2015 8:47am
Quoting Lbass
sold at 1.1040 you think its a good idea? or cut the losses short is best?
I shorted with a bit long term idea of (of 1.15 hrs ) london close bringing it down like yesterday. Seeing how GU started the move down and EG needs a bit of rebalancing maybe it's not the best idea. Can't advise you what to do but I am about to exit if a couple big bad bear candles do not appear soon.

Quoting puney
{quote} try it on 5min chart , I also use 950 tick chart.
Oh you mean pivots which are dependable to the tf you trade? I don't have any. Can't use my tick charts as I can't pay prorealtime/sierra due to capital controls.

Exited shorts at +8,+21 pips. Gonna re-short at retest of 1030 from below if bottom gives.
  • #1,253
  • Oct 23, 2015 8:55am Oct 23, 2015 8:55am
Quoting sakisf
{quote} I shorted with a bit long term idea of (of 1.15 hrs ) london close bringing it down like yesterday. Seeing how GU started the move down and EG needs a bit of rebalancing maybe it's not the best idea. Can't advise you what to do but I am about to exit if a couple big bad bear candles do not appear soon. {quote} Oh you mean pivots which are dependable to the tf you trade? I don't have any. Can't use my tick charts as I can't pay prorealtime/sierra due to capital controls. Exited shorts at +8,+21 pips. Gonna re-short at retest of 1030...
time frame is important when using 06:30 london trading pivots.
  • #1,254
  • Oct 23, 2015 9:04am Oct 23, 2015 9:04am
not sure if anyone noticed monthly pivot is at 11017 , which is also the low swing for the move to 11700
  • #1,255
  • Oct 23, 2015 9:13am Oct 23, 2015 9:13am
Quoting puney
not sure if anyone noticed monthly pivot is at 11017 , which is also the low swing for the move to 11700
do u use a different formula for pivots? my monthly pivot, based on traditional formula, is 1.12413, and monthly S1 is at 1.10225, where price is now..
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Dont trade like me..
  • #1,256
  • Oct 23, 2015 9:49am Oct 23, 2015 9:49am
Quoting sanvulture
{quote} do u use a different formula for pivots? my monthly pivot, based on traditional formula, is 1.12413, and monthly S1 is at 1.10225, where price is now.. {image}
I just use standard pivots based on GMT. I think you need to check if your historical data is valid maybe.

Please note I only use these pivots as starting points for price movements and in my case I only go for 10pips. I dont wait if I could get more, Its clean and emotionless . I just use 10-8 pip stop loss. You may say that R:R ratio is one, but I use confluence of indicators to bring these trades on higher probabiity, so overall will be up.
  • #1,257
  • Oct 23, 2015 10:04am Oct 23, 2015 10:04am
Quoting puney
{quote} I just use standard pivots based on GMT. I think you need to check if your historical data is valid maybe. Please note I only use these pivots as starting points for price movements and in my case I only go for 10pips. I dont wait if I could get more, Its clean and emotionless . I just use 10-8 pip stop loss. You may say that R:R ratio is one, but I use confluence of indicators to bring these trades on higher probabiity, so overall will be up.
when i first added that indicator, i checked.. its correct and based on traditional/standard pivot formula..
i also just checked some websites for the pivots, and it matches..
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We both use standard pivot formula and get different results? strange..
Dont trade like me..
  • #1,258
  • Oct 23, 2015 10:11am Oct 23, 2015 10:11am
Quoting sanvulture
{quote} when i first added that indicator, i checked.. its correct and based on traditional/standard pivot formula.. i also just checked some websites for the pivots, and it matches.. {image} {image} We both use standard pivot formula and get different results? strange..
can you try GMT+1 (european central time)

Edit : can you try GMT+1 (european central time)
  • #1,259
  • Oct 23, 2015 10:24am Oct 23, 2015 10:24am
Quoting puney
{quote} can you try GMT+1 (european central time) Edit : can you try GMT+1 (european central time)
so its the opening time? i thought its monthly, so daily open time doesnt matter..
my broker uses sydney open as daily open..
Thanks for clearing that up..
Dont trade like me..
  • #1,260
  • Oct 23, 2015 11:10am Oct 23, 2015 11:10am
Quoting sanvulture
{quote} so its the opening time? i thought its monthly, so daily open time doesnt matter.. my broker uses sydney open as daily open.. Thanks for clearing that up..
time is important for all pivots, its where you start your high lows etc...If your candles are on another time zone then it will affect results.
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