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Pivot Trading

Quoting lukyman
Hello All, and many thanks Davit. Wished I had found this thread before last night. I wouldnt have left so many pips on the table! Subscibed
keep it up
In trading, you have to be defensive and aggressive at the same time
Actually I have been using your Davit Pivot V2 since several weeks ago. But I don't realize the default setting for broker like OANDA due to I made some profitable trading using default setting. LOL.

Here is my latest setting for broker GMT +3
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I see some good support and resistance using that setting. But you should update H1 Candle Value every week. Don't forget to set Broker's Candle to FALSE.
I try to do the simple things first and then more complicated ones.
Quoting fibosniper
Actually I have been using your Davit Pivot V2 since several weeks ago. But I don't realize the default setting for broker like OANDA due to I made some profitable trading using default setting. LOL. Here is my latest setting for broker GMT +3 {image} I see some good support and resistance using that setting. But you should update H1 Candle Value every week. Don't forget to set Broker's Candle to FALSE.
Key concept is being aware of turning zones
61 specially 78 zone
Google Scott Carney 786 fib you'll get interesting results. 78Fib is not even on Fib Meta tool default setting and many traders are unaware of its significance.
"0.786 Retracement
The 0.786 retracement is the square root of the 0.618. The 0.786
retracement is the next critical area to examine, after the 0.618 has been
clearly violated. The 0.786 is a vital Fibonacci number because it is often
the last chance reversal area before retesting the original price point. Price
action that does not reverse from the 0.786 usually will retest, and often
break past the original starting point. Therefore, 0.786 failures are
significant because the stop loss limit will be clearly defined by the original
starting point and relatively small in comparison to the potential reversal.
The 0.786 retracement is fairly unknown in the industry, although I
believe that more technicians are becoming aware of its significance. In my
opinion, it is a crucial Fibonacci number, since it is one of the last harmonic
ratios before retesting a trends prior high or low and it can provide a clear
indication of the future direction based upon the price action at the number.
Another reason the 0.786 is a valuable Fibonacci number is because it
can often gauge potential opportunities, especially when the surrounding
market noise (information) suggests that the set-up is to be avoided. I
have observed many situations, where the information in the media is quite
contrary to what the price action at the 0.786 is indicating. If a stock is
trending strongly, the 0.786 projection frequently can serve as a key reversal
point, despite such contrary information. The following illustrations and
examples will elucidate this concept."

Example of my recent EU trades.Notice the fib
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In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} Key concept is being aware of turning zones 61 specially 78 zone Google Scott Carney 786 fib you'll get interesting results. 78Fib is not even on Fib Meta tool default setting and many traders are unaware of its significance. "0.786 Retracement The 0.786 retracement is the square root of the 0.618. The 0.786 retracement is the next critical area to examine, after the 0.618 has been clearly violated. The 0.786 is a vital Fibonacci number because it is often the last chance reversal area before retesting the original price point. Price action...
Well noted, Davit.
I also see Good turning zones (61 level) at GBPUSD.
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But Actually I'm still learning to find good level for my TP.
I closed my position while TDI crossed but I realized I closed my position too early.
Sometimes I put TP to next pivot level but price changed the trend before touched that level.
But profit is still profit and I like this system
I try to do the simple things first and then more complicated ones.
Not sure if this upload will work.
JUst for confirmation, is number 2 a valid trade?
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Davit. Those pips that I left on the table, I have just got back thanks to you and 'Cable''!
Sincere appreciation x
Quoting lukyman
Not sure if this upload will work. JUst for confirmation, is number 2 a valid trade?{image}
yes but its late now.PA is moving back to uptrend.
ADP coming up.Be cognoscente of news which many systems just ignore.Its vital because I trade swings!
(one of the reasons I have news feed on my template)
regards
In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} yes but its late now.PA is moving back to uptrend. ADP coming up.Be consciousness of news which many systems just ignore.Its vital because I trade swings! regards
hi,davit,do you find an entry in M5 charts?
Quoting leescofield
{quote} hi,davit,do you find an entry in M5 charts?
lowest TF I trade is 15min. 5min is scalping zone which is totally different mindset

commodity pairs are taking a beating now but when there is carnage there is opertunity to make $$
Look for key support areas on AU NU UC
I like UC the best
In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} yes but its late now.PA is moving back to uptrend. ADP coming up.Be cognoscente of news which many systems just ignore.Its vital because I trade swings! (one of the reasons I have news feed on my template) regards
I managed to get in for 80+
Quoting lukyman
{quote} I managed to get in for 80+
just build one trade at a time and you'll get your monthly gain %
I usually exceed.My benchmark is 10% a month but usually hit twice over.Green pips
In trading, you have to be defensive and aggressive at the same time
Watching EC for weakness.Its at key R 161
look down notice S38
Should charge you guys for using my pivot
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In trading, you have to be defensive and aggressive at the same time
Terrible ADP
In trading, you have to be defensive and aggressive at the same time
I lost money!
Leesco'. Can you post a chart of your trade?
Davit. Is your newsfeed (the one displayed on your charts), downloaded from'euclid's' thread?
sell at the bottom.Shit.
USDCAD GBPUSD
I am going blow my account
I have no patience and when I see loss I close my trade then the price jump up！
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Leesco'. Since following this thread, not only have I gained substantial profit but, more importantly, I have 'saved' profit from NOT entering trades. There several instances, since joining this thread where I would have taken a trade, but kept out because of Davits knowledge. After losing 2/3 demo accounts, a wise trader told me that NOT taking a position IS taking a position. Stay with it, abide by the rules and you'll be fine.
"NOT taking a position IS taking a position"

i like that quote.

thanks for the new thread Davit, iv been using your template with some minor changes with great success for a few months. i didnt have teh pivots added but i can already see the benefit of adding them onto my current trading plan.

that 78 fib line information was also insightful, i had never noticed that before.
Quoting Davit
Terrible ADP
Hello, Davit!

When you spot a setup at an important pivot level, do you go take a look at HTFs? Or you just take that setup, regardless of what the HTFs are saying, because you have complete faith in your PP system?
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