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Attachments: Pivot Trading
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Pivot Trading

Quoting Davit
Will short NC at 38S at 9290 should it get there but I won't buy NC since I prefer being on correct side to fundamentals {image}
Quoting mch1970
{quote} Hi Cheng, Pivots are levels that change each week. This weeks UJ pivot around 101.20 was hit early on Monday and has, as you mention, displayed strong upward momentum all week and currently sits in between the R161 and R200 levels. Given today is Friday, you can start to think about next weeks pivot level, which will come in somewhere around the 104.25 area - (give or take depending on today's close). So the question is not will price action return to today's pivot, but to think about how price might move lower to trade at next...
Hi Mch1970, I think this is a great post, I just had an "aha"! moment myself a couple of days ago, and it was exactly the point you made above in red.
Quoting Nostromo
{quote} Hey Davit, really sorry to hear about your job, am seeing a lot of people being let go where I am also. I had a frustrating time on this same AUD/USD trade, I posted this when it was in progress a few days ago, but since then it went through two big pullbacks at night or when I was at work, after almost 3 days I finally decided it had started a mini-trend, so when it started pulling back from finally breaking through the diagonal trendline I gave up and took the pips. Seemed like AUD was never coming down. Of course, look at it now ... but...
Yes I am still working on my unemployment benefits.So much red tape and nobody answers phones and only 1 office in Boston with 300 people on the line...
just bad.Anyway trying to stay positive in light of I am happy accident on this planet out of billions of stars and galaxies.
Worth mentioning that I am an artist and still paint and do follow what's going on in ART world.
Here is something very interesting.
British artist deciding to destroy everything he owned in his life....
http://www.bbc.com/culture/story/201...his-belongings

That takes BALLS
During the course of two weeks, every single one – clothes, love letters, artworks, his Saab 900 Turbo car, even his father’s sheepskin coat – was stripped, shredded, crushed, dismantled, or otherwise destroyed by Landy and his team of 12 assistants, while listening to David Bowie and Joy Division. When they had finished, the artist owned nothing at all, apart from the blue boiler suit he had been wearing throughout. He called the project Break Down.

Talk about Zen letting things go.Kind of relates to trading when taking a loss.Don't get emotional let go there is another trade on the corner.

On AU I am just patiently waiting until sentiment shifts to real bear on this.
In trading, you have to be defensive and aggressive at the same time
Please can Someone tell me how to post a chart? Thanks
Quoting ralfy
Please can Someone tell me how to post a chart? Thanks
you will no longer be able to post here.You are wasting people time.You know there is google for most mundane questions and ff basic user guide.
If you must ask that then trading is 1000X tougher.
I highly suggest you visit babypips.com and enroll free school and graduate.Trust me it will help you a lot.
In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} Yes I am still working on my unemployment benefits.So much red tape and nobody answers phones and only 1 office in Boston with 300 people on the line... just bad.Anyway trying to stay positive in light of I am happy accident on this planet out of billions of stars and galaxies. Worth mentioning that I am an artist and still paint and do follow what's going on in ART world. Here is something very interesting. British artist deciding to destroy everything he owned in his life.... http://www.bbc.com/culture/story/201...his-belongings...
I am English and I remember this when this artist did it, it was in the newspapers. (I also used to listen to Joy Division as a student )
Quoting Davit
was patiently waiting for AU breakdown and I hope it continues since there is ton of buyers for this pair after Brexist 75 would be nice previous swing was limited to 38R at 7576 so I anticipate a tough fight there between bulls and bears.Go USD {image}
With you and mch on this one..

One of the few pairs that the Indi works fairly well with. (Abiding the rules )

Cheers & Happy Weekends.
MR
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Silence your Ego & Your Power will Rise
Quoting bulent
Hello NZD/CAD 30 M Chart 0.9208 long big divg. will be go up ı hope green pips
Hello
ı am sorry for late NZD CAD chart 30 m big divg 0.9208 buy
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NZD CAD Same chart but difrent divg. but still buy.
Thanks Davit
Have a nice weekend
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Quoting bulent
NZD CAD Same chart but difrent divg. but still buy. Thanks Davit Have a nice weekend {image}
Welcome!Nice to have you here and appreciate you using my template.Makes things easier to see

Here is one of my artworks I did recently on series called birds
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In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} Welcome!Nice to have you here and appreciate you using my template.Makes things easier to see Here is one of my artworks I did recently on series called birds {image} {image}
Awesome......
Quoting Davit
was patiently waiting for AU breakdown and I hope it continues since there is ton of buyers for this pair after Brexist 75 would be nice previous swing was limited to 38R at 7576 so I anticipate a tough fight there between bulls and bears.Go USD {image}
Hi Davit. Pair nearly always has high correlation with SPX so will be interesting to see where we go next week. I think we will see lower as well shortly and is looking like nice entry. Sorry to hear about your job mate, hope all is ok.
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Quoting Davit
{quote} Welcome!Nice to have you here and appreciate you using my template.Makes things easier to see Here is one of my artworks I did recently on series called birds {image} {image}
Nice paintings Davit. Do you sell through a gallery?
  • Post #1,254
  • Quote
  • Edited Jul 16, 2016 3:41am Jul 15, 2016 7:47pm | Edited Jul 16, 2016 3:41am
Quoting ralfy
Please can Someone tell me how to post a chart? Thanks

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Hi Ralfy

I hope you can see this post & I like to explain my thought process for trade set up selection using Davit's pivot method.

1) Check the News
2) Draw wave on the chart like 1,2,3,4
3) Identify S/R ( support/Resistance )
4) Check the Pivot area
5) candle formation
6) pattern & fib

As you can see, after big wave1, there are wave2 then wave3 which almost near pivot level.
If you look left, there are two previous resistances at pivot area before it broke out high. Since my buy price is under that, they act as resistances with pivot.
So we have two things ( price is under resistance and under critical pivot level)
In addition to that, wave3 is fib 61.8 % level against wave2 which is critical fib ratio for correction ( you could find Scott Carney's book or babypips site about this )
Now we have three things are in our favour.
Next, Look at last three candles formation, bearish shooting star, bearish inverted hammer & bit of consolidation, Inside bar break out (Price Action) Those are signal to me saying that "I am going down now"
Finally, we have Four things are line up with our favour. So I pulled the trigger.

For the exit, I look left for S/R or fib level to calculate my exit. During the day ( In Asian session ), the liquidity is low, so I aim around 20 pips during this session. With London or New York session, I aim for 40-50 pips.

It's good to have TDI cross but TDI is lagging indicator. So if there is setup on 1HOUR TF, I have look 15min TF to check what is going on. ( MTF )

I hope this can help little bit for your future trading journey.

Again this is only my trading style.

Have a great weekend !!!!!
Evening Inforserve,

Your input is certainly appreciated as we all learn at different paces. It is not uncommon for one person to say the same thing as another, but with different words and sentence structure that makes it an "ah ha" moment. The fact you are using Davit's template is also a huge plus.

Thanks again for helping us that may not be grasping Davit's presentation as fast as others,
TX

P.S. Thank you Davit for unselfishly sharing your knowledge and approach to trading in a difficult environment.
Quoting mch1970
{quote} Be careful going long NC - NZD fundamentals are weak at moment. There may be a pop up to S61 or S38 (and potentially we hit next weeks pivot from where price will retrace?)- but would be thinking about being short NZD at moment based on fundamentals. Look at the daily NC chart. We've just moved past the 38.2 fib retracement from recent low to recent high. There could be more downside in NC - also note that Canada kept rates on hold this week, whilst NZD may well have to cut rates. Have the fundamentals in mind when you think of set-ups...

Quoting Davit
{quote} Sentiment is shifting to more positive on USD after great unemployment numbers.USD will only get stronger after this junction.There is also talk about RBA cutting rates again. Fundamentally buying USD makes sense.

Hi mch1970 and Davit,

Would it be possible for you guys to kindly recommend some websites you are looking at, to check the currency news and its sentiment? I am not a native english speaker so not very familiar with the popular website to look at news.

I think news on FF calendar is far from enough. Take the NZD for example, last 2 weeks I only see <5 yellow news about NZD.

Thank you.
Quoting inforserve
{quote} {image} Hi Ralfy I hope you can see this post & I like to explain my thought process for trade set up selection using Davit's pivot method. 1) Check the News 2) Draw wave on the chart like 1,2,3,4 3) Identify S/R ( support/Resistance ) 4) Check the Pivot area 5) candle formation 6) pattern & fib As you can see, after big wave1, there are wave2 then wave3 which almost near pivot level. If you look left, there are two previous resistances at pivot area before it broke out high. Since my buy price is under that, they act as resistances with...
Very nice informative post.Just little observation Default TDI is slightly lagging but my settings are faster and that's why I prefer people using my template.
To simplify Watch price close to pivots for reaction and follow PA. What is PA? lots of videos on youtube about this.
Most important price is like rubber band further it stretches away from WP higher probability for correction.This is very critical.
cheers
In trading, you have to be defensive and aggressive at the same time
Quoting antonym
{quote} {quote} Hi mch1970 and Davit, Would it be possible for you guys to kindly recommend some websites you are looking at, to check the currency news and its sentiment? I am not a native english speaker so not very familiar with the popular website to look at news. I think news on FF calendar is far from enough. Take the NZD for example, last 2 weeks I only see <5 yellow news about NZD. Thank you.
Best thing to do and most times what I do daily is this.
type in google "Aussie dollar news" (sub any dollar name)and you'll find at least 5 quality links
Its important to understand the difference of opinions of reporters vs official statements.Opinion does not mean policy change from a reporter but bank official making a statement is big.Overall you can gauge the sentiment by educating yourself state of affairs.
Wanted to add when trading pairs specially USD based its important to understand USD side to it as well.AU for example may depreciate simply because US economy is picking up again.This has an effect cross all majors.
regards
In trading, you have to be defensive and aggressive at the same time
Quoting squawk
{quote} Hi Davit. Pair nearly always has high correlation with SPX so will be interesting to see where we go next week. I think we will see lower as well shortly and is looking like nice entry. Sorry to hear about your job mate, hope all is ok. {image}
Hy buddy
Nice to have you post here.Your inputs are appreciated.Will look into SPX and thanks for the tip.Well I am glad my wife works...not worried will find something soon.Thanks for concern

As far as my ART I sell privately majority of times because galleries take 50-60% which to me is staggering.I do lots of figurative works and just recently started experimenting with animals.
Regards
In trading, you have to be defensive and aggressive at the same time
I had way too many trades going so did not take AN longs but regret highly.It was a fantastic set up.Not sure if we will see those bottoms again any time soon considering Rate cut looming on NZD in August.
Still slightly pissed at myself.
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In trading, you have to be defensive and aggressive at the same time
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