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Pivot Trading

  • #1,801
  • Aug 12, 2016 4:44am Aug 12, 2016 4:44am
Hi atraderfx.

No problem will add it to the paperclip. It is called Auto_pivot_weekly_plotter.

To be clear the primary pivot indicator that I use is Davit's Pivot V2. This provide the data and text for each pivot level. The reason I use the Auto pivot plotter indicator is that it keeps the historical pivot levels from prior weeks on the chart. I find this useful, as I track missed weekly pivots and these often provide key levels in the market where price eventually gravitates to.

Also these are weekly not daily, so they only adjust once at the start of each week.
  • #1,802
  • Aug 12, 2016 5:09am Aug 12, 2016 5:09am
Quoting Arjun-LE1
{quote} Still maintaining my Scalping until price shows sign of reversal. {image}
Hi Arjun,

I can see the logic in your AU long (the continued up move in the channel you draw) - however the pair has moved up considerably over the past few days and the fundamentals of AUD are weaker than USD. There has been a grab for yield over the past week or so - even in the light of the rate cut to 1.5% - so we may now be looking at the start of a down leg.

We currently have a missed weekly pivot on AU and there was a significant 4hr pin bar yesterday, where price tried to hit R100 at the 7765 level - but didn't make it and has since reversed.

My advice is watch the price action and assess where it is, both as regards the wave cycle (as Davit illustrated a few posts ago) and where it is in relation to the key pivot levels. It really helps in planning your trades.

Also look back at Page 1 of the this thread;

  1. When price moves to the S/R 61 level, it has a natural tendency to move back to the pivot.
  2. S/R 78 is the last key level that price can retrace quickly. A strong move past S/R 78 and PA usually moves fast to S/R 100.

Check out AU this week;

  1. strong move up to R38 which continued to R61 then straight on to R78.
  2. two attempts at breaking R100 failed and we have since moved down to the zone between R38 and R61.
  3. the weekly pivot has not been traded at this week.
  4. In terms Price action; we had higher highs (HH) and higher lows (HL) through the first part of the week, which has now switched to lower highs (LH) and lower lows (LL).

I look at the weekly pivot in terms of reversion to a mean. If price has moved far away from a weekly pivot and not traded there - at some point it will revert to that level. It may not happen today or next week, but the odds are in favour of it moving there at some point. Over time there are very few missed weekly pivots that remain un-traded.

  • #1,803
  • Aug 12, 2016 5:11am Aug 12, 2016 5:11am
Quoting mch1970
Hi atraderfx. No problem will add it to the paperclip. It is called Auto_pivot_weekly_plotter. To be clear the primary pivot indicator that I use is Davit's Pivot V2. This provide the data and text for each pivot level. The reason I use the Auto pivot plotter indicator is that it keeps the historical pivot levels from prior weeks on the chart. I find this useful, as I track missed weekly pivots and these often provide key levels in the market where price eventually gravitates to. Also these are weekly not daily, so they only adjust once at the start...
Ok clear thanks
  • #1,804
  • Aug 12, 2016 6:28am Aug 12, 2016 6:28am
Quoting mch1970
Hi atraderfx. No problem will add it to the paperclip. It is called Auto_pivot_weekly_plotter. To be clear the primary pivot indicator that I use is Davit's Pivot V2. This provide the data and text for each pivot level. The reason I use the Auto pivot plotter indicator is that it keeps the historical pivot levels from prior weeks on the chart. I find this useful, as I track missed weekly pivots and these often provide key levels in the market where price eventually gravitates to. Also these are weekly not daily, so they only adjust once at the start...
indicator files attached.
Attached File(s)
File Type: ex4 Auto-Pivot_Plotter_Weekly_V2__1.ex4   18 KB | 571 downloads
File Type: mq4 Auto-Pivot_Plotter_Weekly_V2__1.mq4   11 KB | 717 downloads
  • #1,805
  • Aug 12, 2016 8:16am Aug 12, 2016 8:16am
my 2nd trade with pivots this week
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM30.png Size: 57 KB
  • #1,806
  • Edited 12:35pm Aug 12, 2016 10:50am | Edited 12:35pm
Hi Davit & All,

I've been thinking about increase/double the profit using this system, the result is like double edge sword of course..
but if you can manage your profit and loss.. it shouldn't be a problem .

For example:
1. Current condition in AU price is in R78, both PA and TDI is down --> we open SELL.
2. At the same time, the counter pair (exp. UC), price is in S78 --> we open BUY, when PA & TDI crossed up.

By doing this, we increased the profit (if the price is agreed with our prediction) as well as the loss (if the price is run from our prediction).
You have to monitor your SL all the time.

SELL AU
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDfM15.png Size: 38 KB


BUY UC
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADfM15.png Size: 35 KB
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #1,807
  • Aug 12, 2016 11:55am Aug 12, 2016 11:55am
Here's one for you Davit

http://dailypriceaction.com/daily-se...b81d51b2bdb5e4

But here's an article re. rise in coal and Iron Ore prices

http://www.miningweekly.com/article/...met-2016-08-12

Highlights from article;

Newcastle thermal coal, an Asian benchmark, is up more than 30% this year and reached as high as $67.07 a metric ton in the week ended August 5, according to data from Globalcoal. Prices are on track to snap a five-year streak of declines. Metallurgical coal advanced almost 35 percent this year to $105.40, the highest since March 2015, according to data from The Steel Index.

STEEL OUTPUT
China’s increased appetite for imports is a boon for miners from Glencore to BHP Billiton, the world’s biggest shipper of metallurgical coal. They were among companies to shutoperations, halt development projects and cut jobs as falling prices squeezed margins. Chinese steel output reached a record daily volume in June as mills in the world’s top producer boosted supply to take advantage of rebounding prices.
  • #1,808
  • Aug 12, 2016 12:48pm Aug 12, 2016 12:48pm
Euro on EG is so strong until now.. still hope it run out steam soon..
  • #1,809
  • Aug 12, 2016 3:10pm Aug 12, 2016 3:10pm
Closed AU shortsat 7650 8 positions
Probably one of my worst trades.Hated every min of it.
+162pips
In trading, you have to be defensive and aggressive at the same time
  • #1,810
  • Aug 12, 2016 3:12pm Aug 12, 2016 3:12pm
Quoting andy_l
Hi Davit & All, I've been thinking about increase/double the profit using this system, the result is like double edge sword of course.. but if you can manage your profit and loss.. it shouldn't be a problem . For example: 1. Current condition in AU price is in R78, both PA and TDI is down --> we open SELL. 2. At the same time, the counter pair (exp. UC), price is in S78 --> we open BUY, when PA & TDI crossed up. By doing this, we increased the profit (if the price is agreed with our prediction) as well as the loss (if the price is run from our...
UC may drop further. Recent red data on US economy may continue which is why I was glad to get out of AU shorts.
Green pips
In trading, you have to be defensive and aggressive at the same time
  • #1,811
  • Aug 12, 2016 3:13pm Aug 12, 2016 3:13pm
Quoting Blackopal
Here's one for you Davit http://dailypriceaction.com/daily-se...b81d51b2bdb5e4 But here's an article re. rise in coal and Iron Ore prices http://www.miningweekly.com/article/...met-2016-08-12 Highlights from article; Newcastle thermal coal, an Asian benchmark, is up more than 30% this year and reached as high...
Thanks for the articles will certainly read them
In trading, you have to be defensive and aggressive at the same time
  • #1,812
  • Aug 12, 2016 3:18pm Aug 12, 2016 3:18pm
Quoting Arjun-LE1
Hi All, I am a newbie. Trying out this system for scalping. EDIT : here's my chart {image}
This system is not design for scalping.Just saying
In order to profit from this you must change how you see price.Until then good luck
In trading, you have to be defensive and aggressive at the same time
  • #1,813
  • Aug 12, 2016 11:41pm Aug 12, 2016 11:41pm
anyone here still holding EG short? im thinking about to manually cut loss if monday price still moving up.. im draining..

also i fall asleep last night no i have no clue about my AU short.. i hope it will hit my TP,
  • #1,814
  • Aug 13, 2016 12:22am Aug 13, 2016 12:22am
Quoting dnl
anyone here still holding EG short? im thinking about to manually cut loss if monday price still moving up.. im draining.. also i fall asleep last night no i have no clue about my AU short.. i hope it will hit my TP,
EG will probably form divergence on daily TF next week. If this happens, it may trigger a substantial downward move. My advice for you is to hang on a while, and at least manually cut your loss when price move down to pivot next week. Watching price action is key. Goodluck
  • #1,815
  • Aug 13, 2016 1:24am Aug 13, 2016 1:24am
Quoting ayoayo
{quote} EG will probably form divergence on daily TF next week. If this happens, it may trigger a substantial downward move. My advice for you is to hang on a while, and at least manually cut your loss when price move down to pivot next week. Watching price action is key. Goodluck

thanks for the info buddy..

anybody here or maybe Davit can talk about missed weekly pivot? i mean like this EG pair, next week the weekly pivot will drag up from this week pivot because this week the price move all the way up. so how to trade weekly pivot with this situation?

thanks
  • #1,816
  • Aug 13, 2016 2:09am Aug 13, 2016 2:09am
Quoting dnl
{quote} thanks for the info buddy.. anybody here or maybe Davit can talk about missed weekly pivot? i mean like this EG pair, next week the weekly pivot will drag up from this week pivot because this week the price move all the way up. so how to trade weekly pivot with this situation? thanks

Hey dnl

With all due respect to ayoayo mate, weigh advice from anyone here carefully. No one knows for sure what will happen to a price 15 minutes from now, let alone next week. There are definitely people on this site who have greater skill at deciphering price action signals than most of the rest of us, but in the end, it is your money on the line, and you must have your own strategy for protecting your equity in place. Only you know what you can afford to risk on a losing trade. Ayoayo no doubt means well by giving you his advice, but you can't tell by his one time only post if he has the skills or the proven history to justify giving advice. One of the advantages of being member of this web site is that over time you start to track trades and posts from other posters, and you will recognize those who seem to have success, and those who blow hot air and display empty egos. The pound is in danger of dipping further to touch brexit lows. If it does, on the first touch, it is likely to bounce, but who knows for sure? Davit is one of the posters on FF who I believe deserves to be respected. Seek his response to your post.
  • #1,817
  • Aug 13, 2016 6:56am Aug 13, 2016 6:56am
Quoting dnl
anyone here still holding EG short? im thinking about to manually cut loss if monday price still moving up.. im draining.. also i fall asleep last night no i have no clue about my AU short.. i hope it will hit my TP,
Hi DNL
Personally my SL is not hit yet and should be necessary I can cut 25% of the position.Since beginning of the year I have taken good chunks of losses its unavoidable.As Blackopal said only you know your account size vs position and leverage.Be prepared mentally that you could take a loss.
Beyond this warning is on my 1st page.This is advance trading.Which means guys who trade responsibility ,control their greed,have trading plan,have goal.
Try reducing your leverage.As far as the chart dble top and chance of drop great.
Good luck
In trading, you have to be defensive and aggressive at the same time
  • #1,818
  • Aug 13, 2016 9:04am Aug 13, 2016 9:04am
Quoting dnl
{quote} thanks for the info buddy.. anybody here or maybe Davit can talk about missed weekly pivot? i mean like this EG pair, next week the weekly pivot will drag up from this week pivot because this week the price move all the way up. so how to trade weekly pivot with this situation? thanks
yes I am holding EG , last week Pivot missed mean coming week very high probability to touch new Pivot. ?

Thanks
  • #1,819
  • Aug 13, 2016 10:25am Aug 13, 2016 10:25am
Quoting Davit
{quote} UC may drop further. Recent red data on US economy may continue which is why I was glad to get out of AU shorts. Green pips
Dear Davit..

Noted and thanks for your info..
basically I traded based on the technical, now need to consider about the fundamental as well..
since fundamental is the one move the market.. (like AU pair last week). I thought we have to cut loss manually, once the trends is against us (just my experience and thought)..
Trading need to combined all factors... pheew
Combination of Edge, Pivot Zone, ADR and magic of PA is A+ Probability
  • #1,820
  • Aug 13, 2016 10:34am Aug 13, 2016 10:34am
Quoting dnl
anyone here still holding EG short? im thinking about to manually cut loss if monday price still moving up.. im draining.. also i fall asleep last night no i have no clue about my AU short.. i hope it will hit my TP,

I have multiple EG short positions with high leverage... I'm hoping it will go down soon else I'll have to cut my positions and accept loss.

I didn't see why GBP drop way faster than EU... But looking at strong support on 1.2910 GU ... Hopefully it will hold ... But EU could drop to 1.1140 anytime
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