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Trading is as simple as ABCD

  • #10,541
  • Aug 29, 2016 5:04pm Aug 29, 2016 5:04pm
On GU would expect a re test of 1.286 if break 1.300 firm support. we have 4 lower value days, 5th day normally accumulates and in this case potentially close the week higher above 1.3250 Areas to watch ! potential gap and fade back to 1.3060 for bullish interest. break 1.3020 bears in control
Attached Image (click to enlarge)
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  • #10,542
  • Aug 29, 2016 5:12pm Aug 29, 2016 5:12pm
Quoting Dennis1468
On GU would expect a re test of 1.286 if break 1.300 firm support. we have 4 lower value days, 5th day normally accumulates and in this case potentially close the week higher above 1.3250 Areas to watch ! potential gap and fade back to 1.3060 for bullish interest. break 1.3020 bears in control {image}
Thanks for your prompt reply, I will study with interest
  • #10,543
  • Aug 30, 2016 2:13am Aug 30, 2016 2:13am
Quoting Dennis1468
On GU would expect a re test of 1.286 if break 1.300 firm support. we have 4 lower value days, 5th day normally accumulates and in this case potentially close the week higher above 1.3250 Areas to watch ! potential gap and fade back to 1.3060 for bullish interest. break 1.3020 bears in control {image}

That was your fade back completed to 1.3060 just now completed
  • #10,544
  • Aug 30, 2016 2:24am Aug 30, 2016 2:24am
Quoting Dennis1468
On the EU on Friday I decided not to trade the break out but instead target the stops against trend {image}
theres are continuation, maybe subdued at 103 on UJ as NFP jitters end of week should keep us under 103 /103 50 until friday
  • #10,545
  • Aug 30, 2016 2:57am Aug 30, 2016 2:57am
Quoting Dennis1468
On GU would expect a re test of 1.286 if break 1.300 firm support. we have 4 lower value days, 5th day normally accumulates and in this case potentially close the week higher above 1.3250 Areas to watch ! potential gap and fade back to 1.3060 for bullish interest. break 1.3020 bears in control {image}
So what are your settings for the band around Pivot ?
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  • #10,546
  • Aug 30, 2016 3:47am Aug 30, 2016 3:47am
RED dotted line, Weekly Pivot
Black line, Daily Pivot
Green line, +/- 20pip band
Look to Buy when Daily Pivots rising and above Weekly Pivots using Band as entry and exits, opposite for sells
Dennis 1468 am I getting there ? can add a few more thing but trying to show a clean chart, its something I have played with before but not as in depth as you
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  • #10,547
  • Aug 30, 2016 4:08am Aug 30, 2016 4:08am
You have taken this a lot further than I did, cannot see any problem trading like this, looking forward to your posts, here is a chart with todays Pivot levels on, I am watching with interest
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  • #10,548
  • Aug 30, 2016 5:32am Aug 30, 2016 5:32am
Hi Dave,

I can see that your using maybe MT4 or something similar so its always going to be limited on how you chart. I have a Java based charting software which is flexible. I will be more descriptive later on by posting chart with captions. For now my basic set up is as follows:

All are Floor pivots which consist of:

Monthly Pivot points with Medium , Weekly pivot points and Daily pivot points or reflective of S3 to R3. Now when you look back on historical days you can see the central daily pp on each day in History surrounded by 2 orange lines. Thats my gauge to work out what type of a trading day is ahead of us. Theres a chart posted that shows the relationships. How to use that will be detailed later on. Another very important perspective to my technical s is the markets opening range which I will post some stuff later on.

What I will do is post a chart later on labeling what all the stuff is. I will also post my rules on fundamentals which ties everything in.
  • #10,549
  • Aug 30, 2016 5:46am Aug 30, 2016 5:46am
Quoting OAPDave
RED dotted line, Weekly Pivot Black line, Daily Pivot Green line, +/- 20pip band Look to Buy when Daily Pivots rising and above Weekly Pivots using Band as entry and exits, opposite for sells Dennis 1468 am I getting there ? can add a few more thing but trying to show a clean chart, its something I have played with before but not as in depth as you {image}
Will send the code later on, i have it on another laptop
  • #10,550
  • Aug 30, 2016 5:49am Aug 30, 2016 5:49am
Quoting Pipglutton
Hi Dave. I am throwing in the towel. I can't do this. I have tried my level best for the last 14 years and just cannot seem to get this right. Obviously not for me. Have to find a job somewhere.....
Here is that trade we spotted yesterday, showing you the 60min with a Murrey 64 and a 1min with a Murrey 1024, on the 1 min see how you could take little bites out of it with a very small risk/stop
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  • #10,551
  • Aug 30, 2016 6:09am Aug 30, 2016 6:09am
Quoting Pipglutton
Hi Dave. I am throwing in the towel. I can't do this. I have tried my level best for the last 14 years and just cannot seem to get this right. Obviously not for me. Have to find a job somewhere.....

Your complicating your trading to much and not letting the market work for you. Reduce your leverage, and reduce your screen time. Set your market order set your TP and let the market do the work. Traders that fail spend to much time watching the charts and to much time trying to fix something that is not broken. Let the trade run and dont fiddle.

1 - Basic Analyses - do fundamentals support long or short
2 - If short then dont look for longs even when market is going long. If fundes support Short then wait for the technical s to sing the same tune.
3 - Dont fiddle with your trade once your in. Because to be in you should have a good reason to be in. Let your trade run and dont sit there watching it.
4 - Keep leverage low so you can wrong but right later on! if you know what I mean
  • #10,552
  • Aug 30, 2016 7:14am Aug 30, 2016 7:14am
Quoting OAPDave
{quote} Thanks for your prompt reply, I will study with interest
Quoting Dennis1468
On GU would expect a re test of 1.286 if break 1.300 firm support. we have 4 lower value days, 5th day normally accumulates and in this case potentially close the week higher above 1.3250 Areas to watch ! potential gap and fade back to 1.3060 for bullish interest. break 1.3020 bears in control {image}

That was your fade back completed to 1.3060 just now completed,

From 1.3060 Now we in the 1.3170 , traders be a bit nerved here but we should break through as certainly e 1.3060 water mark was of much interest (Value) for the big funds. 1.327 medium term on this entry
  • #10,553
  • Aug 30, 2016 7:34am Aug 30, 2016 7:34am
Quoting Dennis1468
{quote} Quoting Dennis1468 On GU would expect a re test of 1.286 if break 1.300 firm support. we have 4 lower value days, 5th day normally accumulates and in this case potentially close the week higher above 1.3250 Areas to watch ! potential gap and fade back to 1.3060 for bullish interest. break 1.3020 bears in control {image} That was your fade back completed to 1.3060 just now completed, From 1.3060 Now we in the 1.3170 , traders be a bit nerved here but we should break...
Thanks, stick around good posts, your 1.3170 ties in with my 4/8ths, good stuff keep the posts coming soon get your own thread it this rate
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  • #10,554
  • Aug 30, 2016 7:54am Aug 30, 2016 7:54am
Thanks my pleasure to share, we maybe a bit muted untill tonights Consumer confidence pumps in some additional liquide
CB Consumer Confidence
  • #10,555
  • Aug 30, 2016 8:57am Aug 30, 2016 8:57am
Quoting Pipglutton
Hi Dave. I am throwing in the towel. I can't do this. I have tried my level best for the last 14 years and just cannot seem to get this right. Obviously not for me. Have to find a job somewhere.....
JUST for you !!!!
Attached Image (click to enlarge)
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  • #10,556
  • Aug 30, 2016 9:01am Aug 30, 2016 9:01am
[quote=Dennis1468;9108889]{quote} Your complicating your trading to much and not letting the market work for you. Reduce your leverage, and reduce your screen time.

Hi Dennis.
You should have become a shrink! You hit the nail on the head.
There are more guys on this thread that would gladly donate a kidney to know exactly how your system works.
When you have the time, please explain to us blockheads in proper English how this works. More specifically how to determine your point of entry....

Kind rgds

Pieter
  • #10,557
  • Aug 30, 2016 10:32am Aug 30, 2016 10:32am
[quote=Pipglutton;9109357]
Quoting Dennis1468
{quote} Your complicating your trading to much and not letting the market work for you. Reduce your leverage, and reduce your screen time. Hi Dennis. You should have become a shrink! You hit the nail on the head. There are more guys on this thread that would gladly donate a kidney to know exactly how your system works. When you have the time, please explain to us blockheads in proper English how this works. More specifically how to determine your point of entry.... Kind rgds Pieter

Hi we can all do it just needs some right information about understanding markets: Got my continuation on UJ as discussed on previous post. I closed at 103 and will wait for next opportunity to Gap and fade the move. Its always wise to bank on round numbers.
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  • #10,558
  • Aug 30, 2016 10:55am Aug 30, 2016 10:55am
Quoting OAPDave
RED dotted line, Weekly Pivot Black line, Daily Pivot Green line, +/- 20pip band Look to Buy when Daily Pivots rising and above Weekly Pivots using Band as entry and exits, opposite for sells Dennis 1468 am I getting there ? can add a few more thing but trying to show a clean chart, its something I have played with before but not as in depth as you {image}
Here is the Code for the Central pivot indicator
Attached Images
  • #10,559
  • Aug 30, 2016 11:10am Aug 30, 2016 11:10am
This is a description of what i have on a 15 bar chart, reasons why will become apparent later on
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  • #10,560
  • Aug 30, 2016 11:20am Aug 30, 2016 11:20am
Quoting Dennis1468
{quote} Here is the Code for the Central pivot indicator {image} {image}
Seems obvious when you put it like that, cannot see why I did not think about it before, just simple really !!!!!!!
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