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Pivot Trading

  • #2,181
  • Aug 31, 2016 10:51am Aug 31, 2016 10:51am
Quoting Tx15
{quote} Morning Arjun, That was an unbelievable trade. What convinced you that the breakout would be to the upside to stack that many buy positions on the dips? PA could have closed below S38 and moved down (I did take note of the large bull candle). You and Davit seem to have an uncanny ability to make these decisions, and that amazes me. Thanks for any input, TX
Hi,

Use 240M Chart to set up and looking for trade. Attached 240M Chart to show my trade set up for the last trade (tonight - Local time)

I will post 60 minutes chart to compare those two time frames. ( Later)
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.png Size: 34 KB
Let all the living things live blissfully
  • #2,182
  • Aug 31, 2016 10:58am Aug 31, 2016 10:58am
Quoting Arjun-LE1
{quote} Hi, Use 240M Chart to set up and looking for trade. Attached 240M Chart to show my trade set up for the last trade (tonight - Local time) I will post 60 minutes chart to compare those two time frames. ( Later) {image}

Now the 60mins chart. Look at those two conflicting candles. Not an ideal set up.
Attached Image (click to enlarge)
Click to Enlarge Name: 60_mins.png Size: 62 KB
Let all the living things live blissfully
  • #2,183
  • Aug 31, 2016 11:07am Aug 31, 2016 11:07am
Quoting Arjun-LE1
{quote} Now the 60mins chart. Look at those two conflicting candles. Not an ideal set up. {image}
Thank you Arjun for being patient with me, and sharing your logical approach to making decisions. I do understand what you have said, but will go over it several times, and make additional notes for future reference. I will try and not make a nuisance of myself, as I know you and Davit are busy trading, and trying to answer questions will only break your concentration.

I sincerely appreciate your time and sharing,
TX
  • #2,184
  • Aug 31, 2016 11:29am Aug 31, 2016 11:29am
Quoting Tx15
{quote} Thank you Arjun for being patient with me, and sharing your logical approach to making decisions. I do understand what you have said, but will go over it several times, and make additional notes for future reference. I will try and not make a nuisance of myself, as I know you and Davit are busy trading, and trying to answer questions will only break your concentration. I sincerely appreciate your time and sharing, TX
No problem at all. The more I share with others, on how i trade, the more pips I made ( lol).

Seriously.... The more I understand how to read chart effectively.

Now I looking to get out of the trade.

Using 240M Chart, I m looking for previous support now will become resistance.

Hope I'm correct on that exit point.. Here's the chart
Attached Image (click to enlarge)
Click to Enlarge Name: GU_Long_003.png Size: 51 KB
Let all the living things live blissfully
  • #2,185
  • Aug 31, 2016 11:48am Aug 31, 2016 11:48am
Quoting Arjun-LE1
{quote} No problem at all. The more I share with others, on how i trade, the more pips I made ( lol). Seriously.... The more I understand how to read chart effectively. Now I looking to get out of the trade. Using 60M Chart, I m looking for previous support now will become resistance. Hope I'm correct on that exit point.. Here's the chart P/S - I don't teach other how to trade, I only Share the way I trade. {image}
Thanks again. I notice there were about three bounces off the S38 area that included three nice bull candles showing HLs. Why did you choose to place your buy trades at higher levels rather than at the dips?
  • #2,186
  • Aug 31, 2016 1:43pm Aug 31, 2016 1:43pm
Hi Davit and Arjun-LE1.

I have been following your trading very closely. I would like you to post some pics on how you would deal with when price instead of reversing at R78, shoots up and crosses the R 100 mark. What would your trading strategy be? How do you deal with drawdown when you have many positions open say at R78 and price continues and goes across R100 levels. In todays case, both GBPJPY AND NZDJPY crossed over the R100 levels. Please post some pics along with detailed explanation to enable me to understand how you deal with such situations and handle the drawdown.

Is it wise to say take a short position at R61 and place stoploss at R78 ? Would this be feasible and work in favor of the trades that we have gone short at R61 ? Or is this stop loss too high and not correct?? In normal situations when you take a trade, ( not stacking of orders but say just one or two ) what is the ideal reasonable stop loss according to you and which you would suggest when we take few normal trades without too much stacking . This question I am specifically asking because being a new trader, I would just like to go for one or max two orders...

Awaiting your reply and pics and explanations.

Thanks
  • #2,187
  • Aug 31, 2016 2:07pm Aug 31, 2016 2:07pm
Quoting Davit
{quote} That's a good question which I answered on my 1st post Before you understand this firmly please read my 1st post.I talk about location. Price moves in waves look up Elliot Wave theory.Irregardless whether you trade EW or not price does not go straight up or down. I trade swings and they are swings on Down trend and uptrend.For me its all about the swing. Trend can change 100+pips in 4 hours opposite of previous 4 hrs and same on daily.Important to understand is where most turns likely to occur with the help of pivots and with TDI as confirmation...
Hi Davit,

This is my second read through your thread. I normally scan during the first read, and on the second I begin to study and attempt to comprehend that which is being shared. This particular response you made early on in your thread is extremely important to your trading methodology. I have truly made honest attempts to take into account PA at the higher TFs, but to no avail (at least not on a continuum, as I become confused). Essentially, you trade what you see on the current TF your trading. You may drop down a TF for possibly a better entry, but finish out the trade on the original TF your trading. I know that you trade a faster TDI than the original settings, but not sure how far into the thread where you make that statement. I will eventually come to it on this second read, but since my second read is considerably slower than the first, do you have some type of system set up where you can direct me so I can implement your TDI settings?

Thank you for this thread and knowledge share,
TX
  • #2,188
  • Aug 31, 2016 2:41pm Aug 31, 2016 2:41pm
Quoting Arjun-LE1
{quote} No problem at all. The more I share with others, on how i trade, the more pips I made ( lol). Seriously.... The more I understand how to read chart effectively. Now I looking to get out of the trade. Using 60M Chart, I m looking for previous support now will become resistance. Hope I'm correct on that exit point.. Here's the chart P/S - I don't teach other how to trade, I only Share the way I trade. {image}
1st of all I like to thank you sincerely for your contribution here.The reason I started this thread is to share what I do and attract talented traders creating synergy
Great trading
In trading, you have to be defensive and aggressive at the same time
  • #2,189
  • Aug 31, 2016 2:50pm Aug 31, 2016 2:50pm
Quoting DemandSupply
Hi Davit and Arjun-LE1. I have been following your trading very closely. I would like you to post some pics on how you would deal with when price instead of reversing at R78, shoots up and crosses the R 100 mark. What would your trading strategy be? How do you deal with drawdown when you have many positions open say at R78 and price continues and goes across R100 levels. In todays case, both GBPJPY AND NZDJPY crossed over the R100 levels. Please post some pics along with detailed explanation to enable me to understand how you deal with such situations...
Before you go too deep understand the idea of probabilities.My system has great probability in terms of adds stack in your favor when you take trades in key zones.So what does this mean.It means you buy or sell in 61-100 zones 10times you will have more then 7 winners.You will have some losers and that's normal to any system.Honest way is to recognize you were wrong and get out.
You noticed I deliberately tried to trade pairs that are not hyper less then 130pips ADR.Mistakes made on EG 55pip ADR last 20 days is minor compare to GJ 200+Pips ADR.You understand that this is critical.I would not recommend anyone trading hyper crosses unless you have minimum 5yrs of experience trading currencies.So sticking with majors and slow pairs you can increase your adds substantially and that's the edge the probability factor.
I also mentioned on my 1st post this is advance trading and not ideal for new traders
In trading, you have to be defensive and aggressive at the same time
  • #2,190
  • Aug 31, 2016 3:00pm Aug 31, 2016 3:00pm
Quoting Tx15
{quote} Hi Davit, This is my second read through your thread. I normally scan during the first read, and on the second I begin to study and attempt to comprehend that which is being shared. This particular response you made early on in your thread is extremely important to your trading methodology. I have truly made honest attempts to take into account PA at the higher TFs, but to no avail (at least not on a continuum, as I become confused). Essentially, you trade what you see on the current TF your trading. You may drop down a TF for possibly a...
My TDI settings is on my template and furthermore its only a reference tool meaning my trades are actually based on price action.(see videos I posted on that)
Just because price is at 100R or above does not automatically mean one should short or long.
Here is NJ chart.Notice higher high candles 30min 1hr h4 all green going up.I would not short this until price makes lower low and TDI turns south.So right now we wait
This system is simple and same time requires patience.Practice price action reading.Understand what rejection candles are and so on.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYM30.png Size: 36 KB
In trading, you have to be defensive and aggressive at the same time
  • #2,191
  • Aug 31, 2016 3:04pm Aug 31, 2016 3:04pm
Quoting Davit
{quote} Before you go too deep understand the idea of probabilities.My system has great probability in terms of adds stack in your favor when you take trades in key zones.So what does this mean.It means you buy or sell in 61-100 zones 10times you will have more then 7 winners.You will have some losers and that's normal to any system.Honest way is to recognize you were wrong and get out. You noticed I deliberately tried to trade pairs that are not hyper less then 130pips ADR.Mistakes made on EG 55pip ADR last 20 days is minor compare to GJ 200+Pips...
Thanks Davit,

Another nugget of pure gold. There is always an explanation to explain how your synapsis fire.

TX
  • #2,192
  • Aug 31, 2016 3:09pm Aug 31, 2016 3:09pm
Quoting Tx15
{quote} Thanks Davit, Another nugget of pure gold. There is always an explanation to explain how your synapsis fire. TX
You welcome man.Try reading "Trading in the zone" by Mark Douglas specially the part about probabilities.Most people specially here at FF are not keen what that means.Everyone wants bullet proof no loss system and that's just not realistic.What is realistic is understand what winning edge is.Read the book its a gem
There are lots of videos on youtube when Mark talks about probabilities
This is the heart of trading,We are trading on assumptions of future price and my system provides the edge.One only needs to work on patience and psychology.
regards

from life example look at NC now.Great opertunity to short....price is below 78R rejected going further up and vast space for correction.That's your edge right there!
In trading, you have to be defensive and aggressive at the same time
  • #2,193
  • Aug 31, 2016 3:11pm Aug 31, 2016 3:11pm
Quoting Davit
{quote} My TDI settings is on my template and furthermore its only a reference tool meaning my trades are actually based on price action.(see videos I posted on that) Just because price is at 100R or above does not automatically mean one should short or long. Here is NJ chart.Notice higher high candles 30min 1hr h4 all green going up.I would not short this until price makes lower low and TDI turns south.So right now we wait This system is simple and same time requires patience.Practice price action reading.Understand what rejection candles are and...
Thanks for such a quick response,
TX

P.S. I have been around much longer than most on this thread. I've discovered that longevity is a combination of maintaining an active mind, body, and healthy diet. Dark, red, wines are not excluded.
  • #2,194
  • Aug 31, 2016 3:17pm Aug 31, 2016 3:17pm
Quoting Arjun-LE1
{quote} Now the 60mins chart. Look at those two conflicting candles. Not an ideal set up. {image}
also want to add conflicting signals were due to NFP and news trading can be challenging

I can tell Arjun has lots of experience and I can almost read his mind.I often also exit when the move expires wait for correction then reload.
Wanted also to add that when we see a pattern like GU its obviously ranging 38R -38S so seeing that it makes sense to get out when trade gets closer to 38R
Range aspect is very common in forex actually roughly only 30% of pairs trend.Most range.

I can't wait until NZD bubble bursts.So over appreciated cross the board.
In trading, you have to be defensive and aggressive at the same time
  • #2,195
  • Aug 31, 2016 3:26pm Aug 31, 2016 3:26pm
One of my favorite pairs is EC
notice clear rejection here and dbl tops.Have not pulled the trigger yet but its showing exhaustion
This could drop to 38S and range
Attached Image (click to enlarge)
Click to Enlarge Name: EURCADH4.png Size: 42 KB
In trading, you have to be defensive and aggressive at the same time
  • #2,196
  • Aug 31, 2016 3:32pm Aug 31, 2016 3:32pm
Quoting mraam
{quote} Very Nice... One of my all timers SOAD https://www.youtube.com/watch?v=iywaBOMvYLI
Very weird you posted this band.Its my all time favorite band.Saw them in concert and know the guys.They are all Armenian Americans like me.
Extremely prolific band that inspired army of bands.
Serj Tankian is a genius.His solo albums are brilliant.Too many songs to pick but I love this one actually his father painting.
Inserted Video


regards
In trading, you have to be defensive and aggressive at the same time
  • #2,197
  • Aug 31, 2016 6:14pm Aug 31, 2016 6:14pm
Quoting Davit
One of my favorite pairs is EC notice clear rejection here and dbl tops.Have not pulled the trigger yet but its showing exhaustion This could drop to 38S and range {image}
Davit,

I understand the exhaustion candle and what the pin bar is telling us at the R38. It will be less than 2 hours before the H4 closes. Will you begin entering your positions on the H4, or drop down to the H1 or 30 minute TF?

Thanks,
TX
  • #2,198
  • Aug 31, 2016 6:49pm Aug 31, 2016 6:49pm
Quoting Davit
{quote} Very weird you posted this band.Its my all time favorite band.Saw them in concert and know the guys.They are all Armenian Americans like me. Extremely prolific band that inspired army of bands. Serj Tankian is a genius.His solo albums are brilliant.Too many songs to pick but I love this one actually his father painting. https://www.youtube.com/watch?v=UXeq0gaxDIM regards
Haha.. wow.. how weird is that. They deserve more accolades for their music. Its addictive and make you listen over & over. Sort of new levels each time you listen, everyone who likes metal will headbang for sure when they listen to SOAD.

My trade for the day, (40+)

Cheers
MR
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH1 10916.png Size: 20 KB
Silence your Ego & Your Power will Rise
  • #2,199
  • Aug 31, 2016 11:10pm Aug 31, 2016 11:10pm
Quoting Arjun-LE1
{quote} No problem at all. The more I share with others, on how i trade, the more pips I made ( lol). Seriously.... The more I understand how to read chart effectively. Now I looking to get out of the trade. Using 240M Chart, I m looking for previous support now will become resistance. Hope I'm correct on that exit point.. Here's the chart {image}
This is what I see in price action around/at Pivot Point. This not a prediction services, but using Support & Resistance where price may act to those level.

Currently GU is trying to break upward Pivot Point (resistance) to go to the next level indicated in Chart.

However, this may change with effect of Friday Non Farm News. This is what I see, and it may be wrong analysis.

Sharing is the best way to learn, there may be a smarter traders out there will correct my analysis and we all can learn something out of this.

Careful with your trade.


Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: GU_future.png Size: 70 KB
Let all the living things live blissfully
  • #2,200
  • Sep 1, 2016 3:32am Sep 1, 2016 3:32am
This is wrong.

Trading with Short TF, without looking at Big TF.
Attached Image (click to enlarge)
Click to Enlarge Name: GU_Long_004A_Short_Term.png Size: 104 KB
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