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Pivot Trading

  • #2,361
  • Sep 5, 2016 4:34pm Sep 5, 2016 4:34pm
Maybe I can say something about me as I saw some introductions here recently.
I'm really new into the trading. (If I don't count buying random stocks like 20 years ago.)
Really committed to trading Forex less than a year ago. I am training my patience, self-control and consistency DAILY (even in my live routines - highly recommended)!
I'm sure I will make money for living in this business within five years. I love my current job (and good money), but it's time for a change.
I'm glad I did not commit 20 years ago, when I actually thought about this. With my young mentality, I would be broke by now with no money, no job, and no family most likely. (maybe also dead)
I love price action and normally using naked charts with no indicators on daily/weekly. But was struggling with efficiency lately.
Now when found this thread with weekly pivots and s/r, it all makes so much sense now! Thank you Davit!
I also tried gambling sport some years ago, same as Davit. Maybe this is what attracted me to this thread at first.
(btw. I was playing price action on Betfair charts...)
buying tops / selling bottoms
  • #2,362
  • Sep 5, 2016 5:36pm Sep 5, 2016 5:36pm
Quoting voty
{quote} Hmm didn't understand from the first post where to get it. DL now from google now, tomorrow I will print and start reading. Will fill some time waiting for the amazon delivery.
click top thread clip and all PDF's are there including on harmonics.You don't need to buy additional material.
In trading, you have to be defensive and aggressive at the same time
  • #2,363
  • Sep 5, 2016 7:24pm Sep 5, 2016 7:24pm
AN just broke WP heading north.I do have large positions on this.Just sharing
In trading, you have to be defensive and aggressive at the same time
  • #2,364
  • Sep 5, 2016 8:09pm Sep 5, 2016 8:09pm
Quoting Davit
AN just broke WP heading north.I do have large positions on this.Just sharing
, I have some as well

A String of good news since morning -

1) Business Expectations Index (the average of the survey's measures of Sales, Profits, Employment and Capital Investment) has increased to 17.8 points for Q4 of 2016

  1. Up from 12.3 (Q3 2016)
  2. Down from 21.8 (in Q4 2015)
  3. The interim Q3 result is 9.9 points above the 10-year average of 7.9 points

2) http://www.economist.com/news/financ...e/ed/goodonyou

Cheers
MR

Silence your Ego & Your Power will Rise
  • #2,365
  • Sep 5, 2016 8:43pm Sep 5, 2016 8:43pm
Quoting mraam
{quote} , I have some as well A String of good news since morning - 1) Business Expectations Index (the average of the survey's measures of Sales, Profits, Employment and Capital Investment) has increased to 17.8 points for Q4 of 2016 Up from 12.3 (Q3 2016) Down from 21.8 (in Q4 2015) The interim Q3 result is 9.9 points above the 10-year average of 7.9 points 2) http://www.economist.com/news/financ...e/ed/goodonyou...
Thanks for sharing
Aussie got beaten up too much in August.She needs to recover somewhat 500-550 is reasonable correction
In trading, you have to be defensive and aggressive at the same time
  • #2,366
  • Sep 5, 2016 8:56pm Sep 5, 2016 8:56pm
Quoting Davit
{quote} Thanks for sharing Aussie got beaten up too much in August.She needs to recover somewhat 500-550 is reasonable correction
Spot on, its weakened across the board correction coming. All the AUD crosses moving too.

Interest rate decision in a couple of hours, most probably no change.

Greenpips,

MR
Silence your Ego & Your Power will Rise
  • #2,367
  • Sep 6, 2016 12:02am Sep 6, 2016 12:02am
Quoting Davit
{quote} Thanks for reading the PDF not many have.Try reading the original book by Dr Maxwell Maltz My aim is to make successful trading become automatic by repeated patterns and positive mental reinforcements.You need the mind to work with system. These two are crucially related.Most don't realize how trading psychology effects results. In my opinion biggest trading mistake is having large position which contribute to greed and stress 2 things that hinder successful trading in long term. Reason why I keep overemphasizing to trade smaller lots.Idea...
Thank you so much Dear Brother Davit before reading your given PDF books and and before applying your system my lot size was very large and maximum time i was in mental pain and lost lot of hard earn money many many time by doing the same mistake again again,,,Patience is everything i see this always ,but i've learn to apply patience attitute properly in my mind after seeing your Patience Brother , ,
  • #2,368
  • Sep 6, 2016 12:11am Sep 6, 2016 12:11am
Quoting Davit
AN just broke WP heading north.I do have large positions on this.Just sharing
i am on same trade ,, on AN price has broke the WP and very strongly its going to up side and fundamentaly good news is also giving support,

take care dear Brother
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot_1 6sep16 an h1.png Size: 43 KB
Click to Enlarge Name: Screenshot_1 6sep16 an h4.png Size: 37 KB
  • #2,369
  • Sep 6, 2016 2:36am Sep 6, 2016 2:36am
Pairs I'm looking into:

1. AUD-USD lining up nicely with first rejection to R78 with a nice long wick. Also noticing the divergence in RSI, waiting for additional confirmation before going in.
2. GBP-USD also being rejected in R38.
  • #2,370
  • Edited 3:33am Sep 6, 2016 3:11am | Edited 3:33am
Quoting bakamx
Pairs I'm looking into: 1. AUD-USD lining up nicely with first rejection to R78 with a nice long wick. Also noticing the divergence in RSI, waiting for additional confirmation before going in. 2. GBP-USD also being rejected in R38.
Great post.

Can you please share your set up chart.

Thanks
Let all the living things live blissfully
  • #2,371
  • Sep 6, 2016 3:12am Sep 6, 2016 3:12am
AUDUSD - 240mins TF.

45 mins to go before closing.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD Set up.png Size: 92 KB
Let all the living things live blissfully
  • #2,372
  • Sep 6, 2016 3:29am Sep 6, 2016 3:29am
Still waiting for proper set up.

Meanwhile, if price pull back on this, i will be looking for long.

If it break down, i will be looking for short set up.
Attached Image (click to enlarge)
Click to Enlarge Name: GU Set up.png Size: 30 KB
Let all the living things live blissfully
  • #2,373
  • Sep 6, 2016 3:57am Sep 6, 2016 3:57am
Thanks Arjun!
I will start posting with some pictures from now on.
  • #2,374
  • Sep 6, 2016 4:01am Sep 6, 2016 4:01am
Hey Arjun,

What are your thoughts on USD-CAD?
  • #2,375
  • Sep 6, 2016 4:05am Sep 6, 2016 4:05am
Quoting bakamx
Hey Arjun, What are your thoughts on USD-CAD?
Appreciate if you could post your chart please. Thanks

Edit. Going for S61. Then we will see from there, what does PA tell us.
Let all the living things live blissfully
  • #2,376
  • Sep 6, 2016 4:34am Sep 6, 2016 4:34am
Quoting Arjun-LE1
{quote} Appreciate if you could post your chart please. Thanks Edit. Going for S61. Then we will see from there, what does PA tell us.
Yes, Arjun... I'm just cleaning up my charts a little bit first... I have some "extra luggage" that I need to remove...
  • #2,377
  • Sep 6, 2016 5:29am Sep 6, 2016 5:29am
Quoting Arjun-LE1
{quote} Im trading using 240mins chart. Came to check my trade. It's slow, and minor support still hold. Bearish trend, hoping it will break down during Tokyo. {image}
The trade pull back goes against me around 60 pips during Tokyo. Still holding short position
Attached Image (click to enlarge)
Click to Enlarge Name: GJ Short 004.png Size: 85 KB
Let all the living things live blissfully
  • #2,378
  • Sep 6, 2016 7:25am Sep 6, 2016 7:25am
Quoting Davit
{quote} make sure you are using WP I am going South and been going south for a while since 1.0070 have multiple positions from various levels.Can price rebound up from 98?Absolutely but my positions are targeting 9750-96 so my bias is little longer term. What I am saying is my positions are bear but does not mean price can't bounce 50-60pips up.Its a choice I made on this particular pair. I like CAD better. This is kind of trade that I like keeping for longer TP target.Lets just say should it hit 96 I will fulfill my monthly goal plus more on this...

Thanks for Davit and Arjun's advice on this AC. I came out earlier as today was full with works. No time to monitor..
  • #2,379
  • Sep 6, 2016 7:39am Sep 6, 2016 7:39am
Potential setup for NU? R38 to Pivot for 50pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 58 KB
  • #2,380
  • Sep 6, 2016 8:00am Sep 6, 2016 8:00am
Quoting tzin
Potential setup for NU? R38 to Pivot for 50pips. {image}
please read Brother Davit's #post 2,354 for a long term clear view on NU .

and read the full thread which Brother Davit has share already .
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