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Pivot Trading

  • #5,221
  • Nov 25, 2016 5:04am Nov 25, 2016 5:04am
got the slam on GJ/UJ - not much weakness happen'n there - 4 tickets - all out b4 the pound red news - notice the G-train went up but left GJ behind
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  • #5,222
  • Nov 25, 2016 5:11am Nov 25, 2016 5:11am
My strategy is:
I have a 15M and H4 chart open.
I am looking for the strongest currency of the day.
On the M15 I have the DPP and on the H4 the WPP.
If the price is on the H4 at the highest or lowest point then I open the trade.

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  • #5,223
  • Nov 25, 2016 5:12am Nov 25, 2016 5:12am
the UJ half ...... got 3 tickets hit - PA retraced into 1 of my lower build tickets - now have 2 tickets left ...... the race is on
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  • #5,224
  • Nov 25, 2016 5:22am Nov 25, 2016 5:22am
Quoting binnie
{quote} Hi GS - I am still doing the reading etc so not quite ready to post . ( soon though ). Hope you don't mind me asking but I see your charts are generally H4. Is that your preferred signal & trigger timeframe or do you head down to shorter charts for entry? That GA trade is so obvious - nice one to use on my wall. Thanks.
hey binnie - i swep thru all TFs on MT4 [<- which is mega limit'd like 2 much] from MN to M30 but yeah H4 is the signal 4 me [read MrAussieFX's posts on how 2 manage this TF ]......... 4 the trigger i sometimes dial down 4 the entry just 2 make sure PA is not jump'n around 2 much
  • #5,225
  • Nov 25, 2016 8:31am Nov 25, 2016 8:31am
It is Friday afternoon, all trades are closed in profit. Some are still open.
I have been trading exclusively on the strategy of Post 5222.
I wish everyone a nice weekend.

David, and for your son all good and blessed blessings

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  • #5,226
  • Nov 25, 2016 9:10am Nov 25, 2016 9:10am
This trade runs in the wrong direction.
I hope he turns soon

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  • #5,227
  • Nov 25, 2016 9:58am Nov 25, 2016 9:58am
Quoting skipper13
It is Friday afternoon, all trades are closed in profit. Some are still open. I have been trading exclusively on the strategy of Post 5222. I wish everyone a nice weekend. David, and for your son all good and blessed blessings {image}
brillant trade'n skipper13 !!!
  • #5,228
  • Nov 25, 2016 10:04am Nov 25, 2016 10:04am
[quote = griffinssoul; 9287709] {quote} brillant trade'n skipper13 !!! [/ quote]

Many thanks.
It's the best strategy I have ever traded.
Thanks to David and everyone else.

  • #5,229
  • Nov 25, 2016 10:09am Nov 25, 2016 10:09am
double bottom play on NU @ the R61 ...... 8 tickets hit - 1 runner @ no refund ...... added 4 more tickets on the breakout ...... very slow 60pip range .......
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  • #5,230
  • Nov 25, 2016 10:16am Nov 25, 2016 10:16am
Quoting skipper13
My strategy is: I have a 15M and H4 chart open. I am looking for the strongest currency of the day. On the M15 I have the DPP and on the H4 the WPP. If the price is on the H4 at the highest or lowest point then I open the trade. {image}
Then if you open positions based on H4, why you have also 15M chart?
  • #5,231
  • Nov 25, 2016 10:17am Nov 25, 2016 10:17am
NCad off the back of NU - UCad was no problem cause the H4 hammer @ entry was all USD - 3 tickets - 2 hit & 1 @ no refund ......
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  • #5,232
  • Nov 25, 2016 10:20am Nov 25, 2016 10:20am
Quoting skipper13
My strategy is: I have a 15M and H4 chart open. I am looking for the strongest currency of the day. On the M15 I have the DPP and on the H4 the WPP. If the price is on the H4 at the highest or lowest point then I open the trade. {image}
And how you decide which is the moment in highest or lowest price to open a position?
  • #5,233
  • Nov 25, 2016 12:56pm Nov 25, 2016 12:56pm
Quoting pipsandbits
{quote} Then if you open positions based on H4, why you have also 15M chart?
Pipsand bits beat me to it - I was going to ask exactly the same question! LOL

IMHO this method lends itself best to multi-day trades (swing trading) so not sure how useful daily pivots are unless you are taking a scalping approach?
  • #5,234
  • Nov 26, 2016 6:22am Nov 26, 2016 6:22am
1st of all thanks for all of you guys wishing well and sending your prayers.It was very touching to read.
Little update.
He is recovering well.He had his 1st water from a cup yesterday and later last night his 1st soup.Doctors still don't know what caused his lung to collapse but had many theories and one that tall skinny kids get it more often which he is.
If all goes well he should be discharged Monday.Needless to say this is great relief for my family and my son.Thank you all for your warm greetings and well wishing.
In trading, you have to be defensive and aggressive at the same time
  • #5,235
  • Edited 7:10am Nov 26, 2016 6:55am | Edited 7:10am
On Thursday, the main focus will be the ISM manufacturing PMI. The closely watched business survey for manufacturing activity is expected to show a third straight month of expansion, with the index increasing slightly to 52.1 in November. The highlight will come from Fridays nonfarm payrolls report however, as it will be the last jobs report for the Fed to assess before it meets on December 13-14 for a scheduled policy meeting.
Nonfarm payrolls are expected to increase by 174k in November, up from 161k in October. The unemployment rate is forecast to hold steady at 4.9%, while average earnings are expected to increase by 0.3% m/m in November versus 0.4% in the prior month. A weaker-than-expected reading is unlikely to deter the Fed from raising rates next month but a much stronger reading could signal faster rate increases in 2017, fuelling the dollar rally further.
http://www.xm.com/week-ahead-nonfarm...potlight-43770

I disagree with that statement.Even with strong numbers its no indication how economy will perform in 2017.If past history is to rely chances of recession is 100% after 2term president
We very likely to have compressed 2 quarters in 2017. Another issue is strong USD.Feds can't keep lifting USD higher and higher and not expect emerging world economies to collapse.
Lots of countries pinned their debt to USD and strong USD means higher interest and weaker local currency.This has snow ball effect on trade and our economy.
If Trump does what he said he would actually we may not see a rate hike at all in 2017 and even this Dec may not happen.
https://d1wnv178rfmrnu.cloudfront.ne...ate2.68490.pdf
interesting article on recession above.

Recession and Elections
I recently noted that since 1910, the US economy is either in recession or enters a recession
within twelve months in every single instance at the end of a two term presidency... effecting a100% chance of recession for the new President
In trading, you have to be defensive and aggressive at the same time
  • #5,236
  • Nov 26, 2016 7:09am Nov 26, 2016 7:09am
Quoting Davit
1st of all thanks for all of you guys wishing well and sending your prayers.It was very touching to read. Little update. He is recovering well.He had his 1st water from a cup yesterday and later last night his 1st soup.Doctors still don't know what caused his lung to collapse but had many theories and one that tall skinny kids get it more often which he is. If all goes well he should be discharged Monday.Needless to say this is great relief for my family and my son.Thank you all for your warm greetings...
Im very happy to hear that DavitHope your son recovery will speedupGod always be with you all
I know one thing, that I know nothing - Socrates
  • #5,237
  • Nov 26, 2016 9:04am Nov 26, 2016 9:04am
[Quote = pipsandbits; 9287784] {quote} Dann, wenn Sie offene Positionen auf Basis von H4, warum Sie auch 15M-Chart haben [/ quote]

See post 5222, H4 is the overview and in M15 I search the entrance
  • #5,238
  • Nov 26, 2016 9:05am Nov 26, 2016 9:05am
[Quote = Nostromo; 9288351] {quote} Pipsand Bits schlug mich zu - ich genau die gleiche Frage stellen würde! LOL IMHO diese Methode eignet sich am besten, um mehrtägige Trades (Swing-Trading) so nicht sicher, wie nützlich täglich schwenkt sind, wenn Sie einen Scalping Ansatz nehmen? [/ Quote]

See post 5222, H4 is the overview and in M15 I search the entrance
  • #5,239
  • Nov 26, 2016 12:35pm Nov 26, 2016 12:35pm
So, my first trades since my 2 months absence .... definitely feeling a little rusty and out of touch with the market!

The first 2 trades on 14th and 17th - E/U and A/U - both got steamrollered by USD surge, stop loss hit in both cases.

Am getting my own back on A/C trade, currently +370 pips and SL set to breakeven. TP currently set to just under the 61 Fib retracement of recent high-low, but I will be actively managing the trade and will get out earlier if it looks to go against me. Am trying to learn to both a) take fewer, higher probability trades and b) hold onto trades longer than I used to.
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Edit: I can see the resistance at the 38 retracement, but with thin liquidity due to thanksgiving weekend I have decided to see what happens Monday am before closing the trade.
  • #5,240
  • Nov 26, 2016 2:19pm Nov 26, 2016 2:19pm
Quoting Davit
1st of all thanks for all of you guys wishing well and sending your prayers.It was very touching to read. Little update. He is recovering well.He had his 1st water from a cup yesterday and later last night his 1st soup.Doctors still don't know what caused his lung to collapse but had many theories and one that tall skinny kids get it more often which he is. If all goes well he should be discharged Monday.Needless to say this is great relief for my family and my son.Thank you all for your warm greetings...
Thank God for speedy recovery Davit. My thoughts and prayers are with your family. Cheers
D labour of a fool wearieth him cos he doesn't know how to enta d city
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