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Pivot Trading

  • #8,081
  • Mar 22, 2017 7:29am Mar 22, 2017 7:29am
Looking at Dollar Index, it appears to be holding the S61 level for now, if it starts turning up UJ, GU, and EU could all turn out to be good trades. How closely do you watch the dollar index when making entries on the dollar pairs? Is it important? Or just another tool? All that said, Dollar index is at support and if it breaks and holds below, US pairs could be making big moves as Davit mentioned. I am also in UJ watching the DXY closely.
  • #8,082
  • Mar 22, 2017 7:32am Mar 22, 2017 7:32am
sad day for US economy.

Sears is planning to close another 150 more stores and may close totally adding thousands to unemployment.Its not just Sears but Macy's Kmart Northstorm and others
Amazon and Walmart basically killed box stores.

After years of huge losses and store closings, the future is officially in doubt for Sears and Kmart.
Sears Holdings (SHLD), the holding company for the two iconic retail brands, warned investors late Tuesday that it can't promise it will stay in business.
The story is the same for these and other struggling chains like Macy's (M), JCPenney (JCP), Barnes & Noble (BKS), Victoria's Secret owner L Brands (LB) and Target (TGT).
There is a retail bubble -- and it's bursting
http://money.cnn.com/2017/03/09/inve...ex.html?iid=EL

I am one of the few who believe rosy picture Feds are painting "full employment" and rabid hikes is premature.Basically I am USD bear right now.Why I won't long UJ UC or short EU
In trading, you have to be defensive and aggressive at the same time
  • #8,083
  • Mar 22, 2017 8:22am Mar 22, 2017 8:22am
NJ Possible opportunity, keep watching this development.

+ TDI approaching OS area.
+ Possible Cup & Handle plus with Shark.
+ Inverted H & S .
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYWeekly.png Size: 179 KB
  • #8,084
  • Mar 22, 2017 8:41am Mar 22, 2017 8:41am
Quoting bwaltner
Looking at Dollar Index, it appears to be holding the S61 level for now, if it starts turning up UJ, GU, and EU could all turn out to be good trades. How closely do you watch the dollar index when making entries on the dollar pairs? Is it important? Or just another tool? All that said, Dollar index is at support and if it breaks and holds below, US pairs could be making big moves as Davit mentioned. I am also in UJ watching the DXY closely.
Keep an eye on the SP500, currently bouncing off S100. I read an article on Marketwatch that historically, after such a long period without a 1% down day, when that day comes it is followed by the market rising. A lot of people like buying dips in bull markets. If the SP500 can rise so will UJ, if not then the selling may accelerate.
  • #8,085
  • Mar 22, 2017 10:09am Mar 22, 2017 10:09am
A few guys here seem to be underwater on the UJ. If so, this chart should give you cause for optimism. If the SP500 can hold the S100 level and slice through the other support levels to the weekly pivot, then UJ longs are back in business. If the SP500 fails to hold these levels, it's goodbye to those UJ longs.
Attached Image (click to enlarge)
Click to Enlarge Name: US500M30 bounce off overnight low and S100.png Size: 30 KB
  • #8,086
  • Mar 22, 2017 11:31am Mar 22, 2017 11:31am
Quoting Davit
sad day for US economy. Sears is planning to close another 150 more stores and may close totally adding thousands to unemployment.Its not just Sears but Macy's Kmart Northstorm and others Amazon and Walmart basically killed box stores. After years of huge losses and store closings, the future is officially in doubt for Sears and Kmart. Sears Holdings (SHLD), the holding company for the two iconic retail brands, warned investors late Tuesday that it can't promise...
Yes the all-in-one stores are killing everyone. We are becoming lazy, impatient, and have a tendency to forget that which have historic value. So we shop for things, food and entertain ourselves in one place. Not just in these all-in-one stores, but on the internet as well.

I remember back in the days when Internet was brand new. One of the first objections was that it will kill the retail stores. When it did not do so it seemed to cool that idea off. Now we see the effects of it. It was a matter of time. Once there was Woolworth which has been closed for a long time now (I mention it because we still have Woolworth here in Mexico). Of course this is my opinion as to why it is happening, but as in all businesses, you have to change and adjust to what is "in" just that this was a time bomb waiting to explode.
Invest in Life
  • #8,087
  • Mar 22, 2017 11:43am Mar 22, 2017 11:43am
Quoting notouch
A few guys here seem to be underwater on the UJ. If so, this chart should give you cause for optimism. If the SP500 can hold the S100 level and slice through the other support levels to the weekly pivot, then UJ longs are back in business. If the SP500 fails to hold these levels, it's goodbye to those UJ longs. {image}
I think UJ drop has lot to do with Nikkei then SP500
This is because Yen is considered a "Safe-Haven" currency, i.e. people buy Yen when stocks (and their exchanges, such as the Nikkei) are doing poorly, and sell their Yen when Stocks are doing well.
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #8,088
  • Mar 22, 2017 12:38pm Mar 22, 2017 12:38pm
Inserted Video

amazing throat singing
In trading, you have to be defensive and aggressive at the same time
  • #8,089
  • Mar 22, 2017 2:01pm Mar 22, 2017 2:01pm
Quoting sniperdebt
NJ Possible opportunity, keep watching this development. + TDI approaching OS area. + Possible Cup & Handle plus with Shark. + Inverted H & S . {image}
With the rate decision today, do you expect hawkish tone?
  • #8,090
  • Mar 22, 2017 3:39pm Mar 22, 2017 3:39pm
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPYH1.png Size: 81 KB
  • #8,091
  • Mar 22, 2017 11:08pm Mar 22, 2017 11:08pm
AC update. Still holding AU sell...EU sell and UJ buy.
Attached Image (click to enlarge)
Click to Enlarge Name: Mar22 AUDCAD.png Size: 115 KB
Invest in Life
  • #8,092
  • Mar 23, 2017 2:15am Mar 23, 2017 2:15am
Quoting Mundo
AC update. Still holding AU sell...EU sell and UJ buy. {image}
Aha good to see, I'm also AC short with similar targets.
buying tops / selling bottoms
  • #8,093
  • Mar 23, 2017 2:34am Mar 23, 2017 2:34am
Quoting voty
{quote} Aha good to see, I'm also AC short with similar targets.
Same boat guys
Attached Image (click to enlarge)
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  • #8,094
  • Mar 23, 2017 2:38am Mar 23, 2017 2:38am
Sell limits ready on GU 1,26-1,27, pretty interesting levels when looking on daily.
Not only it is in the zone or slightly above, but pound likes to test this area and fall 500+ pips right after...
Attached Image (click to enlarge)
Click to Enlarge Name: 2017-03-23 0832 OANDA-GMT+2 Live - [GBPUSD,Daily]_sell_limit.png Size: 51 KB
buying tops / selling bottoms
  • #8,095
  • Mar 23, 2017 3:13am Mar 23, 2017 3:13am
Quite a few trades I'm holding atm, most of them looking great.
Short AC, AN, EC, AU, UC.
Changed slightly target for gold + keep one small trade opened.
EG sell limit on pivot yesterday missed by like 5 pips? Buy limit in place now. Plus GU sell limits as stated above.

edit: the gold pip value is confusing, 4000 means 400 when compared to currency pairs profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2017-03-23 0909 OANDA-GMT+2 Live - [AUDCAD,Daily]_short_status.png Size: 50 KB
Click to Enlarge Name: 2017-03-23 0909 OANDA-GMT+2 Live - [AUDNZD,Daily]_short_status.png Size: 48 KB
Click to Enlarge Name: 2017-03-23 0910 OANDA-GMT+2 Live - [EURCAD,Daily]_short_status.png Size: 49 KB
Click to Enlarge Name: 2017-03-23 0910 OANDA-GMT+2 Live - [AUDUSD,Daily]_short_status.png Size: 53 KB
Click to Enlarge Name: 2017-03-23 0910 OANDA-GMT+2 Live - [USDCAD,Daily]_short_status.png Size: 59 KB
Click to Enlarge Name: 2017-03-23 0911 OANDA-GMT+2 Live - [XAUUSD,H4]_long_status.png Size: 46 KB
Click to Enlarge Name: 2017-03-23 0911 OANDA-GMT+2 Live - [EURGBP,H4]_buy_limit.png Size: 43 KB
buying tops / selling bottoms
  • #8,096
  • Mar 23, 2017 3:19am Mar 23, 2017 3:19am
AU Going down because I formed a section, in daily.
I pull the wick over the resistance.
Close my offices at the pivot.ohhhhh
Wrong
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 79 KB
  • #8,097
  • Mar 23, 2017 4:01am Mar 23, 2017 4:01am
Quoting fibo38
AU Going down because I formed a section, in daily. I pull the wick over the resistance. Close my offices at the pivot.ohhhhh Wrong {image}
I'm still holding, up about 850 pips at the moment. Aiming for just under .76.
  • #8,098
  • Mar 23, 2017 6:43am Mar 23, 2017 6:43am
Quoting Mundo
AC update. Still holding AU sell...EU sell and UJ buy. {image}
Update AUDCAD Closing 7 positions hit S38, Leave 1 position run to S61.
Update AUDUSD Closing 3 positions, leave 1 position run to S38
Still holding EU sells and UJ buys both have some in profit some on manageable DD that should turn into profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Mar23 AUDCAD.png Size: 124 KB
Click to Enlarge Name: Mar23 AUDUSD.png Size: 124 KB
Invest in Life
  • #8,099
  • Mar 23, 2017 9:08am Mar 23, 2017 9:08am
Already closed, that was a nice trade
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 96 KB
  • #8,100
  • Mar 23, 2017 9:22am Mar 23, 2017 9:22am
Quoting voty
Quite a few trades I'm holding atm, most of them looking great. Short AC, AN, EC, AU, UC. Changed slightly target for gold + keep one small trade opened. EG sell limit on pivot yesterday missed by like 5 pips? Buy limit in place now. Plus GU sell limits as stated above. edit: the gold pip value is confusing, 4000 means 400 when compared to currency pairs profit. {image} {image} {image} {image} {image} {image} {image}
Hi Voti
I think I talked about limit orders before but I'll say it again.
Limit orders are not part of my system.My system is based on reading PA on key pivots.Limit orders assumes price will do what you expect.While that may work few times it can also not work lot other times.What I am sharing here is high probability system but you are actually lowering my Edge by introducing a variable of your own doing.
I just thought to share this so we are on same page.
regards
In trading, you have to be defensive and aggressive at the same time
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