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Pivot Trading

  • #9,621
  • May 25, 2017 10:04pm May 25, 2017 10:04pm
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Ronnie Renko
  • #9,622
  • Edited 11:47pm May 25, 2017 11:28pm | Edited 11:47pm
All these Temptations.......I usually struggle at 38 levels but have dipped my toes into the water with euraud @ 1.5082...Only 3 trades at this point in time...Wine money again.
All the Aussies must be at work...Never mind I shall keep the Flag flying.
Ronald
Ronnie Renko
  • #9,623
  • May 26, 2017 12:45am May 26, 2017 12:45am
Quoting Ced74
Looking at the AUDNZ.....Close to S138. Pending order...1.0579 R
Entered at S100, more buy limits at S161
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #9,624
  • May 26, 2017 12:54am May 26, 2017 12:54am
Quoting lordgbengs
{quote} Entered at S100, more buy limits at S161
Good to hear from a member...I have been alone for a while Smile.....O.K my evaluations are worthless but I shall continue...nzus..have taken 9 trades and now waiting for a retracement to s138 area...Happy with euraud trade ...just going for some pocket money with this trade.audnz getting close to my pending order.
Ronald
Ronnie Renko
  • #9,625
  • May 26, 2017 1:15am May 26, 2017 1:15am
Pending order on the audnz taken @ 1.0579....I do not have a Crystal Ball but this could go lower so just testing the waters...Using Davits advice..
Ronald
Ronald
Ronnie Renko
  • #9,626
  • May 26, 2017 1:19am May 26, 2017 1:19am
Quoting Ced74
{quote} Good to hear from a member...I have been alone for a while Smile.....O.K my evaluations are worthless but I shall continue...nzus..have taken 9 trades and now waiting for a retracement to s138 area...Happy with euraud trade ...just going for some pocket money with this trade.audnz getting close to my pending order. Ronald
Great and thanks for the response Ced74, I am interested in the EURAUD trade but nothing to drive AUD atm, so am cautious, same issue with AUDNZD but am watching it closely already short EURCAD. I opine we might see some weakness in EUR next week based on technicals, EUR has had 6 weeks of higher highs/higher lows and 5 weeks of higher close.

Please see below view from Nomura;

The research team at Nomura explains that euro continued to grind higher this week and looking into investor positioning in the currency, they find mixed signals.
Key Quotes
FX-focused asset managers and equity investors are very long euros, while FX-focused hedge funds and bond managers are very short euros. Superficially, the latter appear to be more important for turns in the euro, which should support a bullish euro view. One caveat would be that expectations of ECB tapering communication appear to be gathering around the upcoming ECB meeting on 8 June. This could pose a short-term downside risk to the euro, but it shouldnt derail the medium outlook in our view.

I keep my fingers crossed.

Green pips
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #9,627
  • May 26, 2017 1:37am May 26, 2017 1:37am
Update..nzus I have a pending order @ 0.7047.....Off to cook some chicken for my dinner...
Ronald
Ronnie Renko
  • #9,628
  • May 26, 2017 3:40am May 26, 2017 3:40am
Quoting sniperdebt
{quote} Looks like summer holiday come early. 1st target is 78s. Possible rebound at TL/neckline around 100s. Break 100s, next support is 138s. {image}
GM Traders,

1st target achieved.

Quoting sniperdebt
{quote} UJ update {image}
Closed +2041
  • #9,629
  • Edited 7:01am May 26, 2017 5:56am | Edited 7:01am
GBP/USA TP 1 closed approaching TP 2, looking for 2774 TP3, below S100...it has momentum......Edit TP 2 hit one hour later.
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  • #9,630
  • May 26, 2017 5:56am May 26, 2017 5:56am
CAD supported by positive BoC - Nomura
26 May 2017, 12:58

Analysts at Nomura suggest that CAD has been supported by the BoC being more positive on the domestic growth outlook, with the Bank highlighting that the adjustment to lower oil prices is “largely complete” and recent data have been “encouraging”.
Key Quotes
“On housing, macro prudential measures and other policies have yet to have a substantial cooling effect. Over time, these measures should help to mitigate some of the elevated risks, in our view, while the recent moderation in inflation was largely as projected.”
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #9,631
  • May 26, 2017 5:57am May 26, 2017 5:57am
Tentative first trades with Davits Pivot system.

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This thread has been awe inspiring.
  • #9,632
  • Edited 6:58am May 26, 2017 6:11am | Edited 6:58am
My second Gold entry closed today on a pending order while I was at work. From $1,233 to $1,263.35. Held 16 days. It's now bumping it's head on the 4HR TL (just above R38) it dropped below 3 days ago. Will look lower for reentry. I won't short Gold, so many risk factors with chaos in the White House and war talk.
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  • #9,633
  • Edited 6:25am May 26, 2017 6:14am | Edited 6:25am
Good morning pivoters,

still on the EG EA EC and UC.
The one trade i want to get rid of is EG, i hate GBP pairs since brexit, they became so unpredictable and relying to news and statements.
it's one of these days when you don't respect your own rules (i banned GBP trading for myself since October flash crash that hit me on the wrong side).

All the other pairs are doing well.


Thinking to start nuilidng AN now for 1.08Xx target.
"Letting losses run is the most serious mistake made by most investors."W.O
  • #9,634
  • May 26, 2017 6:30am May 26, 2017 6:30am
A/U Davit asked before for opinions on where this is trending. I saw conversation too late to comment at the time. My opinion is down on 4HR, and it has just dropped below a recent rising channel. In the last 7 hours it has bounced up to touch the descending 4HR TL. I just added another short here after taking screenshot as I just opened computer after work, missed earlier profit take opportunity but believe it will go lower again. My opinion is that fundamentals support drop. Iron ore is Australia's No. 1 export, and it has fallen out from under the dollar. Coal, another very important export product, employing many Aussies and supporting many towns,while still profitable for most miners at current levels, has also dropped back and Supply/Demand factors don't look good. For months the A/U got knocked back numerous times whenever it reached .77 area. Now it seems .75 area caps it. Shorting the Aussie has in general been my most consistent winner, so I'm sticking to it!
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  • #9,635
  • May 26, 2017 8:31am May 26, 2017 8:31am
+245 pips on EA
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  • #9,636
  • May 26, 2017 9:22am May 26, 2017 9:22am
Closed my last GBP/USD. Decided not to hold over the wknd and need to get some sleep. Took small profits shorts E/U, U/J and A/J. I think U/J may rise after positive US GDP increases the chance of rate rise in June, so A/J is harder to drop if U/J going up, and again prefer not to hold over wk/nd. Holding shorts A/U and N/U. Not much news due on either one next week. The spike on N/U today in particular seems likely to retrace without positive news due. Holding small longs on U/C from yesterday.
I had a good end to the week. I hope all of you finish well.

Fibo you are getting very good at this Buddy! Great trades. And Davit, well done mate, even better week for you than usual!

Tues. (Oz time) 9:45amNZD
Building Consents m/m

Wed. 8:00amNZD
RBNZ Financial Stability Report

12:30pmAUD
Building Approvals m/m


NZD
ANZ Business Confidence

12:30pmAUD
Private Sector Credit m/m

Thurs 9:45amNZD
Overseas Trade Index q/q

5.7%10:30amAUD
AIG Manufacturing Index


12:30pmAUD
Private Capital Expenditure q/q

-2.1%AUD
Retail Sales

5:30pmAUD
Commodity Prices y/y
m/m


Friday
12:00pmAUD
HIA New Home Sales m/m
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  • #9,637
  • May 26, 2017 9:35am May 26, 2017 9:35am
Quoting Blackopal
Closed my last GBP/USD. Decided not to hold over the wknd and need to get some sleep. Took small profits shorts E/U, U/J and A/J. I think U/J may rise after positive US GDP increases the chance of rate rise in June, so A/J is harder to drop if U/J going up, and again prefer not to hold over wk/nd. Holding shorts A/U and N/U. Not much news due on either one next week. The spike on N/U today in particular seems likely to retrace without positive news due. Holding small longs on U/C from yesterday. I had a good end to the week. I hope all of you finish...
Thanks you Blackopal !!!!! Good weekend to @all
And next weeek more pips Green!!!!!!!!!!!!!!!!!!!!!!!!
  • #9,638
  • May 26, 2017 9:48am May 26, 2017 9:48am
Quoting liamseden
Good morning pivoters, still on the EG EA EC and UC. The one trade i want to get rid of is EG, i hate GBP pairs since brexit, they became so unpredictable and relying to news and statements. it's one of these days when you don't respect your own rules (i banned GBP trading for myself since October flash crash that hit me on the wrong side). All the other pairs are doing well. Thinking to start nuilidng AN now for 1.08Xx target.
Agreed, I have EA, ANZ, NU, and EG going on and my EG has been in DD for a while now. Its reaching such highs and ADR is over 100, TDI looks ready for a cross, but the fundamentals/PA for it seems like it's going to reach close to the R138levels before we see stronger resist. ALthough, Davit did mention in a separate post that it GBP usually take weeks to months to make change. I may have read that wrong.
  • #9,639
  • May 26, 2017 10:19am May 26, 2017 10:19am
This weeks performance . Done for the week. Enjoy the weekend lads and all the best to ye and your families
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The only thing that will make us successful is if we can control ourselves!
  • #9,640
  • May 26, 2017 10:20am May 26, 2017 10:20am
Hi guys
getting lot of 1st time posters and FF members on this thread.I won't respond much to your questions and inquires until I get a sense you do have trading experience otherwise you will be sucking my time and energy.Need to see actual commitment to this system.
I have no way of knowing who you are so screening people is difficult.One of the main reasons I prefer experienced traders on this thread because you understand the basics of trading and blown few accounts and know what risk is.I can't cover basics here and that just waste my time.
Recent poster asked why I don't trade EU recently.Well I have a exact reason why on recent posts by me so this posters could of read at least 10pages of this thread instead of asking the question.
Anyway those who have the principles in correct place rip pips like crazy.Enjoy the weekend.
In trading, you have to be defensive and aggressive at the same time
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