That's probably the middle of the night for you, but if you can structure your operating time to coincide, the strategy will still work.

Daily pivot bounce

Nice one Ralfy.

Daily pivot bounce

Good morning Gwindy. I'm not absolutely sure on this, but my understanding is that European traders, based on the Frankfurt opening, tend to start their actions at 7 am, which is one hour prior to the official European open, and British traders tend ...

Daily pivot bounce

Caution has been confirmed together with confirmation that this system works. Look at the charts below to see the pattern in action. The first chart shows the trend direction changing from bullish to bearish. Price has retraced to the daily pivot on ...

Daily pivot bounce

I don't like this language. I'm out of here.

EURUSD

The pair reached the 11300 level today and touched 100 ma on the daily chart. My reasoning suggests that this week's rally may be at an end and next week goes into consolidation. image

EURUSD

I rather suspect that we may have seen the end of this week's rally of the EUR as it has reached the 11,300 level against USD and touched the 100 ma on the daily chart. I shall take stock of all currency positions after the bank holiday and probably ...

Daily pivot bounce

Hi Chango, I use a 20 ma rising in green and falling in red, and a 50 ma rising in blue and falling in orange. On the 30 m time frame the 20 ma can dip down to touch the 50 or even the 100 before it starts to rise again. If the 20 falls right ...

Daily pivot bounce

Putting it a simply as possible Ralfy, I use the 30 m time frame with a 100 ma for my major trend indicator, then, when price dips down showing a minor down trend on the 20 ma (I use green for the 20 ma rising and red for the 20 ma falling) towards ...

Daily pivot bounce

No charge Ralfy. I just like to share what I have learned. Bank holiday break from trading. Time to watch a bit of world championship snooker.

Daily pivot bounce

Hi Claudia, trading a pair that is going to be influenced by a news release is another ball game altogether and one I treat quite differently. I generally find that the news reaction is usually in agreement with the pre-news sentiment. So, if price ...

Daily pivot bounce

Hi Ralfy, let me see if I can answer all your questions. Your first question, 'how to figure out the right time to enter the trade'? This is a bit tricky. Today for example I entered too early and got stopped out on the pullback. I suppose its a ...

Daily pivot bounce

Nice one Martin.

Daily pivot bounce

Correct. The best trades tend to be those that bounce off the daily pivot, but as we can see from today's trades, non of them touch the pivot, but the pattern remained sound and profitable. Of course it all depends on the market sentiment at the ...

Daily pivot bounce

Price did not retrace down to the pivot this morning, but the pattern remained constant in all other respects. Although it did not dip down to the daily pivot, price did pullback at 7 am. This lost me 20 pips on EUR/CAD and EUR/AUD because I entered ...

Daily pivot bounce

Hi Martin, I rather suspect that the overnight retracement strategy is going to work best when there is a sharp counter-trend rally that needs to be corrected. I shall therefore not pay too much attention to it unless such a move reveals itself. I ...

Daily pivot bounce

Ralfy, I use a 20 pip stop loss and a 50 pip target. But from what I see in the past couple of days I shall increase my target to 100 and set a trailing stop of 25 pips. When price reaches a 25 pip profit I shall take half profit and let the bugger ...

Daily pivot bounce

Let me see if I can make this as simple as possible. The direction of the trend will determine whether you trade long or short. The examples I am using are with the rising trend of the EUR. So, I am going long. If the currency was trending down then ...

Daily pivot bounce

Here is the outcome of last night's trades. Price did not retrace as much as usual, which is a bit of a disappointment. Here are the charts below. Notice how price reached its bottom on all charts at 7 am GMT and resumed its upward trend. My ...

Top movers overnight retracement

[quote=mary4x;8236140] Just below the last bar.

Top movers overnight retracement