AU is looking ripe for shorts. Double top forming into the R38 level. Still waiting for PA and TDI confirmation though. image

Pivot Trading

Potential EG short coming up, retest of the R61 forming a nice double top. Price has rallied away from the open quite quickly and is approaching exhaustion. Daily R100 level is 15 points away, so there's some nice confluence too. image Update: ...

Pivot Trading

In long UJ at S100. Price is breaking away from open nicely. Will look for shorts again near S61/78 image

Pivot Trading

Here comes the squeeze, you can find some cheap entry prices soon when if it spikes down further. Gawd I love trading so much.... image

Pivot Trading

I was short EA and got out this morning for some nice $$. I think it might still make one small push lower to touch the S100 (pro traders squeezing out the amateurs getting in on the reversal too soon), so stand by to build those longs. Edit: EC is ...

Pivot Trading

I hadn't though of it in that way - thanks as always for your insight!

Pivot Trading

Davit, I was wondering if you've ever used standard pivots instead of Fib pivots? And if so, what made you decide to stick with fibs? Do you find that they are more accurate?

Pivot Trading

Still new to this method of trading, so would like to know if my interpretation of this is correct: On EG chart below we had the day open slightly lower than yesterday, and price then rallied into into R1, and has now started reversing from there, ...

How to predict markets, Catch the moves at value

There seems to be some major momentum behind the NU move, it's probably safer to buy the pull backs, rather than attempt to look for reversals. The longer term triangle formation on daily/4H has broken out and the market is likely to price it up by ...

Pivot Trading

Here's a simple idea: Think of the round number levels as a cross road. Price is either going to reverse there, or break through and run. So to trade them, set long and short entry orders xx pips above and below. Set stops at or slightly above/below ...

Trading Psychological Whole Numbers

WTI Oil is reaching heavily overstretched levels This bear market is pretty extreme, I'd stay away from CAD pairs for a while until this begins to normalize. image 60 pips profit on WTI shorts in the last hour...

Pivot Trading

USD ADP is in 2 hours, I'd wait for that to see which way it goes. Forecasts and past performance show that August ADP/NFP is usually quite poor, so there's a higher than even chance of it turning into a reversal, especially if the larger players ...

Pivot Trading

UC nice short opportunity. Waiting for some bearish candles image

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UJ possible long. I know Davit said to avoid these pairs due to central bank intervention, but if they do intervene it should be to weaken the Yen, and especially here at this BRN near 100. image

Pivot Trading

Yeah Sold EA at R38 when it looked like it was a double top breaking down. Got to +1 RR and then it ran back to BE very quickly. Some of the markets in Europe were closed today, so I guess I shouldn't have been so surprised

Pivot Trading

Got brutally whipsawed out of two near perfect EA and UC trades today. I hate Mondays. How's everyone else doing?

Pivot Trading

Oil into the R38 level. Strong rally last week, so it's likely due for a retracement. Awaiting break below 46.9 and PA confirmation on entry. image UPDATE: And down we go image

Pivot Trading

Yeah. Fridays, and to some extent Mondays too, are usually not profitable. Only the computers trade on Fridays, and even a lot of algorithms are programmed to stop trading then. Liquidity is thin and if any big orders do come in they can often spike ...

Pivot Trading

Those of you familiar with Zipf's law will know that most things in life work in an 80/20 ratio; with trading, 80% of the profits come from 20% of the trades. This was my 80% trade of the week Felt so confident I took 5% risk and now I'm up near ...

Pivot Trading