...the same seems to apply for AUD after its 3 day retracement. Good bounce off the 23.6% level.

Channel-to-pivot approach

...but it is interesting to see, that for those pairs without significant impending news, the surprising moves ALWAYS happen in the prevailing direction... see NZD now and as above in post #24. The trend IS your friend.

Channel-to-pivot approach

Sentiment confirming trend ? Or a prophet for the outcome of the French elections ? There has been an inverse relationship between the EUR and the GBP until the election hype began. Theresa May's announcement was interpreted in favor of the GBP ...

Channel-to-pivot approach

Following up on one of the previous posts: in order to counter the situation of entering just when adverse excursion / retracement turns the overall bias around (remember: the trend is your friend until it bends), I combined Fibo retracement with ...

Channel-to-pivot approach

Choosing my pairs, I'd always couple upwards and downwards biases and reconfirm the bias on the pairs' charts themselves, e.g. short USDCHF. Personally, I'd be avoiding the GBP until there has been a correction towards the Line-Of-Best-Fit. From a ...

Channel-to-pivot approach

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Channel-to-pivot approach

For some bias reference today.

Channel-to-pivot approach

Download and unzip from - url , Auto-Pivot Plotter 1-41.zip. Check the time on your chart and compare it with the actual time in London, e.g. my broker's (Pepperstone) charts show now 3PM, London stands at 1PM. The market "closes" at 5PM NY or 10PM ...

Pivot Level Scalping

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Pivot Level Scalping

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Pivot Level Scalping

Some setups today - taking a Risk:Reward ratio of 1:1.5-2, so far I still see an edge.

Pivot Level Scalping

I don't share my code, because I change it continuously to suit my needs and I don't want to support it. However, you can try this one - url , Auto-Pivot Plotter 1-41.zip.

Pivot Level Scalping

some more setups

Pivot Level Scalping

...and long GBPUSD was a good call, too... The reward:risk concept is directly proportional to how we perceive trend/bias: the long bars are longer in totality than the short bars are short in total in an up trend and vice versa in a short trend. No ...

Channel-to-pivot approach

GBPJPY just closed - I'm up 1.5% for today :-)

Channel-to-pivot approach

Indeed, there are no guarantees that the bias continues, but that's where risk management in the context of a channel comes in. My lot size is a function of the balance and the channel width (the distance between first entry and channel border are ...

Channel-to-pivot approach

First entry today

Channel-to-pivot approach

Despite the EURGBP chart shown above, my tools actually suggest NOT looking for market entries today: JPY is the only strong currency and all JPY pairs are oversold. I'll place some pending orders, though, and call it a day.

Channel-to-pivot approach

...and going with the practice of self-fulfilling prophecies, I'd be picking entry zones where there is confluence between Fibonacci retracements and Pivot Points. Target exits are the next x levels down. Stop levels are either a few pips above the ...

Channel-to-pivot approach