Thread: Trading Price Pivots

On might 23rd 2011 price arrived to 1.4000, went to 1.3968 then pulled back to provide a daily close at 1.4012. On May 24th we had a bullish candle with NO down wick. So we have a Low (of the 23rd) and a greater Low (of the 24th). We look to see whether this is a legitimate 3 Price Pivot arrangement and it ends up it's equally the 3 and the 5. However, considering we were only looking to have a 5, then the fractal would show up on the close of the candle around the 24th of May. An individual could choose to enter the open OR await the retrace like I do. So I dropped into the 1H chart and put in my fibos extending from the low of the 23rd into the top of the 24th, slept and arrived back in the morning J ... There arrived a few entrances I could take based on price action, but for now let's talk strictly PP... and even with PP we had three... #1 at 9am GMT #2 at 12pm GMT (3 arrangement PP) and #3 at 16pm GMT (a 3 5 PP). With just these 3 entrances we would not have got removed prior to the 1st of June when our guide trailing stops were at the low of each prior candle. It would have approximately made 250*3 pips... However you can chose to trail at the previous 2 or 3 lows... We will reach that
I flunked all of my art courses in college thus excuse the poor images...

Originally Posted by ;

Nice Ribbon, Chantal. Ties in nowadays, with how I'm trading the TFs, motivated by Nomask's Trading Major Lines thread. I've weekly hindsight as down and closed below 1.4500 level, I then use 4hr Heikin-i candles to home in on an entrance, which in this instance will be short from a bearish closed HA candle. Don't wish to hi-jack your ribbon, just happy to find a similar analysis.

Thank you sidefx, no don't be worried about hi-jacking, we are all here to discuss and to learn from each other. I tried HA ages back but I prefer regular price. To each his own I suppose ... I have read through Nomask's thread, he seems to be a really astute trader. The greater time frames will be the best way to go.... It took me literally TEN years to accept this fact LOL
Chantal

Last week GBPCAD needed a close below 1.60000 and we also had a valid installment formed Friday as the confirmation candle. But also gave a counter setup, what I do is I try to decide on the weekly bias, if that doesn't come through I change places if the conditions are right. Where would be a setup? Trend and or counter trend... This is available to anyone after...
Chart 1 Blue emphasized region is Thursday n Friday, Green is Monday
Chart 2 Fib swing predied on Friday Monday action, counter last week close... see how price now cuts through them as they do not exist...

That really is a trade I could have taken, but was probably doing my very best drawing on charts...
It came at a 500 number, together with the daily up trend and gave a perfect PP off the 50% Fib.
You may observe that I stretched my fibs to incorporate the new homemade this morning at the 7am GMT candle. This is what I do so long as our daily signal is on. Had I never price would not have came back into my fib zone.
Try things out on your charts and it'll start making much more sense, I guarantee. I hope we'll cover all this sooner than later so that we may all be on precisely the same page.
Thanks
Chantal

Eyeing EU for the short... motives, fantastic pin bar off the 500 line (4 pips shy of it, to me remains legitimate) and also very close confluence with the 50% line. Assuming that the current candle will demone some bearishness. Stop will be in the top of Friday plus ten pips. Or if this hour will not close for my liking and another one will, then I will enter in the end of the next hour8230; Permit#8217;s see how it plays#8230;

Note: The pin bar with all the candles on its left and right create the PP... Forgot to mention that... That is of course unless the current candle doesnt extract the top of this PB...

EDIT: The candle shut well as an engulfing bar, also covered three candles until it... I am in

The setup candle of this 30m chart looked even better...


Ok done for now...

Chantal

Hope all is great with you chantal thanks for the invite to your thread, reading it made me glad cos you chose decision eventually to share it with ... even you'd shared your system with me from 8 months, yet I explained it temporarily for anybody ..., reading your words describing your system at a really clear way, made me so glad cos your system will probably help several traders to become much better as traders ... will help them to build a wonderful setup with one goal to make profits in the Fx market as a professional trader learning by the ideal.

Throughout the previous 5 months, been trading the market following your installment of two candles in 1 direction entering on the next following fractals, nevertheless my biggest mistakes was when I had been attempting to predict the setup before it occur yes yes still the same crazy trader nothing changed... such as last gbpusd down fall last friday took it from deep betting that on monday market is likely to produce a wonderful setup and proceed bullish ... made 128 pips but based on chance to be honest more then a obvious setup.

Also I was recently facing hard time putting stop drop under the fractal, as market particularly on gbpusd stressed me so much cos too many fractals will appear market bubbling hitting my discontinue drop for later market go in 1 way and I wasn't in it so raising stop lose was present in many cases within my trades for later to close them with big missing.

Yet, what I enjoy in your system that the most is the way that it reveal that the movement on chart when it's little, as constructing the foundations of a tower ... nonetheless market might change direction ... but it's the Best feeling of when I follow your setup and also the market go my way ... on the flip side it's the baddest sense of when market hit my stop drop tricking my suggestions following this installment ... always I feel big players had been playing against the Exact Same setup you follow ... anyway lucky are those That Are patient enough to continue following your installment to ride each big wave they will harvest lot of pips ... the best waves I profiting from following your installment is on gold chart, at Precisely the Same time I m writing this response, an open commerce on gold on with 218 pips... always I follow 1h chart to scan 3 candles with one management

Less I can do for you is let all my traders buddies know about this thread on Foreign Exchange factory ... to allow you to get lot of answers

Best Wishes
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Tony

Great thread, this type of trading pure Pa is refreshing. Subscribed

Hi Chantalb

that I believe I got it, following your clear and detail explanations.

Thank you. I'll also post my transactions whenever possible.

All The Very Best
Il Brigante

Hi chantalb. . Appears to be quite intriguing.

Nice to be at the beginning of a thread to get a change
Query about affirm candles. Is it that you consider the green arrow indied candle, is not also a confirmation candle?