Thread: Daily pivot bounce

Originally Posted by ;

Thanks for your comprehension and egy Tellboy. I'm following with much interest. Concerning the 7:15 time, how does this relate to the forex sessions? Does this equate to the London open or 1hr before roughly?

Good morning Gwindy. I'm not totally 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 available, and British traders have a tendency to start at 8 am, which is one hour prior to the official British open. My timings are based on GMT. Can this help?

Originally Posted by ;

Morning Tell Hope You had a nice week-end and You are right at 7.15 there was the opposite, it just touched the Main Pivot and all the way down and still going, easy over 50 pips this morning. I see in the chart Your Pivot is the same as mine.I got it in Action Forex 1.1220

Nice one Ralfy.

Originally Posted by ;

quote Good morning Gwindy. I am not completely certain about that, but my understanding is that European traders, dependent on the Frankfurt opening, often begin their actions at 7 am, which is one hour prior to the official European open, and British traders have a tendency to begin at 8 am, which is one hour prior to the official British open. My timings are based on GMT. Can this help?

Great evening from downunder Telboy Thanks for the answer. . .that makes sense.

Originally Posted by ;

quote Good evening from downunder Telboy Thank You for the Answer.. .that makes sense.

That's most likely the center of the night for you, however if you can structure your working period to coincide, the egy will still work.

Stand by Men for another bear move on the EUR. Do not trust to luck or gamble. Adhere to the rules and hold your guts. Wait for the pullback and let it run. Have.

Originally Posted by ;

Stand by Men for another bear move on the EUR. Do not trust to gamble or chance. Follow the rules and hold your nerve. Wait to the pivot for the pullback and then let it run. Have.

Why not tellboy. I already sold today as it was rejected in the daily PP it is shown as daily large, because the Pivot just got calculated again... I am also a pivot trader, will post from time to time. The entry has been late after the signal, but with a small position it is okay for me to target lower levels when support gives way - after retest of new PP.

Good Day Men. Here is the setup at 06:45 of today. Just waiting for the pullback now.



And this is the result. Note that although price did pull back at 7 am, it did not really attain the daily pivot. Never mind, but be aware that this can happen if the pivot is a little too much away. The main issue would be to wait for the pullback and input at its high point if at all possible, or specify a stop entry only below price as it rises.

Originally Posted by ;

Good morning Guys. This is the setup at 06:45 of today. Just for the pullback now. image

Viewing and waiting 1:45pm in the day here in Perth.

Originally Posted by ;

Good Day Men. Here is today's set-up at 06:45. Just for the pullback now. image

Good Morning to all
Hi Tell Do You always wait for the price to touch the Pivot or even near it?

Originally Posted by ;

quote Good Morning to all Hi Tell Do You always wait for the price to touch the Pivot or even close to it?

Occasionally it does not quite attain the pivot, as happened now. They key is to watch for the pull back and then enter as it begins to retrace down or set a stop entry only under price as it rises. Watch for a illuion.