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Pivot

Entry on EURUSD today! We wanted to see price reaching our zone on EURUSD but it looks like right now there's not enough buying pressure. This is the reason why we don't take trades towards the zone and against the trend but just wait for the right moment instead. It looks like this moment is now. Not the way we wanted it, but we trade what we see and we're now looking to sell from current price levels. Stops will be above 1,0615 and we should use less risk on this trade because this SL level is still aggressive. A SL above 1,0780 is much better but then we don't have a decent risk to reward ratio. Targets are still below the previous low, we are expecting a breakout!
Short
by ForexTrendline
5
How to Calculate a Pivot point.In this quick tutorial I have shown how you can take the formula (high+low+close)/3 to create a dynamic support and resistance level, which you can use to make trading decisions, only buy above pivot and sell below. Now it is handy to have an indicator to do this manually for you everyday, as every day a new pivot is generated. This pivot will filter down possible bad entries by putting you the right side of the trend, wait for breaks of this level to tell you potential trend changes... If anyone is interested I could do a tutorial on how to create the Support 1, 2, 3 and Resistance 1,2,3 levels... at the end of the day nothing wrong with learning the mechanics of your trading system! Pivots can work extremely well on an intraday timeframe, 1m,5m,15m charts will often see trades appear around these levels.. Keep strong and prosper. ZenFlo
Education
by ZenFlo
SPY week in reviewLearning to see, trust, & execute the Intraday System Levels are the key to successful day trading. Position Size, Risk Management, and Intraday Strategies are your critical weapons. Knowing WHEN & HOW to deploy capital is essential which is why we deploy our Daily Matrix System to help us determine if we should be selling Credit Spreads, buying Debit Spreads, playing Long Options, using shares, or trading a combination of each & Hedging. This review is step-by-step using our Intraday Volatility Levels and works with $SPY $SPX $ES $ES_F $QQQ $IWM $BTC (and any other individual stock symbol) MON (June 6)- SPY opened with a GAP UP, quickly attacked the GREEN BUY TRIGGER and immediately hit our SUPPLY ZONE / R1 (WHITE LEVEL). Fundamentally you take 50% of your profits here...GET RISK OUT OF THE TRADE!! Stop Loss should have been at your entry or higher on the remaining 1/2. 1100 hours price action stalled and sold off back under the OVER/UNDER (not displayed on this chart) and immediately moved down below the RED SELL TRIGGER and to DEMAND / S1 (WHITE LEVEL) & accomplished SELL TGT #1. Again, take 1/2 off your short profits at WHITE, and either 1/4 or close the trade at the 1st TARGET. If you left some short runners on, you were rewarded with a huge 1200 hrs drop down to SELL TGT #2. Remainder of Monday's PM session chopped between S1 and S3 and ultimately filled the opening gap from Friday. TUES (June 7)- SPY opened GAP DOWN, but rallied from the opening print, achieving the GREEN BUY TRIGGER early and we called Low of Day (LoD) was in by 0945am. Again, 1/2 off at WHITE SUPPLY ZONE, & we achieved BUT TGT #1 in the first hour of trading. Europe close at 1130 gave some an additional long entry, and the move over R2 opened the BUY TGT #2 door (from 413.80 to 416.05) which was a huge move but failed to peak above Monday's HoD (ominous for the remainder of the week). WED (June 8)- SPY opened GAP DOWN from Tuesday's late run, but the VOL LEVELS had us with a RED MINDSIGHT (under RED SELL TRIGGER) almost the entire day. SELL TARGETS #1, #2,& #3 were hit and the entire afternoon session was between SELL TGTS #2 & #3. THURS (June 9)- SPY opened GAP DOWN (again) but the Levels were paining a RANGE DAY with price action likely staying inside the WHITE SUPPLY/DEMAND ZONES. RANGE DAY RULES applied until 1400, at which time SPY moved under the DEMAND/S1 Zone and we all know what happened from there...SELL TGT #1, #2, #3, & #4 were hit and we closed at the LoD. Expect more pressure overnight FRI (June 10)- SPY opened GAP DOWN and only got a wick above the GREEN BUY TRIGGER. NO CLOSE == NO TRADE, so yet again more sell side activity under the 395 level (which was the $SPY OVER/UNDER for the day). Opening Range Breakout (ORB) to the downside, SELL Targets #1 & #2 were hit before 1130am, and SPY expressed range/chop price action until the 1330hrs move back over S2 and push all the way back to the RED SELL TRIGGER at 394.37 before selling back off in Power Hour
AMEX:SPY
by VeteranWS
Continuing Updated Renko Trading StrategyIncorporating a timeframe into the Renko Strategy The Renko charts on Trading view with the plan that I'm enrolled in will allow for a Renko chart's timeframe from 1 minute to 1 day or longer. Although Renko charts are supposed to factor out time, a timeframe is still used to 'set' the block which is an important concept to the trading strategy When publishing an initial idea in TV, you have to have a timeframe of at least 15 minutes. This isn't what I typically use but do so to accommodate TV. On individual charts, I will use a TF between 5-11 minutes depending on the market's volatility. If the timeframe is set to a small number, the Renko block will be set sooner and could lead to churn in the strategy while having a timeframe set to a larger number will delay the setting of the block which can lead to missed entries or exits. Using a combo of larger block sizes and higher timeframes of 5-11 minutes have seemed to provide good setups for the option trading strategy I use (buying Puts/Calls simple strategy based on market direction) The web has good articles on discovering patterns and levels of resistance/support using Renko charts. Another important concept with good discussions on the web is pivot points ( pivotboss.com ) My current strategy is to combine the current configurations of Renko charts with their weekly counterparts with yearly pivots (traditional and camarilla). In the book on Pivot Points (see pdf), There is an excellent chapter on pivot point analysis and % of probabilities in price action against the levels. I believe that incorporating these yearly pivots side-by-side and the Renko charts and their indicators plus the Linear Regression indicators provide a good foundation for an option trading strategy of simple buying of puts/calls. Referring to the btcusd chart, I've overlayed the 2022 traditional s1 and the camarilla s4 on the Renko chart. Looking at the DEMA 12/20 averages, they're currently split in a bullish position (12 over 20). The 12-May low tested the 2022 S1 level which coincided with the 2nd STD low. This action could be setting up a support level the market could push off. I don't trade btcusd but track it because the market moves 24x7 which provides a lot of training material to learn for other markets.
BITSTAMP:BTCUSDEducation
by mxb1961
1
NASDAQ, Big Picture analysis. Part#2 (The bearish end?)Hey traders. Nasdaq had broken the bearish trend at 12392, we should see how the next resistances might be broken, first bouncing between them and then breaking out the resistances. To confirm the uptrend, Keep in mind how the prices should be stopped on the resistances and the break up the resistances that I have plotted in the chart. Otherwise, we might stay bearish for a while. Also, don't forget the Pivot Point level, the prices should stay on the pivot point level. Checkpoint uptrend. The prices should be bouncing at 12392 or lower until the week pivot point level, without breaking down. The analysis is based on a Fibonacci retracement, pivot point levels, and trendline.
SKILLING:US100Long
by Bekapc
3