Above is a my hourly chart for cable,last friday selling preesure bring cable to the downside exceeded 161.8 fibo extension at price 2.0186 from the highest peak around 2.0579 at hourly chart,then i think we could see a pullback toward 2.0261 first at 38.2 retracement while the short term bottom has been completed at 2.0145.we could long first to aim 2.0261 as a first take profit and 2.0333 as a 2nd target,stop loss just 50pips or 70pips from entry point and don't forget to trailing your stop loss after gain 50pips and above.

hello,

i see a double top pattern at my daily usd/jpy chart,this is a reversal pattern.i prefer to take a sell position because i think usd/jpy up for correction only,and usd/jpy could resume the downside target around 161.8 fibonacci level at 104.26.while the risk reward is good for sell position,i think 50 to 70pips stop loss is enough.adx show a weak bearish momentum then my reason for selling just for double top pattern,then the correction is complete base on my technical view.u should leave a comment or your opinion too.tq all and happy trading;)

i see a bullish abcd pattern complete at uj daily,if the hammer close today..we should take a long position for a next week strategy..possible a correction sooner or after,my 1st take profit around 109 and my max profit around 112.stop loss below 107.55.ok all happy trading and good luck!!

I see a bearish abcd pattern completed at cable weekly.as long as 2.1132 hold,cable should try to reach 1.7347 as a my first aiming at 61.8%..this is a long journey,if u have a comment or opinion please leave a comment.ok all happy trading and good luck;)

There is no sign for cable reversal yet.Now cable break 1.27% area..then reach till 2.0170 currently high,if 1.27%=2.0916 hold,cable still have a power towards 161.8% around 2.1270.so the probability reversal zone area should be around 2.1270 to 2.200,i will waiting up there to selling cable again..My previous entry around 2.0920 hit my stop loss at 2.0970.nice stop loss.hehe:D

5nov 2007

look like usd/chf would perform bullish butterfly pattern soon.Although the downtrend still have a energy,but i think we will see cs reversal patern around 1.1467 or maybe after kissing the last support around 1.12++..So my opinion is waiting to take a long position after or before going thru 1.1467.first target around 1.1960 and stop loss just 45pips..buy limit around 1.1470,1.1450 or last 1.12++.Dont forget to trailing your sl after gain 100pips to secure your pips..ok all happy trading;)

20ct

Sorry,cause previous on 31oct an error has occur as i use fibo with line chart and cs.maybe i put at a wrong place..so today i want to update cable again.I see base on my chart,berarish butterfly patern possible could be complete around 2.0914 area..so base on harmonic trading..we should sell limit at 2.0914 to 2.0944 and stop loss just 50pips..target around 2.0031 and dont forget to trailing your sl after gain 100pips..ok all happy trading;)

31oct2007

I see a bearish butterfly pattern possibly would be formed at daily cable.1.27% complete around 2.0808..If there have a strong reversal signal..we should take a sell position up there.While weekly pivot at 2.0451 hold,cable still have a strong momentum to hiking hike again.Further aiming for cable are seen around 1981 high 2.0770.My opinion cable will try to reach 2.0770..my strategy sell limit cable arond 2.0770 to 2.0800 stop loss 2.0850 take profit 2.0250 or 2.0050..good luck;)

i got cable pivot range for this week from 2.0113 to 2.0211.Base on trading with the pivot range,the price remains to downward.I would like to sell cable,my first target around 17august high at 1.9935..my strategy would be change automatically if price break the highest weekly pivot range at 2.0211.Ok all happy trading;)

3sept 2007

Today i got a weely pivot range from 2.0095 to 2.0137,base on trading with the pivot range,the price bias to upside again.my strategy this week,waiting the price to console around 1.9880 to 1.9905 then buy again till price break around 2.0450 to 2.0600...i will sell cable from 2.0095 trigger toward 1.9905 stop loss 2.0137,the correction will confirmed when 2.0095 breakout only,don't sell if price still hold above 2.0095.Ok all happy trading and good luck:D

28august

I got a weekly pivot range for cable 1.9939 to 2.0067,the price is bias to upside base on trading with the pivot range,however i will wait price consolidate first,beware if gu try or enter the range,then wait the breakout.Buy cable only if price bounce back from 2.0067 and take profit around 2.0450,stop loss 1.9939 sell cable if price break 1.9939 and take profit around 1.9635 and stop loss 2.0067.Dont forget to trail your profit after gain 100pips.ok all happy trading:D

20august2007

I got a weekly pivot range this week from 1.9862 to 1.9954,base on trading with the pivot range cable bias to down when trading below the range,and bias to up when trading above the range,look like short term bottom has been placed at 1.9652.i prefer to long cable tomorrow,my strategy this week will waiting till the cable break 1.9954 for buy position,my sl at 1.9862,my target 2.0150.i will trailing my stop loss after gain 50pips.But if price fail to break 1.9954 my strategy would be change automativcally.Ok all happy trading:D

16august

Today i got a 3days pivot range at 1.9941 to 2.0055.Base on trading with pivot range price bias to downside.As long as 2.0055 hold,cable still have a risk to decline.In the near sight,cable should end the downside today around 1.9780.I dont take any position yet because the forecast data about retail sales gbp is bad.So the price remain to further decline.I will only buy cable if price break 2.0055.Now maybe just hunting to scalp around,good luck and happy trading:)

hello thanx for dropping by,seems price end the downtrend around 1.9860 in the near term,i just take a buy position at 1.9880 today,my first tp around 2.0050 and long term target around 2.1000,stop loss 1.9800.i would like to trailing my stop loss after gain 100pips. this signal not base on pivot range..just my trial with a small risk system..do compare with your own analysis,i will update tomorrow again base on 3days pivot range.

13august2007


Today i got 2.0252 to 2.0306 as a pivot weekly range,base on trading with pivot range,market bias to downside,anyway for the best entry,please wait till the london market open or before us market open.Look like bullish gartley at 4hour and doji candlestick patern at daily.I dont want to explain detail about gartley or doji,seems market not stabil yet.I will wait to buy cable only when the price break 2.0306..if price fail to break 2.0306 then reverse till break 2.0252 further decline could be seen around 2.0100 to 2.0055.Meanwhile if 2.0306 break,cable have a high potential to try 2.0397 first,if break furter upside is perhaps around 2.0450 before the highest around 2.0677.

Today i loss a small amount at cable.This is a second loss with the signal on this blog.But i won 20 positon before,u can see from my previous post.What i see from previous strategy,pivot could be never loss if i use trailing stop loss,overall trading still in profit,maybe i should reduce the risk in the next signal.As long as profit bigger then loss,i should remain to use pivot range.If you have an idea and anything,please leave me a comment.

best regard,

jutawan fakir

calling calling agressive trader

buy gu 2.0290 stop loss 2.0270 take profit 2.0450

This signal not based on pivot range but i think a correcttion has completed.So i try to buy pound with a small risk and big reward..anyway happy trading and goodluck!!!

Todays i got 3days pivot range for cable is 2.0308 to 2.0348,when trading base on 3days pivot range market bias to upside,further rise could be seen around 2.0450 as a first target and 2.0650 maximum target for this week.My strategy today wait if cable try to enter the range from 2.0308 to 2.0348 first,if price get into the range,waiting breakout,if break 2.0348 i put a buy position,if break 2.0308 i put a sell position.However,if price fail to get into the range,i put manually buy position as low as i can,my 1st tp at 2.0450 and max tp for this week around 2.0650.Stop loss at 2.0300.Happy trading and good luck!!!

For those who are new visitor on my blog,i would like to inform here that my signal will update 2times/week.Usually on monday and thursday before london market open,i prefer to give my signal for cable only.My trading signal base on weekly and 3days pivot range.I use weekly pivot range on monday and 3days range on thursday,sometimes 1 use 2days range.You should see the formula calculation about pivot range at my previous post om 24june2007.see archive...

Now cable break the last pivot weekly range at 2.0320,my strategy changed automatically,further downside could be seen around 2.0150.Previous,cable make a double top formation at hourly and 4hour chart as a london open.Since cable break the range,then sell trigger comes at 2.0320,my stop loss at 2.0382 and my target around 2.0150..ok all happy trading!!

Above is daily chart for cable,i got a weekly pivot range at 2.0320 to 2.0382,base on trading with the pivot range strategy,price bias to upside as long as last range at 2.0320 hold.First target to upside shoud be around 2.0567,watch out the price action after london open tomorrow,currently the highest last week reach at 61.8 fibo retracement from 2.0652 to 2.0180 at the daily chart.But i stick with the pivot range strategy,my preference buy limit at 2.0380 or manually as low as i can.stop loss at 2.0320 first tp=2.0567,trailing my stop loss after gain 75pips.If price breaks the lowest range at 2.0320,my strategy will change automically.Ok guys,happy trading and good luck:)

Im so sory coz forgot to update about 3days pivot range yesterday,i got 3days pivot range 2.0294 to 2.0309..Base on 3 days pivot range strategy,market bias to upside.While the pivot weekly range still 50/50.Previous strategy still valid when depending on weekly pivot,just wait 2.0318 breakout for sell and maximum target around 2.0055 to 2.0100 and the stop loss at 2.0450.We have an important data tonight,NFP will be release on 8:30pm malaysia time.Adp show the result is very bad,maybe NFP instead of that..hee...anyway nobody knows till the data out,My strategy today just stay aside,there have a conflict between weekly pivot and 3days pivot,i will get in the battle only after the break out 2.0294(3days range) or 2.0318 (weekly range) for selling cable.Ok all happy trading and dont forget to share yor ideas.

Today cable entering weekly pivot range succesfully,currently cable break the sell triger base on weekly pivot range at 2.0318,my preferance today,i would like to Sell gu around 2.0318 to 2.0350,stop loss 2.0374 to 2.0450,take profit 1=2.0238 2=2.0187 3=2.0079...hapy trading:D

Last week cable fall sharply and break 38.2 fibo line at daily chart,this week i got a weekly pivot range from 2.0318 to 2.0450,base on trading with pivot range,the price still bias to downside,as long as price hold below the range.I prefer to selling cable this week,watch out when cable try to enter the weekly range first then the chance should be there,anyway i will update my signal before london or us open.Look like medium top has been formed at 2.0652 currently,next target should be 50% fibo on daily chart and max around 61.8=2.0055.

I've loss a small amount today,The moral of the story is stick with the trend,don't try to against the trend..heee..my entry at the wrong place cause it is before s3,while the pivot range avoid me from take a buy position but i take the risk..eheh,nevermind,we loss and we learn,the market never away from me,tomorrow and after still have a chance.See u next week and hapy trading:)

I have no idea todays,pound sterling reach till 2.0352,now cable far away from the 3days pivot range at 2.05++,momentum still to downside,but i've tried to buy as cable try to break the lowest currently..As long as 2.0353 hold,the price should retry to break 2.0400 and above.Buy 2.0365 sl at new low,i put,2.0340 and my first tp 2.0400,2nd tp 2.0435 and 3rd 2.0500..

cable update us open

I've already take profit with my selling off pound..now i try to buy gu at 2.0440 sl 2.0400 and take profit at 2.0540 or above,i just try with small position because a strong bearish situation currently,possible corection is complete,and now gu should retry high again as long as 2.0403 hold..hapy trading for all:D

hello all,


Todays,i got 2.0557 to 2.0568 as a 3days pivot range,means cable still bias to down,so the strategy today,sell cable when the price try to break the pivot range,my sl at highest range 2.0568 and my target araound 2.0464,at the 10point of the lowest weekly range,if price break 2.0454 we should waiting the price to reach around 17july high= 2.0403.Alert if price break highest 3days pivot range=2.0568,it will trigger a buy position to try highest before at 2.0652 and my strategy would be change automatically.While the trading is high risk,you should discipline with the plan,there always have a chance.Do compare with your own analysys and happy trading;)

gbp today



At this time i think cable should make a correction deeply,i got 2days pivot range around 2.0608..we should sell cable after bounce from a lower today.i have sell already at 2.0605 my stop loss 2.0635 and my target at 17july high around 2.0403..dont forget to trail your sl after gain 75pips..good luck and hapy trading:D

Summary for cable this week,here i will explain how to count the pivot range again,firstly, count high+low+close/3 for last week,so we get 2.0585+2.0323+2.0551/3=2.0486,so the normal weekly pivot for cable is 2.0486.Now we count a second value,H+L/2..we get 2.0585+2.0323/2=2.0454.Then we count a different between normal weekly pivot and second value,we get 2.0486 - 2.0454=0.0032

pivot range?

The formula, normal pivot-/+ different value=pivot range

the range is 2.0486-0.0032 to 2.0486+0.0032

Then we get the weekly pivot range is 2.0454 to 2.0518

How to trade with the pivot range?

Technically the price is bias up when market above the pivot range and bias to down when market below the range.From the calculation above we should long,and target to the next resistant,stop loss at the last range=2.0454.If you want to sell you must wait the price break out 2.0454 and the stop loss at the highest range=2.0518

Dont forget to monitor the market with the candlestick pattern for any possiblelity.

my strategy today,i prefer buy dip,buy limit 2.0535 stop loss 2.0454 and the maximum target at r3 monthly=2.0695 or around 2.0700.Please use a stop loss to secure your profit.

I will update soon if have a reversal signal for cable.Untill this time,i dont see anything.Happy trading and goodluck;)

*Note:the picture above is daily chart for cable

I got 3days pivot range from calculation high,low and close along three days trading,the result as at the chart above.You should get the formula to calculate from my first post.Look like cable start to make a correction first,but i stick with trigger base on pivot range,i should take a sell position after 2.0434 break,my sl 2.0496 and my target at weekly pivot 2.0267.By the way,current situation still bullish base on 3days pivot range,so alert if price break 2.0496,i put a buy position where my sl at 2.0443 and my target at r3 monthly 2.0688.

Happy trading for all.Please post your feedback or idea..thanks

Today i think my strategy still valid,buy limit before not executed so i put manual position yesterday.Just trailing my stop loss for cable.Watch out ppi 8:30pm malaysia time,with the forecast bad for usd,cable and euro should hike again,anyway be careful if u not have a position yet,wait till actual data release.Don't be hasty.The chance is alaways there:)

Look at the daily chart euro above,candlestick show doji means indecision between buyer and seller,meanwhile the price is above pivot weekly range show the price remains to try high.Base trading on pivot range,we must wait 1.3703 before take a sell position.maybe we must wait 1day to confirm action with doji.

My strategy for eu this week,buy dip or buy limit at 1.3735 and my first target r1 monthly1.3921 stop loss 1.3703.dont forget to trailing stop loss to secure your profit,i will update a daily signal for euro before us open..happy trading!!

Above is daily gbp/usd chart,daily candlestick formation show the bullishness is still strong,look like rest and hold situation.I count my weekly pivot point is 2.0231 to 2.0303 means the price bias to upside,there is no reversal sign yet,and further rally should continue.We could see 2.0565 as a next target.

My strategy this week,buy dip as long as 2.0231 hold.The best is buy limit at 2.0310,stop loss 2.0231 target 2.0565..trailing your stop loss after gains 100pips to secure your profit.i will update daily signal tomorrow after a london open.

cable update malaysia time 10:25pm 11/07/2007

sell limit gu 2.0355 ,sl 2.0375 tp 2.0315

sell limit eu 1.3775 sl 1.3805 tp 1.3760

hapy trading!!!

Today my strategy still same like yesterday,the key is at weekly pivot range about 2.0117 to 2.0131,meaning the price bias to up again,anyway if price break the lower weekly range at 2.0117 i prefer to sell gu and maximum profit should be 1.9950,sl at 2.0135.Trailing your profit for the lower risk.Meanwhile,be careful,cable is still bullish and i dont see a strong reversal yet,just at the weekly show shooting star,but still need bear confirmation this week.

Cable update 7july2007 with the pivot range about 2.0117 to 2.0131,while daily pivot gu is 2.0102,by this situation,technically gu should try high with the opening price above daily pivot and the daily candlestick at the chart above above resembling hammer.At this critical point where there rally for cable look like exhausted and the conflict with the daily pivot and hammer ,i consider for waiting breakout and monitoring candlestick hourly closely.I'm not going to take big profit,just secure my position,weekly candlesticks show shooting star,it sign reversal and maybe the top has been performed at 2.0207.Anyway i think gu should retry to break highest,maybe the best potential to sell if have a strong reversal there.

My strategy today,waiting breakout 2.0131 for buy pound and my 1st target at 2.0191 at wekkly r1,dont forget to trailing stop loss after gain 25pips,sl at 2.0102 at the daily pivot.If i want to sell gu,i prefer to waiting tomorow,or today the price break the lower hammer at 2.0056..where the 1st target point is around 2.0010.

Hello all,This is my first post. I've been reading Trading Psychology with much interest but I haven't been able to participate due to issues with my login. Now that it's rectified, I'm glad to be able to share some of my thoughts on a subject that is so important.Yes, discipline is of critical importance and is the key to successful trading. Without discipline trading is just gambling, and gambling, in the long term, is a no-wiin proposition; you will lose. Consider this: TRADING IS PSYCHOLOGICAL WARFAREChances are you have felt the pain and anguish associated with getting trade results that you don’t want. You’ve probably lost money, you’ve seen trades that seemed perfect blow up in your face; and you've watched your portfolios shrink like serran wrap on a hot stove. Well, trading is not for emotional dummies, it is psychological warfare. You may think that the market forces are against you, and that you are doing battle with other traders; well to some extent that is true, trading is a zero sum game and for every winner there is a loser. Every year hundreds, perhaps thousands fall by the wayside because smart traders have taken their money – in some cases all of their money. But they are not who you must be wary of. The bottom line is that you’ve got to do battle with, and over come, “you” first. Trading in the financial markets is arguably the single most challenging business venture on which one can embark. Not because it offers the possibility of large gains and losses. No, what separates trading from other forms of business, is that at each moment of choice, each decision while in the trade involves immediate gain or loss and therefore pleasure or pain. This prospect for most people ignites either fear or greed depending upon which side of the order flow you're on. And why such an extreme case of emotions? The answer is, because we’re talking about MONEY.

Read more at http://www.elliottician.com/forum/showthread.php?t=79

Today we have a big news about interest rate for pound,market forecast at 5.75% while the previous data is 5.50%.With the vote 5-4 from mpc and surveying by bloomberg,BOE probably hike the rate.technically with the trading base on pivot range,i put a 3days range where i labelling with blue label.The range is about 2.0124 to 2.0148.With the shooting star on daily gu,and opening price below the daily pivot,gu maybe going down,but currently price is above the 3days pivot range,so there have a conflict,The best way waiting for the announcemet from boe at 7pm malaysia time.

My strategy today,waiting actual result from BOE,when the hike rate i would buy pound and my target is 2.0232 at the monthly r1.But if no hike,i prefer selling gu after a breakout 2.0124 and my target around 2.0090.

Above is hourly gj chart,where the weekly pivot range i highlighted with the blue label,245.87 to 246.77..When trading base on pivot range,the price is bias up.meanwhile candlestick hourly show dragonfly doji,the buyer comin in the last,but not enough to up more.By the way this week i think it will continue up,just buy stop after hourly trendline break at 247.45,or you can wait more lower price.The first target for this week is 250.67 and sl at the last weekly pivot range 245.87..

Makes money with forex

Is it easy,hee...i guess some of you just wasting your money..maybe me too..hahah
erm,I want to share something about trading base on pivot range.I'm like a simple,nor a various indicator in my chart,its makes horror,the more i put,the worse i got..huhu..I think everyone knows about pivot trading.It's simple and easy,i dont want to talk much about pivot,so we continue with pivot range rite,more fun and profitable,easy to learn and i think newbie could understanding it easily,the pivot range really works with me...hee

The rules is simple,4eg,we look at pair gbp/usd weekly

1. first,calculate pivot value,high+low+close/3=pivot,refer candle 24/6/2007,so 2.0084+1.9928+2.0080/3=2.0030
2. Then count a second value,the formula is high+low/2=2nd value,so 2.0084+1.9928/2=2.0006
3. Ok now count different each others,2.0030-2.0006=0.0024
4. Last we could count pivot range,just (-+) a pivot with the differ value,2.0030-0.0024=2.0006 dan 2.0030+0.0024=2.0054..

The conclusion from the calculation above i got the weekly pivot range for gbp/usd is 2. 0006 to 2.0054,means market bias up when price trading above the pivot range,and bias down istead of that.The pivot range not suitable for weekly only,you could do with what you prefer,even daily range,3days range,monthly or 60days.There are so many style trading with pivot,i will post more soon.Knowledge about candlestick give u more sensible about market,more accuracy when u combine candslestick pattern,pivot,suport and ressitant..

My strategy for gbp/usd this week

Buy limit 2.0064,sl 2.0006 take profit =2.0205 or trailing after gain 75pips.