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.