MISSED PIVOTS

[BambinoFlex]

In essence, with the Zero line method. In forex, not sure other markets, price RANGES A LOT. To the point that taking profits in the move of one leg, no matter the time frame, should be the goal. Otherwise, you do indeed fall pray to being "zeroed" out. Almost every day, in a discord channel I'm a part of I see the message "I got stopped out at break even" and "break even is better than a loss" but all I read is "I gave back profits" and "Zero is better than negative."

For those that move stops to breakeven because you're basing your bias on a larger time period, wait a day or two to move to break even, because the market will try to attack your entry a few times a day.

[TheRumpledOne]

TRO_001.png (51.04 KiB) Viewed 3378 times

I attached the template BUT... you must have the TRO2017 donationals to use the PRICE TRAVEL ANALYZER.

Nice work, BambinoFlex. Thanks for sharing your research.

[BambinoFlex]

TRO_001.png

I attached the template BUT... you must have the TRO2017 donationals to use the PRICE TRAVEL ANALYZER.

Nice work, BambinoFlex. Thanks for sharing your research.

Thanks TRO! Appreciate it, glad it makes sense.

[BambinoFlex]

Thinking about the monthly chart, I look at CHFJPY, same pair as mentioned previously. The monthly pivot has been missed. Looking at that as my bias, I can "see" the zero lines MO talks about. He says "trade in the direction of profit" well profits seem to be sitting from R1 to PP. Can we expect price to move this week toward the pivot (doesn't mean it will get crossed this week)? Effectively doing a monthly Rat Zone, a Z Line, and a Pivot Fade. Could be! But this is trading and anything can happen. Nonetheless, I have my bias and it makes sense.

[TheRumpledOne]

Funny, I woke up with the thought I should look at this on the weekly and monthly...

TRO_001.png (56.65 KiB) Viewed 3268 times

TRO_002.png (57.77 KiB) Viewed 3268 times

Looks like a winner to me!!

Updated template attached,

[TheRumpledOne]

TRO_001.png (60.16 KiB) Viewed 3265 times

And H4 is a winner, too!!

NOTE: you have to specify H4 as myPeriod and TestPeriod in the inputs OTHERWISE the indicator uses daily pivots for chart periods less than Daily.

[TheRumpledOne]

BambinoFlex: check your PMs.

[BambinoFlex]

Never thought about the 4hr but I will definitely look into it, good trading opportunities!

[BambinoFlex]

Had NZDCHF Opened from Last Friday. Was targeting Weekly pivot which is above, but decided to take profit at the daily pivot instead since price broke previous day low. In the beginning, I was greedy and I wanted more pips, but crossing the pivot is sufficient for me.

The hardest part of pivot fades is managing the days pivots are missed. That's where you really need more experience or take into consideration the range.

I entered CHFJPY, targeting the monthly pivot. I looked at the previous bull run at the beginning of the month and the range is sufficient in 5 days for price to return back to monthly open. It's a long shot, but it is in the real of the probable.

[BambinoFlex]

Entered GU long, pivot bias. Price has already passed S1. For the past 53 days that opened below the pivot, 40 days had a higher greater than the pivot point. With the low at S1, we are still looking at a good pivot fade (no steam roller). I exited my CHFJPY trades yesterday, might be a May missed monthly pivot for EU and CHFJPY.