Using Pivot Points for Market Ideas

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BambinoFlex
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Re: Using Pivot Points for Market Ideas

Postby BambinoFlex » Mon Feb 21, 2022 12:21 am

TheRumpledOne wrote:TRO001.png

TRO002.png

TRO003.png

I ran the price travel analyzer for daily, weekly monthly.


Another way to look at those daily, weekly, and monthly highs is to call them Z-lines. Those highs usually coincide with smaller tf ranges. Not sure if Alias or others would agree, but that’s how I understand z-lines and that’s how I can “see” that there is a potential edge to exploit.
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Re: Using Pivot Points for Market Ideas

Postby BambinoFlex » Mon Feb 21, 2022 2:22 am

TheRumpledOne wrote:
Market open, charts updated.

I updated the indicator.


Thanks TRO, I think I might have found a great use for it.
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Re: Using Pivot Points for Market Ideas

Postby aliassmith » Mon Feb 21, 2022 3:34 am

BambinoFlex wrote:
TheRumpledOne wrote:TRO001.png

TRO002.png

TRO003.png

I ran the price travel analyzer for daily, weekly monthly.


Another way to look at those daily, weekly, and monthly highs is to call them Z-lines. Those highs usually coincide with smaller tf ranges. Not sure if Alias or others would agree, but that’s how I understand z-lines and that’s how I can “see” that there is a potential edge to exploit.


So your hypothesis is that pointy places are zlines?
Technically a zline is where entries were made.
Entries were definitely made at pointly places and liquidity can still reside there.
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Re: Using Pivot Points for Market Ideas

Postby BambinoFlex » Mon Feb 21, 2022 3:38 am

Alright, new week. Here's a pair that caught my attention. In black, I circled the two lines I'm interested in. I shaded the area as part of what I consider the weekly range. I'm not after exact points, I'm just looking at these two weekly lines. Currently, we are working with weekly, monthly, daily extremes. Very similar to what MO would mention...Same ideas, different way of seeing things.

By process of elimination, I want to be left with one of those lines. I will let the market do its thing. Currently, My expectation would be weekly R1 to be crossed and I can fade toward the weekly pivot. If that happens, I will circle back and show how I enter based on the smaller charts.

Many will look at this and think the shaded area is rather small. This is because most traders that I've seen have an incorrect perception of time. MO mentioned something along the words of "Price Moves slower than you think". This is true.
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Re: Using Pivot Points for Market Ideas

Postby BambinoFlex » Mon Feb 21, 2022 3:51 am

aliassmith wrote:
BambinoFlex wrote:
TheRumpledOne wrote:TRO001.png

TRO002.png

TRO003.png

I ran the price travel analyzer for daily, weekly monthly.


Another way to look at those daily, weekly, and monthly highs is to call them Z-lines. Those highs usually coincide with smaller tf ranges. Not sure if Alias or others would agree, but that’s how I understand z-lines and that’s how I can “see” that there is a potential edge to exploit.


So your hypothesis is that pointy places are zlines?
Technically a zline is where entries were made.
Entries were definitely made at pointly places and liquidity can still reside there.


Yes, my understanding is that z-lines is where traders entered and have most likely moved their stops to b/e. With that, I would expect those traders to enter at a breakout...have enough floating profit to feel the need to move to breakeven.

Trading toward a previous extreme, would wipe out the reversal traders expecting a larger correction or those placing unrealistic take profits and hoping for price to go back to their highest floating profit. Price takes out previous lows and previous highs. Its the way the market moves.
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Re: Using Pivot Points for Market Ideas

Postby BambinoFlex » Mon Feb 21, 2022 6:51 pm

AUDCAD has crossed weekly R1. Weekly pivot is still on the table. Other pairs have followed suit, either crossing S1, R1, or the Weekly pivot.

After Mondays Move, we see possible extremes being formed (AUDCAD as an example). Depending on todays close, we can expect the same two scenarios.

1. R1 Greater than PrevHigh
Or
2. S1 Less than PrevLow

I drew the scenarios using daily candles. In scenario 1 and 2 I’ve drawn two new days into the future as to what I expect. This is what I understood when MO said something along the lines of “Anything longer than a scalp is based on an expectation of price expansion over time”…Don’t quote me hahaha.

In scenario 1, if you look at your own chart and look at the daily reversals, you will see a similar pattern. In smaller timeframes, it shows up as the head and shoulder pattern. I can simply look at daily candles and imagine how the candles inside that tf behaved. Little nugget there.

Scenario 2 would be the best one if I was looking to short AUDCAD, but if R1 is over previous high, I would expect a new weekly high to form and possibly reverse from that.

This is the market ideas I’m talking about. Pivots allow me to think, see, and work in the “more likely” space.
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Re: Using Pivot Points for Market Ideas

Postby TheRumpledOne » Mon Feb 21, 2022 8:50 pm

TRO003.png
TRO003.png (66.34 KiB) Viewed 743 times


Wanted to see how many times prev high, prev low, R1 and S1 were crossed WITHOUT filtering.
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Re: Using Pivot Points for Market Ideas

Postby TheRumpledOne » Mon Feb 21, 2022 8:57 pm

TRO001.png
TRO001.png (66.37 KiB) Viewed 741 times


Small chance price reverses back through open and close there.
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Re: Using Pivot Points for Market Ideas

Postby BambinoFlex » Mon Feb 21, 2022 9:44 pm

Using the closes with break of previous highs and lows helps me see more.

I was debating on two ideas. Scenario 1 and scenario 2 as picture above your posts.

It would seem that trading scenario 1 would not be beneficial long term. In scenario 1, the candle makes a new high and my expectation of it closing below the open is not the “most likely” scenario.

I never ran those inputs, or if I did, I didn’t spent time analyzing it.

Thanks TRO! You have added a clearer picture
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Re: Using Pivot Points for Market Ideas

Postby BambinoFlex » Tue Feb 22, 2022 1:02 am

AUDCAD still on my list. Today will start the Tuesday London Open. I will be looking at how Asia develops. Game plan will be to enter at the break of previous high. Scenario 1. Expectation is that Wednesday - Friday will offer the expansion I'm looking for
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