Good Morning,
Decided to wait on this pair as my first short was stopped at entry. Short NZDUSD again at daily 11%.
Trade protected. Very wicky wacky market.
very wicky wacky indeed, the higher interest rates provided by the nzd/usd tends to make the gravity of the pair favor nzd
Good Morning All,
I am short the NJ @ Weekly 11%.
Stopped at entry.
Yet another breakeven trade. Long AJ at daily 11% and pvsh low.
Dear BANK,
I have just found your strategy and I believe it is wonderful. Unfortunately, the pictures you attached on imageshark are not avaliable anymore. Without picture, it’s a bit hard for me to understand… For example, you said “The high of the pivot low candle becomes support”. I am not so sure what a pivot low candle is. Could you please renew the image link, or could you please explain some more?
Thank you in advance.
- wccmcd
Hi Guys, I abandoned you for a while. It is mainly work so have not really been trading. Getting back in the swing.
Welcome back emeraldorc. Can you answer the question above? I can’t meet BankDaPips here.
Pivots are simply turning points signified by a low followed by a lower low, followed by a higher low. E.g. A low 1.6700, 1.6690, 1.6705. This will be a pivot low on your chart.
Hi guys/gals,
Sorry for the out time, I have been in my quiet little lab. I see emeraldorc has answered your questions.
Thank you emeraldorc. To be honest I am still confused… seems I can only understand through picture, sigh. But, thanks very much, anyway.
Hi wccmcd,
The pivot bar is the middle bar in a 3 or 5 bar structure, for this thread 5 bars, and usually hint reversal.
In the bearish pivot bar structure, you will have two bars on the left with lower highs, then the middle bar with the highest high, then two bars on the right with lower highs than the middle bar. You can use fractals to help you identify these bars. What we do here is, once price closes below the low of the bearish pivot bar or pivot swing high we go short as close as possible to the PVSH low.
Long on the Euro at present. I expect a retrace at 1.3378 but it should continue higher.
We shall see.
Thank you very much BankDaPips. Now I think I understood your idea. Thanks for the nice picture you attached, it is very clear.
Nice setups Bank!
Hey, thanks swallowtail!