Using Daily Pivot Range and Dynamic Pivots - Real World Example
Feb 17, 2005
Target Pair - Pound
Support Pairs - Euro and Swiss
All Times EST
Reversals out of Daily Pivot Range MACD Confirming Reversals
Euro @ 0925 Euro @ 0920
Pound @ 0940 Pound @ 0925
Swiss @ 0945 Swiss @ 0920
1 - MACD reversals provide first indication of move.
2 - All three pairs reversed and exited from their Daily Pivot Range by 0945.
Markets in synch and moving.
Possible targets S1 and R1.
3 - Cable entry @ 8875 off large positive breakout. Wave 1 underway.
4 - Cable encounters resistance at 8900 and makes a double top (5 Min Chart) @ 8907.
If your're in - do you stay in? If not, is this a buying or selling opportunity?
Turns out this was a three (3) wave run and we were waiting for waves 2 and 3 via...
5 - Dynamic Pivots:
Any move with a well defined Hi-Low may be "pivoted." Close = Hi / Low in the calc.
Wave 1 pivot = 8886. Actual Low = 8885 (start of Wave 2) up to 8955.
Wave 2 pivot = 8922. Actual Low = 8919 (start of Wave 3) up to 8951 (nice gift here).
Visually, Fib works nicely. Key level is 61.8 on a "Projection" which happens to be
the golden ratio. The pivot calc is very close, if not exactly at this level, so if/when
we get a reversal in this band, take the trade or enter limit orders if you're feeling lucky.
S1 and R1 targets were hit on Euro and Swiss - but Cable outperformed, as usual.
Regards,
Noises
Feb 17, 2005
Target Pair - Pound
Support Pairs - Euro and Swiss
All Times EST
Reversals out of Daily Pivot Range MACD Confirming Reversals
Euro @ 0925 Euro @ 0920
Pound @ 0940 Pound @ 0925
Swiss @ 0945 Swiss @ 0920
1 - MACD reversals provide first indication of move.
2 - All three pairs reversed and exited from their Daily Pivot Range by 0945.
Markets in synch and moving.
Possible targets S1 and R1.
3 - Cable entry @ 8875 off large positive breakout. Wave 1 underway.
4 - Cable encounters resistance at 8900 and makes a double top (5 Min Chart) @ 8907.
If your're in - do you stay in? If not, is this a buying or selling opportunity?
Turns out this was a three (3) wave run and we were waiting for waves 2 and 3 via...
5 - Dynamic Pivots:
Any move with a well defined Hi-Low may be "pivoted." Close = Hi / Low in the calc.
Wave 1 pivot = 8886. Actual Low = 8885 (start of Wave 2) up to 8955.
Wave 2 pivot = 8922. Actual Low = 8919 (start of Wave 3) up to 8951 (nice gift here).
Visually, Fib works nicely. Key level is 61.8 on a "Projection" which happens to be
the golden ratio. The pivot calc is very close, if not exactly at this level, so if/when
we get a reversal in this band, take the trade or enter limit orders if you're feeling lucky.
S1 and R1 targets were hit on Euro and Swiss - but Cable outperformed, as usual.
Regards,
Noises
