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Price action Pivot Trading


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Price action Pivot Trading

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  #1 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received

Been a while since I've frequent this site due to busy work schedule. Lately, I was able to free up some time and began trading again. My trading method has changed considerably but the fundamentals never changed and that is price action. I wanted to chronicle my trade here for two purposes. One is to keep myself in check and two is to (hopefully) engage in meaningful conversation with like-minded traders in an effort to improve our trading.

I try to keep my trading as simple as possible. In the past, my performance degraded whenever I try to do too much. Now I've pretty much simplified it to a point that fits me perfectly. The main tools I used are:

- Moving Average (simply for trend direction and floating S/R)
- Pivot Point (my main tool)
- RSI (this is just to spot divergences)

My instrument of choice is /YM. Though I will sometimes trade /ES, /6A, /6B, or /6E.
Time frame is the 15M time frame.

Trading with the trend is a huge factor for me. 90% of my trade should be trading with the trend. I only counter trend trade if the set-up looks really good. I use 50 MA's to define trend.

The basis is to look for price action around pivot points in confluence with other factors (round numbers, fibs, etc) to make my trading decision.

All in all, I cherry pick my trades

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  #3 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received


Contemplating taking a long position on /YM at the moment...

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  #4 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received

Ok first trade for this journal.

Short right off the pinbar. What do I have on my side? Monthly pivot, divergence (not shown), round number @ 1.03.

R:R is 1:1 at 15 ticks.

Just moved stop to BE

This is a 1H time frame trade.

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  #5 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received

Another trade I am currently in on 15min time frame.

Entered at 1579 shortly before the bar closed. The price action was strong towards the upside from this bounce.

dR1, fibs, MA, trend

Risk is 1:1 per usual with 3points

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  #6 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received


DoubleClick View Post
Ok first trade for this journal.

Short right off the pinbar. What do I have on my side? Monthly pivot, divergence (not shown), round number @ 1.03.

R:R is 1:1 at 15 ticks.

Just moved stop to BE

This is a 1H time frame trade.

TP hit +15

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  #7 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received


DoubleClick View Post
Another trade I am currently in on 15min time frame.

Entered at 1579 shortly before the bar closed. The price action was strong towards the upside from this bounce.

dR1, fibs, MA, trend

Risk is 1:1 per usual with 3points

TP hit for +3pts

Done for the day

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  #8 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received

A quick +10 to end this trading week

pinbar + MA + 50's + fib + trend

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  #9 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received

I'm a little hesitant about this potential short since I tend not to hold positions over the weekend.

engulfing + flag + fib + trend + 50's + S/R

hmmm

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  #10 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received


Saw an opportunity for another entry on the 15M time frame for /6A. I believe I will use this entry for my H1 trade. Lower the risk.

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  #11 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received

Hmm weird....I was "banned" from the forum yesterday..

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  #12 (permalink)
 fourtiwinks 
Singapore
 
Experience: Beginner
 
Posts: 206 since Jun 2011
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Hi @DoubleClick,

futures.io (formerly BMT) was down during that period when you logged in. Big Mike has explained in the post below. Cheers..


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  #13 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received


fourtiwinks View Post
Hi @DoubleClick,

futures.io (formerly BMT) was down during that period when you logged in. Big Mike has explained in the post below. Cheers..


Ohh okay that explains it. I was wondering what I did wrong lol

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  #14 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received

/6A trade from Friday stopped out at -10

I knew I shouldn't have traded over weekend

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  #15 (permalink)
 Big Mike 
Site Administrator
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Manta, Ecuador
 
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DoubleClick View Post
Hmm weird....I was "banned" from the forum yesterday..

You would have received an email response a few minutes later explaining the situation, except you've turned off email alerts.

Mike

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  #16 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received


Big Mike View Post
You would have received an email response a few minutes later explaining the situation, except you've turned off email alerts.

Mike

I see, thanks!

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  #17 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received

Two trades. One closed, one ongoing

/6B H1 trade initiated last night. Pinbar and divergence. Just closed out for +24

/ES. Pinbar and engulfing + Montly R1 + Daily R2 + Divergence. A little bit in the red right now.

Two CT trades...I'm not too sure what I think about that

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  #18 (permalink)
 DoubleClick 
California
 
Experience: Intermediate
Platform: MT4, TOS
Trading: /ES /CL
 
Posts: 117 since Feb 2012
Thanks: 15 given, 125 received

/ES stopped out. Looking back, not a great setup at all. Mistake on my part.

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