Currently, armed with everything you seem to have discovered, what do you do with this?
regards
Currently, armed with everything you seem to have discovered, what do you do with this?
regards
Well, the main reason behind the question, apart from curiosity, is that I wish to understand the exact values the huge dogs use while plotting weekly points. But also, it's been evident to me for a while now there is a way to exploit Oandas supply to fill trades at a frozen rate over the weekend.
Well, if that is doable, it might be a waste to not take advantage of it.
Go for it.
regards
I very much doubt that'big dogs' usage Pivot points of this mathmatically derived kind in their own trading. Id like to believe that their trading decisions are made on real-world knowledge, Info about orders which are In/coming in to the market and basic opinion.
Should they do work by pivots, lunar cycles and Fibs then.... The markets are most likely random, lol.
Trust me, the big dogs are trading long term, short term, mid term and any other term you can think of. Just zoom into a genuine brief period and have a peek at the manner price interacts with pivot points, and you will see that there are big, big orders set at these levels.
I didnt say they dont...
Well, If price does this with any type of consistancy then what are you doing here? Go make your millions mate.
You'd be suprised how consistant they are sometimes. It's completely amazing.
Ps There are loads people on ff that are making money from forex. Just because you're making money doesn't mean you will stop submitting.
I'd argue against some precision of the typical pivots for the simple reason that specifically banks who are a part of the main liquidity providers on the market have information from within that alters their placement on a constant basis.
The motives for entering or departing positions, the dimensions involved etc. is too diverse as for the retail trader to constantly spot those levels. Yes, maybe a an option expiry at substantial numbers may accumulate additional interest in buying or selling at a certain preconceived point but generally speaking, the buy and sell points as well as the amounts behind maintain varying broadly from bank to bank, from finance to finance based on their company levels that for the outsider can be categorized as random.
The fx market still includes a massive part which is classed outside of speculative interest - making it very tough to predict (or bet in) for no better term (in comparison to stocks by way of instance ).
regards
Hey partner,
I would recommend you to do what I propose and zoom right into a very short timeframe (1m or less), and also have a look at price action around the pivot points. You will see that there is a reaction there nearly every time. I am not talking about 50 pips, or perhaps 20 pips. It might just be 5-10 pips or maybe just a time retracement. You will also observe that very often they will generate a major turning point in the market, giving 20-50 pips. Then examine the pivot points which coincide with s/r, fibs, 00s and trend lines and you will soon observe that a number of these areas are about as near a sure thing as it gets in this market.
View, how I see it is that short term traders put very large orders due to small stops and take profits, so alot of short-term traders collectively almost always create some type of reaction, even if it is simply a tiny bump in the path to where the market wants to go. Its what I like to call'the trader impact', and it is the most consistent occurrence I've come across in the forex market.
I totally agree with you that there are a massive number of different motives aside from insecure ones which push the forex market, but short term speculators can be a power to reckon with when we are all on the exact same page.
Your article scre novice, why act like you know what your referring to when you obviously dont? Are you really on the forum for the purpose of ego or improving your self-image? Is it functioning?
Leon