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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: 118 since Feb 2012
Thanks Given: 15
Thanks Received: 127

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: 118 since Feb 2012
Thanks Given: 15
Thanks Received: 127


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: 118 since Feb 2012
Thanks Given: 15
Thanks Received: 127

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: 118 since Feb 2012
Thanks Given: 15
Thanks Received: 127

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: 118 since Feb 2012
Thanks Given: 15
Thanks Received: 127


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: 118 since Feb 2012
Thanks Given: 15
Thanks Received: 127


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: 118 since Feb 2012
Thanks Given: 15
Thanks Received: 127

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: 118 since Feb 2012
Thanks Given: 15
Thanks Received: 127

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: 118 since Feb 2012
Thanks Given: 15
Thanks Received: 127


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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