Pivot points - Complete Forex Trading Education

Price Action Trading- The Greatest System.

When I first started trading, I used to add all indicators on my chart. MACD, RSI, super trend, ATR, ichimoku cloud, Bollinger Bands, everything!
My chart was pretty messy. I understood nothing and my analysis was pretty much just a gamble.
Nothing worked.
DISCLOSURE- I've written this article on another sub reddit, if you've already read it, you make skip this one and come back tomorrow.
Then I learned price action trading. And things started to change. It seemed difficult and unreliable at first.
There's a saying in my country. "Bhav Bhagwan Che" it means "Price Is GOD".
That holds true in the market.
Amos Every indicator you see is based on price. RSI uses open/close price and so does moving average. MACD uses price.
Price is what matters the most.
Everything depends on the price, and then the indicators send a signal.
Price Action trading is trading based on Candlestick patterns and support and resistance. You don't use any indicators (SMA sometimes), use plot trend lines and support and resistance zones, maybe Fibs or Pivot points.
It is not 100% successful, but the win rate is quite high if you know how to analyse it correctly.
How To Learn Price Action Trading?
YouTube channels- 1. Trading with Rayner Teo. 2. Adam Khoo. 3. The Chart Guys. 4. The Trading Channel (and some other channels including regional ones).
Books- 1. Technical Analysis Explained. 2. The trader's book of volume. 3. Trading price action trends. 4. Trading price action reversals. 5. Trading price actions ranges. 6. Naked forex. 7. Technical analysis of the financial markets.
I think this is enough information to help you get started.
Price Action trading includes a few parts.
  1. Candlestick patterns You'll have to be able to spot a bullish engulfing or a bearish engulfing pattern. Or a doji or a morning star.
  2. Chart Patterns. The flag, wedge, channels or triangles. These are often quite helpful in chart analysis without using indicators.
  3. Support or Resistance. I've seen people draw 15 lines of support and resistance, this just makes your chart messy and you don't know where the price will take a support.
You can also you the demand and supply zone concept if you're more comfortable with that.
  1. Volume. There's a quote "Boule precedes price". Volume analysis is a bit hard, but it's totally worth learning. Divergence is also a great concept.
  2. Multiple time frames. To confirm a trend or find the long term support or resistance, you can use a higher time frame. Plus, it is more reliable and divergence is way stronger on it.
You can conclude everything to make a powerful system. Like if there's a divergence (price up volume down) and there's a major resistance on some upper level and a double top is formed,
That's a very reliable strategy to go short. Combinations of various systems work very good imo.
Does this mean that indicators are useless?
No, I use moving averages and RSI quite frequently. Using price action and confirming it through indicators gives me a higher win rate.
"Bhav Bhagwan Che".
-Vikrant C.
submitted by Vikrantc2003 to Daytrading [link] [comments]

Price Action Trading.

When I first started trading, I used to add all indicators on my chart. MACD, RSI, super trend, ATR, ichimoku cloud, Bollinger Bands, everything!
My chart was pretty messy. I understood nothing and my analysis was pretty much just a gamble.
Nothing worked.
Then I learned price action trading. And things started to change. It seemed difficult and unreliable at first.
There's a saying in my country. "Bhav Bhagwan Che" it means "Price Is GOD".
That holds true in the market.
Amos Every indicator you see is based on price. RSI uses open/close price and so does moving average. MACD uses price.
Price is what matters the most.
Everything depends on the price, and then the indicators send a signal.
Price Action trading is trading based on Candlestick patterns and support and resistance. You don't use any indicators (SMA sometimes), use plot trend lines and support and resistance zones, maybe Fibs or Pivot points.
It is not 100% successful, but the win rate is quite high if you know how to analyse it correctly.
How To Learn Price Action Trading?
YouTube channels- 1. Trading with Rayner Teo. 2. Adam Khoo. 3. The Chart Guys. 4. The Trading Channel (and some other channels including regional ones).
Books- 1. Technical Analysis Explained. 2. The trader's book of volume. 3. Trading price action trends. 4. Trading price action reversals. 5. Trading price actions ranges. 6. Naked forex. 7. Technical analysis of the financial markets.
I think this is enough information to help you get started.
"Bhav Bhagwan Che".
-Vikrant C.
submitted by Vikrantc2003 to Trading [link] [comments]

Price Action Trading- The Greatest System.

When I first started trading, I used to add all indicators on my chart. MACD, RSI, super trend, ATR, ichimoku cloud, Bollinger Bands, everything!
My chart was pretty messy. I understood nothing and my analysis was pretty much just a gamble.
Nothing worked.
Then I learned price action trading. And things started to change. It seemed difficult and unreliable at first.
There's a saying in my country. "Bhav Bhagwan Che" it means "Price Is GOD".
That holds true in the market.
Amos Every indicator you see is based on price. RSI uses open/close price and so does moving average. MACD uses price.
Price is what matters the most.
Everything depends on the price, and then the indicators send a signal.
Price Action trading is trading based on Candlestick patterns and support and resistance. You don't use any indicators (SMA sometimes), use plot trend lines and support and resistance zones, maybe Fibs or Pivot points.
It is not 100% successful, but the win rate is quite high if you know how to analyse it correctly.
How To Learn Price Action Trading?
YouTube channels- 1. Trading with Rayner Teo. 2. Adam Khoo. 3. The Chart Guys. 4. The Trading Channel (and some other channels including regional ones).
Books- 1. Technical Analysis Explained. 2. The trader's book of volume. 3. Trading price action trends. 4. Trading price action reversals. 5. Trading price actions ranges. 6. Naked forex. 7. Technical analysis of the financial markets.
I think this is enough information to help you get started.
"Bhav Bhagwan Che".
-Vikrant C.
submitted by Vikrantc2003 to stocks [link] [comments]

Plotting “Bank Levels” - What are they?

Hello!
As always, I have been perusing YouTube for that sweet, juicy free education on forex and interpreting chart data. I am always eager to hear different points of view, and I always like to respect those that trade with levels of significance and price action.
Recently I have stumbled across Paul Langham of ExactTrading (I think that’s his group, haven’t gone to website or anything).
His videos discuss his heavy utilization of “Bank Levels” which he references plotted across his chart. He also mentions “weeklies” and “monthlies” when he does this as well.
Does anyone here know what these are or how they are plotted? Is it simply weekly highs and lows across his charts? By no means do I consider his charts cluttered, but there are just a bit too many lines for it to be the last month/week highs and lows. And he specifically never calls the lines pivots either, making me think they aren’t just larger timeframe pivots.
I would love to just see what my charts look like with Bank Levels, if there is anyone here willing to help me out if you know how to find/plot!
YouTube for reference: https://youtu.be/ttRB_fON1to
Thanks in advance!
submitted by Rich_Foamy_Flan to Forex [link] [comments]

Using Python and Pandas to explore trader sentiment data

FXCM’s Speculative Sentiment Index (SSI) focuses on buyers and sellers, comparing how many are active in the market and producing a ratio to indicate how traders are behaving in relation to a particular currency pair. A positive SSI ratio indicates more buyers are in the market than sellers, while a negative SSI ratio indicates that more sellers are in the market. FXCM’s sentiment data was designed around this index, providing 12 sentiment measurements per minute (click here for an overview of each measurement.)
The sample data is stored in a GNU compressed zip file on FXCM’s GitHub as https://sampledata.fxcorporate.com/sentiment/{instrument}.csv.gz. To download the file, we’ll use this URL, but change {instrument} to the instrument of our choice. For this example we’ll use EUUSD price.
import datetime import pandas as pd url = 'https://sampledata.fxcorporate.com/sentiment/EURUSD.csv.gz' data = pd.read_csv(url, compression='gzip', index_col='DateTime', parse_dates=True) """Convert data into GMT to match the price data we will download later""" import pytz data = data.tz_localize(pytz.timezone('US/Eastern')) data = data.tz_convert(pytz.timezone('GMT')) """Use pivot method to pivot Name rows into columns""" sentiment_pvt = data.tz_localize(None).pivot(columns='Name', values='Value') 
Now that we have downloaded sentiment data, it would be helpful to have the price data for the same instrument over the same period for analysis. Note the sentiment data is in 1-minute increments, so I will need to pull 1-minute EURUSD candles. We could pull this data into a DataFrame quickly and easily using fxcmpy, however the limit of the number of candles we can pull using fxcmpy is 10,000, which is fewer than the number of 1-minute candles in January 2018. Instead, we can download the candles in 1-week packages from FXCM’s GitHub and create a loop to compile them into a DataFrame. This sounds like a lot of work, but really it’s only a few lines of code. Similarly to the sentiment data, historical candle data is stored in GNU zip files which can be called by their URL.
url = 'https://candledata.fxcorporate.com/' periodicity='m1' ##periodicity, can be m1, H1, D1 url_suffix = '.csv.gz' symbol = 'EURUSD' start_dt = datetime.date(2018,1,2)##select start date end_dt = datetime.date(2018,2,1)##select end date start_wk = start_dt.isocalendar()[1] end_wk = end_dt.isocalendar()[1] year = str(start_dt.isocalendar()[0]) data=pd.DataFrame() for i in range(start_wk, end_wk+1): url_data = url + periodicity + '/' + symbol + '/' + year + '/' + str(i) + url_suffix print(url_data) tempdata = pd.read_csv(url_data, compression='gzip', index_col='DateTime', parse_dates=True) data=pd.concat([data, tempdata]) """Combine price and sentiment data""" frames = data['AskClose'], sentiment_pvt.tz_localize(None) combineddf = pd.concat(frames, axis=1, join_axes=[sentiment_pvt.tz_localize(None).index], ignore_index=False).dropna() combineddf 
At this point you can begin your exploratory data analysis. We started by viewing the descriptive statistics of the data, creating a heatmap of the correlation matrix, and plotting a histogram of the data to view its distribution. View this articleto see our sample code and the results.
submitted by JasonRogers to AlgoTradingFXCM [link] [comments]

4 Hour Pivot Point Strategy ⛵ - YouTube How To Setup Wyatt's Pivots Indicator - YouTube Simple Pivot Point Forex Strategy (Using Fibonacci Pivots ... Mastering Pivot Points & CPR (Pivot Points & CPR Strategy ... How to calculate Pivot Point, Support and Resistance - YouTube

2. Pivot points could show you where support or resistance could appear in advance. Especially, if they are weekly or monthly pivot points. In this case you know this levels for whole future week or month; 3. Price action around pivot point allows you to judge about market sentiment. 4. Pivot points touches by the market in 70-80% of cases ... Pivot points were initially used on stocks and in futures markets, though the indicator has been widely adapted to day trading the forex market. Pivot points have the advantage of being a leading indicator, meaning traders can use the indicator to gauge potential turning points in the market ahead of time. Pivots Points are an accurate indicator, as the most market participants are watching and trading these key levels.Part of what makes the Pivots Points so reliable is the fact that they are based purely on price. Pivot points are especially useful to short-term traders who are looking to speculate small price movements (scalping).. How To Calculate Pivot Points In Day Trading - Demark Pivot Points Page 9 - Fibonacci Pivot Points Page 10 Customizing ... and plot style of each of the levels, and the ability to activate or deactivate alerts for crossovers of any of the levels. The following is an overview of the various input settings; *** All plot colors and styles can be customized in the indicator’s properties window Floor Traders Pivot Points: Set to “TRUE ... Usage of Pivot Points. The very essence of trading with Pivot Points is based on the idea that the price tends to reach yesterday's close point much more often than to overcome the previous day range. That's why the most popular calculation period for Pivot Points is Daily. In that context, all Pivot levels play the role of support and resistance. Learn in this complete article what are Forex Pivot Points, a trading strategy widely used by professional traders, and how to successfully trade them. The formula maps out pivot point levels consisting of the pivot, and three levels of support and resistance, and these levels can be traded much the same way as trading from the regular support and resistance levels and trendlines, using a mix ... How to Trade with Pivot Points the right way. You need to learn how to trade with Pivot Points the right way. if you want to take full advantage of the power behind the pivot points. Trading with pivot points is the ultimate support and resistance strategy. It will take away the subjectivity involved with manually plotting support and resistance levels. How to Plot Pivot Points in Your Trading Software. 02/25/2011 3:00 am EST. Focus: FOREX. Discover a fast and easy way to create a pivot point moving average using the popular Metatrader forex trading platform. First off, what is a pivot point? A simple definition from Wikipedia: “A pivot point is a price level of significance in technical analysis of a financial market that is used by ... With pivot points, forex traders typically use the same method for calculating them. Many traders keep an eye on these levels and you should too. Pivot points are especially useful to short-term traders who are looking to take advantage of small price movements. Just like normal support and resistance levels, forex traders can choose to trade the bounce or the break of these levels. Range ... pivot indicator to plot for each of the days on the chart 1 reply. How do YOU calculate Pivot Points? 20 replies. Pivot Points - What hour do you calculate from? 1 reply. How do you get a MA to plot off another MA in an EA? 1 reply. For those of you who trade pivot points 30 replies

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4 Hour Pivot Point Strategy ⛵ - YouTube

My next Day Trading Webinar (15th November)https://drive.google.com/file/d/1ZnMwAwDxBMbeNszyGhmnS-L-rWJM543m/view?usp=sharingFeedback from previous Day Trading ... 4 Hour Pivot Point Strategy http://www.financial-spread-betting.com/course/technical-analysis.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! Combin... Hey Traders! - Thought I'd show you how to setup your MetaTrader charts to look like Wayne McDonell's charts as seen on his Forex.Today YouTube channel. Fore... How to calculate Pivot Point, Support and Resistance #forex #forexlearning visit our website : http://tradewithasimandsajjad.com/ https://tradingnut.com/clayton-allen/ - Full Podcast Interview To compliment his automated trading, Clayton Allen uses a simple Forex Pivot Point trading str...

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