One Down

As I’m in blog mode I might as well post today’s result. A nice win early on and I’m glad the winning trade is out-of-the-way as the UK budget is released later today and god only knows what effect it will have on the market. I don’t believe the two timeframe method would have had this trade as I didn’t see a corresponding signal on 10 or 15 min timeframe. I took +22 as I felt if the down move came, it would test S2 as indicated by TESS and it was nice to be proven right with a fair-sized bounce coming off S2. A maximum of 28 pips was available after spread. Only 3 more of these and it’ll into profit for the week! Gulp!

    • Dawn
    • June 22nd, 2010

    Hi John,
    Well done to get the first trade – as you say, we needed it after yesterday!
    I’ve just been puzzling over your S2, as mine is nowhere near, but I suppose it’s because I’m in UK trading UK times? I can’t see any clear reason on my chart why it stopped where it did on that trade, apart from that it was testing the daily low.
    Do you think that’s why our pivot points disagree? Hope I havent got anything set up wrong!
    Thanks, Dawn

    • Dawn
    • June 22nd, 2010

    Hi John,
    It’s at 1.4610, DP at 1.4808. At the moment prices are hovering between yesterdays low (1.4737) and yesterday’s close (1.4753) according to my charts. This is strange!!

    • Mitch
    • June 22nd, 2010

    Hi John, first post but have been reading your blog for a while. I too have the same pp as Dawn – cant see why.

    • Hi Mitch,

      Thanks for stopping by. Always glad to have new readers posting.

      It must be to do with the fact I’m in Aus, however I always had same pivots as everyone else in Dubai so not sure why it’s changed now!

    • Mitch
    • June 22nd, 2010

    Perhaps you need to have your data time offset differently – my feed is offset by 5 hours as it is coming from the states, not sure what yours should be “down under”

    • Mine are offset by 14 which is correct. I’ve found the problem! I right clicked on pivot points and my daily end bar time is 00:00 local time, not US time which means my pivots are calculated off wrong time. Weird though how price seems to stop at my levels though. It always seems to reverse off R1 and S1. I’ll keep an eye on both.

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