The correlatation is over 95% most of the time. In fact, when UC deviates from brent oil, it can sometimes be used as a trade signal. Not so easy to pull off in practice however, which is why I would recommend sticking to pivots.

Pivot Trading

Maybe. Still seems like a dangerous way to trade though. I used to do things like that, and at some point it tends to just blow your account. I'm not saying he will blow it, but based on where UJ is sitting I'm not sure that GJ can go all that much ...

Geppy vs. GJscalper - a duel to the death!

Agree with this. Else it would be possible to go from $100 to millionaire in the space of a few months. I guess it isn't impossible, but at lower timeframes price is generally just less predictable, so your edge is smaller. That's just my opinion ...

Geppy vs. GJscalper - a duel to the death!

Here's a trade I'm currently in (I use MT4 only for viewing charts, and Oanda's platform for trade execution). SL at the daily open (just below red line), entered after the bullish reversal candle above the S38. Initial TP target is the the first ...

Pivot Trading

I've been trading this system for about 4 weeks now, with some very good results. Before I learned about pivots my trades almost never went beyond 1:1.5 RR, and lately I've been getting very nice entries yielding 1:2 RR and greater most of the time, ...

Pivot Trading

Most likely yes. Also, if you look carefully there's a harmonic pattern forming. That pin bar on the 1H chart is a bit concerning, however.

Pivot Trading

AN strongly overbought, jobs rally nearing an end and NU is also looking pretty cheap so expecting a retrace. Otherwise i'll short from the R100. image Similar situation on UJ, rally is getting very over extended and expecting the R161 to be the ...

Pivot Trading

JPY appears to be oversold across the board, ZAR/JPY reacting to R100 level now and hoping for a good pull back to the R78 level or perhaps deeper. Spreads are a bit much for scalping, but so far I seem to be on the money. USD/JPY is also turning ...

Pivot Trading

Crude oil is dropping like a rock, should be some good buy opportunities soon at the S38 or S61. Make sure to close out your commodity pair longs before it turns around. image

Pivot Trading

Anyone here trade the odd commodities/futures markets? Just spotted this nice little setup on Wheat (trading with Oanda Europe, so I assume this is probably European/London Wheat futures?). TDI has hit the same level 3 times but price has tracked ...

Pivot Trading

Got into this trade a bit earlier on, used a very small SL of about 12 pips and entered from a pullback on the 5M chart. Going for 1:4 Risk Reward Did a very similar thing yesterday and was surprised how well it worked. These pivots just make ...

Pivot Trading

I'm still new to this system, so I can't say, but I remember that somewhere in the thread Davit mentioned how the R61 is quite important, and how the odds of price reversing increases with each subsequent level... or something along those lines. ...

Pivot Trading

Bull trap over here, price looks to be heading back down now though. Looking over some charts last night, I noticed how good these work as a signal in conjunction with the levels. When the pros are trying to squeeze you out, you know there's money ...

Pivot Trading

My TP target is only about 25 pips here so I'm just looking for a small pull back against the trend. On the daily chart, the current level at R61 is in nice confluence with 61.8 fib retracement of the down swing from Decemeber to April, but there is ...

Pivot Trading

NZD and AUD are at their highest levels in almost 5 months, so it made sense to take a short. Nice rejection candle right on the R61 level and some divergence on the TDI. Hoping I can clear this trade before the brexit turmoil starts tonight ...

Pivot Trading

Just noticed my charts dont line up with Davit's either, gonna have to dig through the thread now and find those settings. Broker candle is set to true, start and open time are set to the default

Pivot Trading

EURGBP at 768, reacting to the S78 level. Some divergence on the indicator as well. Pin bars on the bull side are keeping me on the sidelines for now. Awaiting confirmational break, TDI cross over, and the US open. image

Pivot Trading

USD/ZAR reacting to S61 level, most of the commodity pairs are slightly overextended right now and oil is turning lower so this could be a good long entry, awaiting candle close and start of US session to assess market sentiment before getting in ...

Pivot Trading

Crude oil might hit a wall after this marathon run upwards, if it begins to show weakness its time set sight on those commodity shorts. Took short NU earlier, a bit premature, but fortunately I've learned where to put stops... image

Pivot Trading

This is amazing stuff... I looked over a few daily charts and my mind is just blown. Trading can really be this simple. Thanks for sharing!

Pharley Simple system - Get your levels right for trading S/R