Psych Levels, Pivots, and Trendlines - Resurrected

Im long in Dax now, 50% retracement to the point and engulfing candle. I give it a try. 6 pips SL




edit : Stopped at BE+1

possibility to close with 12-14pips and 2:1 RR ..hmmm

quick 10pips. 5pips SL

EU, Price is moving up, retracement to lvl, 61 fib, you can draw flag and continuation move up 1 to 1, I bought at engulfing, 4 to 1 trade

AU chart, prcie trying to break the range, and makes a false break out, creating expanding triangle, sell at the top, close at the bot of triangle, 2 to 1 trade

This is the trade from harmonic, which called "structure" trade, Break to down side, LL was made, price came back to test resistance level, 3 drive to the top, 61 fib, and 1 to 1 move to the next lvl of support

"Structure" - it is nothing more like lvl of S/R, if price went up, where it will retrace, it will come back to test previous lvl of resistance, which now will become support, all what you need is to figure out what price will do, break the level or reject the level, in order to do that you need to have set of tools, like rsi, ABCD, double top and etc, some thing, that will tell you, that price will reject the lvl, and after that, where price will go, after rejection, it will go to test next lvl, previous high, at this case price made false break out and rejected high.

how to know if price will go up, use HH-LL principle, for trend, or if it is range, price is stuck between two lvls

Look left price leaves you a clue what is going to do, range, price makes HH-HL, breaks the range, finds support at top of range, which is 38%Fib, and keeps going up.

All what you need to have, is set of tools to identify rejection

Look left structure will give you clue

Stechi, you put to much risk in to your trades, look how many times price respected those lelvsl, and you sell right in to your level

Au, Down trend, lvl of SR, false break out, hanging man, harami, confirmation and sell

UC, The same story here, but with up trend

it is the last post, about harmonic, coz it is psych thread, add to those lvls harmonics stuff, and you all set

AU, Could I buy here, after hammer tested low, and engulfing, it already looks like range, and it is possible to counter trend ? no, I can't. coz I cant get 1 to 1. But overall set up is ok

Thx for sharing your knowledge so detailed monocor. Good to have your here on ff.

UJ trade faild, 61 fib, lvl, double bot, stop was hit. Looking to cover that lose

UC trade in progress, range and bat in the range

I have a question to your TL, did the price made a new high, what your TL is representing ?

Update, target reached

And again UJ, new HH, retracement to lvl and 61 fib, engulfing, moved in to BE, target 1 to 1 move