Dollie's Safe Pips Indicator

This is one I've just been watching on usd/jpy, and shows how Guppy can come in very handy in decision-making. The heads-up for this one came whilst price was peaking at the Guppy LT 60ema. As price descended, it was fast approaching the psychological 50 line, so it was worth waiting to see how price would deal with this barrier. However, Guppy was showing a definite inclination to continue dropping, so once price had breached the 50 line (along with the ASH crossing the zero line) plus the very close S1 line (indicating a strong movement), it was time to enter. Price dropped rapidly and breached the 00 line and exit probably should have been at S2, but jumping ship as indicated would still produce a nice profit.
I'm still playing with these psychological 00 and 50 lines, so no trade was involved other than demo-ing.

i hope everyone is getting there share of the green pips this morning. i don't know exactly why (i'm still learning the fundamentals - Pirate you might be able to add some insight) but it has been very exciting. I would imagine any decent trend following system is doing well today.

where did you find that indicator that draws pivots and S/R lines back a month. That would be a great tool for backtesting. I always have that in the back of my mind when i back test and a move just stalls... is it because of that days S/R or Pivot ect...

thanks

jc, I have no idea how to post a link, so all I can tell you is to go to Trading Systems/Pivot Point, Psyche Levels and Intraday trend lines. The thread was started by Acumen, and is well worth a read. Not too long, either!

Indicators are below for anyone who's interested. FXI Pivots automatically draws the pivot points for the day, after moving into position from the previous day. Therefore, you can scroll back and see the points for any particular day. It's a bummer trying to backtest if you're like me and rely on Pivot points, but this little indicator solves that problem.

The other indicator (SDX-SweetSpots1(1)) draws the psychological lines at every 00 and 50 point. They can prove to be very strong S/R lines, especially if they almost or exactly coincide with a pivot point. Prices tend to retrace or consolidate at these SweetSpots, but if price moves through them, then it usually indicates a VERY strong move.

I don't know whether or not acumen is actually responsible for these indicators, but he deserves full credit for posting them on his thread for anyone to download.
Cheers

thanks eye. i've nver really paid attention to the .0000 or .0050 marks. i'll have to look into that.

You're entirely welcome, old chap.

Have a look at acumen's thread. Like you, I never thought about 00 and 50 lines, but his thread really does make you think.

Cheers.

here is a quick 20+ move i just got. Dollie was good and i used the pivot point as my target once i got the feeling the price was moving.

eye - i read that whole thread on psych and pivot levels last night and it is interesting. i'm going to hold off adding all the psysh lines for now but as you can see the price did stall for 2mins at approx 1.9600... very interesting.

also as i type this the cable is has gone long for another 15 pips. oh well there have been plenty of great setups the past 2 days. i hope everyone is doing well.

here is a eur/jpy move i just nailed. notice how the price went down to 157.38 and then back to 157.50 for another stall... i personally think the price is going to hit the support line at the bottom of the screen but for me 30 pips is enough.

As i type the price has gone down to 157.02 towards the support line. I'm still not 100% comfortable basing my trades of these lines yet but i am getting there.

and just as i get done posting sure enough the support line was hit - 100 pips in 15mins. you got to love it!!!! i wish i got the whole thing. maybe i shouldn't worry about posting LOL.

do any of you guys trade with multiple positions and take profit at different times. i have never traded like that but seems to make sense.

Hey jc, very nice examples, mate, and a goodly haul of pips!

The move by eur/usd below was demo-ed, as I'm still getting used to this particular pivot system and those lovely "sweetspots" that are really starting to convince me!

The heads-up indicated by the vertical yellow line was just after RSI2 had crossed below the zero line. The CCI6 crossed shortly after (yellow line) and then it was a matter of waiting for the ASH to cross upwards and it wasn't long coming. Roughly about the same time as the lsma3 entered the orange/blue zone and we were away. You could say that entry was too near the 50 sweetspot, but this is where Guppy earns its corn. It's looking very healthy and widening nicely, so a confident entry was on the cards. The move was VERY strong and price swept down through two resistance lines and three sweetspots before coming to a sudden stop at a major 00 sweetspot. Exit would have been as marked, just before the sweetspot was met. What I like about these candles is the almost total lack of shadows, indicating that this was a VERY STRONG BEARISH movement, with virtually NO opposition from the bulls. (Until it was ambushed at the 00 sweetspot, that is!) From what I've learned about the sweetspots, it seems that if price breaches one, there's a very good chance it will continue on until the next one, or as near as dammit. Alternatively, a pull-back at the sweetspot can, a lot of the time, continue on afterwards and breach the sweetspot at the second attempt. Whatever.......they make great targets!

eye... check out how the price has bounced off 157.00 eur/yen 3 times already. pretty cool!!!

thanks again for steering me to that thread. i wonder how many trades i've been in that ended up being losers because of these pysch lines. at least i'll know going forward to keep an eye on them. it seems they do play a role.

here is a continuation from the post above. check out how the price as been squeezed between the daily pivot and 157.00 line (only 39 pips) bouncing off the two for the last 5 hours. Now for longer term traders this is probably frustrating but for us short term traders using these two lines as support and resistance could be priceless.

I encourage anyone who hasn't to read Acumen's thread as Eyevoltage has recommended to do so. In it he explains why these 00 & 50 lines act the way they do and it does make sense.

Well I got up late today - i've been forcing myself up at 4am US eastern time and it has paid off this week. Its time to sharpen the TOMAHAWK and get to work.

These .0000 and .0050 lines have plainly been of great significance for some time for those "in the know", so it's a bit of an eye-opener when these things are pointed out to you. Obviously, jc has recognized the value of them, as I have, and I can only repeat what he says, and that's to check out Acumen's thread.
Below is a nice example of how these things work. There was about an hour between the first "heads-up" (1st yellow vertical) and the eventual entry (2nd yellow vertical). I was waiting for a candle to breach the .0050 line, but I was hesitant with the first two, due to the Guppy action. In the hour between the yellow lines, the Guppy just didn't seem to want to go down, or that's how it seemed to me. So I decided to wait until the yellow 15ema crossed the .0050 line, and then see what was what. It finally crossed and heralded a lovely long bearish candle, with practically no shadows at all. Then next candle was almost the same, although the upper shadow was looking a bit longer than I would have liked. So as the candle hovered around the .0000 line, I jumped ship, just in case. The sensible thing to do, as it turned out! Anyway, the lsma3 was leaving the orange/blue zone, so that confirmed my decision for me. Have a look at the two magenta rectangles after that, though. After my trade position, price had retreated into the Guppy ST's and then starting dropping again before halting right on the major .0000 line. Price then rose again, and without even stopping for breath, punched right through the .0050 line until, once again, it was stopped in its tracks by the major .0000 line, which just happened to be almost on top of the main Pivot Point, thereby strengthening the resistance.
Jc was right. This sort of price movement suits us short-term bods, but not those who like the longer-term trading.

last trade of the week - a meager 7 pips. All in all it has been a very good week with lots of volatility. I hope everyone got their share.

as for the chart: Dollie was good as were my EMAs and other indicators. I think i have the bands squeeze indicator down (please see http://www.forexfactory.com/showthread.php?t=57426 - Pivot Point Squeeze thread for more info) but am still playing with the other. Anyway, i jumped into this trade only expecting a few pips and used 156.00 psych line as my target. As i type the price is now bouncing around this level. So very cool. I wish I was aware of these a few months ago. Better now then never I guess!!!

Hey everyone! I'm here also but had to go on a little holiday as the pip pirate turned 50. The pirates of old probably never made it to 50 so it feels good. Went to Las Vegas where it was freezing and actually made money with blackjack. Yes it is true. Now I didn't make enough to pay for the trip but it was fun to walk away with cash. I look at it as a great sign for the new year. I'll be up to speed next week and look forward to some of the changes I am reading. We all are helping each other.

Yes I am a pirate Two hundred years too late The cannons don’t thunder There’s nothing to plunder I’m an over 40 victim of fate Arriving too late Arriving too late by Jimmy Buffett

So now I plunder pips

Hi Pirate, and congrats on your 50th. A milestone I left behind some time ago, I'm afraid. Still, they do say that it's all downhill after the 50th, meaning things get easier, I suppose, and I sincerely hope that applies to you, mate.
Freezing in Vegas? I've never been there, but I always thought deserts were supposed to be HOT places, and freezing at night.
As you can see from the postings, jc and I have been busy, so we look forward to you getting back into the swing of things again, mate, and seeing some more of your excellent charts.

By the way, mate, I've seen some excellent NFL games over the last few weeks, but I do wish that the Patriots had a bit more competition. The NFL is in danger of getting boring!

Cheers for now.

i usually don't trade the asian session but after a very slow afternoon (US Holiday) i decided to give it a go.

I tend (unfortunately) to not pay attention to all the us sessions on holidays, so right when I thought it was time to take a break, before AUD opens, I missed that great move that you got. When jpy stock market opens, this could get interesting.

look at this great moved i just missed. i was in a trade for over 30min that ened up being a 10 pip loss so i walked away and got involved in a TV show (prison break) only to come back and see this 100 pip move right to the pivot. AHHHHHHHHHHHHHHHHHHHH!!!!

oh well, there is always tomorrow.

i hope no one was on the wrong side of this move. i decided not to trade between 8 - 9am NY Eastern time today and let the market do its thing especially with so much mainstream news (CNN & MSNBC) talking about the markets this morning.