Pivot Point, Psych Levles and Intra Day Trend Lines | Page 8 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Psych Levels, Pivots, and Trendlines - Resurrected 12,457 replies

Looking for No Lines Pivot Point Indicator 3 replies

Important psych levels 1 reply

Any indicator to set pivot point lines to certain time?? 2 replies

Trading PA. {Psych Analysis}. Please Read. 6 replies

Attachments: Pivot Point, Psych Levles and Intra Day Trend Lines
Exit Attachments

Pivot Point, Psych Levles and Intra Day Trend Lines

  • #141
  • Jan 17, 2008 12:42pm Jan 17, 2008 12:42pm
Quoting ekling
I think im off for today. I dont really like the us-session. So good luck on the e/u acumen and have a good day. Ill be back tomorrow when the eu-session begins.
The US Session sucked today. But that's how the games played. The EU session is the best the majority of the time. Have a good day... night my friend.
  • #142
  • Jan 17, 2008 3:47pm Jan 17, 2008 3:47pm
The flag fell.

We drew our flag during the session and waited until it broke.

It eventually broke south.

I didn't take the trade... too late in the day for me but it would have been good for 20-30 PIPS.

A great stop would have been just above the PP, which is a psych level, a trend line and a fib level. (Now that's some serious confluence)

  • #143
  • Jan 19, 2008 9:09pm Jan 19, 2008 9:09pm
I'm still bearish on the EURUSD in the short term.

I don't trade long term - only intra-day however we have our line in the sand for a another drop South.

The orange line on the attached chart at .4589 is the big one. If we break .4589 this pair is moving down.

Be careful and wait for confirmation of a solid break below .4589.

On the upside I'll be long on a break of .4700.

We may range for a few sessions but I'm guessing .4589 will give.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdrangebound.gif Size: 15 KB
  • #144
  • Jan 22, 2008 6:07am Jan 22, 2008 6:07am
I took a trade this morning in the e/u pair. 2 lots, one with PT at the psychlevel, the other one at the S1 level. I also put my second lot on BE as soon as price broke and closed below the psychlevel.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 17 KB
  • #145
  • Jan 23, 2008 5:19am Jan 23, 2008 5:19am
I took another trade a few minutes ago, on the break of the trendline and daily PP. Lets see how it works out
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 17 KB
  • #146
  • Jan 27, 2008 7:33pm Jan 27, 2008 7:33pm
Quoting ekling
I took another trade a few minutes ago, on the break of the trendline and daily PP. Lets see how it works out
Looks very good ekling.

m
  • #147
  • Jan 27, 2008 7:47pm Jan 27, 2008 7:47pm
Going to be a very busy week.

Where are we right now?

Well - we are below the PP so we are thinking sell.

We just had a bounce off .4663 so that's the line in the sand thus far.

You could see sell a move below and I would suspect price would move to S1.

On the long side price has already sent a stab through the PP - which is very close to the psych level of .4700.
Attached Image (click to enlarge)
Click to Enlarge Name: jan272008.gif Size: 26 KB
  • #148
  • Jan 28, 2008 8:32am Jan 28, 2008 8:32am
Acumen, I like your method of trading. I am going to be trying it out. I started using a system for GJ with pivots that works extremely well also. EURUSD seems like a good currency to trade with it since you can keep the SL so tight. Just wondering, with the newborn and your day job, do you really get up at 2 and start trading? when do you sleep? i actually work from home and have a pretty slack schedule but still struggle to be up trading at night.
  • #149
  • Jan 28, 2008 10:35am Jan 28, 2008 10:35am
Quoting natejax
Acumen, I like your method of trading. I am going to be trying it out. I started using a system for GJ with pivots that works extremely well also. EURUSD seems like a good currency to trade with it since you can keep the SL so tight. Just wondering, with the newborn and your day job, do you really get up at 2 and start trading? when do you sleep? i actually work from home and have a pretty slack schedule but still struggle to be up trading at night.
Nope... I'm up at 2 for a feeding and a quick peek at the monitor but I'm back in bed until the US Session.

I only trade the US Session for now and it does limit my trades... nothing I can do about that until I manage a fund full time. (Then I will trade European and US sessions)

Yes... the EURUSD is the only pair I trade. My SL is tight... keep in mind once price moves through a key level... retraces and moves back to that level it will rarely hit my SL.

The next post has an example for today's action.
  • #150
  • Jan 28, 2008 10:45am Jan 28, 2008 10:45am
Even though I missed all but one trade we had some great moves today. Last night (before the European session) I posted our trading strategy.

During the Asian session price moved through the PP and .4700 and the pull back very quickly.

Later... during the European session price moved through both of the above key levels and then retraced. (NOTE: Always wait for a retrace. If you miss the move because the markets moving too fast so what. You'll catch the next one.)

Once price moved through the pysch level and the PP you are in. Price moved to R1 and never looks back.

Check out what happened at R1. Price moves through and then pulls back. Once price moves back through R1 and the other pysch level (.4750) we are going up again.
Attached Image (click to enlarge)
Click to Enlarge Name: jan282008.gif Size: 17 KB
  • #151
  • Jan 28, 2008 11:39am Jan 28, 2008 11:39am
for some reason, my pivots don't match yours even though i am using the same indicator. i use Interbank FX. i used default settings on indicator. interbank is GMT time. any ideas? also, would you take take the trade when S1 is broken after the retrace?
  • #152
  • Jan 28, 2008 11:50am Jan 28, 2008 11:50am
Quoting natejax
for some reason, my pivots don't match yours even though i am using the same indicator. i use Interbank FX. i used default settings on indicator. interbank is GMT time. any ideas? also, would you take take the trade when S1 is broken after the retrace?
Once price moves below S1, retraces and moves again to S1 I'm short. The key point is the retrace.

I'm not sure about your pivots... please post a screen shot.

Thanks.

m
  • #153
  • Jan 28, 2008 11:58am Jan 28, 2008 11:58am
thanks Acumen - i am wondering if it has to do with the Sunday data
Attached Image (click to enlarge)
Click to Enlarge Name: pivots.jpg Size: 135 KB
  • #154
  • Jan 28, 2008 1:11pm Jan 28, 2008 1:11pm
I'm not sure.

m
  • #155
  • Jan 28, 2008 2:01pm Jan 28, 2008 2:01pm
I saw you use the alpari demo feed and went ahead and downloaded that. everything matches up - thanks!
  • #156
  • Jan 28, 2008 6:07pm Jan 28, 2008 6:07pm
Quoting natejax
I saw you use the alpari demo feed and went ahead and downloaded that. everything matches up - thanks!
That's awesome.
  • #157
  • Jan 28, 2008 6:13pm Jan 28, 2008 6:13pm
This one should be pretty straightforward. (I hope)

.4800 is our break north point.

A move above and we are heading to R1 and most likely .4850 and higher.

We may see price move to the PP during the Asian session but I wouldn't short this pair.

I'm looking to go long above .4800.

Some consolidation may be in order.
Attached Image (click to enlarge)
Click to Enlarge Name: jan28euro.gif Size: 26 KB
  • #158
  • Jan 28, 2008 7:36pm Jan 28, 2008 7:36pm
acumen

It is good to see this thread picking up momentum as I knew it would. Since I start trading forex some 10+ yrs ago I focused on Position Trading the Trend. In the last 2 months I have decided to retool my model & focus now on the Short Term Trend. To do this I have been testing & gaining knowledge on Fibs, Pivots & Murrey Math as they all are similar in so many ways. In my postion trading days I knew about the Fibs & Pivots & kept an eyes on them, but now am focusing more on these two as they will be the core to the short term model. A chart clean & concise approach to trading.

For some reason I'm not able to received pm's @ this time. Have contacted the Adm.

Tks for your time devoted to this & I'll contribute as it goes along.
  • #159
  • Jan 28, 2008 7:50pm Jan 28, 2008 7:50pm
Acumen, I assume the pullback rule goes for the 4800 level also? you would wait for the price to retrace before entering?
  • #160
  • Jan 28, 2008 9:52pm Jan 28, 2008 9:52pm
Quoting acetrader
acumen

It is good to see this thread picking up momentum as I knew it would. Since I start trading forex some 10+ yrs ago I focused on Position Trading the Trend. In the last 2 months I have decided to retool my model & focus now on the Short Term Trend. To do this I have been testing & gaining knowledge on Fibs, Pivots & Murrey Math as they all are similar in so many ways. In my postion trading days I knew about the Fibs & Pivots & kept an eyes on them, but now am focusing more on these two as they will be the core to the short term model. A chart clean & concise approach to trading.

For some reason I'm not able to received pm's @ this time. Have contacted the Adm.

Tks for your time devoted to this & I'll contribute as it goes along.
Thanks for the kind words.
0 traders viewing now