Psych Levels, Pivots, and Trendlines - Resurrected

Quoting mlawren2

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Hi EV,
just brushed up on extensions, and as I thought extensions are normally taken from the high or low of the fib(ie swing high/low). However the extension tool in MT4 appears to give extensions from the mid point of the swing, I've never come across this before, hence my first question to you about how the numbers were calculated. I will sleep well now I have things clear in my mind.
I use fib extensions quite successfully, taking from the high/low of the fib, but always interested to see another way.The problem I have is getting them on the right swing and then a good entry point, but reading this thread and using confluences is making logical sense. Great trades and posts, thanks for your effort and time on the thread(and to all other contributors aswell !!)

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Quoting eyevoltage

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Just in case anybody's still out there.........

This fib trade just did what we always WANT them to do!
Absolutely perfect!

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Quoting fx1dr3r

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Excellent trade EV! I wasn't on that trade. Looking at it, there's confluence of 1.7500 psyche level and MS1-1.7499. It was hit then retraced by 50%. The second time that price attempted to cross the confluence could also have been another entry.

Edit: Where did you exit on this trade?

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Quoting fx1dr3r

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EV, did you exit at FE100% coz there's a confluence of psyche level and pivot level above it which poses a risk zone?

.. Wouldn't want to be the last man on earth.. it would be too boring. I took a day off of trading to take care of some personal things. I wonder why a few people posts here. The trading approach discussed here is solid.

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Quoting eyevoltage

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We seem to have got into the "fib" habit just lately, so I thought it would be good to point out that we can spot opportunities with the Pivot Points as well, which is what acumen originally intended.

In this example, strictly speaking, I don't think that the reverse signal IS a morning-star, as it should come after a small gap. Nevertheless, it's an excellent spinning-top, indicating indecision, and positioned just above a midpoint line. I've marked where MY entry would have been, but as I've indicated, you could pick your own exit.

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Quoting fx1dr3r

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That's it for me. I'm done for the day guys! Happy trading EV, SpecialEd and to all traders here!

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Quoting fx1dr3r

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On that chart, I would have placed my TP 2 points above the Psyche level-1.3900. Since there is a confluence with S1-1.3895. 2 points above coz of the spread factor.

Edit: I think you made a typo error in your chart EV. It should be "evening star"

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Quoting fx1dr3r

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Here are examples of using the confluence of pivots and psyche levels to enter trades. I wasn't on this trades.

First, price crossed the confluence of psyche level-1.7650 and MR2-1.7660 at point A. Price then retraced by 50%. Then at point B it tried to cross the confluence again. This would have been a good time to buy after price crossed both psyche level and MR2. TP could have been placed at the next confluence of psyche level-1.7700 and R2-1.7696. SL could be placed a couple of points below the swing low.

First, price crossed the confluence of psyche level-1.7700 and R2-1.7696 at point C. Price then retraced by almost 38.2%. Then at point D it tried to cross the confluence again. This would have been a good time to buy after price crossed both psyche level and R2. TP could be placed at the next daily pivot level, MR3-1.7732. SL could be placed a couple of points below the swing low.

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