Psych Levels, Pivots, and Trendlines - Resurrected | Page 26 | Forex Factory

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Attachments: Psych Levels, Pivots, and Trendlines - Resurrected
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Psych Levels, Pivots, and Trendlines - Resurrected

  • #501
  • Sep 19, 2008 4:04am Sep 19, 2008 4:04am
.. Got in at 1.7975 after the break of the triangle. TP hit at 1.7995. Placed it at the lower risk level of the confluence of MS1-1.7995 and psyche level-1.8000.

Edit: Look at it go!
Attached Image
Life is a journey... So is trading.
  • #502
  • Sep 19, 2008 4:07am Sep 19, 2008 4:07am
Quoting fx1dr3r
.. Got in at 1.7975 after the break of the triangle. TP hit at 1.7995. Placed it at the lower risk level of the confluence of MS1-1.7995 and psyche level-1.8000.

Edit: Look at it go!

Good trading guys, nice momentum setting in for further climbs up the respective ladders....gotta luv it
  • #503
  • Sep 19, 2008 4:08am Sep 19, 2008 4:08am
Quoting fx1dr3r
.. Got in at 1.7975 after the break of the triangle. TP hit at 1.7995. Placed it at the lower risk level of the confluence of MS1-1.7995 and psyche level-1.8000.

Edit: Look at it go!
Very nice, me old mate. That's taught ME a lesson. By the way, at the same time, this was happening on eur/usd:
Attached Image
  • #504
  • Sep 19, 2008 4:52am Sep 19, 2008 4:52am
Looks like cable is ranging sideways. This might be a good time for a range breakout trade.

Edit: With confluences on both sides. Confluence of MS2-1.8041 and psyche level-1.8050 on top. S2-1.7995 and psyche level-1.8000 at the bottom.
Attached Image
Life is a journey... So is trading.
  • #505
  • Sep 19, 2008 5:02am Sep 19, 2008 5:02am
Watching a possible fib trade coming up on eur/usd.

Edit: It's retraced to 61.8%. Watching for a TC now.
Edit: On reflection, don't think I'll bother. Gone through 61.8%, plus S1 is running between 50.0% and 38.2%. Good one to stay out of.
  • #506
  • Edited 5:20am Sep 19, 2008 5:02am | Edited 5:20am
Breakout to upside!

Edit: I'm in from 1.8051.
Edit: Exit at 1.8075 just in time. Saw that strong white candle coming down and a tweezer top.
Attached Image
Life is a journey... So is trading.
  • #507
  • Edited 5:22am Sep 19, 2008 5:19am | Edited 5:22am
Nice one, fx1.

Wonder if anyone thought to take advantage of these patterns this morning? Not a fib in sight!

Edit: The spinning top touching 1.4261 could also be part of a bearish engulfing pattern, if you look at the following candle.
Attached Image (click to enlarge)
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  • #508
  • Sep 19, 2008 5:28am Sep 19, 2008 5:28am
Quoting fx1dr3r
Breakout to upside!

Edit: I'm in from 1.8051.
Edit: Exit at 1.8075 just in time. Saw that strong white candle coming down and a tweezer top.
Lovely trade, fx1. And like all our trades on here, not an indicator in sight, other than lines and TL's.
Says it all, really.
  • #509
  • Sep 19, 2008 5:32am Sep 19, 2008 5:32am
Quoting eyevoltage
Nice one, fx1.

Wonder if anyone thought to take advantage of these patterns this morning? Not a fib in sight!

Edit: The spinning top touching 1.4261 could also be part of a bearish engulfing pattern, if you look at the following candle.
Excellent illustration EV! Talk about trading naked!... I think SpecialEd and Acumen may have just coined your handle: "King of the Candlesticks".
Life is a journey... So is trading.
  • #510
  • Sep 19, 2008 5:34am Sep 19, 2008 5:34am
Quoting fx1dr3r
Excellent illustration EV! Talk about trading naked!... I think SpecialEd and Acumen may have just coined your handle: "King of the Candlesticks".
Aw, shucks......
  • #511
  • Sep 19, 2008 5:47am Sep 19, 2008 5:47am
Quoting fx1dr3r
Breakout to upside!

Edit: I'm in from 1.8051.
Edit: Exit at 1.8075 just in time. Saw that strong white candle coming down and a tweezer top.
Hi Guys - as always, some interesting posts

This was how I saw this move - the initial alert was the higher low at the green tick and the higher low at the arrow was for me a buy - then with a narrow stop - or safer, the buy on the break of 1.8972.

Take some off after the wide range candle at 12:00 and let some run with the stop trailing up the lower APF line and see if it makes a second attempt on the S1 level of 1.8086 - but that's held several times today...
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #512
  • Sep 19, 2008 5:52am Sep 19, 2008 5:52am
After the breakout from the range. Price retraced by 61.8%. Confluence of MS2-1.8041 and psyche level-1.8050 became a good support. Price then continued up, until it met a resistance at S1-1.8087 forming a tweezer top. Good entry would have been after price crossed, 1.8050 or after it crossed 61.80% level form the bottom of the fib (or 38.2% retracement level from top). TP at nearest risk level of S1.
Attached Image
Life is a journey... So is trading.
  • #513
  • Sep 19, 2008 6:04am Sep 19, 2008 6:04am
Quoting Islander
Hi Guys - as always, some interesting posts

This was how I saw this move - the initial alert was the higher low at the green tick and the higher low at the arrow was for me a buy - then with a narrow stop - or safer, the buy on the break of 1.8972.

Take some off after the wide range candle at 12:00 and let some run with the stop trailing up the lower APF line and see if it makes a second attempt on the S1 level of 1.8086 - but that's held several times today...
Excellent analysis Islander! Wow, look at it rise near the central pivot-1.8181.
Life is a journey... So is trading.
  • #514
  • Sep 19, 2008 6:18am Sep 19, 2008 6:18am
Quoting fx1dr3r
Excellent analysis Islander! Wow, look at it rise near the central pivot-1.8181.

LOL - I cant resist posting my 1 min chart - I "micro managed" my last position, trailing my stop behind each candle.

As soon as it stalled at the small spinning top (?) I was ready to exit and as the bearish engulfing candle turned back from the new high and went red I hit the close button,actually getting out at 8166 - that was fun.....now back to the Dow.....

Edit: lol - chart now back to the slow old 5 mins....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #515
  • Sep 19, 2008 8:32am Sep 19, 2008 8:32am
In between another KISS-Chart from me...

Do i have to say more ?

My stop held by one pip. LUCKY !!!
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Donīt live for working, but work for living.
  • #516
  • Sep 19, 2008 11:13am Sep 19, 2008 11:13am
Quoting fx1dr3r
Excellent illustration EV! Talk about trading naked!... I think SpecialEd and Acumen may have just coined your handle: "King of the Candlesticks".
You're right fx, and way to go, EV. You really do the readers of this thread a service. I have learned a lot from you, I know, and I appreciate it.

I caught 60+ PIPs today, in between changing diapers and running activities for the 14 month old. Was a great day to trade on EUR/USD. I think I could have gotten 150+ easily. Hands full, but then EV, I know you know all about that.

You chaps have a great weekend.
Ed
Up or down, gimme a ticket
  • #517
  • Sep 19, 2008 11:21am Sep 19, 2008 11:21am
No comment...
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.gif Size: 15 KB
Donīt live for working, but work for living.
  • #518
  • Sep 19, 2008 3:44pm Sep 19, 2008 3:44pm
Quoting SpecialEd
You're right fx, and way to go, EV. You really do the readers of this thread a service. I have learned a lot from you, I know, and I appreciate it.

I caught 60+ PIPs today, in between changing diapers and running activities for the 14 month old. Was a great day to trade on EUR/USD. I think I could have gotten 150+ easily. Hands full, but then EV, I know you know all about that.

You chaps have a great weekend.
Ed
You're too kind, mate. I'm just happy to help out in any way I can. I'm delighted that you managed 60+ pips today, Ed. You're right, it was a good day for trading, and in between running around, I managed some pips as well.
By the way, you should take a close look at the charts posted by matsf, Ed. He's right when he says "no comment". No words are required when you view such beautiful simplicity. He's a man after my own heart!

Have a good weekend, mate, and maybe we'll see a bit more of you next week. I miss your contributions, mate, but hey, domestics come first......as you so rightly say, I know all about that! C'est la vie.......

Take care, and don't go drinking out of damp glasses!
  • #519
  • Sep 19, 2008 5:44pm Sep 19, 2008 5:44pm
Quoting matsf
No comment...
MATSF, man it's funny that you posted all those Bullish Continuation Flags. EUR/USD acted very similarly today. I was trading on the M15 and trying to decide where (around a psych) to enter. While deliberating, I looked to the M5 and M1 and waa laa! Flags/pennants all over the place.

Get this trade - I went long on EUR/USD at 1.4260, based on what I saw. I anticipated a new daily high so I set 30 PIP S/L (1.4230), 25 PIP TSL, and no T/P; was just gonna let it run. Well, price got all the way up to about 30 and retraced down to about 8 or 10. My stop loss (via TSL) got moved to 1.4268. I had actually intended to close the trade at 1600EDT because I don't like to leave a trade open into Sunday, but guess what I did. I think you'll approve.

Since my new S/L is at +8, I decided to leave the trade open. My hope is that the market will gap UP again Sunday, like each of the past two weeks. If that happens, I should make a ton of money, right?

OK, last post on this thread for today (baby's asleep, but market's closed). Best to you all,

Ed
Up or down, gimme a ticket
  • #520
  • Sep 20, 2008 11:05am Sep 20, 2008 11:05am
My post wasnīt primariliy about the continuation flags, but on the importance of the "80-20-thing" on the cable...

Hope, that there is an up-gap so ýou can grab a lot of money !!!
Donīt live for working, but work for living.
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