Psych Levels, Pivots, and Trendlines - Resurrected | Page 34 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #661
  • Sep 30, 2008 9:54am Sep 30, 2008 9:54am
EV, same chart, no pattern, no indicator.
Just an s/r-level...
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 37 KB
Donīt live for working, but work for living.
  • #662
  • Sep 30, 2008 9:54am Sep 30, 2008 9:54am
Quoting matsf
EV, iīm really impressed !!

Great trades !!
Thank you for your work here, i appreciate it very much.
I can just learn from your posts here !
Thanks very much, matsf.....it makes it all worthwhile. Actually, you surprised me, as I thought that you were a big fan of just trading off the psych-lines.

Actually, acumen did me a big, big favour by resurrecting this thread. By ditching all the indicators and concentrating on PA's reaction to pivots, psych-lines and fibs, it's opened up a whole new world to me. I'm beginning to see so much more than I did before.

How about some charts, matsf? It's good to see things from other's point of view, like yourself, fx1 and islander.

Cheers for now, mate, and thanks again.

Edit: You pre-empted me, mate! That's the kind of chart I mean...clean and simple. Spot on, mate!
  • #663
  • Sep 30, 2008 9:57am Sep 30, 2008 9:57am
I would like to post more charts, but i have a "9to5"-job, so i just can trade in the evenings here in Germany. What a pity.
But my goal is to be a full-time-trader within 5 years !
Donīt live for working, but work for living.
  • #664
  • Sep 30, 2008 10:05am Sep 30, 2008 10:05am
Quoting matsf
I would like to post more charts, but i have a "9to5"-job, so i just can trade in the evenings here in Germany. What a pity.
But my goal is to be a full-time-trader within 5 years !
The very best of luck, mate. I think it'll be sooner than that!
  • #665
  • Oct 1, 2008 2:33am Oct 1, 2008 2:33am
Here's my Dax chart from yesterdays trade - the gold line
Attached Image (click to enlarge)
Click to Enlarge Name: sep 30 dax 5m.gif Size: 15 KB
Trading Levels with WRBs
  • #666
  • Oct 1, 2008 2:44am Oct 1, 2008 2:44am
This mornings Frankies Hour action....price had held earlier above the MS1 level so the failed push down at 1 was a heads up for the break of the 7800 SS. I exited in a limit order on the break of the 7850 SS.

I was doing other things - downloading the alarmed trendlines! - and missed the lack of follow through after the wide range candle at 3 - a clear sell.

BTW, as I'm often doing other things, I've been experimenting with different alerts. Here the red and green horizontal lines are actually alarmed trendlines - a little more flexible than the Chin Breakout Alerts that I've been using...
Attached Image (click to enlarge)
Click to Enlarge Name: oct 1 cable 1m 0910.gif Size: 15 KB
Trading Levels with WRBs
  • #667
  • Oct 1, 2008 2:57am Oct 1, 2008 2:57am
Update - the way these levels are working this morning is fantastic.....
Attached Image (click to enlarge)
Click to Enlarge Name: oct 1 cable 1m 0750.gif Size: 13 KB
Trading Levels with WRBs
  • #668
  • Edited 4:37am Oct 1, 2008 4:23am | Edited 4:37am
Islander, some great charts this morning, mate! Truly appreciated. I wonder if you can give me some info with regard to "alarmed trendlines"?

This is the 5m cable looking as if it's entered a falling wedge....... Time will tell.......

Edit: It broke upwards and I entered at 1.7827
Edit: Out at TP target 1.7850
Attached Image
  • #669
  • Oct 1, 2008 4:40am Oct 1, 2008 4:40am
Price broke out upwards from the falling wedge in the above chart. I entered at 1.7827 and jumped ship at my target, the psych-line 1.7850.
  • #670
  • Oct 1, 2008 4:45am Oct 1, 2008 4:45am
Sorry, meant to put the chart up in last post.......
Attached Image
  • #671
  • Oct 1, 2008 5:01am Oct 1, 2008 5:01am
Why didnīt you enter on the red bar before your entry ?
Did you want a confirmation ?
Donīt live for working, but work for living.
  • #672
  • Oct 1, 2008 5:10am Oct 1, 2008 5:10am
Quoting matsf
Why didnīt you enter on the red bar before your entry ?
Did you want a confirmation ?
Basically, yes. In a situation like this one, the red candle didn't signify that there was a break-out in the offing. So I waited to see what the next candle would bring, and for me, it gave confirmation that the break-out was "on".
  • #673
  • Oct 1, 2008 5:13am Oct 1, 2008 5:13am
This time on the eur/usd chart. Worth watching?
Attached Image
  • #674
  • Oct 1, 2008 5:16am Oct 1, 2008 5:16am
Quoting eyevoltage
Islander, some great charts this morning, mate! Truly appreciated. I wonder if you can give me some info with regard to "alarmed trendlines"?

This is the 5m cable looking as if it's entered a falling wedge....... Time will tell.......

Edit: It broke upwards and I entered at 1.7827
Edit: Out at TP target 1.7850
NP - indy attached - I find it best to reduce the AP range to 2 and you also need to change the name for each new TL that you use.

What a great range bound morning.....http://forexfactory.com/images/icons/icon6.gif
Attached File(s)
File Type: ex4 TLine Alert.ex4   2 KB | 424 downloads
Trading Levels with WRBs
  • #675
  • Oct 1, 2008 5:34am Oct 1, 2008 5:34am
eur/usd rising wedge....looks like price is breaking to the downside.......
  • #676
  • Oct 1, 2008 5:36am Oct 1, 2008 5:36am
Quoting eyevoltage
eur/usd rising wedge....looks like price is breaking to the downside.......
...you in yet? I am, for better for worse.

Edit: 50 level still holding.
  • #677
  • Oct 1, 2008 5:39am Oct 1, 2008 5:39am
Quoting ChowClown
...you in yet? I am, for better for worse.

Edit: 50 level still holding.
I'm waiting for the 0.50 level AND the 34ema to be breached.......
  • #678
  • Oct 1, 2008 5:47am Oct 1, 2008 5:47am
Quoting eyevoltage
I'm waiting for the 0.50 level AND the 34ema to be breached.......
  • #679
  • Edited 6:14am Oct 1, 2008 5:58am | Edited 6:14am
Quoting eyevoltage
I'm waiting for the 0.50 level AND the 34ema to be breached.......
I was in at 1.4142 before the pull-back. A nice drop to the 0.20 psych-line would be just the job now!

Edit: It's sticking like glue to the 34ema at present.
Edit: I wasn't happy with it, so jumped ship at -2pips.
  • #680
  • Oct 1, 2008 6:33am Oct 1, 2008 6:33am
Quoting Islander
NP - indy attached - I find it best to reduce the AP range to 2 and you also need to change the name for each new TL that you use.

What a great range bound morning.....http://forexfactory.com/images/icons/icon6.gif
Thanks for the TL indicator, mate. What kind of alert does it give?
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