Psych Levels, Pivots, and Trendlines - Resurrected

Quoting boropicalo

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Hello guys and girls, I´m newbie and I want to implement the usage of indicators, how can I use them? Which are the indicators more accurate and how are they used

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Quoting Happy68

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Thank you Islander, it is kind from you

But it will be better if you can learn me to trade with not more than 2 things on the chart. I explane why. I work with Techn. analyses more than 3 years. And now in my head I have so much information, that it only disturb my trading. When I look at the chart I see so much things and always they say different things. I have tryed the PP, SS and all these stuffs, but I don't know what, when and how (all 3 togedher) to use.

Therefore, I want to have nothing more on my chart. The 34 ema is the only think I will use (because I use it all the time amd I know it). All other will be only PA and Fibo. I have just to clear this problem.

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Quoting eyevoltage

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Thanks for the indicator, Islander. Why do you have it set to GMT-5, if you're in Spain? Just wondering.

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Quoting boropicalo

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Hello guys and girls, I´m newbie and I want to implement the usage of indicators, how can I use them? Which are the indicators more accurate and how are they used

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Quoting Happy68

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here another example to trade the range-break. On 5min-chart there is no possibility to go in with proper stop-level. But here, on the 1min is very good

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Quoting Islander

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Mmm - watching any TF from hourly down, I would have been aware of the earlier low - the green line. Also its on a 50 level (and the green MS2 line).

So after seeing the reaction AND the bounce up to the 34ema with some consolidation, that's an easy buy with a stop under the low - about 25 pips.

Then there was the second buy signal on the retrace to the 7600 level and 34 ema - again!

I personally have a problem with breakout trades as I've seen too many fail as a stop hunting exercise turns price back - like the breakdown to a new low here!!

OK, so this break above the red line didnt fail, but plenty do as I know to my cost! http://www.forexfactory.com/images/icons/icon9.gif

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Quoting eyevoltage

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Islander, I have the same thoughts as you regarding break-outs and the stop-hunters. I put patterns up on screen mainly for the benefit of anybody who fancies a potential break-out trade, but I very rarely bother.

I have to say, mate, (it's ok to call you mate, is it? ) that I'm liking that 34ema more and more. It's uncanny sometimes how price reacts to it, and it sure gives us another weapon in our search for trading opportunities.

Thanks for the indicator explanation, by the way. I'm like you, I have 3 or 4 different MT4 platforms, all based around Europe, but mainly for when, inevitably, one decides to bugger me about, and it does happen!

Cheers

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Quoting Islander

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Good Morning All - I had a late start after overnight storms took out the power and kept me awake too much, so I missed the sell, but took the buy....

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Quoting Vantage

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Hi Islander
I too am liking the 34 ema more and more.

Here ej had a lower high (with higher lows my favourite move) consolidated below the 34 ema and broke lower. I took trade from 1 min chart.

You've said before that you do look at slope of 34 ema but with lower highs, higher lows and 5 ema works well together for me.

Thanks again.

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Quoting fx1dr3r

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Hi Islander! Looks like were on the same boat on this one. I was looking at a 76.4% retracement and a bounce at the TL at M15. After the hammer, price pushed upwards. Let's see where this goes.

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