Psych Levels, Pivots, and Trendlines - Resurrected | Page 43 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #841
  • Oct 6, 2008 8:26am Oct 6, 2008 8:26am
Gonna call it a day guys! Happy trading EV, Happy and others! See you all tomorrow!
Life is a journey... So is trading.
  • #842
  • Oct 6, 2008 8:53am Oct 6, 2008 8:53am
Quoting mlawren2
Hi EV,
Can I refer to your chart in post 805, why did you not fib down from 3613 to 3543, then short off the 50% retracement at 3578, I thought the candle pattern looked good for a short and also price was below the 34 ema ? Thats the trade I would have taken, it was a non-starter, you took the long, correct trade, need I say more ......
I said in the post that I was late into the thread this morning because of domestic commitments. Therefore, I never saw the potential trade you mentioned. However, I've been back and looked at it, and I wouldn't have drawn such a long fib from high to low, mate. I've attached a chart of that particular time showing how I MIGHT have drawn a fib from 1.3617, and where the low would have been. You can see how a trade would have turned out from that fib pattern. I much prefer to look for much shorter highs to lows or vice-versa, than the figures you mentioned. I've found that smaller fib patterns have a better chance of success than the large patterns. But that's just me!
I hope that this helps.
Cheers
Attached Image
  • #843
  • Oct 6, 2008 11:57pm Oct 6, 2008 11:57pm
Good morning

a trade acc. the idea of this thread

2 hammers + tweezer bottom on psychlevel 139,50 + 38% Fibo + 34ema + LH

Exit: 140,00 (or 2 pips below like me )
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 13 KB
  • #844
  • Oct 7, 2008 12:14am Oct 7, 2008 12:14am
Quoting Happy68
Good morning

a trade acc. the idea of this thread

2 hammers + tweezer bottom on psychlevel 139,50 + 38% Fibo + 34ema + LH

Exit: 140,00 (or 2 pips below like me )
Nice one Happy! What's the green MA that you're using?

A symmetrical triangle is forming in cable. Let's see what happens.
Attached Image
Life is a journey... So is trading.
  • #845
  • Oct 7, 2008 12:16am Oct 7, 2008 12:16am
Quoting fx1dr3r
Nice one Happy! What's the green MA that you're using?

A symmetrical triangle is forming in cable. Let's see what happens.
100 ema. I wait the cable too , but the triangle sits on the 100 ema - let's see
  • #846
  • Oct 7, 2008 12:26am Oct 7, 2008 12:26am
After the failure to confirm the breakout of the symmetrical triangle. Cable is now forming a descending triangle which can be seen on both M15 and M5.

Edit: Also, the floor of the triangle is a confluence of CP-1.7490 and psyche level-1.7500.
Attached Images
Life is a journey... So is trading.
  • #847
  • Oct 7, 2008 12:28am Oct 7, 2008 12:28am
Lovely trade, Happy. Well done!

Fx1, I see a descending triangle right now on cable, mate, breaking to the upside.....
  • #848
  • Oct 7, 2008 12:35am Oct 7, 2008 12:35am
Quoting eyevoltage
Lovely trade, Happy. Well done!

Fx1, I see a descending triangle right now on cable, mate, breaking to the upside.....
You're right EV. The break of the TL can be seen on both M5 and M15. Let's see if there will be a follow through of the break.
Life is a journey... So is trading.
  • #849
  • Oct 7, 2008 12:48am Oct 7, 2008 12:48am
A possible 76.4% retracement after the initial break of the TL? What do guys think?
Attached Image
Life is a journey... So is trading.
  • #850
  • Oct 7, 2008 12:50am Oct 7, 2008 12:50am
Quoting fx1dr3r
A possible 76.4% retracement after the initial break of the TL? What do guys think?
My long position was stopped Now will wait for pullback to 34 ema
  • #851
  • Oct 7, 2008 12:51am Oct 7, 2008 12:51am
Still a descending triangle, fx1. Just a bit larger, that's all!
  • #852
  • Oct 7, 2008 12:54am Oct 7, 2008 12:54am
Quoting eyevoltage
Still a descending triangle, fx1. Just a bit larger, that's all!
You're right EV. The candle failed to close above the TL at M15.
Life is a journey... So is trading.
  • #853
  • Oct 7, 2008 12:58am Oct 7, 2008 12:58am
Quoting Happy68
My long position was stopped Now will wait for pullback to 34 ema
.. We can't win them all. Goodluck on the next one!
Life is a journey... So is trading.
  • #854
  • Oct 7, 2008 1:09am Oct 7, 2008 1:09am
OK I have explaned how I trade the breakouts. Here my two trades by GBP:
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 14 KB
  • #855
  • Oct 7, 2008 1:10am Oct 7, 2008 1:10am
Sell stop was hit 1 point below the confluence of CP-1.7490 and psyche level-1.7500. TP was placed and hit at visual support plus spread.
Attached Image
Life is a journey... So is trading.
  • #856
  • Oct 7, 2008 1:14am Oct 7, 2008 1:14am
Quoting fx1dr3r
.. We can't win them all. Goodluck on the next one!
Ofcourse we can't. I wrote it just for "the track"
  • #857
  • Oct 7, 2008 1:17am Oct 7, 2008 1:17am
Nice trades, folks.......looks like eur/usd is breaking downwards from a range.
  • #858
  • Oct 7, 2008 1:17am Oct 7, 2008 1:17am
Quoting Happy68
OK I have explaned how I trade the breakouts. Here my two trades by GBP:
.. Looks like we were on the same boat. Different entry analysis but it looks like our exits were the same.
Life is a journey... So is trading.
  • #859
  • Oct 7, 2008 1:24am Oct 7, 2008 1:24am
Quoting fx1dr3r
.. Looks like we were on the same boat. Different entry analysis but it looks like our exits were the same.
yes this time my exit was acc. the figure Cap and handdle. But there was and another figure - dobble top. I was afrade to hold for the DT, therefore take the profit acc. the C&H. Here are they:
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 14 KB
  • #860
  • Oct 7, 2008 1:29am Oct 7, 2008 1:29am
Quoting eyevoltage
Nice trades, folks.......looks like eur/usd is breaking downwards from a range.
which range do you mean?
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