Psych Levels, Pivots, and Trendlines - Resurrected | Page 44 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #861
  • Oct 7, 2008 3:35am Oct 7, 2008 3:35am
I have an indicator, which gives the weekly- and monthly pivots. Look here what a story was yesterday night and today early in the morning
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  • #862
  • Oct 7, 2008 3:36am Oct 7, 2008 3:36am
Quoting Happy68
which range do you mean?
Roughly 1.3600 - 1.3550. Broke down to 1.3520, but it's now retraced up to 1.3550 again.
  • #863
  • Oct 7, 2008 4:04am Oct 7, 2008 4:04am
Cable made a tweezer bottom at 76.4% retracement. Bought 1 bid point above the high of the 2nd candle of the tweezer bottom. TP was placed at 100% extension (123.6% level). The shadow just missed 1.7404 by a point. Exit when it came back to 100% level.
Attached Image
Life is a journey... So is trading.
  • #864
  • Oct 7, 2008 4:14am Oct 7, 2008 4:14am
Looks like the correction of the breakout is forming a bearish flag. What do you think guys?
Attached Image
Life is a journey... So is trading.
  • #865
  • Oct 7, 2008 4:37am Oct 7, 2008 4:37am
Quoting fx1dr3r
Looks like the correction of the breakout is forming a bearish flag. What do you think guys?
On 15m, it looks like an ascending triangle, fx1.....
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  • #866
  • Oct 7, 2008 4:39am Oct 7, 2008 4:39am
Quoting eyevoltage
On 15m, it looks like an ascending triangle, fx1.....
Just broke the ceiling of the triangle EV.
Life is a journey... So is trading.
  • #867
  • Oct 7, 2008 4:42am Oct 7, 2008 4:42am
Quoting eyevoltage
On 15m, it looks like an ascending triangle, fx1.....
Or an ascending wedge.......
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  • #868
  • Oct 7, 2008 4:48am Oct 7, 2008 4:48am
Quoting eyevoltage
On 15m, it looks like an ascending triangle, fx1.....
Didn't see that one. Should have considered the possibility of an ascending triangle after cable created a ceiling with the double top (blue rectangles).
Attached Image
Life is a journey... So is trading.
  • #869
  • Oct 7, 2008 4:55am Oct 7, 2008 4:55am
Fx1, have a look at the candles in that ascending wedge I posted. Look at the length of the shadows. A lot of indecision in there, mate.
  • #870
  • Oct 7, 2008 5:04am Oct 7, 2008 5:04am
Quoting eyevoltage
Fx1, have a look at the candles in that ascending wedge I posted. Look at the length of the shadows. A lot of indecision in there, mate.
Yes EV, those consecutive spinning tops does show indecision. But the last candle on your chart is pretty bullish after the bear candle that respected the ascending TL. I'm long from 1.7408 by the way after the retest of the ceiling which followed after the breakout of the ascending triangle.

Edit: I'm out at +5 points. Still looking at it as a bearish flag. .. But no harm to get some points inside of it.
Life is a journey... So is trading.
  • #871
  • Oct 7, 2008 5:31am Oct 7, 2008 5:31am
Quoting fx1dr3r
Yes EV, those consecutive spinning tops does show indecision. But the last candle on your chart is pretty bullish after the bear candle that respected the ascending TL. I'm long from 1.7408 by the way after the retest of the ceiling which followed after the breakout of the ascending triangle.

Edit: I'm out at +5 points. Still looking at it as a bearish flag. .. But no harm to get some points inside of it.
5 pips is 5 pips, mate. Latest picture I have is back on 5m, and it's definitely a rising wedge.
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  • #872
  • Oct 7, 2008 5:55am Oct 7, 2008 5:55am
Surprice Break up, break down, and again up Like in budda bar
  • #873
  • Oct 7, 2008 6:06am Oct 7, 2008 6:06am
Quoting eyevoltage
5 pips is 5 pips, mate. Latest picture I have is back on 5m, and it's definitely a rising wedge.
Just got back on my screen. You're right EV! Definitely a rising wedge and it looks like the previous M15 candle crossed and closed below the lower TL.
Attached Image
Life is a journey... So is trading.
  • #874
  • Oct 7, 2008 6:20am Oct 7, 2008 6:20am
Quoting fx1dr3r
Just got back on my screen. You're right EV! Definitely a rising wedge and it looks like the previous M15 candle crossed and closed below the lower TL.
Still a rising wedge. It just got a bit bigger. Setting up for NY open?
Attached Image
Life is a journey... So is trading.
  • #875
  • Oct 7, 2008 6:26am Oct 7, 2008 6:26am
I think, there is no wedge more - it took to much time.
  • #876
  • Oct 7, 2008 6:35am Oct 7, 2008 6:35am
Quoting Happy68
I think, there is no wedge more - it took to much time.
.. You could be right Happy. But let's wait and see what PA shows.
Life is a journey... So is trading.
  • #877
  • Oct 7, 2008 6:53am Oct 7, 2008 6:53am
In a nice fib trade on eur/usd at the moment. Just seeing if it will make Target 2 at FE100%.

Edit: Hit Target 2 and heading for Target 3.....
Edit: No, it's not! I've just jumped ship for about 25 pips.
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  • #878
  • Oct 7, 2008 7:03am Oct 7, 2008 7:03am
.....this happened on cable. A firm break northwards from the rising wedge.
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  • #879
  • Oct 7, 2008 7:03am Oct 7, 2008 7:03am
By me the same as in the morning: breakout, correction 38% + 138,50, hammer
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  • #880
  • Oct 7, 2008 7:09am Oct 7, 2008 7:09am
.. Nice trade guys! Also saw the breakup EV, which was confirmed by the one candle close above the upper TL and the gap upwards on the next candle. I wasn't on the trade though, I prefer not to trade counter breakout to biased chart formations.
Life is a journey... So is trading.
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