Psych Levels, Pivots, and Trendlines - Resurrected | Page 55 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #1,081
  • Oct 21, 2008 7:35am Oct 21, 2008 7:35am
Watching for a 15min break south of the current TL....

Thanks for your assistance, chaps.
Attached Image (click to enlarge)
Click to Enlarge Name: 15min 211008(1).GIF Size: 58 KB
  • #1,082
  • Oct 21, 2008 8:18am Oct 21, 2008 8:18am
Quoting ChowClown
Watching for a 15min break south of the current TL....

Thanks for your assistance, chaps.
Nice idea, CC. An initial 20 pip candle after the TL break, but seems to be hovering around the mid-point now.
  • #1,083
  • Edited 8:40am Oct 21, 2008 8:24am | Edited 8:40am
Quoting eyevoltage
Nice idea, CC. An initial 20 pip candle after the TL break, but seems to be hovering around the mid-point now.
Yes, a tad hairy, trailing this one above 15min highs for the time being.

Edit: ...be nice to see the 1.382 extension today, but EU already at 90% odd ADR.

Edit:...dropping down to 1min now to micro manage a final exit.

Edit:...hmm 3110 (138.2 ext) could be on the cards after all....now at S2 though.

Edit:...looking for a 1min 123 break north and i'll be out.
  • #1,084
  • Oct 21, 2008 8:40am Oct 21, 2008 8:40am
Quoting ChowClown
Yes, a tad hairy, trailing this one above 15min highs for the time being.

Edit: ...be nice to see the 1.382 extension today, but EU already at 90% odd ADR.

Edit:...dropping down to 1min now to micro manage a final exit.

Edit:...hmm 3110 (138.2 ext) could be on the cards after all....now at S2 though.
Looking mighty good now, mate.....
  • #1,085
  • Oct 21, 2008 8:49am Oct 21, 2008 8:49am
Quoting ChowClown
Yes, a tad hairy, trailing this one above 15min highs for the time being.

Edit: ...be nice to see the 1.382 extension today, but EU already at 90% odd ADR.

Edit:...dropping down to 1min now to micro manage a final exit.

Edit:...hmm 3110 (138.2 ext) could be on the cards after all....now at S2 though.

Edit:...looking for a 1min 123 break north and i'll be out.
OK, that'll do for me on this one. Can do what it likes now
  • #1,086
  • Oct 21, 2008 9:01am Oct 21, 2008 9:01am
Quoting ChowClown
OK, that'll do for me on this one. Can do what it likes now
Good one, mate. I make that around 100 pips.
  • #1,087
  • Oct 21, 2008 9:08am Oct 21, 2008 9:08am
Quoting eyevoltage
Good one, mate. I make that around 100 pips.
I took 77 which is much more than expected, given time of day, ADR etc. I do like using the 1min to monitor s/r and feel for the slowing of momentum...leads to nice 'surprises' like this every now and again. Usually much more conservative of course....a nice end to the day.

Hope you had a good one m8
  • #1,088
  • Oct 22, 2008 12:28am Oct 22, 2008 12:28am
...looks a likely short, momentum building nicely now.
Attached Image (click to enlarge)
Click to Enlarge Name: 221008(1).gif Size: 15 KB
  • #1,089
  • Oct 22, 2008 12:44am Oct 22, 2008 12:44am
Quoting ChowClown
...looks a likely short, momentum building nicely now.
Yeah I did the coin flip and sold gu failure of 1.6350 instead of ej's failure of 128.00. Both were nice trades.
  • #1,090
  • Oct 22, 2008 2:35am Oct 22, 2008 2:35am
This looked like a nice opportunity on EU. After a doji (1) right on the psych-line, price dropped back to the confluence of the 13ema and the S1 line. A small harami candle followed (2) and I waited for entry just above the 1.2900 psych-line. I ended up watching price struggle to breach the .20 psych-line and lost patience, exiting for about 20 pips. Just goes to show that even a minor psych-line like .20 can prove to be very stubborn!! Don't get me wrong though. 20 pips is a nice profit, but I just thought it would manage to get a little higher. Another lesson learned. Take the profit and get the hell out!
Attached Image
  • #1,091
  • Oct 22, 2008 3:25am Oct 22, 2008 3:25am
Another opportunity kicked off by the 13ema. It was just a matter of waiting for the right time to get in. The chart speaks for itself, really.
Attached Image
  • #1,092
  • Oct 22, 2008 6:17pm Oct 22, 2008 6:17pm
Hello EyeVoltage and Other Traders,

I have not been on this thread in a while. Been either trading heads-down or spending a little time on EUR/USD. Just wanted to post a chart to show my good friend EV that I have been applying what you taught me.

In the attached chart, at the end of two massive bear days, you can see a set of tweezers (successive candles with equal lows) that precipitated a reversal. If you caught this one, you could get a minimum of 84 PIPs and a maximum of 123, I think. Also, note that at the end of the up-run, it stopped on a dime - the 1.2850 psych - and headed back south for a while.

I hope this helps some new trader, and I hope my friends on this thread are doing well.

Best in Trading,
Ed in Virginia
Attached Image
Up or down, gimme a ticket
  • #1,093
  • Oct 23, 2008 2:02am Oct 23, 2008 2:02am
Quoting SpecialEd
Hello EyeVoltage and Other Traders,

I have not been on this thread in a while. Been either trading heads-down or spending a little time on EUR/USD. Just wanted to post a chart to show my good friend EV that I have been applying what you taught me.

In the attached chart, at the end of two massive bear days, you can see a set of tweezers (successive candles with equal lows) that precipitated a reversal. If you caught this one, you could get a minimum of 84 PIPs and a maximum of 123, I think. Also, note that at the end of the up-run, it stopped on a dime - the 1.2850 psych - and headed back south for a while.

I hope this helps some new trader, and I hope my friends on this thread are doing well.

Best in Trading,
Ed in Virginia
Hi Ed, and thanks for stopping by, mate!
Good to see you "applying the principles", and making a profit in the process! I had a look at the eur/usd thread and saw your name on there, mate, so I assumed that you'd gone over to the Long Term crowd, because you said that was your eventual aim, I believe?
Anyway, good to see you back, old buddy. Hope you stay awhile!
Cheers
  • #1,094
  • Oct 23, 2008 2:13am Oct 23, 2008 2:13am
Quoting eyevoltage
Hi Ed, and thanks for stopping by, mate!
Good to see you \"applying the principles\", and making a profit in the process! I had a look at the eur/usd thread and saw your name on there, mate, so I assumed that you'd gone over to the Long Term crowd, because you said that was your eventual aim, I believe?
Anyway, good to see you back, old buddy. Hope you stay awhile!
Cheers
Good morning EV,

Yes, the long term trade is where I wanted to be in time. I spent a lot of time on demo after 8/8/08. Went "live" again about 10 days ago. With all that I've studied, including very helpful information from you, Acumen and a host of other very sound traders, I hope I'm turning the corner. I love trading, and this is what I would like to do the rest of my productive life. Weird hours, but very flexible personal schedule, and no employees or payroll taxes!

I came back because I missed our little visits, EV. I hope your home life is going as well as it can.

Best in trading,
Ed
Up or down, gimme a ticket
  • #1,095
  • Oct 26, 2008 10:26pm Oct 26, 2008 10:26pm
Been away for a while. First trade of the day. Cable formed a symmetrical triangle. Sold after price crossed below the low of the first candle that crossed and closed below the rising TL. TP was placed and hit just above the confluence of psyche level & a visual support level - 1.5650.
Attached Image
Life is a journey... So is trading.
  • #1,096
  • Oct 26, 2008 11:08pm Oct 26, 2008 11:08pm
Short from 1.5696 after a 76.4% retracement.

Exit at +10. Oh well, better than a loss I guess.
Life is a journey... So is trading.
  • #1,097
  • Oct 27, 2008 12:19am Oct 27, 2008 12:19am
Shorted again @ 1.5689. TP was placed and hit at the confluence of 100% extension and psyche level-1.5550.
Attached Image
Life is a journey... So is trading.
  • #1,098
  • Edited 12:52am Oct 27, 2008 12:37am | Edited 12:52am
Short from 1.5498 after a small descending triangle.

Edit: Moved stop to BE.

Edit: TP was placed and hit at visual support-1.5422. (plus spread) Chart added below.
Attached Image
Life is a journey... So is trading.
  • #1,099
  • Oct 27, 2008 2:00am Oct 27, 2008 2:00am
Great trades, fx1.

Nice to see you back, mate.
  • #1,100
  • Oct 27, 2008 2:11am Oct 27, 2008 2:11am
Quoting eyevoltage
Great trades, fx1.

Nice to see you back, mate.
Thanks EV! Its great to be back. A lot of action last week. Especially last Friday. I hope you had a nice piece of that 1000 pip pie.
Life is a journey... So is trading.
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