Psych Levels, Pivots, and Trendlines - Resurrected | Page 56 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Adr, psych levels, demand & supply trading 15 replies

Standard Pivots and Fibonnaci Pivots? 9 replies

EUR/USD 5min - Trendlines and Pivots 379 replies

Important psych levels 1 reply

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Attachments: Psych Levels, Pivots, and Trendlines - Resurrected
Exit Attachments

Psych Levels, Pivots, and Trendlines - Resurrected

  • #1,101
  • Oct 27, 2008 4:33am Oct 27, 2008 4:33am
Looks like cable is at Friday's daily low. Let's see what will happen.
Attached Image
Life is a journey... So is trading.
  • #1,102
  • Oct 27, 2008 5:09am Oct 27, 2008 5:09am
Cable looks like it's forming an ascending triangle, which, it must be said, would be more promising in a bullish market, but let's see what happens.......
Attached Image
  • #1,103
  • Oct 27, 2008 5:15am Oct 27, 2008 5:15am
Looks like a possible opposite breakout of the triangle EV.
Life is a journey... So is trading.
  • #1,104
  • Oct 27, 2008 5:21am Oct 27, 2008 5:21am
Quoting fx1dr3r
Looks like a possible opposite breakout of the triangle EV.
You could be right, fx1. And an open below the 1.5350 psych-line would be a nice place to get in.

Edit: It's tanking as we speak.......
  • #1,105
  • Oct 27, 2008 5:26am Oct 27, 2008 5:26am
Quoting eyevoltage
You could be right, fx1. And an open below the 1.5350 psych-line would be a nice place to get in.

Edit: It's tanking as we speak.......
But, it has met a bit of a support at the previous swing low.
Life is a journey... So is trading.
  • #1,106
  • Oct 27, 2008 5:35am Oct 27, 2008 5:35am
Quoting fx1dr3r
But, it has met a bit of a support at the previous swing low.
Which, on my chart, is the .20 psych-line. And which, I have to admit, I overlooked!
  • #1,107
  • Oct 27, 2008 5:39am Oct 27, 2008 5:39am
Quoting eyevoltage
Which, on my chart, is the .20 psych-line. And which, I have to admit, I overlooked!
You're right EV. The body was held above the .20 psyche line. Sometimes one can't see the wood for the trees!

BTW, i'm long from 1.5364 after that double bottom. TP @ 1.5400

Edit: TP was hit.

Edit: Added chart below.
Attached Image
Life is a journey... So is trading.
  • #1,108
  • Oct 27, 2008 5:52am Oct 27, 2008 5:52am
Quoting fx1dr3r
You're right EV. The body was held above the .20 psyche line. Sometimes one can't see the wood for the trees!

BTW, i'm long from 1.5364 after that double bottom. TP @ 1.5400

Edit: TP was hit.

Edit: Added chart below.
You've got sharp eyes, fx1. Lovely trade.
  • #1,109
  • Oct 27, 2008 6:03am Oct 27, 2008 6:03am
Quoting eyevoltage
You've got sharp eyes, fx1. Lovely trade.
Thanks EV. But still half as fast as the Candlestick King's eye!

Looks like you're ascending triangle has become bigger.
Attached Image
Life is a journey... So is trading.
  • #1,110
  • Oct 27, 2008 7:07am Oct 27, 2008 7:07am
Quoting fx1dr3r
Thanks EV. But still half as fast as the Candlestick King's eye!

Looks like you're ascending triangle has become bigger.
Now it's a bearish flag!! We should expect a break downwards, but it seems as if anything goes just lately.....................
Attached Image
  • #1,111
  • Oct 27, 2008 7:28am Oct 27, 2008 7:28am
Quoting eyevoltage
Now it's a bearish flag!! We should expect a break downwards, but it seems as if anything goes just lately.....................

You're right EV. Let's see what happens.
Life is a journey... So is trading.
  • #1,112
  • Oct 27, 2008 7:48am Oct 27, 2008 7:48am
Bought 2 bid points above the psyche level-1.5400 which incidentally is the ceiling of this small ascending triangle pattern at M15, inside the flag pattern. TP was placed and hit at psyche level-1.5450 just below the visual resistance.
Attached Image
Life is a journey... So is trading.
  • #1,113
  • Oct 27, 2008 8:02am Oct 27, 2008 8:02am
Quoting fx1dr3r
Bought 2 bid points above the psyche level-1.5400 which incidentally is the ceiling of this small ascending triangle pattern at M15, inside the flag pattern. TP was placed and hit at psyche level-1.5450 just below the visual resistance.
Very nice, I like that one.
  • #1,114
  • Oct 27, 2008 8:07am Oct 27, 2008 8:07am
Quoting Vantage
Very nice, I like that one.
.. Thanks Vantage.
Life is a journey... So is trading.
  • #1,115
  • Oct 27, 2008 8:46am Oct 27, 2008 8:46am
Quoting eyevoltage
Now it's a bearish flag!! We should expect a break downwards, but it seems as if anything goes just lately.....................
Looks like the lower rising TL of the flag has been broken EV. But it looks like price is coming back to the broken TL. Lets see if the TL resists the rise of price.
Attached Image
Life is a journey... So is trading.
  • #1,116
  • Oct 27, 2008 8:51am Oct 27, 2008 8:51am
Quoting fx1dr3r
Looks like the lower rising TL of the flag has been broken EV. But it looks like price is coming back to the broken TL. Lets see if the TL resists the rise of price.
Bounced off the S1 line, fx1, and at present, seems to be re-testing support on it.
  • #1,117
  • Oct 27, 2008 9:18am Oct 27, 2008 9:18am
Last trade of the day guys. Bought after price crossed above the TL for the 2nd time seeing a potential for the continuation of the short term uptrend inside the flag. TP at 100% level. Pulled the plug when price went back to the confluence of psyche level-1.5450 and a visual resistance.

Gonna call it a day EV. Happy trading EV and others! See you all tomorrow.
Attached Image
Life is a journey... So is trading.
  • #1,118
  • Oct 27, 2008 9:28am Oct 27, 2008 9:28am
Quoting fx1dr3r
Last trade of the day guys. Bought after price crossed above the TL for the 2nd time seeing a potential for the continuation of the short term uptrend inside the flag. TP at 100% level. Pulled the plug when price went back to the confluence of psyche level-1.5450 and a visual resistance.

Gonna call it a day EV. Happy trading EV and others! See you all tomorrow.
Well done, mate. SYT
  • #1,119
  • Oct 27, 2008 1:38pm Oct 27, 2008 1:38pm
I would have posted this an hour ago, but got called away from the computer. I'm glad I decided to keep monitoring the situation, as it produced these two nice trades, after price seemed to be going nowhere.
I'm using three emas (8, 13 and 34) right now, just to see if they improve the filtering process. I'm using those particular numbers because of the fib connection, and they seem to do a good job. If you're wondering what the green lines are......the solid greens are midpoint lines, and the dotted greens are the sub-midpoint lines. Price seems to respect these lines on the same basis as the others. Reversals are a distinct possibility at these lines.
The first trade was initiated by a bullish engulfing candle coming out of the 8/13ema zone. I was maybe a tad early with that one, but the ema's were all heading up, so I thought it was a worth a go. The second trade was initiated by a hammer forming right on the 8ema, and then the next candle starting to push up.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd105.gif Size: 16 KB
  • #1,120
  • Oct 27, 2008 11:11pm Oct 27, 2008 11:11pm
Quoting eyevoltage
I would have posted this an hour ago, but got called away from the computer. I'm glad I decided to keep monitoring the situation, as it produced these two nice trades, after price seemed to be going nowhere.
.....
Excellent trades EV! Here's my first trade of the day. Bought after price crossed above the ceiling of an ascending triangle formation. TP was hit 2 bid points below the central pivot-1.5566 before the tweezer top. After the initial break price pulled back and continued with those marabozu candles.(.. got that from EV)
Attached Image
Life is a journey... So is trading.
10 traders viewing now