Psych Levels, Pivots, and Trendlines - Resurrected | Page 75 | 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

  • #1,481
  • Dec 12, 2008 4:08am Dec 12, 2008 4:08am
Hello EV i have been keeping an eye on the eur/usd since d start of the london session, looking at the 30 min chart I noticed that the pair had been trading in a rectangular range which is a continuation pattern in a bullish trend. I would be keeping an eye on this pair through the US session hoping to long it if yesterday's and today's highs are broken.
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 12 KB
He that is from above is above all.
  • #1,482
  • Dec 12, 2008 4:28am Dec 12, 2008 4:28am
Quoting pipaholic67
Hello EV i have been keeping an eye on the eur/usd since d start of the london session, looking at the 30 min chart I noticed that the pair had been trading in a rectangular range which is a continuation pattern in a bullish trend. I would be keeping an eye on this pair through the US session hoping to long it if yesterday's and today's highs are broken.
Seems logical, mate. I might not be around at that time, but I'll check it out later to see what happened. If it fulfills your expectations, post a chart so I can see how you did!
  • #1,483
  • Dec 12, 2008 4:37am Dec 12, 2008 4:37am
Quoting Happy68
Guys, I have here a question:

http://www.forexfactory.com/showthread.php?t=136745
Interesting charts, and I have to agree with aediaz1 in that they're just trends.
You ask how would you know if it's a pull-back or an uptrend. I've found that a couple of ema's usually point you in the right direction. They're useful for highlighting both pull-backs and trends.
Hope that helps.
  • #1,484
  • Dec 12, 2008 4:50am Dec 12, 2008 4:50am
Quoting eyevoltage
Interesting charts, and I have to agree with aediaz1 in that they're just trends.
You ask how would you know if it's a pull-back or an uptrend. I've found that a couple of ema's usually point you in the right direction. They're useful for highlighting both pull-backs and trends.
Hope that helps.
Do you know what? Thank you - - Keep is simple! / KISS.
  • #1,485
  • Dec 14, 2008 12:43am Dec 14, 2008 12:43am
Quoting eyevoltage
Just offering this example in case there's anybody still interested.
EV, keep up with your great work. Iīm reading every single post of you and all the other members in this great great thread.

Unfortunately i had some problems with my broker, but from next week on i hope to be able to show you some of my trades here, too.
Donīt live for working, but work for living.
  • #1,486
  • Dec 14, 2008 1:42am Dec 14, 2008 1:42am
Quoting matsf
EV, keep up with your great work. Iīm reading every single post of you and all the other members in this great great thread.

Unfortunately i had some problems with my broker, but from next week on i hope to be able to show you some of my trades here, too.
Hey buddy, great to see ur post here. I was wondering what happened to u. Looking forward to seeing ur trades. EV is doing great here, I am a great admirer of his skills. Big up EV!
He that is from above is above all.
  • #1,487
  • Dec 14, 2008 8:21pm Dec 14, 2008 8:21pm
Good day guys! I hope everybody had a nice weekend.

An ascending triangle is forming in cable with the confluence of a visual resistance area-1.5034. and and MR1-1.5032 as the ceiling. Let's see if there will be a breakout.
Attached Image
Life is a journey... So is trading.
  • #1,488
  • Dec 15, 2008 1:50am Dec 15, 2008 1:50am
Here's a trade that I just finished with. My sell stop was hit at 1.4998 10 bid points below the floor of the channel. TP was placed and hit just above CP. As you can see from the chart price reacted strongly to the confluence of CP and psych level-1.4950.
Attached Image
Life is a journey... So is trading.
  • #1,489
  • Dec 15, 2008 2:12am Dec 15, 2008 2:12am
If price would go any higher, there are two areas that might be good to take note of for a potential continuation of the downward move. First is the confluence of 61.8% retracement and psych level-1.5000; and the confluence of 76.4% retracement and the broken floor of the channel-1.5008.
Attached Image
Life is a journey... So is trading.
  • #1,490
  • Dec 15, 2008 2:25am Dec 15, 2008 2:25am
Quoting fx1dr3r
Here's a trade that I just finished with. My sell stop was hit at 1.4998 10 bid points below the floor of the channel. TP was placed and hit just above CP. As you can see from the chart price reacted strongly to the confluence of CP and psych level-1.4950.
Nice trade, fx1, and nice to see you, matsf and pipaholic again. Been a bit quiet this morning, but signs are that the market is waking up. Cable is rising back up after dropping out of its range, so it'll be interesting to see if there's any strength in its new direction. Having said that, it seems to be stalling at the 1.5020 psych-line, which was part of an area of support since around 3.00am. This seems to be a "stand back and watch" period.
  • #1,491
  • Dec 15, 2008 2:43am Dec 15, 2008 2:43am
Thanks EV! Cable is now moving in a narrow channel between 1.5025 and 1.5008. as seen from M5 with those spinning tops and doji. And there's a potential tweezer top that could be formed at M15. As I type this it looks like it's breaking downwards of the channel.
Attached Image
Life is a journey... So is trading.
  • #1,492
  • Dec 15, 2008 3:27am Dec 15, 2008 3:27am
Here's another trade. My sell stop was hit 5 points below the narrow channel. On the same time there were 2 shooting stars at M15. Closed half as price hesitated after the hammer. TP was hit for the other half just above CP.

Hope to be back later for the UK-US overlap. Goodluck with your trades EV and others!
Attached Image
Life is a journey... So is trading.
  • #1,493
  • Dec 15, 2008 3:55am Dec 15, 2008 3:55am
Quoting fx1dr3r
Here's another trade. My sell stop was hit 5 points below the narrow channel. On the same time there were 2 shooting stars at M15. Closed half as price hesitated after the hammer. TP was hit for the other half just above CP.

Hope to be back later for the UK-US overlap. Goodluck with your trades EV and others!
Another nice one, fx1! Yep, maybe see you later, mate.
  • #1,494
  • Dec 15, 2008 5:51am Dec 15, 2008 5:51am
Here's a straightforward trend-continuation trade after a pull-back. The piercing candle closed just below the xx.20 psych-line and it was followed by a spinning-top, so entry was, as indicated, just above the high of the spinning-top. I really didn't expect price to climb so high, but it just kept on pushing up and I finally jumped ship as price started retreating from R1.
Attached Image
  • #1,495
  • Dec 15, 2008 6:28am Dec 15, 2008 6:28am
Quoting eyevoltage
Here's a straightforward trend-continuation trade after a pull-back. The piercing candle closed just below the xx.20 psych-line and it was followed by a spinning-top, so entry was, as indicated, just above the high of the spinning-top. I really didn't expect price to climb so high, but it just kept on pushing up and I finally jumped ship as price started retreating from R1.
well done EV, i thought u would never post been here all morning waiting for u guys. Nice trades, good work fx.
He that is from above is above all.
  • #1,496
  • Dec 15, 2008 6:46am Dec 15, 2008 6:46am
Quoting pipaholic67
well done EV, i thought u would never post been here all morning waiting for u guys. Nice trades, good work fx.
Thanks, mate. But price is now around 180 pips ABOVE where I bailed out!
  • #1,497
  • Dec 15, 2008 6:56am Dec 15, 2008 6:56am
Quoting eyevoltage
Thanks, mate. But price is now around 180 pips ABOVE where I bailed out!
well u can take consolation in the pips u bagged, i totally missed the bus. my internet connection crashed.
He that is from above is above all.
  • #1,498
  • Dec 15, 2008 9:13am Dec 15, 2008 9:13am
I had just one trade today.
To trade at work is not easy for me...

I took a LONG @ SP 3500 for 15 Pips.

In the last days i had a couple of bad trades.
After this break i had to make, itīs not so easy to get into it again...

@fx1dr3r and EV:
How can i draw my entries and exits so nice like you with such small icons or lines ?
Which program do you use ?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 16 KB
Donīt live for working, but work for living.
  • #1,499
  • Dec 15, 2008 5:11pm Dec 15, 2008 5:11pm
Quoting matsf
I had just one trade today.
@fx1dr3r and EV:
How can i draw my entries and exits so nice like you with such small icons or lines ?
Which program do you use ?
Hi matsf! Metatrader has a feature that plots your completed trades. To do this, you can go to the Account History tab, of the Terminal window. Then you can click anywhere on a trade's data, hold and drag it into a chart with a similar pair as your trade. The trade will then be plotted on that chart.

If the order is a buy like on post #1474, a blue triangle will indicate the time and price where you bought. If the order is a sell like on post #1492, a red triangle will indicate the time and price where you sold. The goldenrod triangle will indicate where the trade was closed. A dotted line connects the open and close triangles. A small red line will indicate your SL price and a small blue line will indicate your TP price. You can hover your mouse over each object and a tool tip description will appear containing some info about the trade.

What I do is I open the open-trade and close-trade triangle properties boxes. Then I copy some of the info and paste them on a Text object to label my entry and exit.

Hope this helps.
Life is a journey... So is trading.
  • #1,500
  • Dec 15, 2008 8:08pm Dec 15, 2008 8:08pm
Cable is currently moving sideways. Let's see which way this will break.
Attached Image
Life is a journey... So is trading.
2 traders viewing now