Psych Levels, Pivots, and Trendlines - Resurrected | Page 76 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #1,501
  • Dec 16, 2008 12:44am Dec 16, 2008 12:44am
Thank you fx,
iīll try that later, when iīm back home from work.
Donīt live for working, but work for living.
  • #1,502
  • Dec 16, 2008 1:45am Dec 16, 2008 1:45am
.. Here's a range breakout trade which became an ABCD. My sell stop was hit below the range. But price pulled back. Sticked with it as long as it does not breach the xx00 level. After a couple of M15 bars, it showed a potential for a continuation down. TP was hit at the confluence of psych level-1.5250 and a visual support area.
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Life is a journey... So is trading.
  • #1,503
  • Dec 16, 2008 3:11am Dec 16, 2008 3:11am
Here's my last trade for this afternoon. Price pulled back and met resistance at the confluence of 76.4% retracement and psych level - 1.5300. Short after the bearish piercing. TP was missed. Bailed out as the next candle moved up above the 123.6% level (100% extension).
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Life is a journey... So is trading.
  • #1,504
  • Dec 16, 2008 9:08am Dec 16, 2008 9:08am
I decided to take this one on the 15m cable after seeing the Bullish Piercing Candle developing on the confluence formed by the xx.20 psych-line and the 13ema. The long upper shadows were a bit of a concern, but the nice separation of the two emas kept me in until ducking out just below the xx.80 psych-line. This was the first "looking-good" opportunity I've had all day. There have been other less likely chances, but when you don't feel good about a potential trade, it's best to let it go.
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  • #1,505
  • Dec 16, 2008 10:45am Dec 16, 2008 10:45am
@ wanderer:
It works. Thanks again, mate.
Unfortunately, i donīt have a broker with MT4, so i can use it only in demo...
Donīt live for working, but work for living.
  • #1,506
  • Dec 16, 2008 11:41am Dec 16, 2008 11:41am
Entry at the SP @ 3802,
Exit at R1 @ 3820.
Quick and easy 18 Pips...
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Donīt live for working, but work for living.
  • #1,507
  • Dec 16, 2008 11:00pm Dec 16, 2008 11:00pm
Here's my first trade for today. Cable was moving in a sideways channel earlier. My buy stop was hit 10 points above the ceiling. Then price pulled back and met support at the broken level. TP was placed and hit at the psych level-1.5700. R1 is a good target too but there might not be enough vol to reach it yet. Right now it's pulling back. Gonna observe if there will be a continuation.
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Life is a journey... So is trading.
  • #1,508
  • Dec 17, 2008 3:49am Dec 17, 2008 3:49am
Nice trade, fx1! I was still deep in the land of nod right then! However, here's a nice little trade prompted by the Tweezer Tops indicated on the chart. If you notice, they formed right on the confluence formed by the 1.5600 psych-line and the two emas, giving a very strong indication of a good move. Entry was just under the xx.80 psych-line, but my exit was far too early, IMHO.
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  • #1,509
  • Dec 17, 2008 6:37am Dec 17, 2008 6:37am
I watched this one developing on the 15m chart. The higher lows of the pull-back provided a nice little TL which was broken by a spinning-top, leading to an entry just under the 1.5420 psych-line. The rest is history, as they say. It dropped like a stone, until halted by the 1.5280 psych-line. A great example of one of the developing opportunities that this method provides.
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  • #1,510
  • Dec 17, 2008 7:19am Dec 17, 2008 7:19am
Quoting eyevoltage
I watched this one developing on the 15m chart. The higher lows of the pull-back provided a nice little TL which was broken by a spinning-top, leading to an entry just under the 1.5420 psych-line. The rest is history, as they say. It dropped like a stone, until halted by the 1.5280 psych-line. A great example of one of the developing opportunities that this method provides.
For all who care to read, this is the E/U trade i took 15m trend line was broken entry was 1.4072 just below the 80 psych level I bailed out at d 1.4050 psych level. I am still a newbie to this technique but i think i'm getting a hang of it, Ev I am willing to learn.
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He that is from above is above all.
  • #1,511
  • Dec 17, 2008 8:00am Dec 17, 2008 8:00am
Quoting pipaholic67
For all who care to read, this is the E/U trade i took 15m trend line was broken entry was 1.4072 just below the 80 psych level I bailed out at d 1.4050 psych level. I am still a newbie to this technique but i think i'm getting a hang of it, Ev I am willing to learn.
Nice trade, mate, and as I said before, only one of the mixed bag of opportunities this method offers. This one is a breakout from a symmetrical triangle, and resulted in a good trade, although you probably got out a little early! Never mind, mate, we all do that from time to time!
  • #1,512
  • Dec 18, 2008 7:08am Dec 18, 2008 7:08am
Not often I look at the Swissy, but these two chances were too good to miss. I'd have posted them sooner, but other commitments took priority, I'm afraid.
The first trade came from the Gravestone Doji forming right on the xx.20 psych-line and 13ema confluence. Entry as shown just below the ema and exit just below the xx.80 psych-line.
The second trade couldn't be missed, with a bearish engulfing pattern inside a narrowing of the 34ema/13ema combination, and right on the xx.20 psych-line. Entry and exit points pretty straightforward, as shown.
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  • #1,513
  • Edited 8:36am Dec 18, 2008 8:10am | Edited 8:36am
Talk about getting out too early!!!
I'd watched all those dojis and spinning tops forming in succession on the confluence of the 8ema and the 1.5400 psych-line and entered just under the low of the last spinning-top. I exited as price started retreating from the 1.5350 psych-line, and felt duly satisfied with a good trade. See what happened next!
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  • #1,514
  • Dec 18, 2008 11:08am Dec 18, 2008 11:08am
Bullish engulfing candle right on the 1.0700 psych-line and pushing through the 1.0720 psych-line. Entry just above the engulfing candle's high and exit just under the 1.0780 psych-line. All very straightforward, and probably my last post on this thread.
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  • #1,515
  • Dec 18, 2008 11:13am Dec 18, 2008 11:13am
Quoting eyevoltage
probably my last post on this thread.
Donīt live for working, but work for living.
  • #1,516
  • Dec 18, 2008 12:07pm Dec 18, 2008 12:07pm
Quoting matsf
On the other hand.........
  • #1,517
  • Dec 18, 2008 12:39pm Dec 18, 2008 12:39pm
Donīt live for working, but work for living.
  • #1,518
  • Dec 18, 2008 1:31pm Dec 18, 2008 1:31pm
Quoting matsf
  • #1,519
  • Dec 18, 2008 8:11pm Dec 18, 2008 8:11pm
Why do you left the thread?


Quoting eyevoltage
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #1,520
  • Dec 19, 2008 3:07am Dec 19, 2008 3:07am
It's not often I get a trade as soon as I sit down in front of the computer, but I caught this one on Swissy, and what a beauty it was!
A nice little harami candle developed right on the confluence formed by the 13ema and the 1.0800 psych-line. Entry was just above the high of the harami, and I thought it would good for around 20 to 30 pips. Wow, was I wrong!!
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