Psych Levels, Pivots, and Trendlines - Resurrected | Page 77 | 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

  • #1,521
  • Dec 19, 2008 3:16am Dec 19, 2008 3:16am
Quoting eyevoltage
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!!
Nice Trade EV. I also notice that the xx20 psych level has provided support after your entry as seen from the low of the dragonfly doji candle.
Life is a journey... So is trading.
  • #1,522
  • Dec 19, 2008 3:36am Dec 19, 2008 3:36am
Quoting fx1dr3r
Nice Trade EV. I also notice that the xx20 psych level has provided support after your entry as seen from the low of the dragonfly doji candle.
Hi fx1. Yes, I saw that too. Text-book stuff! Nice to see you back, by the way. You're not around as much these days.
  • #1,523
  • Dec 19, 2008 4:10am Dec 19, 2008 4:10am
Quoting eyevoltage
Hi fx1. Yes, I saw that too. Text-book stuff! Nice to see you back, by the way. You're not around as much these days.
I've been busy preparing for my Christmas vacation. I'm leaving for my home town tomorrow. I'm gonna be back on the 3rd of January. So, I will be away for quite a while. I hope to spend more time in this wonderful thread next year.

I think this will be my last post for this year. Before I go, here's some trades that I made earlier. I have been looking at the EURJPY for quite some time now. Just decided to take some trades this week. The first two was trend continuation trades. The third one was a break down from a narrow channel at M5. Although, It seems that I pulled the plug early.

Happy holidays EV and others! See you all next year!
Attached Images
Life is a journey... So is trading.
  • #1,524
  • Dec 19, 2008 4:16am Dec 19, 2008 4:16am
Quoting fx1dr3r
I've been busy preparing for my Christmas vacation. I'm leaving for my home town tomorrow. I'm gonna be back on the 3rd of January. So, I will be away for quite a while. I hope to spend more time in this wonderful thread next year.

I think this will be my last post for this year. Before I go, here's some trades that I made earlier. I have been looking at the EURJPY for quite some time now. Just decided to take some trades this week. The first two was trend continuation trades. The third one was a break down from a narrow channel at M5. Although,...
Nice trades, fx1. All the best for Christmas, mate, and I'll see you in the new year.
Cheers
  • #1,525
  • Dec 19, 2008 4:20am Dec 19, 2008 4:20am
Good morning fellas, big up to EV and mastf i decided to share this trade i took some minutes ago classical fibo,13ema 34ema trade.price could retraced at the 61.8 level and and broke the 13ema I entered some pips below the 13 closed half of my position at 1.4080 and let the other half run to 4050. So EV how am I doing?
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 14 KB
He that is from above is above all.
  • #1,526
  • Dec 19, 2008 4:20am Dec 19, 2008 4:20am
I'm getting quite fond of Swissy just lately. This one was as a result of another little harami candle and an entry just above the 13ema. I nearly pulled the plug when I saw that little gravestone doji, but then the emas were well separated, so I stuck with it. Exit as indicated when price started retreating from the xx.80 psych-line.
Attached Image
  • #1,527
  • Dec 19, 2008 4:35am Dec 19, 2008 4:35am
Quoting pipaholic67
Good morning fellas, big up to EV and mastf i decided to share this trade i took some minutes ago classical fibo,13ema 34ema trade.price could retraced at the 61.8 level and and broke the 13ema I entered some pips below the 13 closed half of my position at 1.4080 and let the other half run to 4050. So EV how am I doing?
Hello, mate, and that's a nice fib trade. Your entry point was sound, although I might possibly have entered just under the 1.4100 psych-line, being a little more conservative!
I see you use a stochastic indicator, mate. Is it indispensable to you, or do you think you could do without it and just base your decisions on what's happening on the chart? Just wondering, mate.
  • #1,528
  • Dec 19, 2008 4:49am Dec 19, 2008 4:49am
Quoting eyevoltage
Hello, mate, and that's a nice fib trade. Your entry point was sound, although I might possibly have entered just under the 1.4100 psych-line, being a little more conservative!
I see you use a stochastic indicator, mate. Is it indispensable to you, or do you think you could do without it and just base your decisions on what's happening on the chart? Just wondering, mate.
About the stochastic indicator I really dont remember what its doing there cos i personally dont trade with it, I guess i left it there while i was experimenting with another system on my demo. The next time i post it will definitely not be on my charts. As touching the psych level u mentioned i had a hunch price would go through it because of the fib retracement level.

Thanks once again for your insights.
He that is from above is above all.
  • #1,529
  • Dec 19, 2008 5:30am Dec 19, 2008 5:30am
Quoting pipaholic67
About the stochastic indicator I really dont remember what its doing there cos i personally dont trade with it, I guess i left it there while i was experimenting with another system on my demo. The next time i post it will definitely not be on my charts. As touching the psych level u mentioned i had a hunch price would go through it because of the fib retracement level.

Thanks once again for your insights.
That's happened to me in the past. I've suddenly realised that the indicator that's sitting at the bottom of the screen is pointless because it's not actually doing anything useful!
  • #1,530
  • Dec 19, 2008 6:23am Dec 19, 2008 6:23am
EV, what iīm asking myself all the time:

Do you have trades, when you have to pull your SL and got stopped out ?
Or do you have a hit ratio of 100% ?

Or do you have the HOLY GRAIL ?
Donīt live for working, but work for living.
  • #1,531
  • Dec 19, 2008 6:33am Dec 19, 2008 6:33am
Quoting matsf
EV, what iīm asking myself all the time:

Do you have trades, when you have to pull your SL and got stopped out ?
Or do you have a hit ratio of 100% ?

Or do you have the HOLY GRAIL ?
Is it a bird? Is it a plane? No! It's SUPERTRADER!!!!

Give me a break, mate. I have failed trades, just like anyone else. The Holy Grail does exist, though. It's called "Hindsight". The only problem is that you can't USE it!!
  • #1,532
  • Dec 19, 2008 9:03am Dec 19, 2008 9:03am
Quoting eyevoltage
Is it a bird? Is it a plane? No! It's SUPERTRADER!!!!

Great answer !

Can you show us a trade where you have failed.
Because i could also learn from those trades.
E.g. how you use stops etc...
Donīt live for working, but work for living.
  • #1,533
  • Dec 19, 2008 10:26am Dec 19, 2008 10:26am
Hereīs my "@work-trade" today.

Short @ 1,3981 after the clear s/r @ SP 1,4000.
If i had the possibility to watch the screen, i would have exited the trade manually after the green hammer.

But after the Euro fell under 1,3930, i put the stop to 1,3954, and there i got stopped out.

Would, should, if,... It doesnīt help me.

Fact: 27 Pips for me !
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
Donīt live for working, but work for living.
  • #1,534
  • Dec 21, 2008 9:08am Dec 21, 2008 9:08am
Guys, thank you for making this thread a good place to learn and share at. Special thanks to the regular posters (I guess you know who you are )!

I wish you all Merry Christmas and a very prosperous New Year! Happy trading in 2009!
One Chart is Worth Ten Thousand Words.
  • #1,535
  • Dec 22, 2008 10:35am Dec 22, 2008 10:35am
A typical S/R-trade.

EURUSD broke through the range, retraced back to the lower range-border,
my entry short @ 65, exit 6 minutes later @ 12.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 100 KB
Donīt live for working, but work for living.
  • #1,536
  • Dec 22, 2008 10:42am Dec 22, 2008 10:42am
Quoting matsf
A typical S/R-trade.

EURUSD broke through the range, retraced back to the lower range-border,
my entry short @ 65, exit 6 minutes later @ 12.
A nice trade, mate, and well done for waiting for the retracement before entering. A classic pattern which happens all the time.
I thought you were heading for your home-town?
  • #1,537
  • Dec 22, 2008 11:11am Dec 22, 2008 11:11am
Quoting fx1dr3r
I'm leaving for my home town tomorrow.
I think you meant wanderer ?

Thanks for your compliment.
What an honour...
Donīt live for working, but work for living.
  • #1,538
  • Dec 22, 2008 11:23am Dec 22, 2008 11:23am
Quoting matsf
I think you meant wanderer ?

Thanks for your compliment.
What an honour...
Sorry about getting you mixed up with fx1, mate. Must be the time of year.......too much on my mind!

Not had time for any trading today. I've been monitoring on and off, but been too busy on the domestic front. It's only because of Christmas. Normal service will be resumed when things return to normal, hopefully.
  • #1,539
  • Dec 22, 2008 12:42pm Dec 22, 2008 12:42pm
Just look at this chart:
The M5-Chart of today in EURUSD.
The lines are just the SPīs.
Not more...
Amazing, right ?
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 103 KB
Donīt live for working, but work for living.
  • #1,540
  • Dec 29, 2008 2:58am Dec 29, 2008 2:58am
Hope everybody had a good Christmas!
Just thought I'd post this swissy chart from this morning showing some nice trade indicator/entry examples (the khaki lines are TL's). They're pretty self-explanatory.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf031.gif Size: 19 KB
32 traders viewing now