Psych Levels, Pivots, and Trendlines - Resurrected | Page 84 | 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

  • #1,661
  • Jan 29, 2009 10:00am Jan 29, 2009 10:00am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
eyevoltage, do you ever have a losing trade?...

I love the simplicity, been watching this thread closely recently.

Infact, took this trade, a bit more convoluted perhaps than your trades, but a profit nonetheless.


Magnus
Attached Image (click to enlarge)
Click to Enlarge Name: forEVthread_1.jpg Size: 74 KB
  • #1,662
  • Jan 29, 2009 10:59am Jan 29, 2009 10:59am
EV, real nice trades. I love your stuff !!!
Don´t live for working, but work for living.
  • #1,663
  • Jan 29, 2009 11:01am Jan 29, 2009 11:01am
Quoting Yuppie
eyevoltage, do you ever have a losing trade?...

I love the simplicity, been watching this thread closely recently.

Infact, took this trade, a bit more convoluted perhaps than your trades, but a profit nonetheless.


Magnus
Nice trade, mate. Who cares about convoluted so long as there's a profit in the end?

No, I never get losing trades, mate. It's bad for business!!!

Seriously, I've lost trades in the past purely and simply because of carelessness (not keeping my eye on the trade), SL being too tight (something I still haven't quite mastered), and others by doing all the right things and being wrong! Sounds daft, I know, but the market will do its own thing and sometimes waltz off in a totally different direction from what YOU'VE assumed it will. Them's the breaks, as they say.

Nice to see you on here, Magnus. Some more postings would be very welcome, mate.
Cheers.
  • #1,664
  • Jan 29, 2009 11:22am Jan 29, 2009 11:22am
I took several trades today following your style. They worked but I am too used to the Nel 5 minute style and bailed out too early. I'll start posting in a week or so when I get settled on a long vacation after a 4 day trip.
  • #1,665
  • Jan 29, 2009 12:13pm Jan 29, 2009 12:13pm
Here's a chart and some random thoughts.

I went for lunch around 11:15 EST and returned shortly after noon.

I almost cried... several text book trades.

Anyhow... any questions about the chart let me know.

EV - thanks for keeping the thread alive... you are doing a great job.

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: Jan292008USSession.GIF Size: 31 KB
  • #1,666
  • Jan 29, 2009 5:31pm Jan 29, 2009 5:31pm
Quoting matsf
EV, real nice trades. I love your stuff !!!
I like yours as well. Post some charts!
  • #1,667
  • Jan 29, 2009 5:36pm Jan 29, 2009 5:36pm
Quoting mdowd
I took several trades today following your style. They worked but I am too used to the Nel 5 minute style and bailed out too early. I'll start posting in a week or so when I get settled on a long vacation after a 4 day trip.
I've noticed you lurking in the wings, mate!! I checked out your profile and saw that you're a big fan of PhilNel's 5mIntraday system. That Golfer is amazing, isn't he? Him and me are mates from way back when I used to frequent that thread.
I'm pleased you were successful with your trades today, and I look forward to seeing your posts when you're ready.
Cheers for now.
  • #1,668
  • Jan 29, 2009 5:39pm Jan 29, 2009 5:39pm
Quoting acumen
Here's a chart and some random thoughts.

I went for lunch around 11:15 EST and returned shortly after noon.

I almost cried... several text book trades.

Anyhow... any questions about the chart let me know.

EV - thanks for keeping the thread alive... you are doing a great job.

Mike
Thanks for the kind words, Mike. It's no problem at all.....I love this method and this thread is well worth keeping up.
Question re your chart: Where does one get that neat labelling, and those jazzy arrows?
Take care.
  • #1,669
  • Jan 29, 2009 6:33pm Jan 29, 2009 6:33pm
Quoting eyevoltage
Thanks for the kind words, Mike. It's no problem at all.....I love this method and this thread is well worth keeping up.
Question re your chart: Where does one get that neat labelling, and those jazzy arrows?
Take care.
I love Snagit.

m
  • #1,670
  • Edited 3:54am Jan 30, 2009 3:28am | Edited 3:54am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Inner bars and the 50 level here...

If you check out E/J the same setup was there.

If you check out U/J, a similar setup again.


Magnus


EDIT: Bar close above .00 level not .50
Attached Image (click to enlarge)
Click to Enlarge Name: forEVthread_2.jpg Size: 61 KB
  • #1,671
  • Jan 30, 2009 3:51am Jan 30, 2009 3:51am
Quoting Yuppie
Inner bars and the 50 level here...

If you check out E/J the same setup was there.

If you check out U/J, a similar setup again.


Magnus
Can you clarify a little, mate? Do you mean close above the .00 level, and the trade is between the two horizontal arrows?
Cheers
  • #1,672
  • Jan 30, 2009 3:57am Jan 30, 2009 3:57am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyevoltage
Can you clarify a little, mate? Do you mean close above the .00 level, and the trade is between the two horizontal arrows?
Cheers

I do indeed. Made an edit to the post.

Yes, arrows are entry and exit. Didn't post the price I got in and out at as the spread with my spreadbetting firm should be illegal!


Magnus
  • #1,673
  • Jan 30, 2009 4:32am Jan 30, 2009 4:32am
Quoting Yuppie
I do indeed. Made an edit to the post.

Yes, arrows are entry and exit. Didn't post the price I got in and out at as the spread with my spreadbetting firm should be illegal!


Magnus
Cheers for that, mate, and I wonder which SB firm you're with? GBP/JPY with my SB firm is 8 pips.
  • #1,674
  • Jan 30, 2009 4:45am Jan 30, 2009 4:45am
Just finished this one, and I'm glad I got out when I did. For once, I wasn't sure whether or not the "signal" candle for the reversal was a hammer or a spinning-top, because of the slightly longer upper shadow. However, the long lower shadow clinched it really as it was very bullish. I was ready to pull the plug at the xx00 psych-line, but price sailed through, and as soon as it reached the xx20 psych-line, I jumped ship.
Attached Image
  • #1,675
  • Jan 30, 2009 5:13am Jan 30, 2009 5:13am
The spinning-top and doji right on the xx80 psych-line initiated this trade, with the exit again at the xx20 psych line. Again, nice and simple.
Attached Image
  • #1,676
  • Jan 30, 2009 5:16am Jan 30, 2009 5:16am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyevoltage
The spinning-top and doji right on the xx80 psych-line initiated this trade, with the exit again at the xx20 psych line. Again, nice and simple.

You're on fire EV...

Here's FTSE... not much of a follow-through.
Attached Image
  • #1,677
  • Jan 30, 2009 5:20am Jan 30, 2009 5:20am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyevoltage
Cheers for that, mate, and I wonder which SB firm you're with? GBP/JPY with my SB firm is 8 pips.

Won't mention which firm I trade with for my spreadbetting incase I get thrown off here... but I'm sure you can take a guess EV...


Magnus
  • #1,678
  • Edited 5:26am Jan 30, 2009 5:24am | Edited 5:26am
Quoting Yuppie
Won't mention which firm I trade with for my spreadbetting incase I get thrown off here... but I'm sure you can take a guess EV...


Magnus
PM me. You show me yours and I'll show you mine!!!

Edit: I never think about looking at the indices.
  • #1,679
  • Jan 30, 2009 6:07am Jan 30, 2009 6:07am
I didn't take this trade, because it's something I hardly notice when it happens, thereby missing out on some profitable moves. When price crosses one of your S/R lines it's always worth taking note and waiting to see if it retraces, bounces off the line and then continues with the trend. I know they occur frequently, but I must make more of an effort to notice them then they DO happen.
Attached Image
  • #1,680
  • Jan 30, 2009 7:07am Jan 30, 2009 7:07am
This was what I was pointing out before. Price drops through a support line, then does a slight retracement before setting off southwards again. My entry was just below the low of the first bearish candle after the retracement, and exit was just above the Pivot Point. Strictly speaking, I shouldn't have been looking to go short ABOVE the PP, which is why I waited for price to break below the low of the bearish candle I mentioned.
10 traders viewing now