Psych Levels, Pivots, and Trendlines - Resurrected | Page 110 | 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

  • #2,181
  • Mar 16, 2009 6:20am Mar 16, 2009 6:20am
Quoting Islander
Cable held a higher low and then found support at its 4025 level 25 mins before the Frankfurt Open.

This was also the 34 ema - so a clear buy signal.

The pull back to the 4050 level during Frankies Hour was another buy signal - also these were in line with the current hourly trend - up as both price and the 34 ema are above the upwards sloping 60m 20 ema.

Price then stalled in the grey resistance area - 4160 was supprort a couple of weeks ago - so it was a good area to TP and trade both sides of the box before the attempted push down...
Great chart, mate, and spot on analysis as usual. I learn something every day from your contributions, mate.
Cheers
  • #2,182
  • Mar 16, 2009 6:23am Mar 16, 2009 6:23am
Quoting eyevoltage
Great chart, mate, and spot on analysis as usual. I learn something every day from your contributions, mate.
Cheers
Thanks EV - reading the Price Action around the levels is getting easier all the time. I'm also trying to use VSA to help with my trading decisions... http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #2,183
  • Mar 16, 2009 6:33am Mar 16, 2009 6:33am
Quoting Islander
Thanks EV - reading the Price Action around the levels is getting easier all the time. I'm also trying to use VSA to help with my trading decisions... http://www.forexfactory.com/images/icons/icon12.gif
I assume you're on about using Volume as an aid towards your trading decisions, Islander. I've seen that mentioned a few times on this forum lately, but I was always under the impression that in Forex, the value of using volume was minimal at best?
  • #2,184
  • Mar 16, 2009 6:42am Mar 16, 2009 6:42am
Quoting eyevoltage
I assume you're on about using Volume as an aid towards your trading decisions, Islander. I've seen that mentioned a few times on this forum lately, but I was always under the impression that in Forex, the value of using volume was minimal at best?

Yes, I too thought that and I've now changed my mind as others have shown that they are able to use what's generally available - volumewise - to help with trading forex.

There are several useful threads......http://www.forexfactory.com/showthread.php?t=154339 and http://www.forexfactory.com/showthread.php?t=157629 are two of them....
Trading Levels with WRBs
  • #2,185
  • Mar 16, 2009 6:43am Mar 16, 2009 6:43am
Quoting Islander
I dont like taking new positions late in the Europen mornings, prefering to wait for the early US traders to arrive. However, I do have a small short off the 225 level. looking for a retrace towards the 4165 area that acted as resistance earlier. I have the 38% fib retrace at 4147.

As I see the 34 ema has now turned flat and is at the 175 level, I'll put my TP there.....
4175 level reached......
Trading Levels with WRBs
  • #2,186
  • Mar 16, 2009 6:47am Mar 16, 2009 6:47am
Quoting Islander
4175 level reached......
Well done, mate. Sometimes I think you have a crystal ball tucked away somewhere!!
  • #2,187
  • Mar 16, 2009 7:31am Mar 16, 2009 7:31am
....I saw price dropping towards the top of the range that Islander mentioned in one of his earlier posts. Seeing as resistance turns to support on a regular basis, I decided to take the bounce as and when it occured. It couldn't have bounced more accurately if it had tried!! Entry and exit as indicated.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd685.gif Size: 25 KB
  • #2,188
  • Mar 16, 2009 7:43am Mar 16, 2009 7:43am
Quoting eyevoltage
....I saw price dropping towards the top of the range that Islander mentioned in one of his earlier posts. Seeing as resistance turns to support on a regular basis, I decided to take the bounce as and when it occured. It couldn't have bounced more accurately if it had tried!! Entry and exit as indicated.

Great trade EV.....mmm - I too bought at the 4162 level....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #2,189
  • Mar 16, 2009 7:49am Mar 16, 2009 7:49am
Quoting Islander
Great trade EV.....mmm - I too bought at the 4162 level....http://www.forexfactory.com/images/icons/icon12.gif
See? Great minds think alike!!
  • #2,190
  • Edited 9:09am Mar 16, 2009 9:07am | Edited 9:09am
I couldn't post this straight away as I was called away from the computer. Anyway, here's a nice little trade initiated by a shooting star forming rather neatly between the 13ema and the xx50 psych-line. Entry and exit as indicated.
Attached Image
  • #2,191
  • Mar 16, 2009 9:25am Mar 16, 2009 9:25am
Hi all, I can see today some nice charts are uploaded as usual.

I just found a nice candlestick patterns website for FX:
http://www.fxwords.com/b/bearish-reversal-patterns.html
The candlestick patterns in FX can be slightly different from those in stocks. (e.g. we seldom have gaps in FX except after weekend). This website has some really nice illustration of candlestick patterns in FX and corresponding comparison with those in stocks. Hope this helps some other newer guys like me.

Cheers.
  • #2,192
  • Mar 16, 2009 9:41am Mar 16, 2009 9:41am
Quoting dreamtrader
Hi all, I can see today some nice charts are uploaded as usual.

I just found a nice candlestick patterns website for FX:
http://www.fxwords.com/b/bearish-reversal-patterns.html
The candlestick patterns in FX can be slightly different from those in stocks. (e.g. we seldom have gaps in FX except after weekend). This website has some really nice illustration of candlestick patterns in FX and corresponding comparison with those in stocks. Hope this helps some other newer guys like me.

Cheers.
That's a great site for candlestick tuition, mate. Here's another one that I always find useful: http://www.candlestickforum.com/PPF/...andlestick.asp
Tons of info in there!
Cheers.
  • #2,193
  • Mar 16, 2009 9:53am Mar 16, 2009 9:53am
Quoting eyevoltage
That's a great site for candlestick tuition, mate. Here's another one that I always find useful: http://www.candlestickforum.com/PPF/...andlestick.asp
Tons of info in there!
Cheers.
Hi EV, yours is very good too, I particularly like its explanation of the psychology of each pattern. Bookmarked it, thanks for the link.
  • #2,194
  • Mar 16, 2009 11:01am Mar 16, 2009 11:01am
This one was pretty straightforward, with the Gravestone Doji forming on the confluence formed by the xx80 psych-line and the 13ema. A temporary correction at the R1 line and then a nice drop to just under the xx50 psych-line.

Edit: Dreamcatcher, you're welcome.
Attached Image
  • #2,195
  • Edited 3:39pm Mar 16, 2009 11:10am | Edited 3:39pm
Quoting eyevoltage
This one was pretty straightforward, with the Gravestone Doji forming on the confluence formed by the xx80 psych-line and the 13ema. A temporary correction at the R1 line and then a nice drop to just under the xx50 psych-line.

Edit: Dreamcatcher, you're welcome.
EV, you could (should? ) write a book: from a practical point of view your analysis is not less useful than Nison's (and is easier to understand).
One Chart is Worth Ten Thousand Words.
  • #2,196
  • Mar 16, 2009 11:35am Mar 16, 2009 11:35am
Quoting Forex007
EV, you could (should? ) write a book: from a practical point of view your analysis is not less useful than Nielson's (and is easier to understand).
I appreciate your comments, mate, but who's Nielson?
  • #2,197
  • Mar 16, 2009 11:41am Mar 16, 2009 11:41am
Quoting eyevoltage
....I saw price dropping towards the top of the range that Islander mentioned in one of his earlier posts. Seeing as resistance turns to support on a regular basis, I decided to take the bounce as and when it occured. It couldn't have bounced more accurately if it had tried!! Entry and exit as indicated.
I see, you got it !!!
Simple s/r-trading.
Nice, mate !
Donīt live for working, but work for living.
  • #2,198
  • Mar 16, 2009 11:45am Mar 16, 2009 11:45am
Good afternoon everyone!

Been so busy today I haven't had much time to post any charts! Just thought I'd quickly share this one with you before heading home! Shooting star formation piercing the EMAs and just touching the 1.5400 psych level. Took the break below it (which was also just under R1) and managed to collect 22 pips on it (for an initial 11 pip risk).

Glad to see everyone having a good start to the week!

Dan
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 16 KB
  • #2,199
  • Mar 16, 2009 12:00pm Mar 16, 2009 12:00pm
Quoting matsf
I see, you got it !!!
Simple s/r-trading.
Nice, mate !
Thanks, pal. I really should look out for more of those. Sometimes, one can get a bit TOO dependent on MA's!!
Nice to see your charts last week, mate. I thought you'd deserted us!!
Cheers
  • #2,200
  • Mar 16, 2009 12:03pm Mar 16, 2009 12:03pm
Quoting DanUK
Good afternoon everyone!

Been so busy today I haven't had much time to post any charts! Just thought I'd quickly share this one with you before heading home! Shooting star formation piercing the EMAs and just touching the 1.5400 psych level. Took the break below it (which was also just under R1) and managed to collect 22 pips on it (for an initial 11 pip risk).

Glad to see everyone having a good start to the week!

Dan
Nice one, son. Were you at work?
25 traders viewing now