Psych Levels, Pivots, and Trendlines - Resurrected | Page 128 | 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

  • #2,541
  • Apr 29, 2009 6:03am Apr 29, 2009 6:03am
Quoting coaster
yes and no, i wud say.. take those fibo trades we post every second day.. big boys hv to do ntg with them as big boys dont chase sml moves like us and don't draw fibos when hi and low are 50 pips away from each other ... i think partly it has smth to do with dynamic harmony.. it's like if u move 3 steps fwd 1 steps back u r making a progress but if u do 5 fwd 4 back there is not much - u loose momentum..
If a big bank had an order to buy or sell - on the client's behalf - at price X (say 1.4500 for cable), that's the rate they will do the transaction at as far as their client is concerned; anything "extra" goes to that bank's pocket. So, a bank's trader (a good one ) will not dump the whole order at once, but spread it over some period - watching all those mini-RTs on as low as M1. Think about this, Coaster - price stops at some level for a reason, i.e. there should be enough traders out there to "collectively" have some opinion about that level.

But I could be wrong
One Chart is Worth Ten Thousand Words.
  • #2,542
  • Apr 29, 2009 6:05am Apr 29, 2009 6:05am
Quoting coaster
re houswives i heard they r on avrg more successful than male traders... they don't hv adrenalin rushes like us men which prevents them from going va-bank and loosing everything
I guess women have better self-preservation instints (as mothers). How many times do men have to lose all their money to learn about MM and SLs? I guess it's along the lines of women being safer drivers...
One Chart is Worth Ten Thousand Words.
  • #2,543
  • Apr 30, 2009 4:46am Apr 30, 2009 4:46am
Morning, folks....
A lovely fib trade just completed on Cable. Retracement to just above the Short Entry (38.2%) line, and an entry as price pushed through the 1.4900 psych-line. A nice ride all the way down to Target 3, and an exit as price started heading northwards again.
Attached Image
  • #2,544
  • Edited 5:08am Apr 30, 2009 4:51am | Edited 5:08am
Something slightly different for a change.

P.S. EV/Dan, the trade was triggered by pair divergence, btw, which occured 1 bar prior my entry bar (second double bottom).
Attached Image (click to enlarge)
Click to Enlarge Name: UF_M15.png Size: 58 KB
One Chart is Worth Ten Thousand Words.
  • #2,545
  • Apr 30, 2009 4:54am Apr 30, 2009 4:54am
Quoting eyevoltage
Morning, folks....
A lovely fib trade just completed on Cable. Retracement to just above the Short Entry (38.2%) line, and an entry as price pushed through the 1.4900 psych-line. A nice ride all the way down to Target 3, and an exit as price started heading northwards again.
Monster RR, EV!
One Chart is Worth Ten Thousand Words.
  • #2,546
  • Apr 30, 2009 5:11am Apr 30, 2009 5:11am
I ment to post this earlier......loads of wicks / shadows are always a good alert to a possible reversal, here by the dashed green mid pivot level.....then plenty of buying opportunities on the higher lows followed by more wicks around the 950 level, wait to see how far the bounce off another dashed green mid pivot level / aqua 34 ema area goes - actually to a lower high ~ the 38% retracement for a clear sell.....

As I type, there's a bounce in progress into the fib zone - confluenece with the 875 and 900 levels......couldn't be much clearer...........happy trading
Attached Image (click to enlarge)
Click to Enlarge Name: apr 30 cable 5m 1030.gif Size: 15 KB
Trading Levels with WRBs
  • #2,547
  • Apr 30, 2009 5:17am Apr 30, 2009 5:17am
Quoting Forex007
Something slightly different for a change.

P.S. EV/Dan, the trade was triggered by pair divergence, btw, which occured 1 bar prior my entry bar (second double bottom).
A really good well-thought out trade, mate. A counter-trend trade?

Yeah, I never know what to call those candles either! It's not strictly a hammer, as the shadow should be two thirds longer than the body, so I guess we should settle for an upside-down pin-bar!
  • #2,548
  • Apr 30, 2009 5:35am Apr 30, 2009 5:35am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Fib trade.

Observed on 15-min, but couldn't make anything of the bars on the 15-min (long shadows and such - nothing obvious).

Went down to 5-min and took a break of the Harami that straddled the previous price-pivot at .25.

Entry and exits as shown on chart. First exit was at previous high from around 09:00GMT and second exit was watching the tick and seeing the battle price was having with 131.00 (it's a major level).


Magnus
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-04-30_eurjpy_16.gif Size: 25 KB
  • #2,549
  • Apr 30, 2009 5:38am Apr 30, 2009 5:38am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
I always feel like this thread is invisible to the rest of the FF.

It's like a secret society...

I'm still trying to figure out if it is one of the best, or the best thread on FF.


Keep up the awesome work!


Magnus
  • #2,550
  • Apr 30, 2009 5:52am Apr 30, 2009 5:52am
This one follows on from my last trade.
A deep retracement that took some time to actually turn around with a trend continuation. Price eventually reached the Long Entry (61.8%) line (which was bang on the xx80 psych-line) before heading southwards. My entry was just under the Short Entry line and the reason I bailed out before Target 1 was that I had doubts it would actually REACH there, due to the long period of retracement and the actual DEPTH of retracement, but it'll probably show me who's boss! Hope that makes sense.
Attached Image
  • #2,551
  • Apr 30, 2009 5:56am Apr 30, 2009 5:56am
Quoting Islander
I ment to post this earlier......loads of wicks / shadows are always a good alert to a possible reversal, here by the dashed green mid pivot level.....then plenty of buying opportunities on the higher lows followed by more wicks around the 950 level, wait to see how far the bounce off another dashed green mid pivot level / aqua 34 ema area goes - actually to a lower high ~ the 38% retracement for a clear sell.....

As I type, there's a bounce in progress into the fib zone - confluenece with the 875 and 900 levels......couldn't be much clearer...........happy...
As I keep repeating ad nauseum, your charts are a work of art! I love your sound reasoning and analysis which is a lesson to us all. Keep up the good work, mate......PLEASE!!!
  • #2,552
  • Apr 30, 2009 6:03am Apr 30, 2009 6:03am
Quoting Yuppie
Fib trade.

Observed on 15-min, but couldn't make anything of the bars on the 15-min (long shadows and such - nothing obvious).

Went down to 5-min and took a break of the Harami that straddled the previous price-pivot at .25.

Entry and exits as shown on chart. First exit was at previous high from around 09:00GMT and second exit was watching the tick and seeing the battle price was having with 131.00 (it's a major level).


Magnus
Good trade, mate, and I particularly like this one because it's a great example of changing TF's in order to narrow down (or see more clearly) the entry point. Spot on, mate!
  • #2,553
  • Apr 30, 2009 6:08am Apr 30, 2009 6:08am
Thanks EV - you're doing pretty well yourself this morning

PS Sold off that retrace that I mentioned earlier.....closed for ~50 pips as it bounced up off ~ the 800 level.....dont you just love these sweet spots...
Trading Levels with WRBs
  • #2,554
  • Apr 30, 2009 6:13am Apr 30, 2009 6:13am
Quoting Yuppie
I always feel like this thread is invisible to the rest of the FF.

It's like a secret society...

I'm still trying to figure out if it is one of the best, or the best thread on FF.


Keep up the awesome work!


Magnus
Cool chart you posted.....I too use the 15m a lot and have one screen dedicated to it, althought I always trade off the 5m - sometimes even the 1m...

For me. I'm happy being invisible - http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #2,555
  • Apr 30, 2009 6:47am Apr 30, 2009 6:47am
This was an opportunist sort of trade, as I was called away from the computer, and just got back as the second doji was forming on this chart. Seeing as both dojis were positioned on the lower psych-line of the zone, it was worth watching to see what happened. The trade is pretty self-explanatory, and the only reason I got out when I did was because price had reached the 61.8% retracement fib line (not shown) and looked ripe for a reversal.
Attached Image
  • #2,556
  • Apr 30, 2009 6:52am Apr 30, 2009 6:52am
Quoting eyevoltage
Morning, folks....
A lovely fib trade just completed on Cable. Retracement to just above the Short Entry (38.2%) line, and an entry as price pushed through the 1.4900 psych-line. A nice ride all the way down to Target 3, and an exit as price started heading northwards again.
Hi EV, is this a counter-trend trade? If not, how did you see the trend is down for this one? Thanks.
  • #2,557
  • Apr 30, 2009 7:12am Apr 30, 2009 7:12am
Quoting dreamtrader
Hi EV, is this a counter-trend trade? If not, how did you see the trend is down for this one? Thanks.
To be honest, I never thought of it as a possible counter-trend trade. I just saw that price had peaked and started retracing. In situations like that, it's always worth waiting for price to make a new swing low, and then pull a fib line between there and the previous swing high. If everything falls into place, then a fib trend-continuation trade is very much on the cards. Hope this helps?
  • #2,558
  • Apr 30, 2009 7:34am Apr 30, 2009 7:34am
Quoting eyevoltage
Price eventually reached the Long Entry (61.8%) line (which was bang on the xx80 psych-line) before heading southwards.
EV, in what circumstances you'd have gone Long at the... "Long Entry" line?
One Chart is Worth Ten Thousand Words.
  • #2,559
  • Apr 30, 2009 7:42am Apr 30, 2009 7:42am
Quoting Forex007
EV, in what circumstances you'd have gone Long at the... "Long Entry" line?
If there was a definite UP-trend, a retracement from a swing high and then a trend-continuation up through the Long Entry line, which is equivalent to the 38.2% fib line.
  • #2,560
  • Apr 30, 2009 7:57am Apr 30, 2009 7:57am
Quoting eyevoltage
To be honest, I never thought of it as a possible counter-trend trade. I just saw that price had peaked and started retracing. In situations like that, it's always worth waiting for price to make a new swing low, and then pull a fib line between there and the previous swing high. If everything falls into place, then a fib trend-continuation trade is very much on the cards. Hope this helps?
It helps.
Looking at the chart again, actually a lower low is made before your entry (the previous swing low is a minor swing low).
15 traders viewing now