Psych Levels, Pivots, and Trendlines - Resurrected | Page 130 | 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

  • #2,581
  • May 4, 2009 7:36am May 4, 2009 7:36am
Quoting eyevoltage
So any special plans today, mate?
With 12C and rain, the options are somewhat limited... I am just catching up on whatever I don't have time for during the week, so not much "holidaying" as such. Do you get to go hiking, EV? Or coat-walking?
One Chart is Worth Ten Thousand Words.
  • #2,582
  • May 4, 2009 8:18am May 4, 2009 8:18am
Quoting Forex007
With 12C and rain, the options are somewhat limited... I am just catching up on whatever I don't have time for during the week, so not much "holidaying" as such. Do you get to go hiking, EV? Or coat-walking?
Due to the circs that I live under, I don't get a lot of opportunity to get out and about, unfortunately. Possibly, once every few weeks I'll manage to drive off to the Derwentwater/Thirlmere areas in the Lake District (about 25 minutes in the car) for a spot of solitude and some bird-watching, which I find relaxes me a hell of a lot. Hiking was something I used to do in the Scouts when I was a kid, and Hiking became Route Marching when I was in the Army! I'm totally cured of all that now, I'm very happy to say!!
  • #2,583
  • May 4, 2009 9:33am May 4, 2009 9:33am
Hi friends!
A strange day...
with almost ornamental symmetry formations..
ever seen anth like that? me not..
Attached Image (click to enlarge)
Click to Enlarge Name: symmetry.gif Size: 19 KB
  • #2,584
  • May 4, 2009 9:43am May 4, 2009 9:43am
Quoting coaster
Hi friends!
A strange day...
with almost ornamental symmetry formations..
ever seen anth like that? me not..
Beautiful setup, Coaster, well spotted! Reverse H&S or - if you "combine" several candles together (i.e. take Open of the 1st and Close of the last one) - a "pinbar" (hammer). Nice one!
One Chart is Worth Ten Thousand Words.
  • #2,585
  • May 4, 2009 10:21am May 4, 2009 10:21am
Quoting Forex007
Beautiful setup, Coaster, well spotted! Reverse H&S or - if you "combine" several candles together (i.e. take Open of the 1st and Close of the last one) - a "pinbar" (hammer). Nice one!
In fact, M30 did all the "combining" - see the attached chart.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 36 KB
One Chart is Worth Ten Thousand Words.
  • #2,586
  • May 4, 2009 10:43am May 4, 2009 10:43am
Seems like "everybody" saw this reversal.
I traded it on the H1.
Price turned at S1.
My first entry:
1.3240
The first exit was @ 1.3290.
The next entry at 1.3320 as i saw price moving further on the M5.
Exit at the swing high @ 1.3350.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 19 KB
Don´t live for working, but work for living.
  • #2,587
  • May 4, 2009 10:45am May 4, 2009 10:45am
But before that, a nice s/r-level built up at the central pivot point.

Entry: 1.3265
Exit: 1.3245
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.gif Size: 16 KB
Don´t live for working, but work for living.
  • #2,588
  • May 4, 2009 10:48am May 4, 2009 10:48am
Quoting coaster
Hi friends!
A strange day...
with almost ornamental symmetry formations..
ever seen anth like that? me not..
That nice symmetrical pattern you posted was right on the S1 line on my chart, as well as in the 20/25 psych-zone. No wonder it reversed and headed northwards with a vengeance!!!
007, I haven't traded today, but I've been watching in passing, so to speak, whilst getting on with other things.
  • #2,589
  • May 4, 2009 10:53am May 4, 2009 10:53am
Nice trading, matsf, and lovely clear charts. Nice to see you back.
  • #2,590
  • May 4, 2009 11:15am May 4, 2009 11:15am
Wish I'd been in a position to trade today, 'cos I might have traded these. Yeah, hindsight, 20/20 etc., but with a trend like that, and the pull-backs involved, they would have been hard to miss!!
Attached Image
  • #2,591
  • May 5, 2009 12:27am May 5, 2009 12:27am
Quoting Forex007
In fact, M30 did all the "combining" - see the attached chart. I wonder if anybody of you traded it..
No, 007, I wasn't trading too.. only saw this in the evening.. seems only matsf collected all the fruits... well done!
  • #2,592
  • May 5, 2009 2:06am May 5, 2009 2:06am
I only traded yesterday morning and so also missed out on that nice reversal - well done to those that banked pips

This morning the 4985 level - also a Murray Math level for today - has provided some great opportunities.

Now after the grave-yard doji high I'll be watching to see what the Brits do after their holiday......April's high is just abover at 1.5075.....
Attached Image (click to enlarge)
Click to Enlarge Name: may 5 cable 5m 0700.gif Size: 11 KB
Trading Levels with WRBs
  • #2,593
  • May 5, 2009 3:55am May 5, 2009 3:55am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Here's a bar with no tail...

(note: there is a very slight tail but that's because the broker works in "pipettes" - so is not technically a full tick)

Interesting.


Magnus
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-05-05_eurjpy_9.gif Size: 18 KB
  • #2,594
  • Edited 4:36am May 5, 2009 4:26am | Edited 4:36am
Just bringing this to the attention of anybody that's interested. Will price continue down after a third resistance rejection by the psych-zone?

Edit: Doesn't look like it.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd164.gif Size: 17 KB
  • #2,595
  • May 5, 2009 10:41am May 5, 2009 10:41am
I´d call this a "No Brainer".
R1, SP, AND s/r-level...
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
Don´t live for working, but work for living.
  • #2,596
  • May 5, 2009 12:03pm May 5, 2009 12:03pm
EV, that's your cup of tea, I guess
Attached Image (click to enlarge)
Click to Enlarge Name: Fibo_RT.png Size: 58 KB
One Chart is Worth Ten Thousand Words.
  • #2,597
  • May 5, 2009 1:36pm May 5, 2009 1:36pm
That's how the above trade should have been managed (it went all the way down to 1.3300, btw).
Attached Image (click to enlarge)
Click to Enlarge Name: EU_M15_zoomed_out.png Size: 61 KB
One Chart is Worth Ten Thousand Words.
  • #2,598
  • May 6, 2009 3:48am May 6, 2009 3:48am
I couldn't post this chart sooner, as I was called away. However, it's from the 15m eur/jpy. A straightforward trade stemming from a Harami candle forming on the 20/25 psych-zone, and entry at just above the high of said candle. Exit at just under the next 20/25 psych-zone.
Attached Image
  • #2,599
  • May 6, 2009 4:15am May 6, 2009 4:15am
Quoting eyevoltage
I couldn't post this chart sooner, as I was called away. However, it's from the 15m eur/jpy. A straightforward trade stemming from a Harami candle forming on the 20/25 psych-zone, and entry at just above the high of said candle. Exit at just under the next 20/25 psych-zone.
Nice trade, EV!

What kept you in the trade, btw, when that small Doji formed around xx80 psych level? I bet it was tempting to pull the trigger at that point. Why did you decided to stay put? (Don't tell me you knew I'd be asking about RR - just kidding)
One Chart is Worth Ten Thousand Words.
  • #2,600
  • May 6, 2009 4:33am May 6, 2009 4:33am
Quoting Forex007
Nice trade, EV!

What kept you in the trade, btw, when that small Doji formed around xx80 psych level? I bet it was tempting to pull the trigger at that point. Why did you decided to stay put? (Don't tell me you knew I'd be asking about RR - just kidding)
On my screen, I have 6 charts; 2 each of gbp/usd, eur/usd and eur/jpy. Three of them are set up as a pivot point display, and the other three are set up as a psych-line display. The point is that no screen is overloaded with all sorts of lines, so that if I'm in a trade using psych-lines, I can keep an eye on what's happening regarding the pivot point situation, and vice-versa.
With regard to your question......yes, the doji was situated sort of straddling the psych-zone, but the chart below showed it as forming just above the S2 line. If price had then reversed beneath the S2 line, I would indeed have exited. However, it stayed above it and carried on up.
I've found that this sort of screen set-up is pretty neat and it's easier to see what's going on over a wider spectrum, if you like.
I hope all that makes sense, mate.
6 traders viewing now