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Psych Levels, Pivots, and Trendlines - Resurrected

  • #2,701
  • Jun 4, 2009 2:08am Jun 4, 2009 2:08am
Quoting orientos
GM Islander. Took the same FO trade myself (but using Vantage's strategy for an entry on the 1 min chart). That was a nice short you took. I have trouble seeing MS1 etc on my charts. What indic. are you using please?

The SDX-T2 its very versatile.....I have the open set to 5pm New York time as per the Dove Alliance's excellent work on the use of daily pivots...
Attached File(s)
File Type: ex4 SDX-TzPivots.ex4   20 KB | 261 downloads
Trading Levels with WRBs
  • #2,702
  • Jun 4, 2009 2:20am Jun 4, 2009 2:20am
Thanks Islander. I'ii do a search on Dove Alliance and read up on their pivot work.
  • #2,703
  • Jun 4, 2009 2:41am Jun 4, 2009 2:41am
Quoting eyevoltage
I was up waaaaay too early this morning, and I also spotted that higher low just before the FO opening. Guess what? My first thought was "I just bet Islander is pouncing on that one!"
Nice one, mate.
LOL - well just jump on board with me - nice tight stop and let it run.....that's always the problem, staying on board,, 'cause Frankies Hour moves usually reverse....NOT this one!
Trading Levels with WRBs
  • #2,704
  • Jun 4, 2009 2:44am Jun 4, 2009 2:44am
Mmmmm, now where did I see something about a retrace to the 6400 area......

After such a big fall yesterday in the ultra wide range day -~420 pips, we're due for a larger pull back - the confluence of the daily pivot and fib 38% level around the 6400 level would be nice......Time Will Tell.....

Trading Levels with WRBs
  • #2,705
  • Jun 4, 2009 3:04am Jun 4, 2009 3:04am
As I mentioned earlier, I often exit moves too early and to help with this I'm looking at ways of keeping part of my trades open to catch the bigger moves whilst booking profits on part of my position -usually around "the levels"

These are 2 ideas that I'm working with, here displayed on a 5m line graph - gold.

The red / blue is a modified hull MA that I've posted before and the maroon / green is the trend magic indy.

If anyone's interested I'll post them......

PS....I apologise that this is rather "off topic"......but I feel that it might help pirate more pips.....http://www.forexfactory.com/images/icons/icon12.gif
Attached Image (click to enlarge)
Click to Enlarge Name: jne 4 cable 5m trend indys.gif Size: 10 KB
Trading Levels with WRBs
  • #2,706
  • Jun 4, 2009 3:18am Jun 4, 2009 3:18am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Islander
As I mentioned earlier, I often exit moves too early and to help with this I'm looking at ways of keeping part of my trades open to catch the bigger moves whilst booking profits on part of my position -usually around "the levels"

These are 2 ideas that I'm working with, here displayed on a 5m line graph - gold.

The red / blue is a modified hull MA that I've posted before and the maroon / green is the trend magic indy.

If anyone's interested I'll post them......

PS....I apologise that this is rather "off topic"......but I feel that it...

Yes, I'd be most interested Islander.

Actually, I generally find I stay in too long.

Thanks.


Magnus
  • #2,707
  • Jun 4, 2009 3:24am Jun 4, 2009 3:24am
Bro.i always enjoy ur quotes,as a newbien i know litle about how to get ur kind of indi,i will apreciate if there is a way u can assist me to get the indi.i will apreciate ur positive responds
  • #2,708
  • Jun 4, 2009 3:25am Jun 4, 2009 3:25am
Quoting Yuppie
Yes, I'd be most interested Islander.

Actually, I generally find I stay in too long.

Thanks.


Magnus
LOL....too short, too long.....our "grail" should be somewhere in the middle

Indys attached.....please let me know how you get on with them....
Attached File(s)
File Type: ex4 HMA Modified.ex4   7 KB | 303 downloads
File Type: ex4 Trend Magic.ex4   3 KB | 372 downloads
Trading Levels with WRBs
  • #2,709
  • Jun 4, 2009 3:30am Jun 4, 2009 3:30am
Most of us have the problem of exiting too early, and I bet I am better at this than you! It's about the only area I am better than you, trading wise that is. It's so frustrating......... and I think you should continue with this research. I probably have both indicators somewhere, but why don't you post them anyway.

We all appreciate your FO comments that you post most days, and I for one have improved my trading and now make positive pips from pure price action before London has opened most days now.
  • #2,710
  • Jun 4, 2009 3:54am Jun 4, 2009 3:54am
Quoting orientos
Most of us have the problem of exiting too early, and I bet I am better at this than you! It's about the only area I am better than you, trading wise that is. It's so frustrating......... and I think you should continue with this research. I probably have both indicators somewhere, but why don't you post them anyway.

We all appreciate your FO comments that you post most days, and I for one have improved my trading and now make positive pips from pure price action before London has opened most days now.
Thanks....I'm doing OK with my entries.....its now about getting the most out of the move during the time that I have available.

As we move into summer I get less time to trade and thus I'm concentrating on FO / LO and banking pips and this often means missing out on the larger moves.

The trend magic indy seems to have potential (notice how it can be used on different TFs) and IF this is correct then a trailng stop based around it might just be the answer....TWT
Trading Levels with WRBs
  • #2,711
  • Jun 4, 2009 3:55am Jun 4, 2009 3:55am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Islander
LOL....too short, too long.....our "grail" should be somewhere in the middle

Indys attached.....please let me know how you get on with them....

Cheers Islander...

Will have a study of them... if I find anything groundbreaking I'll share likewise.


Magnus
  • #2,712
  • Edited 9:33am Jun 4, 2009 9:22am | Edited 9:33am
entry:1.4170
exit:1.4120
+50pips

p.s. I didn't notice that there were great news that could drive the price up and down so hard, or I would not take any trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR0.gif Size: 3 KB
Click to Enlarge Name: EURUSD0604.gif Size: 22 KB
Click to Enlarge Name: EURUSD20090604.GIF Size: 21 KB
  • #2,713
  • Jun 5, 2009 1:14am Jun 5, 2009 1:14am
GM - I was too late to take the short that set up just over an hour before FO, but the 2 dojis 3 & 4 candles ( 5 min ) before FO alerted me to a possible reversal and so I bought the spike that bounced off the 6050 level.....it closed as a hammer on some of my charts and a graveyard doji on another!

I took partial profits as price stalled at yesterdays low of 1.6083 and have the rest open with a trailing stop based on the indys that I posted yesterday, but also looking at "the levels".....stop now 6080, just under yesterdays low....
Trading Levels with WRBs
  • #2,714
  • Jun 5, 2009 2:02am Jun 5, 2009 2:02am
Quoting Islander
GM - I was too late to take the short that set up just over an hour before FO, but the 2 dojis 3 & 4 candles ( 5 min ) before FO alerted me to a possible reversal and so I bought the spike that bounced off the 6050 level.....it closed as a hammer on some of my charts and a graveyard doji on another!

I took partial profits as price stalled at yesterdays low of 1.6083 and have the rest open with a trailing stop based on the indys that I posted yesterday, but also looking at "the levels".....stop now 6080, just under yesterdays low....
Price stopped at the 6100 level - also the 5m 30 ema - not surprising given that all of my charts up to the 4 hour have turned back down and so this was a contra trend trade.

After a pull back to take out my stop (!), the attempted second rally failed at the then lower 30 ema, so a lower high sell just under the 6100 level and I exited that in the spike down to the confluence of the R1 and 6025 levels....

Now for The Brits.....
Trading Levels with WRBs
  • #2,715
  • Jun 5, 2009 2:32am Jun 5, 2009 2:32am
Quoting Islander
Price stopped at the 6100 level - also the 5m 30 ema - not surprising given that all of my charts up to the 4 hour have turned back down and so this was a contra trend trade.

After a pull back to take out my stop (!), the attempted second rally failed at the then lower 30 ema, so a lower high sell just under the 6100 level and I exited that in the spike down to the confluence of the R1 and 6025 levels....

Now for The Brits.....

The Brits continued the bounce off the new low for all of 10 minutes, before a quick spike up to a level - this time another lower high at yesyerdays low - and close to the 30 ema....too good an opportunity to miss, so sell again.......
Trading Levels with WRBs
  • #2,716
  • Jun 5, 2009 3:24am Jun 5, 2009 3:24am
Here's my chart.....here I'm trying a hull 13 ma
Attached Image (click to enlarge)
Click to Enlarge Name: jne 5 cable 5m 0820.gif Size: 19 KB
Trading Levels with WRBs
  • #2,717
  • Edited 1:17am Jun 9, 2009 12:55am | Edited 1:17am
I have todays Daily Pivot at 1.5895. The 3:25 am (GMT) low was at 894 and the 4:35 low was 895 - so a Higher Low off the DP - signals dont get any better than that!

So far the rally has been 72 pips and it now looks as if price is pulling back into FO. I'm keeping some of my late entry long open and will add if we get a retrace to the 50% / 30 ema area around 6022

Edit: retraced to 6022, additional long taken, stop now BE +1
Trading Levels with WRBs
  • #2,718
  • Jun 9, 2009 2:00am Jun 9, 2009 2:00am
The FO opening candle was a 40 pip fake-out that hit the 50% retrace / 30 ema and setting up another buy which so far has put on 120 pips http://www.forexfactory.com/images/icons/icon10.gif with a wide range high volume candle pushing up above yesterdays high at the 6100 level and on almost to the 6150 level

Now to see what the Brits do.....a pull back for another leg up would complete a nice 5 wave EW move....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #2,719
  • Jun 9, 2009 3:35am Jun 9, 2009 3:35am
Quoting Islander
I have todays Daily Pivot at 1.5895. The 3:25 am (GMT) low was at 894 and the 4:35 low was 895 - so a Higher Low off the DP - signals dont get any better than that!

So far the rally has been 72 pips and it now looks as if price is pulling back into FO. I'm keeping some of my late entry long open and will add if we get a retrace to the 50% / 30 ema area around 6022

Edit: retraced to 6022, additional long taken, stop now BE +1
I got some of the move after the retrace back to 6022 area, well 6044 on my charts. Great call, cheers.
  • #2,720
  • Jun 10, 2009 3:26am Jun 10, 2009 3:26am
At the risk of repeating myself, more trades this morning in the run up to the Frankfurt Open, with a classic higher low off the 6300 level an hour before FO and another entry half an hour before FO.....over 100 pips available before a ~61% retrace to ~the 350 level. Then a doji higher low that gave another 70+ pips.....
Trading Levels with WRBs
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