Psych Levels, Pivots, and Trendlines - Resurrected | Page 137 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #2,721
  • Jun 10, 2009 4:34am Jun 10, 2009 4:34am
Quoting Islander
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.....
Always a pleasure watching your work. Looks like I'll have to get in front of the computer a little earlier. I missed a nice move just before FO.

Could you post that hull ma that you are using?

Keep those trades (and charts) coming!!

Cheers.
  • #2,722
  • Jun 10, 2009 4:43am Jun 10, 2009 4:43am
Quoting Vantage
Always a pleasure watching your work. Looks like I'll have to get in front of the computer a little earlier. I missed a nice move just before FO.

Could you post that hull ma that you are using?

Keep those trades (and charts) coming!!

Cheers.
LOL - me too, I'm thinking I need to be there an hour before FO.....I'll post a chart and the indy in your thread.....
Trading Levels with WRBs
  • #2,723
  • Jun 10, 2009 5:58am Jun 10, 2009 5:58am
Quoting Islander
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.....
Any chance of a chart, mate?
  • #2,724
  • Jun 10, 2009 6:48am Jun 10, 2009 6:48am
Quoting eyevoltage
Any chance of a chart, mate?

NP.....all of these potential entries / exits are close to a level....its best to see an attempt at a pull back before taking a trade. I'm also using the Rads signal bars to remind me of the action on higher time frames - I'll trade smaller size if going against the higher trend....

The dashed aqua is the +/- 75 band on the 30 EMA - a good reminder of over bought / sold http://www.forexfactory.com/images/icons/icon12.gif
Attached Image (click to enlarge)
Click to Enlarge Name: jne 10 cable 5m 1240.gif Size: 23 KB
Trading Levels with WRBs
  • #2,725
  • Jun 10, 2009 7:00am Jun 10, 2009 7:00am
Quoting Islander
NP.....all of these potential entries / exits are close to a level....its best to see an attempt at a pull back before taking a trade. I'm also using the Rads signal bars to remind me of the action on higher time frames - I'll trade smaller size if going against the higher trend....

The dashed aqua is the +/- 75 band on the 30 EMA - a good reminder of over bought / sold http://www.forexfactory.com/images/icons/icon12.gif
Thanks, pal. Much appreciated.
  • #2,726
  • Jun 11, 2009 2:13am Jun 11, 2009 2:13am
A choppy start to the European day, with price trading in a ~50 pip range.......sell the 6425 area and buy the 6375 area and take 15 - 20 pips until the range breaks.....
Trading Levels with WRBs
  • #2,727
  • Jun 11, 2009 3:41am Jun 11, 2009 3:41am
Quoting Islander
A choppy start to the European day, with price trading in a ~50 pip range.......sell the 6425 area and buy the 6375 area and take 15 - 20 pips until the range breaks.....
....and it finally did.....the higher low in the 7:50 GMT candle was the heads up and the 2 wide range (~30 pips) green candles that broke the 400 and then 425 levels both had high volumes and I exited as price spiked up thru the 450 level.....now wait for the pull back into the fib zone for another signal......
Trading Levels with WRBs
  • #2,728
  • Edited 4:14am Jun 11, 2009 4:11am | Edited 4:14am
Two trades on 5m cable......both by watching the psych-lines.
The high which poked above the 1.6400 psych-line was the point to get past, and entry was just above that high, with the target being the 20/25 psych-zone. However, the strong candle signified it would go higher, so I left it and got out at the xx50 psych-line. A small retracement, then another push up and another entry above the high of the candle I exited on, with the exit again just above a psych-zone. Two very nice trades that one wishes could come along on schedule every day!
Dream on................

Edit: I've only just noticed that Islander was doing something similar. Great minds think alike, eh, mate?
Attached Image
  • #2,729
  • Jun 11, 2009 4:58am Jun 11, 2009 4:58am
Quoting eyevoltage
Two very nice trades
Indeed, EV!
One Chart is Worth Ten Thousand Words.
  • #2,730
  • Jun 11, 2009 6:34am Jun 11, 2009 6:34am
Quoting eyevoltage
Two trades on 5m cable......both by watching the psych-lines.
The high which poked above the 1.6400 psych-line was the point to get past, and entry was just above that high, with the target being the 20/25 psych-zone. However, the strong candle signified it would go higher, so I left it and got out at the xx50 psych-line. A small retracement, then another push up and another entry above the high of the candle I exited on, with the exit again just above a psych-zone. Two very nice trades that one wishes could come along on schedule every day!
Dream...

LOL EV.....yes, I was taking similar trades - although I didnt get out at 487 - 3 pips off the high - smokey stuff EV......

FYI I posted my 1 min chart in Vs thread......
Trading Levels with WRBs
  • #2,731
  • Jun 11, 2009 7:10am Jun 11, 2009 7:10am
Quoting Islander
LOL EV.....yes, I was taking similar trades - although I didnt get out at 487 - 3 pips off the high - smokey stuff EV......

FYI I posted my 1 min chart in Vs thread......
I half-expected it to keep climbing, mate, but decided not to chance it and and took the profit.....
  • #2,732
  • Jun 11, 2009 7:20am Jun 11, 2009 7:20am
Just won my short

Attached Image (click to enlarge)
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  • #2,733
  • Jun 11, 2009 7:30am Jun 11, 2009 7:30am
This one was a result of a nice retracement to the 34ema (61.8% fib retracement), where an evening star candle formed, and entry was just below the low of said candle. Price dropped below the "mini" mid-point, and I can't really say why I got out when I did, to be honest. I should have stayed in, so let's call it one of those "mad moments"!
Attached Image
  • #2,734
  • Jun 11, 2009 1:54pm Jun 11, 2009 1:54pm
Quoting eyevoltage
This one was a result of a nice retracement to the 34ema (61.8% fib retracement), where an evening star candle formed, and entry was just below the low of said candle. Price dropped below the "mini" mid-point, and I can't really say why I got out when I did, to be honest. I should have stayed in, so let's call it one of those "mad moments"!
Good to see you back, EV! I am always looking forward to your surgically precise charts.
One Chart is Worth Ten Thousand Words.
  • #2,735
  • Edited 6:35am Jun 12, 2009 6:33am | Edited 6:35am
Just thought I'd drop this one in before finishing for the day. 5m cable and a really nice bearish engulfing pattern (actually engulfing the two previous candles) right on the M2/34ema confluence. Very very strong bearish candles dropped down to the S1 line, where I jumped ship. Lovely.
By the way, thanks for the kind comment, forex007.
Have a nice weekend, y'all.

Edit: On the chart, where it says Pattern.....it should, of course, say Bearish Engulfing Pattern. Don't quite know what happened there! Gremlins, probably.
Bye for now.
Attached Image
  • #2,736
  • Jun 15, 2009 1:40am Jun 15, 2009 1:40am
GM all....a clear sell signal 45 minutes before FO as cable made a lower high, holding at the 5m 30ema at 6381. It then fell 65 pips down to todays at S1 317, where a green hammer cleared my to buy for a retrace.....here I took a quick 10 pips in a hit and run contra trend trade.

Now I'll look to resell around the 350 level which is nicely in the fibo retrace zone.....
Trading Levels with WRBs
  • #2,737
  • Jun 15, 2009 2:02am Jun 15, 2009 2:02am
Islander - as usual, an excellent analysis of PA and great trading. Afraid I got to my computer too late to catch that H/L and the counter trend trade was a bit robust for me. Maybe a short off the 61.8 fib..............?
  • #2,738
  • Jun 15, 2009 2:10am Jun 15, 2009 2:10am
Quoting orientos
Islander - as usual, an excellent analysis of PA and great trading. Afraid I got to my computer too late to catch that H/L and the counter trend trade was a bit robust for me. Maybe a short off the 61.8 fib..............?

H/L? mmmm a Lower High sleepy-head was the signal....

and agreeed, sell in the fibo Decision Zone in the 350 area, but be careful that we dont get a higher low around the 330 area - Fridays low....
Trading Levels with WRBs
  • #2,739
  • Jun 15, 2009 2:20am Jun 15, 2009 2:20am
Just a typo error there. Sleepy I am not ,as it's late afternoon here in Australia. Gradded a quick +10 on the short.
  • #2,740
  • Jun 15, 2009 2:38am Jun 15, 2009 2:38am
Quoting orientos
Just a typo error there. Sleepy I am not ,as it's late afternoon here in Australia. Gradded a quick +10 on the short.
LOL......I'm only a few thousand miles adrift..........5:37pm Sydney time as I type.....I'm out of my last short too and now have an initial small long after the failure to push on down and a small green spinning top
Trading Levels with WRBs
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