Psych Levels, Pivots, and Trendlines - Resurrected | Page 138 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #2,741
  • Jun 15, 2009 3:13am Jun 15, 2009 3:13am
Quoting Islander
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

4 candles later there was a safer buy off the Higher Low around the S1 level of 6315 with a small red spinning top......I've just closed that trade in the spike up to the 350 level.....the 30 ema has now flattened out. Once it turns up it confirms that the short term trend has reversed and I'll take full sized longs on an appropriate signal....
Trading Levels with WRBs
  • #2,742
  • Jun 15, 2009 3:59am Jun 15, 2009 3:59am
Quoting Islander
4 candles later there was a safer buy off the Higher Low around the S1 level of 6315 with a small red spinning top......I've just closed that trade in the spike up to the 350 level.....the 30 ema has now flattened out. Once it turns up it confirms that the short term trend has reversed and I'll take full sized longs on an appropriate signal....


and that happened in the 8:30 GMT candle as price pulled back to the 30ema at 6340 and promptly bounced 40+ pips.......
Trading Levels with WRBs
  • #2,743
  • Jun 15, 2009 4:08am Jun 15, 2009 4:08am
Nice trading, Islander, and really impressive logical analysis.
Here's my contribution from cable just now......
After a 38.2% fib retrace, I entered just above the xx50 psych-line. Price consolidated in the 75/80 psych-zone/FE61.8% confluence, and then moved up to the 1.6400 psych-line, which formed another confluence with the FE100% line, where I jumped ship.
I wish I could get up earlier in order to catch those beautiful moves that seem to be Islander's exclusive domain!!
Attached Image
  • #2,744
  • Jun 15, 2009 6:59am Jun 15, 2009 6:59am
Alright I will now start looking for longs in this puppy...we are starting to make smaller waves as we go down as well as are at major support at 1.3850

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  • #2,745
  • Jun 15, 2009 7:45am Jun 15, 2009 7:45am
Alright I am long in the eurusd

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  • #2,746
  • Jun 15, 2009 8:00am Jun 15, 2009 8:00am
Alright my long worked I will move to break even...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 25 KB
  • #2,747
  • Jun 15, 2009 8:08am Jun 15, 2009 8:08am
When I got back to my sceen I noticed that Fridays low at 6329 had been providing good support so I took a couple of hit and run buys for ~15 pips. Later, after a spike up to the 375 level, the pull back almost to the 30ema at 355 gave another great buy for the next 75 pip rally....
Trading Levels with WRBs
  • #2,748
  • Jun 15, 2009 8:27am Jun 15, 2009 8:27am
Alright got 1 pip in my eurusd long...but took some pips in the eurusd earlier...

total grow for the day so far is r.1.3
I will be extremly picky if I decide to come in the market again ...most likely Iam down for the day
  • #2,749
  • Jun 15, 2009 8:41am Jun 15, 2009 8:41am
I am now concentrating for longs on this puppy...I will be seeking price action...if price agrees at support I will take it...I am now mostly focusing on longs on gbpusd and shorts on eurusd

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  • #2,750
  • Jun 16, 2009 12:54am Jun 16, 2009 12:54am
GM all....another pre FO move. Higher Lows off S1 / 6225 area again with small pull backs to the 30 ema followed by a ~60 pips spike up to today's open level at 6318.

There was no follow through after the wide range spike, so I also traded the retrace with a smaller sell and happily pirated another 15 pips in a hit and run trade in what turned out to be a wider bearish engulfing candle.

Now I'm watching Swissy - back at its 1.0900 level for a heads up as cable's got me confuse with mixed signals.....
Trading Levels with WRBs
  • #2,751
  • Jun 16, 2009 12:58am Jun 16, 2009 12:58am
Alright I am now looking for longs in this puppy...

Attached Image (click to enlarge)
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  • #2,752
  • Jun 16, 2009 1:00am Jun 16, 2009 1:00am
ALright I am long

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  • #2,753
  • Jun 16, 2009 1:11am Jun 16, 2009 1:11am
Now I'm watching Swissy - back at its 1.0900 level for a heads up as cable's got me confused with mixed signals

Swissy turned back down at its 900 level and cable held around its MS1 / 6275 level signalling a long which was another spike back up to its opening level a 40 pip move.......again rejscted and now the Euros made a lower high, so I've taken a short too.....
Trading Levels with WRBs
  • #2,754
  • Jun 16, 2009 1:26am Jun 16, 2009 1:26am
Alright I have now reduced my risk in my long...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 36 KB
  • #2,755
  • Jun 16, 2009 1:34am Jun 16, 2009 1:34am
Alright I got winner...I am now starting to lock profits in the market ...

Attached Image (click to enlarge)
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  • #2,756
  • Jun 16, 2009 1:38am Jun 16, 2009 1:38am
Alright I am out of the market with my money...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 36 KB
  • #2,757
  • Jun 16, 2009 1:45am Jun 16, 2009 1:45am
Charts for the above mentioned action......the 1min clarifies the action.....like I just pirated more pips in a hit and run sell off the new high at the Daily Pivot - purple line
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: jne 16 cable 5m 0630.gif Size: 14 KB
Trading Levels with WRBs
  • #2,758
  • Jun 16, 2009 1:53am Jun 16, 2009 1:53am
Quoting Islander
Charts for the above mentioned action......the 1min clarifies the action.....like I just pirated more pips in a hit and run sell off the new high at the Daily Pivot - purple line
As that pull back stopped at the gold level - todays open at 6317, with resistance now support, it was rude not to take the Buy with my TP at the next level - the 6350...... and I think that's sufficient from me this morning,,,,time for a coffee before The Brits start........
Trading Levels with WRBs
  • #2,759
  • Jun 16, 2009 3:29am Jun 16, 2009 3:29am
Some great trading this morning by Sherm and Islander.

Here's a quick-ish one from the 5m EJ just now.....

A nice shooting-star/doji formed right on the xx00 psych-line, indicating a potential reversal. A wait for confirmation and then an entry under the low of the confirmation candle. Exit as price starts retreating from the xx50 psych-line. Nice and simple.
Attached Image
  • #2,760
  • Jun 16, 2009 4:56am Jun 16, 2009 4:56am
i just want to say thanks to all of you people in this thread, i have really learned alot from you guys
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