Psych Levels, Pivots, and Trendlines - Resurrected | Page 140 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #2,781
  • Jun 17, 2009 2:41am Jun 17, 2009 2:41am
Quoting eyevoltage
Where you went long on that trade.....the pivot M3 line was at 1.3884 and price spiked above it, but then dropped, as you well know.
I wish I'd been around earlier so that I could have given you a nudge re that resistance line.
Sorry, mate.

Naww dont worry about it mate ...thanks either way...all I know is that at the end of the week I will have money in the bank...I cant ovoid every loser aslong as I trade the plan I had made . Thanks
  • #2,782
  • Jun 17, 2009 5:51am Jun 17, 2009 5:51am
Quoting Shermenator
Alright I am long...I will watch price action in the market...

Attachment
What was the PA setups for Long, Sherm? Also, did you consider strongly falling cable at that time?

P.S. Sorry, just noticed that EV asked the same (well, a similar one - but from the same perspective) question; and saw your answer too. "Horses for courses"

P.S.S. Larry Williams said that he became a highly successful trader with a simple belief of "Every time I take a trade, I am fully convinced it will be a big looser". Compare that "I am sure I will have the money in the bank"...
One Chart is Worth Ten Thousand Words.
  • #2,783
  • Jun 17, 2009 11:50pm Jun 17, 2009 11:50pm
GM all - so far, half way through Frankies Hour, its been a slow start.

However, there was a nice little Higher Low about an hour an a half ago around the 6350 level. The move was ~70 pips as it spiked up to the earlier Lower High - see 15 m chart - ~ 6415.

I took the buy and later a cheaky sell on smaller size for a hit and run 15 pips.

Now I'm flat waiting to see if the falling trend line on the 15m and 60m charts are respected or not.....a close above the 4625 / 50 areas would be the first sign that its been broken....
Trading Levels with WRBs
  • #2,784
  • Jun 18, 2009 12:10am Jun 18, 2009 12:10am
GM - 2 small trades on 5M cable. Just before FO price pushed through my DP and the 30 EMA and I grabbed a quick +10. Then another +10 on the pullback to the 30 EMA 40 mins. later.
  • #2,785
  • Jun 18, 2009 12:56am Jun 18, 2009 12:56am
I am now seeking longs in this puppy....

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 29 KB
  • #2,786
  • Jun 19, 2009 12:35am Jun 19, 2009 12:35am
Cable's traded in a ~50 pip range for the past 4 hours......buy the 6325 area and sell the 6375 area and take 20 / 30 pips ......

No news today, but it Quadruple Witching in the US so anything may happen later.....

Edit: now it might push up to the 6400 area or even yesterdays highs ~6450
Trading Levels with WRBs
  • #2,787
  • Jun 19, 2009 12:47am Jun 19, 2009 12:47am
Quoting Islander
Cable's traded in a ~50 pip range for the past 4 hours......buy the 6325 area and sell the 6375 area and take 20 / 30 pips ......

No news today, but it Quadruple Witching in the US so anything may happen later.....

Edit: now it might push up to the 6400 area or even yesterdays highs ~6450
Quadruple Witching?
  • #2,788
  • Jun 19, 2009 12:57am Jun 19, 2009 12:57am
Quoting eyevoltage
Quadruple Witching?
Its when all the different derivatives expire on the same day - options, futures etc. Thus can cause considerable volatility as the big players try to push the price when its close to a strike that they want to protect.....
Trading Levels with WRBs
  • #2,789
  • Jun 19, 2009 1:00am Jun 19, 2009 1:00am
Quoting Islander
Its when all the different derivatives expire on the same day - options, futures etc. Thus can cause considerable volatility as the big players try to push the price when its close to a strike that they want to protect.....
I have to admit...I hadn't heard that expression before. Now I know! Thanks, Islander.
  • #2,790
  • Jun 19, 2009 1:33am Jun 19, 2009 1:33am
Quoting eyevoltage
I have to admit...I hadn't heard that expression before. Now I know! Thanks, Islander.
Triple Witching is more common as its usually the 3rd Friday each month, but at the end of each quarter the quarterly options also expire....
Trading Levels with WRBs
  • #2,791
  • Jun 19, 2009 2:25am Jun 19, 2009 2:25am
Nice little break-out trade just completed. The white bar indicates the resistance area just above the psych-zone previously tested. Entry and exit clearly marked, and again, nice and simple.
Attached Image
  • #2,792
  • Jun 19, 2009 3:25am Jun 19, 2009 3:25am
hello

I want to ask if someone has weekly and monthly pivot indicator like SDX-TzPivots (which is only for intraday). There are many PP indicators but this one is good and I would like to have similar for weekly and monthly...Maybe someone can modify this one...?

Thank you
The Market pays you to be disciplined
  • #2,793
  • Jun 19, 2009 3:42am Jun 19, 2009 3:42am
Quoting mima
hello

I want to ask if someone has weekly and monthly pivot indicator like SDX-TzPivots (which is only for intraday). There are many PP indicators but this one is good and I would like to have similar for weekly and monthly...Maybe someone can modify this one...?

Thank you
Are these the ones you're after?
Attached File(s)
File Type: ex4 SDX-TzPivots.ex4   20 KB | 241 downloads
File Type: ex4 SDX-TzPivots_v4.1.ex4   28 KB | 222 downloads
File Type: mq4 SDX-TzPivots_v4.1.mq4   41 KB | 268 downloads
  • #2,794
  • Jun 19, 2009 8:58pm Jun 19, 2009 8:58pm
Quoting eyevoltage
Are these the ones you're after?
Thank you for posting indicators. I have them already and use them on M5 to H1. I would like to have this indicator with weekly and monthly pivot points levels and unfortunately this version of indicators doesnt have those levels yet...So I was wondering if someone has this indicator with weekly and monthly PP levels...or someone can modify this one by adding weekly and monthly PP levels.
The Market pays you to be disciplined
  • #2,795
  • Jun 20, 2009 1:24am Jun 20, 2009 1:24am
Here is something funny

Inserted Video
  • #2,796
  • Jun 24, 2009 12:37am Jun 24, 2009 12:37am
GM all - sorry I'm now too busy to post much, but this is a good example of a low volume Fake Out - aka a Reverse Up-thrust.....

By drilling down to the 1 min chart we can also see how it was just a spike down to the 6450 area - a great way to run some stops and set up the usual ~75 pip move in Frankies Hour....http://www.forexfactory.com/images/icons/icon12.gif

Now wait to see what The Brits want to do......
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jne 24 cable 5m 0730.gif Size: 13 KB
Click to Enlarge Name: jne 24 cable 1m 0730.gif Size: 13 KB
Trading Levels with WRBs
  • #2,797
  • Jun 24, 2009 2:47am Jun 24, 2009 2:47am
Quoting Islander
GM all - sorry I'm now too busy to post much, but this is a good example of a low volume Fake Out - aka a Reverse Up-thrust.....

By drilling down to the 1 min chart we can also see how it was just a spike down to the 6450 area - a great way to run some stops and set up the usual ~75 pip move in Frankies Hour....http://www.forexfactory.com/images/icons/icon12.gif

Now wait to see what The Brits want to do......
Hi Islander,

Thanks for the good example and chart!

Do I understand it correctly that: (a) there is typically a fakey prior to FO - which, therefore, determines the correct direction of the move that starts around FO, and (b) that moves continues approx. till LO?
One Chart is Worth Ten Thousand Words.
  • #2,798
  • Jun 24, 2009 6:06am Jun 24, 2009 6:06am
Quoting Forex007
Hi Islander,

Thanks for the good example and chart!

Do I understand it correctly that: (a) there is typically a fakey prior to FO - which, therefore, determines the correct direction of the move that starts around FO, and (b) that moves continues approx. till LO?
IMO when there is no overall direction - like the last 2 weeks trading in a ~400 pip range - fake-outs seem to happen more often in or before FO rather than after LO...
Trading Levels with WRBs
  • #2,799
  • Jun 24, 2009 6:13am Jun 24, 2009 6:13am
Quoting Islander
GM all - sorry I'm now too busy to post much, but this is a good example of a low volume Fake Out - aka a Reverse Up-thrust.....

By drilling down to the 1 min chart we can also see how it was just a spike down to the 6450 area - a great way to run some stops and set up the usual ~75 pip move in Frankies Hour....http://www.forexfactory.com/images/icons/icon12.gif

Now wait to see what The Brits want to do......
The trade from 1.6450 way too good for me. We did like the hl shown in your chart closing just above 1.65.

Cheers.
  • #2,800
  • Jun 24, 2009 11:30pm Jun 24, 2009 11:30pm
GM - and another pre FO trade.....the Lower High 35 mins before FO was at todays DP level of 6458. A 40 pip drop, then a 28 pip bounce back up to the 30 ema for a 30 pip drop.....I was aboard for all 3 legs as I need to pirate my pips early and get out for another day at sea.....http://www.forexfactory.com/images/icons/icon6.gif
Trading Levels with WRBs
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