Psych Levels, Pivots, and Trendlines - Resurrected | Page 152 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,021
  • Jul 10, 2009 1:57am Jul 10, 2009 1:57am
Quoting sailor68
GM all, first trade of the day, short e/u on the break of 1.4000 but not out yet..
End....out at 39500
Trade with the momentum
  • #3,022
  • Jul 10, 2009 2:16am Jul 10, 2009 2:16am
GM- nice trade Sailor. I don't watch E/U and have enough trouble trading just G/U.

Haven't found an entry I like yet and I don't like the price action anyway.
  • #3,023
  • Jul 10, 2009 2:41am Jul 10, 2009 2:41am
Just finished a rare (for me) trade on eur/usd. No need to analyse it. Pretty straightforward entry and exit.....
Attached Image
  • #3,024
  • Jul 10, 2009 3:06am Jul 10, 2009 3:06am
Quoting orientos
GM- nice trade Sailor. I don't watch E/U and have enough trouble trading just G/U.

Haven't found an entry I like yet and I don't like the price action anyway.
Me too usually i trade on g/u (but now im waiting for news), and this morning i was watching this pair and found this entry.....
Trade with the momentum
  • #3,025
  • Jul 10, 2009 3:15am Jul 10, 2009 3:15am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyevoltage
Just finished a rare (for me) trade on eur/usd. No need to analyse it. Pretty straightforward entry and exit.....

Damn it EV, stop making it look 'pretty straightforward'...

Good job.


Magnus
  • #3,026
  • Jul 10, 2009 3:32am Jul 10, 2009 3:32am
21 pips on the CT off a "doji."
Attached Image (click to enlarge)
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  • #3,027
  • Jul 10, 2009 4:00am Jul 10, 2009 4:00am
Hi,

This was one of the first trades I took using this method. I only took a small position as I'm still trying to build confidence in it. Works well and I'll be posting here a bit more.
Attached Image (click to enlarge)
Click to Enlarge Name: pivot 1.gif Size: 30 KB
  • #3,028
  • Jul 10, 2009 4:04am Jul 10, 2009 4:04am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting mdowd
21 pips on the CT off a "doji."

Low-risk... I like it...
  • #3,029
  • Jul 10, 2009 4:09am Jul 10, 2009 4:09am
Quoting mdowd
21 pips on the CT off a "doji."
Spot on, mate. I like it.
  • #3,030
  • Jul 10, 2009 4:13am Jul 10, 2009 4:13am
Quoting Siam
Hi,

This was one of the first trades I took using this method. I only took a small position as I'm still trying to build confidence in it. Works well and I'll be posting here a bit more.

You don't say give any entry or exit points, but I'm guessing that you entered below the low of the spinning top. You've obviously recognised the potential, and that's the important thing.
Well done, mate.
  • #3,031
  • Jul 10, 2009 4:15am Jul 10, 2009 4:15am
Quoting Yuppie
Damn it EV, stop making it look 'pretty straightforward'...

Good job.


Magnus
Can't help it, mate. I love "easy". Less is more and all that jazz.
  • #3,032
  • Jul 10, 2009 5:31am Jul 10, 2009 5:31am
Last trade for today g/u Short at 62500 out at 62110 lets go for week end...(here in asia its 5.30 pm already).....
Attached Image
Trade with the momentum
  • #3,033
  • Jul 10, 2009 9:04am Jul 10, 2009 9:04am
12 pips on the doji.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 16 KB
  • #3,034
  • Jul 10, 2009 10:25am Jul 10, 2009 10:25am
Had a great week using the fundamentals in this thread, traded weekly pivots this week for a change while using smaller lot sizes. I must say it was lower stress and left with with a clearer head. That strategy was worth about 400 pips.

take care all, have a great weekend.

McD
  • #3,035
  • Jul 13, 2009 1:34am Jul 13, 2009 1:34am
GM all - there was a clear sell 15 mins before FO as price held at the 6125 level - also the falling 30 ema. The fall was ~ 40 pips.

After FO, the second candle that held ~the MS2 level / 085 level was a green, high volume hammer which showed some buying / profit taking in that area, so I took a small buy with my TP at the 30 ema - now hit so I'm flat and waiting for the next signal.
Trading Levels with WRBs
  • #3,036
  • Jul 13, 2009 1:58am Jul 13, 2009 1:58am
The 30ema held with a low vol doji, so another sell which spiked 10 pips under the prior low with another long wicked high volume candle - a spinning top (?) - so another small buy - its against the 30 ema

Note the action in € which put in a Higher Low off its 3900 level - this should support the buy in cable.......let's see what The Brits do....
Trading Levels with WRBs
  • #3,037
  • Jul 13, 2009 2:22am Jul 13, 2009 2:22am
The short term and longer term trends are still down, with price bouncing between the falling 5m 30ema area and now the 6065 / 75 area with plenty of opportunities for hit and run trades both ways.

Whilst € remains above its 5m 30ema - and its 3925 level - I'll continue to take small buys in the 065 / 075 area.

The last 2 closed 15 min candles both have long downside wicks with reasonable volumes confirming buying / profit taking in the 065 / 085 area....a 15 min close above the 6100 area - now the 5m 30 ema would allow me to increase the size of my longs.....converesely a rejection of that area confirms a continuation of the downtrend and will keep me short....
Trading Levels with WRBs
  • #3,038
  • Jul 13, 2009 2:54am Jul 13, 2009 2:54am
GM Islander. No postings from me on Friday, as I couldn't find a trade for the 2 hours I traded.

Today, went short about 20 mins. before FO for the same reasons as you. Then another short at the doji (?) that occured right at the 30 ema and out for +21 there. Not brave enough to take any longs against that strong trend.

A short anywhere about 30 mins. ago, with a target at the #50 level (and my S2 level also) was a no brainer, but I didn't have the brains to take it.
  • #3,039
  • Jul 13, 2009 3:15am Jul 13, 2009 3:15am
Quoting orientos
GM Islander. No postings from me on Friday, as I couldn't find a trade for the 2 hours I traded.

Today, went short about 20 mins. before FO for the same reasons as you. Then another short at the doji (?) that occured right at the 30 ema and out for +21 there. Not brave enough to take any longs against that strong trend.

A short anywhere about 30 mins. ago, with a target at the #50 level (and my S2 level also) was a no brainer, but I didn't have the brains to take it.
Hi O - my trading was also limited last week and no time to post.....BTW, nice trades - lol, taking longs against the trends IS difficult - that's why I reduce my size and use a tight stop - but those long downside wicks and €s rally made buys at the lows a reasonable risk....also, I have a falling channel on my hourly with support ~ 6050 and resistance ~ 6180......
Trading Levels with WRBs
  • #3,040
  • Jul 13, 2009 3:37am Jul 13, 2009 3:37am
Gm all,

Short on gu at 61500 and out at 60550....
Long on eu at 3929 out at 3950

i confirm that today we have a lot of opportunities also on ej if someone trade ej at this moment
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Trade with the momentum
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