Psych Levels, Pivots, and Trendlines - Resurrected | Page 153 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,041
  • Jul 13, 2009 7:56am Jul 13, 2009 7:56am
With € 2 hours from its high and trying to break its 30ema the high vol spinning top in cable 2 candles ago that failed to reach the 6150 level was asking to be sold......so I did and have already taken partials in the spike down under the 6125 level....stop to B/E +2 on the remainder....
Trading Levels with WRBs
  • #3,042
  • Jul 13, 2009 8:06am Jul 13, 2009 8:06am
This is the down channel that I mentioned earlier
Attached Image (click to enlarge)
Click to Enlarge Name: jly 13 cable 60m 1300.gif Size: 21 KB
Trading Levels with WRBs
  • #3,043
  • Jul 13, 2009 8:26am Jul 13, 2009 8:26am
Quoting Islander
With € 2 hours from its high and trying to break its 30ema the high vol spinning top in cable 2 candles ago that failed to reach the 6150 level was asking to be sold......so I did and have already taken partials in the spike down under the 6125 level....stop to B/E +2 on the remainder....


Closed remainder in attempt on 30 ema / 6100 level.....BFN
Trading Levels with WRBs
  • #3,044
  • Jul 14, 2009 1:22am Jul 14, 2009 1:22am
GM - I went long on cable just after FO when it looked like the 50 psych level was holding and my target was always the 80 level. And that's where I bailed out.
  • #3,045
  • Jul 14, 2009 1:41am Jul 14, 2009 1:41am
GM all...the 6225 level held for the second time 10 mins before FO giving a buy signal which ran up to just above the earlier high ~todays R1 and the 6300 level.

I'm short off this level looking to take my first profits around the 6250 level / 30 ema....
Trading Levels with WRBs
  • #3,046
  • Jul 14, 2009 1:45am Jul 14, 2009 1:45am
Islander - I just knew you would be short! Nearly took it myself, with those 2 reversal type candles and one of them on very high volume. Nice call. I need to be a little braver.
  • #3,047
  • Jul 14, 2009 1:52am Jul 14, 2009 1:52am
First profits taken, I'll add to my remaining short on any bounce towards the 275 level.

€ spiked above its 4000 level to make a new high for this week, but has dropped back with a higher volume bearish engulfing candle on its 15 min chart.

Swissy put in a higher low on its 15m followed by an almost engulfing high vol green candle that also gives a nice inverted shampoo.......this supports the bears camp for cable and €.......lets hope that The Brits agree...http://www.forexfactory.com/images/icons/icon11.gif
Trading Levels with WRBs
  • #3,048
  • Jul 14, 2009 1:54am Jul 14, 2009 1:54am
Quoting orientos
Islander - I just knew you would be short! Nearly took it myself, with those 2 reversal type candles and one of them on very high volume. Nice call. I need to be a little braver.
You got a nice buy and the sell was all about taking a small risk around earlier highs / levels.....you'll get there....http://www.forexfactory.com/images/icons/icon14.gif
Trading Levels with WRBs
  • #3,049
  • Jul 14, 2009 2:01am Jul 14, 2009 2:01am
Quoting Islander
First profits taken, I'll add to my remaining short on any bounce towards the 275 level.

€ spiked above its 4000 level to make a new high for this week, but has dropped back with a higher volume bearish engulfing candle on its 15 min chart.

Swissy put in a higher low on its 15m followed by an almost engulfing high vol green candle that also gives a nice inverted shampoo.......this supports the bears camp for cable and €.......lets hope that The Brits agree...http://www.forexfactory.com/images/icons/icon11.gif

I added ~ 6265 and did a hit and run TP in the spike down to yesterdays high level at 6238......http://www.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #3,050
  • Jul 14, 2009 2:14am Jul 14, 2009 2:14am
Quoting Islander
I added ~ 6265 and did a hit and run TP in the spike down to yesterdays high level at 6238......http://www.forexfactory.com/images/icons/icon7.gif
Now closed the remainder at the 6250 level as I have to go out soon and would rather have the pips in my bank ....also I've made good profits.....BFN
Trading Levels with WRBs
  • #3,051
  • Jul 14, 2009 6:12am Jul 14, 2009 6:12am
Mostly scraps and leavings for the Western Hemisphere. 7 pips after a bearish harami, a doji, and a failed break up. 8 pips more on a shooting star.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 17 KB
  • #3,052
  • Jul 15, 2009 12:45am Jul 15, 2009 12:45am
After a tight ranged early Asian session the pre FO hour is giving some hit and run trades. With the 6335 area resistance holding the first was a short - I got in just under the 30ema and exited in the spike down to the 6300 level.

I'm now long off that level and took partials at the 30ema, holding the remainder to see IF the 6335 resistance holds or breaks.....
Trading Levels with WRBs
  • #3,053
  • Jul 15, 2009 12:59am Jul 15, 2009 12:59am
Quoting Islander
After a tight ranged early Asian session the pre FO hour is giving some hit and run trades. With the 6335 area resistance holding the first was a short - I got in just under the 30ema and exited in the spike down to the 6300 level.

I'm now long off that level and took partials at the 30ema, holding the remainder to see IF the 6335 resistance holds or breaks.....
It did and I've just exited the remainder in the spike up to the 6350 level......IF € cant break its 4000 level I'll be selling
Trading Levels with WRBs
  • #3,054
  • Jul 15, 2009 1:06am Jul 15, 2009 1:06am
Nice trades , quick off the mark. Let's see if my Daily R1 at 1.6376 holds.
  • #3,055
  • Jul 15, 2009 1:09am Jul 15, 2009 1:09am
There's loads of resistance just above the 375 level - last week's high and todays MR2, so I've got my finger on my sell key......
Trading Levels with WRBs
  • #3,056
  • Jul 15, 2009 1:33am Jul 15, 2009 1:33am
Quoting Islander
There's loads of resistance just above the 375 level - last week's high and todays MR2, so I've got my finger on my sell key......
Cable managed to hit its 400 level with red spinning top and € has stalled at its MR2 line, also with small spinning tops, so I've taken a small short.......mid Frankies Hour is good for reversals / pull backs http://www.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #3,057
  • Jul 15, 2009 1:42am Jul 15, 2009 1:42am
Quoting Islander
Cable managed to hit its 400 level with red spinning top and € has stalled at its MR2 line, also with small spinning tops, so I've taken a small short.......mid Frankies Hour is good for reversals / pull backs http://www.forexfactory.com/images/icons/icon7.gif
So far the pull back has been 40 pips and I closed my short.......now to see IF we get a Lower High for another sell......
Trading Levels with WRBs
  • #3,058
  • Jul 15, 2009 1:44am Jul 15, 2009 1:44am
Quoting Islander
Cable managed to hit its 400 level with red spinning top and € has stalled at its MR2 line, also with small spinning tops, so I've taken a small short.......mid Frankies Hour is good for reversals / pull backs http://www.forexfactory.com/images/icons/icon7.gif
same here. got out at the 1.4025 level. do you use the xx20 & xx80 psych levels or the xx25 & xx75??? thx
  • #3,059
  • Jul 15, 2009 1:52am Jul 15, 2009 1:52am
My chart for the above posts / trades......I've just sold the 6400 level - again - the last 5m was on low volume, probably an upthrust / fakeout....TWT
Attached Image (click to enlarge)
Click to Enlarge Name: jly 15 cable 5m 0650.gif Size: 13 KB
Trading Levels with WRBs
  • #3,060
  • Jul 15, 2009 1:57am Jul 15, 2009 1:57am
Quoting no0odle
same here. got out at the 1.4025 level. do you use the xx20 & xx80 psych levels or the xx25 & xx75??? thx
Hi - nice one - I just have the 25s & 75s on my charts and I view them as areas / bands, so mentally for me, they cover the 20s and 80s
Trading Levels with WRBs
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