Psych Levels, Pivots, and Trendlines - Resurrected | Page 154 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,061
  • Jul 15, 2009 2:08am Jul 15, 2009 2:08am
Quoting Islander
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
your entries are after the close of the bar or after the break of the high/low of the bar?
  • #3,062
  • Jul 15, 2009 2:28am Jul 15, 2009 2:28am
Quoting no0odle
your entries are after the close of the bar or after the break of the high/low of the bar?
Around FO / LO I always drop down to my 1 min charts, so I'll take exits and entries in the direction of the 30ema off that chart. IF I'm trading against the 30ema, then I prefer to wait for the close of the 5m so that I can also see the volume.

Remember that I'm also watching the 5 min Euro and Swissy as these often give a good "heads up" into cable's action.

I also watch the 15m and hourly closes and volumes......
Trading Levels with WRBs
  • #3,063
  • Jul 15, 2009 2:36am Jul 15, 2009 2:36am
Quoting Islander
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......
We did - 5 pips lower in the second attempt on the 6400 level and I sold as posted earlier....closed as price stalled at the earlier low of 6364 - also the start of the fib retracements of the rally AND the 30ema.....data due in an hour and I have to go out, so I'm finished for this morning....BFN
Trading Levels with WRBs
  • #3,064
  • Jul 15, 2009 3:18am Jul 15, 2009 3:18am
Quoting Islander
Around FO / LO I always drop down to my 1 min charts, so I'll take exits and entries in the direction of the 30ema off that chart. IF I'm trading against the 30ema, then I prefer to wait for the close of the 5m so that I can also see the volume.

Remember that I'm also watching the 5 min Euro and Swissy as these often give a good "heads up" into cable's action.

I also watch the 15m and hourly closes and volumes......
thanks alot mate
  • #3,065
  • Jul 16, 2009 1:03am Jul 16, 2009 1:03am
GM all - Lower Highs on 15m & 5m with the last one about an hour and a half ago a graveyard doji just spiking to 6410.....that made the sell off the retest of the 400 level a no brainer that dropped 30 pips for a nice start to my day.....now for FO....
Trading Levels with WRBs
  • #3,066
  • Jul 16, 2009 3:13am Jul 16, 2009 3:13am
LOL - what a nice morning.....just keep selling the 6400 area and take ~20 pips and repeat......I'm keeping part of a position open for if / when the MS1 support at 6360 breaks....
Trading Levels with WRBs
  • #3,067
  • Jul 16, 2009 3:29am Jul 16, 2009 3:29am
Quoting Islander
LOL - what a nice morning.....just keep selling the 6400 area and take ~20 pips and repeat......I'm keeping part of a position open for if / when the MS1 support at 6360 breaks....
Hi Islander, then today you are only short (until 6360) ? you won't take position long to 6400, on each bounce.....maybe you look also the tendancy on H1....
Trade with the momentum
  • #3,068
  • Jul 16, 2009 3:41am Jul 16, 2009 3:41am
Quoting sailor68
Hi Islander, then today you are only short (until 6360) ? you won't take position long to 6400, on each bounce.....maybe you look also the tendancy on H1....
Hi - so far I'm biased short off my 15 min chart - and yes, I have also taken some buys off the support .....its strong support as it is last week's high.

Also, €s holding at its DP / 4075 level with Swissy so far not able to get up to its 800 level.......these are helping hold cable.....no problem, I'll just keep pirating pips from the current range before I go out http://www.forexfactory.com/images/icons/icon6.gif
Trading Levels with WRBs
  • #3,069
  • Jul 16, 2009 4:09am Jul 16, 2009 4:09am
Just closed my last shorts at the 6375 level.....after reviewung my 15m / 60m charts I'm thinking that there has been accumulation taking place in the pushes down to the 360 area......IF I'm correct, this is setting up for a push north......TWT......BFN
Trading Levels with WRBs
  • #3,070
  • Jul 16, 2009 6:12am Jul 16, 2009 6:12am
the shaded area is very strong (6400 level, weekly R1, daily pivot) talk about confluence. missed the first shooting star, was sleeping (6:45am here) took the engulfing bar out couple of pips before the x75 level. then took the shooting star, entry after break of the xx75 level, out at the M2 line.
missed the rally to the 6450 level
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  • #3,071
  • Jul 16, 2009 7:17am Jul 16, 2009 7:17am
Quoting no0odle
the shaded area is very strong (6400 level, weekly R1, daily pivot) talk about confluence. missed the first shooting star, was sleeping (6:45am here) took the engulfing bar out couple of pips before the x75 level. then took the shooting star, entry after break of the xx75 level, out at the M2 line.
missed the rally to the 6450 level
Some nice trades there, mate. In particular, I like the way you trade off high-probability reversal candlesticks. You really can't beat 'em!!
  • #3,072
  • Jul 16, 2009 7:40am Jul 16, 2009 7:40am
Quoting Islander
Just closed my last shorts at the 6375 level.....after reviewung my 15m / 60m charts I'm thinking that there has been accumulation taking place in the pushes down to the 360 area......IF I'm correct, this is setting up for a push north......TWT......BFN
looks as if that was a correct analysis......pity I only left a small long open.....I've just sold the news driven spike up to the 6475 level / yesterdays high and already TP....now I need confirmation to start more serious shorting......
Trading Levels with WRBs
  • #3,073
  • Jul 16, 2009 7:57am Jul 16, 2009 7:57am
Both my 5m and 15m charts have high volume shooting stars, € similar and Swissy a 5 min graveyard doji on its low......I'm reading cable as having profit taking / selling in that HV spike up, so I've just taken a small initial sell off the 6450 level.....
Trading Levels with WRBs
  • #3,074
  • Jul 16, 2009 8:09am Jul 16, 2009 8:09am
Quoting eyevoltage
Some nice trades there, mate. In particular, I like the way you trade off high-probability reversal candlesticks. You really can't beat 'em!!
i am in love with candlestick patterns
  • #3,075
  • Jul 16, 2009 8:29am Jul 16, 2009 8:29am
Quoting Islander
Both my 5m and 15m charts have high volume shooting stars, € similar and Swissy a 5 min graveyard doji on its low......I'm reading cable as having profit taking / selling in that HV spike up, so I've just taken a small initial sell off the 6450 level.....

MY TP was at the 5m 30 ema which gave a nice bounce back up to yesterdays high so I sold again and TP partials at the 425 level - now just under the 30 ema which is rolling over.....
Trading Levels with WRBs
  • #3,076
  • Jul 16, 2009 9:35am Jul 16, 2009 9:35am
Quoting Islander
MY TP was at the 5m 30 ema which gave a nice bounce back up to yesterdays high so I sold again and TP partials at the 425 level - now just under the 30 ema which is rolling over.....

You're certainly making up for last week, mate!! Good stuff.
  • #3,077
  • Jul 16, 2009 10:39am Jul 16, 2009 10:39am
price broke daily pivot and .25 level then retraced back to it to give a beautiful shooting star. half out at 132.00, the other half is out at .80

islander and EV your posts are really one of the best posts around this forum . hope to learn more from you guys.
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  • #3,078
  • Jul 16, 2009 10:49am Jul 16, 2009 10:49am
Quoting no0odle
price broke daily pivot and .25 level then retraced back to it to give a beautiful shooting star. half out at 132.00, the other half is out at .80

islander and EV your posts are really one of the best posts around this forum . hope to learn more from you guys.
You're too kind, no0odle, and I'm sure Islander would agree. It's good to see how you're basically concentrating on acumen's method of using pivots and psych-lines, mate. Keep posting your charts. We're all here to learn from each other!
  • #3,079
  • Jul 16, 2009 11:02am Jul 16, 2009 11:02am
Here's a very simple (acumen style) trade on cable. The spinning-top and engulfing candle initiated a short spell of waiting for price to drop through the xx.25 psych-line, with an entry under the 1st white arrow. Exit indicated by the 2nd white arrow. Around 15 pips in profit. I'm sticking with the acumen style in future, after trying all sorts of variations. Pivots and psych-lines. K.I.S.S.
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  • #3,080
  • Jul 16, 2009 11:58am Jul 16, 2009 11:58am
Quoting eyevoltage
I'm sticking with the acumen style in future, after trying all sorts of variations. Pivots and psych-lines. K.I.S.S.
Thatīs what i want to see (and read) !!
Donīt live for working, but work for living.
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