Psych Levels, Pivots, and Trendlines - Resurrected | Page 159 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,161
  • Jul 27, 2009 3:24am Jul 27, 2009 3:24am
Hello guy's how are you doing with your Psych Levels, Pivots and Trendlines.
  • #3,162
  • Jul 27, 2009 3:27am Jul 27, 2009 3:27am
Quoting nasir.khan
Hello guy's how are you doing with your Psych Levels, Pivots and Trendlines.

Just fine, nasir, thanks. You thinking of joining the thread?
  • #3,163
  • Jul 27, 2009 3:34am Jul 27, 2009 3:34am
Quoting eyevoltage
Just fine, nasir, thanks. You thinking of joining the thread?
Yeah thank's i am not joining i am more on 4h macd but i will be around.
  • #3,164
  • Jul 27, 2009 3:55am Jul 27, 2009 3:55am
Hi all,

gu, today my first trade , i sell just after the first shooting star, but my stop at 65145 was eat by a second shooting star (what about a sl at the psych level 65250...) ,than i sell again just after the second shooting star and exit at psych level 64500.
Attached Image
Trade with the momentum
  • #3,165
  • Jul 27, 2009 4:37am Jul 27, 2009 4:37am
Quoting sailor68
Hi all,

gu, today my first trade , i sell just after the first shooting star, but my stop at 65145 was eat by a second shooting star (what about a sl at the psych level 65250...) ,than i sell again just after the second shooting star and exit at psych level 64500.
Nice trade, mate, especially after having being stopped out. You've just got to watch out for those spikes, and I'm wondering where exactly you entered the trade? My entry, if I'd been involved, would have been just under the low of the first shooting star, which possibly wouldn't have happened until AFTER that second spike! Just a thought......
  • #3,166
  • Jul 27, 2009 4:48am Jul 27, 2009 4:48am
Quoting eyevoltage
Nice trade, mate, especially after having being stopped out. You've just got to watch out for those spikes, and I'm wondering where exactly you entered the trade? My entry, if I'd been involved, would have been just under the low of the first shooting star, which possibly wouldn't have happened until AFTER that second spike! Just a thought......
yes for sure usually under the low of the first shooting star, (or after the next candle for confirmation of the signal) but this time, i didn't wait.....aftet that i wanted to be long at 64500 after two more spike, but i didn't take this trade (maybe because my first trade was not so perfect...right now waiting for nice signal.... on gu, eu or ej.....thanks for your advise, waiting for your chart, like to learn with it....
Trade with the momentum
  • #3,167
  • Jul 27, 2009 10:10am Jul 27, 2009 10:10am
..........if there's anyone else knocking around?

I took this trade earlier on the 5m eur/usd, but couldn't post it right away due to other commitments.

A nice bearish pin-bar, followed by a dark-cloud cover candle perfectly placed within the 13/34ema zone, between R1 and the xx50 psych-line. Entry as indicated just under the said psych-line and exit as price started retreating back up to the same line. The perfect set-up.
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  • #3,168
  • Jul 27, 2009 10:32am Jul 27, 2009 10:32am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Great trade EV.

Interesting how it generally doesn't matter if you watch the news or not - just trade what you see...

Out of interest, that Bearish-Pin was caused by US New Home Sales figure coming out a lot better that expected.... an initial rally... which was subsequently sold into heavily.

I watch the ES (mini-S&P500 contract) and it is quite well correlated to E/U most of the time.


Magnus
  • #3,169
  • Jul 27, 2009 10:53am Jul 27, 2009 10:53am
Quoting Yuppie
Great trade EV.

Interesting how it generally doesn't matter if you watch the news or not - just trade what you see...

Out of interest, that Bearish-Pin was caused by US New Home Sales figure coming out a lot better that expected.... an initial rally... which was subsequently sold into heavily.

I watch the ES (mini-S&P500 contract) and it is quite well correlated to E/U most of the time.




Magnus
To be honest with you, Magnus, I once again forgot to check the calendar! However, "just trade what you see" seems to be the thing to do, unless the NFP's imminent!!
I've not had time to really watch the charts today, so it was fortuitous that I just happened to be having a tea-break when I saw this set-up occurring. Sometimes you CAN be in the right place at the right time!!

Cheers
  • #3,170
  • Jul 29, 2009 10:25pm Jul 29, 2009 10:25pm
Nice trading EV.
  • #3,171
  • Jul 30, 2009 2:40am Jul 30, 2009 2:40am
Hourly up, bought after hammer in uptrend 6438 exit for 40.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5 min.gif Size: 13 KB
  • #3,172
  • Jul 30, 2009 3:09am Jul 30, 2009 3:09am
Quoting Vantage
Hourly up, bought after hammer in uptrend 6438 exit for 40.
Good trading, Van. I might have spotted that nice little hammer myself if I'd been awake!! I've just had a look at it on my chart, and see that it was after a retrace to the xx25 psych-line, and as such, just begging to be traded! Nice one, mate.
  • #3,173
  • Jul 30, 2009 3:17am Jul 30, 2009 3:17am
If it'll help this gives alerts.

Also this really good vsa/candle summary is very good indeed. As posted on Shamus's vsa thread.
Attached File(s)
File Type: ex4 Pattern_Recognition_Master_v3.ex4   24 KB | 424 downloads
File Type: pdf VSA document.pdf   463 KB | 727 downloads
  • #3,174
  • Jul 30, 2009 3:32am Jul 30, 2009 3:32am
Quoting Vantage
If it'll help this gives alerts.

Also this really good vsa/candle summary is very good indeed. As posted on Shamus's vsa thread.
Thanks for both, mate. The doc looks like very interesting reading.
Cheers
  • #3,175
  • Jul 31, 2009 6:07am Jul 31, 2009 6:07am
Good day, folks.

Not much activity on this forum lately, so I'm posting this trade which has just finished on eur/jpy.

The harami on the xx75 psych-line promised good things, so I waited and watched as a higher low candle opened bang on the said psych-line. I entered just above the high of the harami candle and then waited to see what would transpire. There was a brief consolidation on the xx00 psych-line before price continued up to the R1 line, where I bailed out.
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  • #3,176
  • Jul 31, 2009 7:04am Jul 31, 2009 7:04am
hii people, no activity on here i see, i have been away the past week (vacation at last ). my first trade today was a small pin on EU, took a small loss on it. next trade was a nice pin on that is a retracement of the last mini swing, while also resting on the 34 and 100 EMAs, half out at xx25 and other half is out at the next tick. next trade was a nice engulfing bar at the xx50 level, in after the break of the bar and got out after the break of the pin bar that formed on the xx25 and 34EMA (i missed going long because i was posting ). you can see i stopped using pivots, psych levels, MAs and support and resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 28 KB
  • #3,177
  • Jul 31, 2009 7:13am Jul 31, 2009 7:13am
Quoting no0odle
hii people, no activity on here i see, i have been away the past week (vacation at last ). my first trade today was a small pin on EU, took a small loss on it. next trade was a nice pin on that is a retracement of the last mini swing, while also resting on the 34 and 100 EMAs, half out at xx25 and other half is out at the next tick. next trade was a nice engulfing bar at the xx50 level, in after the break of the bar and got out after the break of the pin bar that formed on the xx25 and 34EMA (i missed going long because i was posting ). [b]you...
Some nice activity there, no0odle, but you've got me totally puzzled by that last sentence!
  • #3,178
  • Jul 31, 2009 7:15am Jul 31, 2009 7:15am
Quoting no0odle
you can see i stopped using pivots, psych levels, MAs and support and resistance.
Sorry.
This is that last sentence!
  • #3,179
  • Jul 31, 2009 7:20am Jul 31, 2009 7:20am
Quoting eyevoltage
Sorry.
This is that last sentence!
hehehe sorry for that. stopped using pivots, now only using psych levels and MAs and supp & resist.
  • #3,180
  • Jul 31, 2009 8:18am Jul 31, 2009 8:18am
Quoting no0odle
hehehe sorry for that. stopped using pivots, now only using psych levels and MAs and supp & resist.
OK, mate, gotcha!
However, stopping using pivots doesn't mean they won't be there!
Do yourself a favour, mate, and just keep an eye on them. Otherwise, they'll surely creep up on you when you least expect it and bite you in the ass!!
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