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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,301
  • Aug 11, 2009 2:19am Aug 11, 2009 2:19am
hello all,

can someone recommend a good and simple pivot indi?

thank you acuman and all regulars for the info here.

pax
even with my eyes open i cannot see everything
  • #3,302
  • Aug 11, 2009 2:21am Aug 11, 2009 2:21am
Quoting Vantage
600 pip drop in 3 days, we all know the trend is your friend but how much further can we go without some decent correction.

For now we seem to be struggling at todays open and M pivot around 6475, I'll go with the flow but wouldn't be surprised to see some move up before further falls.

Of course I could be wrong .......................... wouldn't be the first time.

If we do go up a little and turn good places could be W S1 at 6533 or 50% y's range at 6574, we'll see.
Hi V - looking at long term charts - daily. weekly and monthlys I've noticed that cable will trade in a range for some months and then move a couple of thousand or so pips and then settle into a new trading range. These moves seem come after a fundemental news shock changes the perceived value of cable vs the dollar.....Mr King may have just triggered one of these shifts......Time Will Tell......

IF so, then we may not get the more usual ammount of retracement - i.e. into the fib zone of the drop so far ~ 1.6660 to ~ 1.6810
Trading Levels with WRBs
  • #3,303
  • Edited 2:47am Aug 11, 2009 2:24am | Edited 2:47am
Quoting j-pax
hello all,

can someone recommend a good and simple pivot indi?

thank you acuman and all regulars for the info here.

pax
Pivot indi for daily pivots (start times can be changed for your trading day UK-US etc), plus options for days open prev days high/low and some fibs based on y's range. I use pivots multi time frame for weekly monthly.
Attached File(s)
File Type: ex4 Pivots.ex4   22 KB | 279 downloads
File Type: ex4 Pivot Points Multitimeframe.ex4   50 KB | 272 downloads
  • #3,304
  • Aug 11, 2009 2:26am Aug 11, 2009 2:26am
Quoting j-pax
hello all,

can someone recommend a good and simple pivot indi?

thank you acuman and all regulars for the info here.

pax
FYI, clicking on the paper clip icon on the top rhs of your page brings up all of the posted charts and indicators and you'll find plenty of pivot indys posted.......I use this one - you'll need to set up your time zone as its adjustable....
Attached File(s)
File Type: mq4 SDX-TzPivots.mq4   23 KB | 294 downloads
Trading Levels with WRBs
  • #3,305
  • Aug 11, 2009 2:30am Aug 11, 2009 2:30am
Quoting Vantage
Pivot indi for daily pivots (start times can be changed for your trading day UK-US etc), plus options for dyas open prev days high/low and some fibs based on y's range. I us pivots multi time frame for weekly monthly.
thanks vantage & islander, i will collect different ones and try them out??

good tip about attatchment paperclip
even with my eyes open i cannot see everything
  • #3,306
  • Aug 11, 2009 2:32am Aug 11, 2009 2:32am
Quoting Islander
Hi V - looking at long term charts - daily. weekly and monthlys I've noticed that cable will trade in a range for some months and then move a couple of thousand or so pips and then settle into a new trading range. These moves seem come after a fundemental news shock changes the perceived value of cable vs the dollar.....Mr King may have just triggered one of these shifts......Time Will Tell......

IF so, then we may not get the more usual ammount of retracement - i.e. into the fib zone of the drop so far ~ 1.6660 to ~ 1.6810
We are still on a higher low on daily. Since the (almost) double bottom low of 11 March there have been several good 3 day retracements and then the move up continues.

The low of 30 July looks quite important to me, if that fails then maybe $ continues stronger.

Thats all longer term stuff, for now I'll go with the flow 6500 or 6475 which way, I don't know but I'm prepared to follow.
  • #3,307
  • Aug 11, 2009 2:34am Aug 11, 2009 2:34am
Quoting j-pax
thanks vantage, is it standard GMT??
Have a look at the hourly chart I posted earlier to see where I start, seems to work well for UK session.

Pivots are bands, some days work to the pip some days close as not all start at exactly the same time.

These do work well for me though.
  • #3,308
  • Aug 11, 2009 2:40am Aug 11, 2009 2:40am
Islander - Steve Briese looks very interesting. Can't help thinking that when commercials and smaller traders are at opposite sides of COT range then big moves will follow. Meaning say big boys are massively short US$ and ordinary traders are massively long then some big moves are coming in spot market.

Do you actually use him now or previously and if so what did you think?
  • #3,309
  • Edited 2:54am Aug 11, 2009 2:53am | Edited 2:54am
So far this fall is all about Cable......the Dollar aka Swissy has been in a ~350 pip range for the past 12 weeks. There is talk that The Fed needs to see the Dollar Index back up to its January highs to enable it to keep selling its Bonds to foriegn countries - it HAS to do this to keep thei whole US monetry system functioning........IF that does happen both the Euro and Cable have a long way to fall......
Trading Levels with WRBs
  • #3,310
  • Aug 11, 2009 2:54am Aug 11, 2009 2:54am
Quoting Vantage
We are still on a higher low on daily. Since the (almost) double bottom low of 11 March there have been several good 3 day retracements and then the move up continues.

The low of 30 July looks quite important to me, if that fails then maybe $ continues stronger.

Thats all longer term stuff, for now I'll go with the flow 6500 or 6475 which way, I don't know but I'm prepared to follow.
also 17July low at 6265 & 76fib at 6237 from 8July low, and I have marked a rising channel bottom at 6212. All within reach if we have another day like ystrday.

Yep, longer term but maybe good bounce from there.

Today may be consolidn all morning. I trade indices at 8am & there has been nothing there either. World is on hold! At least vol has picked up on GU
  • #3,311
  • Aug 11, 2009 3:02am Aug 11, 2009 3:02am
Quoting Islander
My first TP has already been hit and I've just sold again on the second spike towards the 6500 level.....a higher vol ~ shooting star

Actually there were 4 sells available off the 6500 area the first 3 ran down to ~ the 475 SS and the last one to the 450 SS....that was my last exit and I've now sold again ~the 50% retrace = ~ the 475 SS.....http://www.forexfactory.com/images/icons/icon6.gif
Trading Levels with WRBs
  • #3,312
  • Aug 11, 2009 3:03am Aug 11, 2009 3:03am
Quoting Vantage
Islander - Steve Briese looks very interesting. Can't help thinking that when commercials and smaller traders are at opposite sides of COT range then big moves will follow. Meaning say big boys are massively short US$ and ordinary traders are massively long then some big moves are coming in spot market.

Do you actually use him now or previously and if so what did you think?
Very interesting point. If elephants are stacked up, maybe they will short to blow out traders & buy in again to support $ to bring it back up on behalf of US gvmt?
  • #3,313
  • Aug 11, 2009 3:08am Aug 11, 2009 3:08am
Quoting Vantage
Islander - Steve Briese looks very interesting. Can't help thinking that when commercials and smaller traders are at opposite sides of COT range then big moves will follow. Meaning say big boys are massively short US$ and ordinary traders are massively long then some big moves are coming in spot market.

Do you actually use him now or previously and if so what did you think?
I subscribed to his service when I was in the BVI and part time trading commodities - it was helpful in focusing my attention on those with the greater potential for a move.

I stopped when I started concentrating on day trading indicies and then currencies.
Trading Levels with WRBs
  • #3,314
  • Aug 11, 2009 3:11am Aug 11, 2009 3:11am
Quoting Islander
Actually there were 4 sells available off the 6500 area the first 3 ran down to ~ the 475 SS and the last one to the 450 SS....that was my last exit and I've now sold again ~the 50% retrace = ~ the 475 SS.....http://www.forexfactory.com/images/icons/icon6.gif
This waiting for hourly set up means you're stacking up the pips and I'm waiting for a trade.

Each to his own and go with what works for you, I am working on trying your style of trading levels, not there yet.
  • #3,315
  • Aug 11, 2009 3:17am Aug 11, 2009 3:17am
Quoting Islander
whoops - I forgot to say that I've just been working for the top guy of one of the world's largest chocolate conglomerates.......gotta keep their profits up so that they can pay my Captain's Fees.......
Greetings all...
just wanna ask Islander which company is it & if i can get free samples from his chocolate company ....


Quoting Islander
... There is talk that The Fed needs to see the Dollar Index back up to its January highs to enable it to keep selling its Bonds to foreign countries -......
where did u get this info?
Thanks for sharing, Sir...
  • #3,316
  • Edited 3:24am Aug 11, 2009 3:18am | Edited 3:24am
Quoting Barry Cade
Very interesting point. If elephants are stacked up, maybe they will short to blow out traders & buy in again to support $ to bring it back up on behalf of US gvmt?
Thats my understanding of how it works, big dogs set up a move when smaller traders are at opp side of trade.

When the big dogs are setting up short US$ on COT and small traders are long then we'll get the turn in GU.
  • #3,317
  • Aug 11, 2009 3:18am Aug 11, 2009 3:18am
Quoting Vantage
This waiting for hourly set up means you're stacking up the pips and I'm waiting for a trade.

Each to his own and go with what works for you, I am working on trying your style of trading levels, not there yet.

LOL - as you know, I'm down on the 1 min TF for FO / LO. so I find plenty of opportunities, some of which turn into longer term trades.....I closed my last short after price stalled at the MS1 pivot......some UK data due in 15 mins and also it seems as if the Europeans are less interested in shorting cable than the New Yorkers.....
Trading Levels with WRBs
  • #3,318
  • Aug 11, 2009 3:59am Aug 11, 2009 3:59am
Quoting supremeChaos
Greetings all...
just wanna ask Islander which company is it & if i can get free samples from his chocolate company ....

LOL - they are in the Benelux countries and Switzerland as their European HQ......my next suppiles dont arrive until the autum when the weather cools.....


where did u get this info?
Thanks for sharing, Sir...
In a post by Malcolmb14

we have to remember one thing .. China holding massive amounts of bonds they need to get rid of before usd drops . US will somehow manipulate dx back to 90 . .... liekly some form of agreement between china and us ( unwritten) that if they do this then china will waive some of the debt they owe them
__________________
Chief Janitor Idiot of charitable society "No Pip Left Behind"
Trading Levels with WRBs
  • #3,319
  • Aug 11, 2009 4:05am Aug 11, 2009 4:05am
Quoting Islander
LOL - as you know, I'm down on the 1 min TF for FO / LO. so I find plenty of opportunities, some of which turn into longer term trades.....I closed my last short after price stalled at the MS1 pivot......some UK data due in 15 mins and also it seems as if the Europeans are less interested in shorting cable than the New Yorkers.....

After the UK news price stalled around the confluence of todays open and the 475 level - there was then a clear LH on the 1 min chart so I sold and exited as price stalled - again - at the MS1 level, a nice 20+ pip move...http://www.forexfactory.com/images/icons/icon7.gif.....I'm finished for now, back for the early NY session......
Trading Levels with WRBs
  • #3,320
  • Aug 11, 2009 4:10am Aug 11, 2009 4:10am
Quote
...my next supplies dont arrive until the autumn when the weather cools..

Islander,
Thanks Sir...i waited for your reply.
are u talking of FREE supplies?


Quote
In a post by Malcolmb14
we have to remember one thing
Thanks again for this...
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