Psych Levels, Pivots, and Trendlines - Resurrected | Page 168 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,341
  • Aug 12, 2009 4:28am Aug 12, 2009 4:28am
Quoting Islander
Nice one V....BTW, what's your red MA?

Sorry been offline for about an hour, technology is wonderful ............ when it works!!
Its the 34 ema.
  • #3,342
  • Aug 12, 2009 4:31am Aug 12, 2009 4:31am
Quoting sailor68
Nice trade EV, i saw it, but a little bit late (134.77), then i didn't jump on it..only had a look of a nice miss trade....
right now, waiting for a good entry..
I nearly missed it myself......was busy watching something else at the time! I just love candle set-ups like that. Like anything else in Forex, they're not 100% guaranteed to deliver, but when they do, it's really sweet to watch!
  • #3,343
  • Aug 12, 2009 4:33am Aug 12, 2009 4:33am
With all the weakness we were waiting for a push up to 134.50. Again hindsight is perfect but with a higher vol shooting star rejection of 134.50 would love to think we'd have taken it. Our internet connect fell a few mins before.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 5 min.gif Size: 18 KB
  • #3,344
  • Aug 12, 2009 4:40am Aug 12, 2009 4:40am
This morning we had chats about gu and key levels etc etc and I overthought my basic system.

In a downtrend 1 hr had a nice lower close. The 5 min chart has the hourly close highlighted. A shooting star immediately followed, didn't take it as I thought I knew better. Follow your system. Missed opportunity 7927!

Thank goodness at least for ej this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 5 min.gif Size: 15 KB
Attached Image
  • #3,345
  • Aug 12, 2009 4:43am Aug 12, 2009 4:43am
Quoting eyevoltage
Which index? Do you spend a lot of time on the indices?
Dont spend much time on them. 8-9.00gmt on Dax, FTSE & Wall St. Dax has good moves past 7.00 high low. Also afternoons 1 & 3 especially. Wall St also moves a lot in last couple of hours of the day but its antisocial to stay online until 9pm
  • #3,346
  • Aug 12, 2009 4:46am Aug 12, 2009 4:46am
Quoting Vantage
With all the weakness we were waiting for a push up to 134.50. Again hindsight is perfect but with a higher vol shooting star rejection of 134.50 would love to think we'd have taken it. Our internet connect fell a few mins before.
Hey, mate, do you think you could post that Volume indy you have? I seem to have somehow mislaid the one I had! Go figure.
Do you have the colours as default, or are they your own concoction? And I'd appreciate how you interpret the different colours, if you don't mind.
Cheers
  • #3,347
  • Aug 12, 2009 4:49am Aug 12, 2009 4:49am
Quoting Barry Cade
...... but its antisocial to stay online until 9pm
Who says?

And thanks for the info!
  • #3,348
  • Aug 12, 2009 4:49am Aug 12, 2009 4:49am
Quoting Vantage
This morning we had chats about gu and key levels etc etc and I overthought my basic system.

In a downtrend 1 hr had a nice lower close. The 5 min chart has the hourly close highlighted. A shooting star immediately followed, didn't take it as I thought I knew better. Follow your system. Missed opportunity 7927!

Thank goodness at least for ej this morning.
Black cloud. I didnt see it - MAs obscured detail as flat lined since yesterday, so they ran all over the 1 hour candles. Another lesson.
  • #3,349
  • Aug 12, 2009 4:51am Aug 12, 2009 4:51am
Quoting eyevoltage
Hey, mate, do you think you could post that Volume indy you have? I seem to have somehow mislaid the one I had! Go figure.
Do you have the colours as default, or are they your own concoction? And I'd appreciate how you interpret the different colours, if you don't mind.
Cheers
There yer go. Cheers.

Colours are default.
Attached File(s)
File Type: ex4 BetterVolume 1.4.ex4   6 KB | 469 downloads
File Type: pdf VSA basics.pdf   1.6 MB | 768 downloads
  • #3,350
  • Aug 12, 2009 4:57am Aug 12, 2009 4:57am
Added the wrong doc EV. This explains the indi colours.
Attached File(s)
File Type: pdf Better_Volume_Indicator%202[1].pdf   322 KB | 1,773 downloads
  • #3,351
  • Aug 12, 2009 5:02am Aug 12, 2009 5:02am
I thought this was also very good in explaining candles with volume and what to look for if certain candles happen and don't follow through.

For example you might have a hammer with good vol and slightly lower close on following candle with vol falling away ie the fall may continue.
Attached File(s)
File Type: pdf VSA document.pdf   463 KB | 1,762 downloads
  • #3,352
  • Aug 12, 2009 5:04am Aug 12, 2009 5:04am
Quoting Barry Cade
Black cloud. I didnt see it - MAs obscured detail as flat lined since yesterday, so they ran all over the 1 hour candles. Another lesson.
I'll take an hourly close over a 1 hr ma anyday, takes too long for a ma to turn on 1 hr.
  • #3,353
  • Aug 12, 2009 5:05am Aug 12, 2009 5:05am
OK my internet connection is vveeerrrrrrrrrry slow so I'm outta here for a bit, cheers.
  • #3,354
  • Aug 12, 2009 5:10am Aug 12, 2009 5:10am
Thanks for the indicator and both docs, Vantage.

Much appreciated.
  • #3,355
  • Aug 12, 2009 5:51am Aug 12, 2009 5:51am
Quoting Vantage
I'll take an hourly close over a 1 hr ma anyday, takes too long for a ma to turn on 1 hr.
Thx for VSA doc & good point above, although I have been using MAs for trades that follow the trends rather than scalping

Ive been following your links re vsa & found some v interesting stuff that is so obvious when you think about it, but hardly anyone appears to understand, or on the face of it, apply or explain. Fundamental really.

Having been in sales & marketing for years I was always concerned about volume & how the elephants traded. These explain it all! BIG light has gone on. Thanks so much.
  • #3,356
  • Aug 12, 2009 6:56am Aug 12, 2009 6:56am
Quoting Barry Cade
Ive been following your links re vsa & found some v interesting stuff that is so obvious when you think about it, but hardly anyone appears to understand, or on the face of it, apply or explain. Fundamental really.

Having been in sales & marketing for years I was always concerned about volume & how the elephants traded. These explain it all! BIG light has gone on. Thanks so much.
Yes whilst I'm miles from competent on vsa the above doc's did help explain candles in a way that I've never seen elsewhere. As I place major reliance on what the 1hr is doing this has helped me significantly.

The reason I was selling ej, y's low a relatively small push up = no demand (yes also time of day) then fell today into S1 again (ND) = no demand with a shooting star closing on S1. Never interested in anything else but selling.

Next stop better knowledge of COT.
Attached Image
  • #3,357
  • Aug 12, 2009 7:01am Aug 12, 2009 7:01am
I just short eu, M15 shooting star short at 4158, also on H1 reject of ema 62 (double confirmation) ,i short also ej at 135.61 M15 shooting star, let we see now the candle pattern
Trade with the momentum
  • #3,358
  • Aug 12, 2009 7:36am Aug 12, 2009 7:36am
Quoting sailor68
I just short eu, M15 shooting star short at 4158, also on H1 reject of ema 62 (double confirmation) ,i short also ej at 135.61 M15 shooting star, let we see now the candle pattern

Ive just had a look at EJ on 5 min. From the stuff Ive read this morning, the signal is fine but the volume was normal, so its not an exhaustion "star". May take a while to wash out. Hope you get your pips.

V, what do you think as you know more than me.
  • #3,359
  • Aug 12, 2009 7:48am Aug 12, 2009 7:48am
Quoting Barry Cade
Ive just had a look at EJ on 5 min. From the stuff Ive read this morning, the signal is fine but the volume was normal, so its not an exhaustion "star". May take a while to wash out. Hope you get your pips.

V, what do you think as you know more than me.
Barry I'd ask vsa questions on the vsa thread, there are some very good guys there.

Pushed up to 135.91 where there is a monthly pivot level M M3 plus todays open. There was a high vol push up a few candles earlier which didn't follow through so far, and the candles following the shooting star also show no follow through.

I'd personally be looking for a push up and fail for a solid lower high, but thats me, as things stand whilst we have had a lower 1 hr close last candle we are still actually on a higher high and higher low on 5 min.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 5 min.gif Size: 17 KB
  • #3,360
  • Aug 12, 2009 7:53am Aug 12, 2009 7:53am
Quoting Barry Cade
Ive just had a look at EJ on 5 min. From the stuff Ive read this morning, the signal is fine but the volume was normal, so its not an exhaustion "star". May take a while to wash out. Hope you get your pips.

V, what do you think as you know more than me.

Malcolm is regarded as 1 of the better vsa traders around and he's always saying don't trade vsa from 1 candle, rather whats the whole picture.
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