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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,361
  • Aug 12, 2009 7:56am Aug 12, 2009 7:56am
Quoting Vantage
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.
Meaning that this trade does not quite meet my requirements yet so I'd be happy to let go and not worry what it does. There are more than enough trades that do meet my requirements.
  • #3,362
  • Aug 12, 2009 8:08am Aug 12, 2009 8:08am
You can sign up at http://emini-watch.com/ and they send out an email every day. Not on forex but that doesn't matter they have lots of charts with explanations of whats happening vsa wise so you can start getting an idea what certain set ups mean.
  • #3,363
  • Aug 12, 2009 8:13am Aug 12, 2009 8:13am
Hi Guys.....since I got back I've been trading off a couple of confluences..Sell the 475/DP/todays open area and Buy the 425/S1/yesterdays low area......so far 4 nice trades.....also, I guess that you've noticed the HLs / rising T/L since this morning's low around the S2 / 6400 confluence....IF the DP/6475 area breaks I'd expect the R1/yesterdays high/6525 area to get tested - and yes, I'm long.....
Trading Levels with WRBs
  • #3,364
  • Aug 12, 2009 9:01am Aug 12, 2009 9:01am
Quoting Islander
Hi Guys.....since I got back I've been trading off a couple of confluences..Sell the 475/DP/todays open area and Buy the 425/S1/yesterdays low area......so far 4 nice trades.....also, I guess that you've noticed the HLs / rising T/L since this morning's low around the S2 / 6400 confluence....IF the DP/6475 area breaks I'd expect the R1/yesterdays high/6525 area to get tested - and yes, I'm long.....
6500 level hit and I've banked some profits....next stop yesterdays high/R1/6525
Trading Levels with WRBs
  • #3,365
  • Aug 12, 2009 9:16am Aug 12, 2009 9:16am
Quoting Islander
6500 level hit and I've banked some profits....next stop yesterdays high/R1/6525
As my old friend Bravado would say....CHA CHING...cable burst straight thru the 6525 and on to the MR2 / 6550 confluence where I've exited for now....I need to update my analysis.....another long is probable on any pull back....
Trading Levels with WRBs
  • #3,366
  • Aug 12, 2009 9:28am Aug 12, 2009 9:28am
Quoting Vantage
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.

Had to go out & Ive just got back in. That cost me! I was waiting for my buying points, which were achieved 5 mins after I had to leave. Oil up 75 & Wall St up 20. Have to manage these trades actively so its another grrrr moment. Is it just me but this happens SO often? Missed Dax this morning that went up 35. PM I was live & had to close out, only -4, but the principle is irksome.

In retrospect I can agree with you. Up at 13650 now & vol still big with small candles. Bit of a bun fight. I guess its a PP. I'm not looking to trade as I havent got PP set up as its on a different computer, just looking to improve candle recognition on this.
  • #3,367
  • Aug 12, 2009 9:47am Aug 12, 2009 9:47am
I missed this chart earier 'cause its on my other 'puter.....look at the hints that the combination of volume and "The Levels" gave us.....

1. A high vol red hammer spiking down to the 6400 level......profit taking &/or buying

2.Another high vol narrower candle....ditto.

3. An ultra high vol doji - here the buyers took on all of the sellers and managed to keep the price in the same area.

After all of this classic Accumulation price moved steadily up 170 pips

4. Another UHV candle with an upside wick - a sign of profit taking

PS I finally exited my last long after the wide range 5m green candle broke above the 6550 level and was immediatly followed by a small red spinning top
Attached Image (click to enlarge)
Click to Enlarge Name: aug cable 15m 1430.gif Size: 12 KB
Trading Levels with WRBs
  • #3,368
  • Edited 10:01am Aug 12, 2009 9:58am | Edited 10:01am
[quote=Islander;2949527]I missed this chart earier 'cause its on my other 'puter.....look at the hints that the combination of volume and "The Levels" gave us.....

Love this. Straight from the explanations V put me onto early this morning Wish I could have speed-read in time for these!!!

If I had volumes with my oil & indices charts I reckon risks will be a fraction of what they are at the moment. The brokers I was recommended the other day didnt have the MT4 charts I needed.

Anyone here today that can recommend an MT4 platform with oil & indices?

Thx again guys.

ps my system is set up for RSI at 10. Oversold low at 8.15, & just broke into overbought at 3.15 confirming your position. Spot on
  • #3,369
  • Aug 12, 2009 10:01am Aug 12, 2009 10:01am
Quoting Islander
I missed this chart earier 'cause its on my other 'puter.....look at the hints that the combination of volume and "The Levels" gave us.....

1. A high vol red hammer spiking down to the 6400 level......profit taking &/or buying

2.Another high vol narrower candle....ditto.

3. An ultra high vol doji - here the buyers took on all of the sellers and managed to keep the price in the same area.

After all of this classic Accumulation price moved steadily up 170 pips

4. Another UHV candle with an upside wick - a sign of profit taking...
I know this is, strictly speaking, off-topic on this thread, but thanks for the info above, mate. Getting the low-down with the accompanying visuals really does help a lot.
Thanks again, mate.
Cheers
  • #3,370
  • Aug 12, 2009 10:05am Aug 12, 2009 10:05am
[quote=Barry Cade;2949572]
Quoting Islander
.......The brokers I was recommended the other day didnt have the MT4 charts I needed.

Anyone here today that can recommend an MT4 platform with oil & indices?

Hi Barry.
Didn't I suggest ICM to you the other day? On their MT4 platform, they have a fair mixture of commodities and indices. Did you give it a try, mate?
  • #3,371
  • Aug 12, 2009 10:08am Aug 12, 2009 10:08am
Quoting eyevoltage
I know this is, strictly speaking, off-topic on this thread, but thanks for the info above, mate. Getting the low-down with the accompanying visuals really does help a lot.
Thanks again, mate.
Cheers
Hi EV......I did wonder about posting it in this thread, but decided that you guys would understand its relevence to my decision making / trading.....and if it helps others make more pips then IMO that's what we're here for......

Cheers

Islander
Trading Levels with WRBs
  • #3,372
  • Aug 12, 2009 10:12am Aug 12, 2009 10:12am
[quote=eyevoltage;2949606]
Quoting Barry Cade

Hi Barry.
Didn't I suggest ICM to you the other day? On their MT4 platform, they have a fair mixture of commodities and indices. Did you give it a try, mate?

You did indeed, thanks. I couldnt find them. Google only showed Inst of Credit Mgmt!!!

Sorry to create work, but whats their web site, or full name?
  • #3,373
  • Aug 12, 2009 10:14am Aug 12, 2009 10:14am
Quoting Islander
Hi EV......I did wonder about posting it in this thread, but decided that you guys would understand its relevence to my decision making / trading.....and if it helps others make more pips then IMO that's what we're here for......

Cheers

Islander
I think its added a lot greater understanding of the fundamentals of this thread, rather than take us into adding more indicators.

EV as you are the General, is that ok to continue?
  • #3,374
  • Aug 12, 2009 10:36am Aug 12, 2009 10:36am
[quote=Barry Cade;2949637]
Quoting eyevoltage


You did indeed, thanks. I couldnt find them. Google only showed Inst of Credit Mgmt!!!

Sorry to create work, but whats their web site, or full name?
Here you go, mate......


http://www.icmtrading.com/
  • #3,375
  • Aug 12, 2009 10:44am Aug 12, 2009 10:44am
Here is my first ever live trade in accordance with this thread. GU 5 min piercing pattern off the 34 ema. Closed at M4 and 50 zone with +25, stop loss was 21 pips away so a little over 1:1 trade. Looks like I don't need to get up at 2am to trade after all.

trublu
Attached Image (click to enlarge)
Click to Enlarge Name: gu piercing pattern.gif Size: 22 KB
  • #3,376
  • Aug 12, 2009 10:49am Aug 12, 2009 10:49am
Basically the same trade except on the EU. Not sure if it was really a piercing pattern because I'm not sure if it closed above the midpoint of the previous candle, looked close enough. I was bummed that I missed out on easy opportunities earlier but these trades make up for that. Once again got out at +25, stop loss was 16 pips away so a little better than 1:1 here too.

trublu
Attached Image (click to enlarge)
Click to Enlarge Name: eu piercing pattern.gif Size: 17 KB
  • #3,377
  • Edited 11:08am Aug 12, 2009 10:52am | Edited 11:08am
Quoting Barry Cade
.............

EV as you are the General, is that ok to continue?
Hey, mate, I'm not running my own private army here! If there's a General involved, then it's got to be the originator of this thread....

The Mighty Acumen!!!

Seriously, I guess the little bits and pieces of Volume Analysis that we refer to will be ok, so long as we save any major queries for the proper thread.

While we're on the subject, speaking for myself, I'm not keen on charts on this thread containing lower panes (apart from volume), purely and simply because it seems to go against acumen's ideal.

But, hey, that's just me.
  • #3,378
  • Aug 12, 2009 11:08am Aug 12, 2009 11:08am
True Blue...right? Chicago Cubs fan....right?

Nice to see you on the thread, mate, and with two lovely trades. Carry on like that, and you won't go far wrong!!

Yep, BOTH patterns were piercing patterns, to all intents and purposes. The real purists might not agree re the second one, but IMO, they'll do!!

More please, as and when.
Cheers
  • #3,379
  • Aug 12, 2009 11:09am Aug 12, 2009 11:09am
Quoting trublu
Here is my first ever live trade in accordance with this thread. GU 5 min piercing pattern off the 34 ema. Closed at M4 and 50 zone with +25, stop loss was 21 pips away so a little over 1:1 trade. Looks like I don't need to get up at 2am to trade after all.

trublu
good win
  • #3,380
  • Aug 12, 2009 11:12am Aug 12, 2009 11:12am
Quoting eyevoltage
True Blue...right? Chicago Cubs fan....right?

Nice to see you on the thread, mate, and with two lovely trades. Carry on like that, and you won't go far wrong!!

Yep, BOTH patterns were piercing patterns, to all intents and purposes. The real purists might not agree re the second one, but IMO, they'll do!!

More please, as and when.
Cheers
Cubs all the way!!! Actually went to a game last week, but they lost . I didn't know you english fellows knew baseball.

I'm just trying to keep it simple and look for candlestick patterns at psych lines or MA's with the trend.

Now I just need to practice more and get more screen time and hopefully keep it up and catch up to your guys level.

Just want to say a quick thank you to acumen, islander and EV as well as everyone else who posts here. This quickly became my favorite thread at FF and I hope to post here more when I take more trades.

trublu
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