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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,521
  • Aug 19, 2009 7:58am Aug 19, 2009 7:58am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyevoltage
Been a lot of activity on this thread today, but I've been busy with other duties, I'm afraid.
However, once I'd got some time to myself, I saw this offer which I couldn't refuse!
5m EJ......early exit, as it turned out, but I'm still happy with the result.

Very nice trade.

Platform I am using just now has the ability to offset time. Here is a 15-min chart of your trade with the time offset (+5 mins) so that instead of each 15-min closing at :15, :30, etc... it closes at :20, :50, etc...

It's interesting how candles/patterns build into each other... the wonders of fractal markets...


Magnus


EDIT: Notice the decreasing volume on the bars as price rises towards the 15-min Shooting Star. Price rising but buyers not interesting in taking it up....
Attached Image (click to enlarge)
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  • #3,522
  • Aug 19, 2009 8:03am Aug 19, 2009 8:03am
Quoting Yuppie
Very nice trade.

Platform I am using just now has the ability to offset time. Here is a 15-min chart of your trade with the time offset (+5 mins) so that instead of each 15-min closing at :15, :30, etc... it closes at :20, :50, etc...

It's interesting how candles/patterns build into each other... the wonders of fractal markets...


Magnus


EDIT: Notice the decreasing volume on the bars as price rises towards the 15-min Shooting Star. Price rising but buyers not interesting in taking it up....

thx for that. Not seen a fractal before.
  • #3,523
  • Aug 19, 2009 8:10am Aug 19, 2009 8:10am
Quoting eyevoltage
What's that mean? "No longer blurred". Why's that?

Oil bouncing big time is anything but good news for us in the UK. The flamin' Government will be adding more fuel duty at the end of September, to load even more pain on us. You'd think they'd have a bit of sense and REDUCE the duty, in order to keep the delivery wagons in business. Dickheads.
Just an attempt at a simile. Meant I had previously been looking at oil & indices charts without seeing detail. Difficult to spot s/r, add PPs, & fibs as IG charting is inadequate & time consuming. Makes trading v risky esp with oil as it whipsaws.

I should now be able to reduce risk & take more trades.
Amazing what can happen when you arent fighting the world on your own.

Dont get me soapboxing on gvmt & their total incompetence. This is not a recent opinion based upon current climate, but a long held view. Lightweights, makeweights, buffoons & fraudsters. Kleptocracy. That will do for starters.

"Were doomed Mr Mannering"
  • #3,524
  • Aug 19, 2009 8:13am Aug 19, 2009 8:13am
Quoting Yuppie
Very nice trade.

Platform I am using just now has the ability to offset time. Here is a 15-min chart of your trade with the time offset (+5 mins) so that instead of each 15-min closing at :15, :30, etc... it closes at :20, :50, etc...

It's interesting how candles/patterns build into each other... the wonders of fractal markets...


Magnus


EDIT: Notice the decreasing volume on the bars as price rises towards the 15-min Shooting Star. Price rising but buyers not interesting in taking it up....
In actual fact, the candles provide the same information. Look at them rising towards the shooting star....each one a doji, indicating indecision, but with two of the candles indicating bearish tendencies (upper shadows and no lower ones).

Very interesting.
  • #3,525
  • Aug 19, 2009 8:16am Aug 19, 2009 8:16am
Quoting Barry Cade

Dont get me soapboxing on gvmt & their total incompetence. This is not a recent opinion based upon current climate, but a long held view. Lightweights, makeweights, buffoons & fraudsters. Kleptocracy. That will do for starters.

"Were doomed Mr Mannering"
You're my kind of guy, Barry. We're entirely of the same opinion, you and I.

  • #3,526
  • Aug 19, 2009 8:20am Aug 19, 2009 8:20am
EV, if you want to worry even more about our future because of the lying b'stardos who mismanage the country, read books by Vernon Coleman. Eyeopening. Also read the Bilderberg Group by Daniel Estulin. Scary how the economies of the world are being controlled. Members of this group should be hanged for treason, murder & economic warfare.

Trouble is you can become a cynic & conspiracy theorist. However, some of the content should be compulsory reading for all voters, otherwise they shouldnt be allowed a vote!!!
  • #3,527
  • Aug 19, 2009 8:22am Aug 19, 2009 8:22am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyevoltage
In actual fact, the candles provide the same information. Look at them rising towards the shooting star....each one a doji, indicating indecision, but with two of the candles indicating bearish tendencies (upper shadows and no lower ones).

Very interesting.

Holy moly!!... Interesting observations EV.

I took ALL my MAs off my chart after I saw your E/J post.

I think that MAs are perhaps no longer the crutch holding me up but, now that I am starting to walk on my own, are the crutch holding me back.

Minimalist all the way... It may even be possible to get rid of volume with the candle-analysis you gave there. Will muse over it.

Thinking of going to bars as well... *shock horror*...


Cheers EV,

Magnus
  • #3,528
  • Aug 19, 2009 8:31am Aug 19, 2009 8:31am
Quoting Yuppie



Thinking of going to bars as well... *shock horror*...

  • #3,529
  • Aug 19, 2009 8:35am Aug 19, 2009 8:35am
I haven't read anything by Vernon Coleman, but I have seen his stuff advertised in our leading broadsheet from time to time.
From what I can gather, the info he imparts will scare the living s**t out of me, so I don't think I'll bother, thanks.
I've enough to worry about.
  • #3,530
  • Aug 19, 2009 8:42am Aug 19, 2009 8:42am
Quoting Yuppie
Holy moly!!... Interesting observations EV.

I took ALL my MAs off my chart after I saw your E/J post.

I think that MAs are perhaps no longer the crutch holding me up but, now that I am starting to walk on my own, are the crutch holding me back.

Minimalist all the way... It may even be possible to get rid of volume with the candle-analysis you gave there. Will muse over it.

Thinking of going to bars as well... *shock horror*...


Cheers EV,

Magnus

I say - steady on old chap.....not even a single MA, no volume - well I may join you if I cant work it out better than I did yesterday.......but BARS.......that's like throwing the baby out with the bath water.....
Trading Levels with WRBs
  • #3,531
  • Aug 19, 2009 8:44am Aug 19, 2009 8:44am
Quoting eyevoltage
I haven't read anything by Vernon Coleman, but I have seen his stuff advertised in our leading broadsheet from time to time.
From what I can gather, the info he imparts will scare the living s**t out of me, so I don't think I'll bother, thanks.
I've enough to worry about.
Best to avoid then cos it really will scare. Not good for the heart either - made me even angrier. Maybe thats the plot. Scare people so they die earlier & gvmt doesnt have to fund the pensions & healthcare it cant afford.

Money Week doesnt cheer either but it gives a good account of reality. Glad I will be on hols in 10 days - will read novels to cheer up!
  • #3,532
  • Aug 19, 2009 8:48am Aug 19, 2009 8:48am
Quoting Islander
I say - steady on old chap.....not even a single MA, no volume - well I may join you if I cant work it out better than I did yesterday.......but BARS.......that's like throwing the baby out with the bath water.....
Gawd, we're all gonna run round naked!! Is this what trading does for one?

WTF.....let's gerrem off!!!!
  • #3,533
  • Aug 19, 2009 8:50am Aug 19, 2009 8:50am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Islander
I say - steady on old chap.....not even a single MA, no volume - well I may join you if I cant work it out better than I did yesterday.......but BARS.......that's like throwing the baby out with the bath water.....

You reckon?

They impart the same information don't they?... Just in a different 'look'... ??


Magnus
  • #3,534
  • Aug 19, 2009 8:56am Aug 19, 2009 8:56am
any ideas? Who said what? What did I miss?
GU & EU launch & oil DJ FTSE & Dax gapped up (oil by a 10 point scalp).

Huh?
  • #3,535
  • Edited 9:06am Aug 19, 2009 8:58am | Edited 9:06am
Quoting Yuppie
You reckon?

They impart the same information don't they?... Just in a different 'look'... ??


Magnus
Well I guess that EV will have something to say on this subject, but I think that bars are like size 6 stick bean models vs a nicely filled out size 12.....which one would you rather have - hypothetically of course.....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #3,536
  • Aug 19, 2009 9:02am Aug 19, 2009 9:02am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting Islander
Well I guess that EV will have something to say on this subject, but I think that bars are like size 6 stick bean models vs a nicely filled out size 12.....which one would rather have - hypothetically of course.....http://www.forexfactory.com/images/icons/icon12.gif

Both!... hypothetically, obviously...
  • #3,537
  • Aug 19, 2009 9:04am Aug 19, 2009 9:04am
Quoting Islander
Well I guess that EV will have something to say on this subject, but I think that bars are like size 6 stick bean models vs a nicely filled out size 12.....which one would rather have - hypothetically of course.....http://www.forexfactory.com/images/icons/icon12.gif
if we are all running around naked then doubt a size 6 will find us appealing either, assuming none of us is under-nourished.
  • #3,538
  • Aug 19, 2009 9:06am Aug 19, 2009 9:06am
Islander put it very aptly in my opinion.

Candlesticks have "visual impact", whereas bars (again, IMO) don't.

However, each to his own, old chap. One man's meat etc......
  • #3,539
  • Aug 19, 2009 9:13am Aug 19, 2009 9:13am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Yeah, definitely agree with the visual-impact.

Will probably stick with the candles just now - don't want to change too much.


Cheers,

Magnus
  • #3,540
  • Aug 19, 2009 9:18am Aug 19, 2009 9:18am
My plumpscious 5 min candles have some nice upside shadows / wicks at the 6450 level, these prompted me into a sell off that level with the promise of plentiful pips to be pirated......
Trading Levels with WRBs
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