Psych Levels, Pivots, and Trendlines - Resurrected | Page 181 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,601
  • Aug 21, 2009 12:29am Aug 21, 2009 12:29am
GM all - I've just sold the retrace to the 6450 level that was support yesterday afternoon.....T1 the 425 level, T2 6400....

Edit: it has to break the S1 / 435 support area first....patience
Trading Levels with WRBs
  • #3,602
  • Edited 1:00am Aug 21, 2009 12:54am | Edited 1:00am
Quoting Islander
GM all - I've just sold the retrace to the 6450 level that was support yesterday afternoon.....T1 the 425 level, T2 6400....

Edit: it has to break the S1 / 435 support area first....patience
This level caught us out the other day!!! It still seems to have significance as a long term S/R.

Check out movements in other currencies. All mirroring. Maybe need momentum to break thro & past 425.

Nice 5 min test bar up to 61 at 6.45, but still too much buying under 50. I'm waiting.
  • #3,603
  • Aug 21, 2009 1:03am Aug 21, 2009 1:03am
I've turned into a bear - here's why......huge selling around the 6500 level yesterday AND the 20 & 50 emas have crossed down....I added to my shorts in that little spike up - volumes were low.....
Attached Image (click to enlarge)
Click to Enlarge Name: aug 21 cable 60m fo.gif Size: 25 KB
Trading Levels with WRBs
  • #3,604
  • Aug 21, 2009 1:08am Aug 21, 2009 1:08am
Quoting Islander
I've turned into a bear - here's why......huge selling around the 6500 level yesterday AND the 20 & 50 emas have crossed down....I added to my shorts in that little spike up - volumes were low.....
Exited one part at the 635 level....
Trading Levels with WRBs
  • #3,605
  • Aug 21, 2009 1:12am Aug 21, 2009 1:12am
Quoting Islander
I've turned into a bear - here's why......huge selling around the 6500 level yesterday AND the 20 & 50 emas have crossed down....I added to my shorts in that little spike up - volumes were low.....
Very colourful chart. Good point too. Not going naked today then?

Currencies appeared to have bounced up to 50% from early highs. Interestingly (for me anyway) DJ & Oil also moved a lot in Asian & have bounced to 62%. However, I am waiting for a bit longer before shorting.
  • #3,606
  • Aug 21, 2009 1:28am Aug 21, 2009 1:28am
Mmmmh perfect inverse H+S on gu 5 min, IF it plays out target around 1.65??? Needs to break above 1.6460ish.
  • #3,607
  • Aug 21, 2009 1:29am Aug 21, 2009 1:29am
Quoting Barry Cade;297392<br /> 9
Very colourful chart. Good point too. Not going naked today then?

Currencies appeared to have bounced up to 50% from early highs. Interestingly (for me anyway) DJ & Oil also moved a lot in Asian & have bounced to 62%. However, I am waiting for a bit longer before shorting.

I've dropped vols on my lower TFs, but keeping them on 15 m and upwards.....that indy is a histogram of the volumes since 00:00 yesterday
Trading Levels with WRBs
  • #3,608
  • Aug 21, 2009 1:45am Aug 21, 2009 1:45am
Quoting Vantage
Mmmmh perfect inverse H+S on gu 5 min, IF it plays out target around 1.65??? Needs to break above 1.6460ish.
Yep - the 6450 / 60 area was good support yesterday, I'm still selling off it and banking pips....
Trading Levels with WRBs
  • #3,609
  • Aug 21, 2009 2:05am Aug 21, 2009 2:05am
Quoting Islander
I've dropped vols on my lower TFs, but keeping them on 15 m and upwards.....that indy is a histogram of the volumes since 00:00 yesterday

yes, I saw it on vsa a few days ago. Looks impressive at spotting s/r areas.

MUCH bigger vol (on 5 min). Interest at last. Looks like elephants may be selling. Still some more buying to wash out though
  • #3,610
  • Aug 21, 2009 2:13am Aug 21, 2009 2:13am
Missed entry at bottom of right shoulder, D S1 6436, had to wait for move and reject of 50 level. Got this entry and exit right on our target line 6492 which was area of lower wicks Asian session and near top of prev swing high. +37.

Turns out this exit looks pretty good.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu 1 min.gif Size: 11 KB
Click to Enlarge Name: gu 5 min.gif Size: 17 KB
  • #3,611
  • Aug 21, 2009 2:19am Aug 21, 2009 2:19am
Quoting Vantage
Missed entry at bottom of right shoulder, D S1 6436, had to wait for move and reject of 50 level. Got this entry and exit right on our target line 6492 which was area of lower wicks Asian session and near top of prev swing high. +37.

Turns out this exit looks pretty good.
Nice trade. I'm still bearish & have opened a trade & will open more if it pushes closer to 500.
  • #3,612
  • Aug 21, 2009 2:20am Aug 21, 2009 2:20am
Quoting Vantage
Mmmmh perfect inverse H+S on gu 5 min, IF it plays out target around 1.65??? Needs to break above 1.6460ish.
Nice catch V.....I dropped a few when my tight stop above the 50/60 area got hit.....LOL, I shouldn't fight the 30ema, just ride with it till the next resistance area....

Edit: No UK news today, but plenty of Euro data and cable's currently following it....
Trading Levels with WRBs
  • #3,613
  • Aug 21, 2009 2:21am Aug 21, 2009 2:21am
Quoting Barry Cade
Nice trade. I'm still bearish & have opened a trade & will open more if it pushes closer to 500.
Thanks its always nice when a call comes off.
  • #3,614
  • Aug 21, 2009 2:43am Aug 21, 2009 2:43am
Quoting Barry Cade
Nice trade. I'm still bearish & have opened a trade & will open more if it pushes closer to 500.
Theyve taken off so I'm not adding now until (or if) GU below 50. Will close trade above 500. Grrrr. Should have gone with the flow like V.
  • #3,615
  • Aug 21, 2009 3:05am Aug 21, 2009 3:05am
There's plenty of important levels in cable around the 6500 level - todays open at 503, the DP at 519 and the 525 level.....I'm watching the Euro as long as 4300 holds I'm selling cable in the 6500 area......this last € news was more in line with expectations, so lets see if we get pull backs....TWT
Trading Levels with WRBs
  • #3,616
  • Aug 21, 2009 4:01am Aug 21, 2009 4:01am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Evening Doji Star on EUR/JPY.

Not a great trade but small profit nonetheless.

Can I ask someone to post a spotFX (i.e. metatrader) chart of the same setup to compare.

This chart is a composite of the E/U and U/J futures. Would like to see the setup on spot.


Thanks,

Magnus
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-08-21-EURJPY_4.gif Size: 16 KB
  • #3,617
  • Aug 21, 2009 4:07am Aug 21, 2009 4:07am
Quoting Yuppie
Evening Doji Star on EUR/JPY.

Not a great trade but small profit nonetheless.

Can I ask someone to post a spotFX (i.e. metatrader) chart of the same setup to compare.

This chart is a composite of the E/U and U/J futures. Would like to see the setup on spot.


Thanks,

Magnus
Hope this helps........
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy056.gif Size: 21 KB
  • #3,618
  • Aug 21, 2009 4:17am Aug 21, 2009 4:17am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyevoltage
Hope this helps........
Yes it does, thanks EV.

Still looks like a viable signal on spot. Thought I maybe had jumped onto a random pattern produced by the composite chart.

Cheers.

Also, is that line at ~.25 the open for E/J?


Magnus
  • #3,619
  • Aug 21, 2009 4:18am Aug 21, 2009 4:18am
Quoting Yuppie
Also, is that line at ~.25 the open for E/J?


Magnus
Yes, that's correct, mate.
  • #3,620
  • Aug 21, 2009 4:23am Aug 21, 2009 4:23am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Quoting eyevoltage
Yes, that's correct, mate.
Thanks again EV.

Wouldn't normally take such a counter-trend trade, but after seeing you trading the same pattern a couple of days ago on the same pair - I thought I'd give it a punt...

(your trade was more with-trend though)
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