Psych Levels, Pivots, and Trendlines - Resurrected | Page 183 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,641
  • Aug 23, 2009 11:48pm Aug 23, 2009 11:48pm
Quoting Vantage
Sorry can't help on oil never traded it.

Uses calender week/month.
I should have been clearer. It was the usefulness on currencies that I was interested in. I was only stating oil as that was the only experience that I had of a weekly pp.

How useful on currencies?
  • #3,642
  • Aug 23, 2009 11:52pm Aug 23, 2009 11:52pm
Quoting Barry Cade
I should have been clearer. It was the usefulness on currencies that I was interested in. I was only stating oil as that was the only experience that I had of a weekly pp.

How useful on currencies?
Weekly + monthly pivots for gu, ej and eu .
  • #3,643
  • Aug 23, 2009 11:54pm Aug 23, 2009 11:54pm
Quoting Vantage
Just that the pivot indi has pivots (daah), t's open and prev days high/low, fibs on y's range all 'in one' indi. Both gu and ej love fibs based on y's range from my experience.

Also as you can change the pivot start time it doesn't matter when your platform starts its day, thats vital for trading UK session.
Thats good info.
Dont think Ive seen this indi before, can you pls post?
  • #3,644
  • Aug 23, 2009 11:58pm Aug 23, 2009 11:58pm
Quoting Barry Cade
Thats good info.
Dont think Ive seen this indi before, can you pls post?
Posted 21 Aug, see the attachments to thread that has all of them listed. Look for both pivots and pivots multitime frame.
  • #3,645
  • Aug 24, 2009 12:03am Aug 24, 2009 12:03am
Quoting Vantage
Posted 21 Aug, see the attachments to thread that has all of them listed. Look for both pivots and pivots multitime frame.
didnt realise it was that one. Assumed it was different name ie pivots1.
  • #3,646
  • Aug 24, 2009 12:05am Aug 24, 2009 12:05am
Quoting Vantage
Weekly + monthly pivots for gu, ej and eu .
. My first smile of the day. Quite early for a Monday.
  • #3,647
  • Aug 24, 2009 12:20am Aug 24, 2009 12:20am
And just to prove a point, ej has D M3 and W M3 right on the same number but after a 70 odd pip fall I couldn't see any other reason on charts to put the brakes on and turn at 135.33.
Attached Image
  • #3,648
  • Aug 24, 2009 12:35am Aug 24, 2009 12:35am
GU at 8.05 high vol. Next bar high vol up. Next bar bounced up off 50. Bit contraflow so having got burned twice last week on these I didnt take. However I suspect Islander would have nabbed 15-20 with it. Just hit 75.

Anyone else take this?

87 is also a POC from Friday (according to the vol indi that Islander showed last week & which I am using today for 1st time). Lets see if it bounces back down from here.
  • #3,649
  • Aug 24, 2009 12:48am Aug 24, 2009 12:48am
Quoting Vantage
And just to prove a point, ej has D M3 and W M3 right on the same number but after a 70 odd pip fall I couldn't see any other reason on charts to put the brakes on and turn at 135.33.
The last selling bar also closed & next buying bar opened at daily open. Then bounced down off 51 before penetrating & rising to 75.

Looked like a good trading opp. Does EJ work to same psych levels?
  • #3,650
  • Edited 2:16am Aug 24, 2009 1:50am | Edited 2:16am
Quoting Barry Cade
GU at 8.05 high vol. Next bar high vol up. Next bar bounced up off 50. Bit contraflow so having got burned twice last week on these I didnt take. However I suspect Islander would have nabbed 15-20 with it. Just hit 75.

Anyone else take this?

87 is also a POC from Friday (according to the vol indi that Islander showed last week & which I am using today for 1st time). Lets see if it bounces back down from here.
I did 2, a small loss and a small profit.
Attached Images
  • #3,651
  • Edited 2:18am Aug 24, 2009 1:51am | Edited 2:18am
Quoting Barry Cade
Does EJ work to same psych levels?
Sometimes but no not like gu does. EJ does like the prev days high/low and as mentioned the fibs based on y's range.
  • #3,652
  • Edited 3:10am Aug 24, 2009 2:39am | Edited 3:10am
was trading within a pennant on 5m until 9.55. Breakout above may be change of direction as 1hr from 8.00 altho a selling bar contained lots of buying. 9.00 bar also buying, both on v high vol for this time of day, & 10.00 was a sort of hammer.

However lots of possible retraces as prev highs, 38% fib at 479 and 50% at 492 (& 76 at 491) & days open at 501 & 62% at 505. As Im typing its just pushed thro. Also DP at 508 to 516 depending on system

Lets see if it bounces back down off these to create a buy.

EU also bashing up against DP. Maybe if EU breaks thro it will drag GU thro?
  • #3,653
  • Aug 24, 2009 7:19am Aug 24, 2009 7:19am
I've not been very active this morning, but I've been monitoring the situation on GU and EJ on and off all day.
Finally had the time to sit and relax and actually DO something and saw this opportunity forming on cable. A rare fib trade for me, and it was the dragonfly doji forming on top of the pull-back that made me sit up and take notice. Entry and exit as indicated.
Attached Image
  • #3,654
  • Aug 24, 2009 7:35am Aug 24, 2009 7:35am
It is so nice to have a week off to have time for some trading.
During the consolidation after the first downmove.
s/r-trading.
Exit after the bounce to 50.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 18 KB
Donīt live for working, but work for living.
  • #3,655
  • Aug 24, 2009 7:39am Aug 24, 2009 7:39am
Quoting eyevoltage
I've not been very active this morning, but I've been monitoring the situation on GU and EJ on and off all day.
Finally had the time to sit and relax and actually DO something and saw this opportunity forming on cable. A rare fib trade for me, and it was the dragonfly doji forming on top of the pull-back that made me sit up and take notice. Entry and exit as indicated.
Hi EV! Looks like you're as sharp as always. It's been a while. I was just about to call it a day, but decided to visit this great thread. Looks like there's been a quite a few new ideas being discussed.
Life is a journey... So is trading.
  • #3,656
  • Aug 24, 2009 7:42am Aug 24, 2009 7:42am
Quoting eyevoltage
I've not been very active this morning, but I've been monitoring the situation on GU and EJ on and off all day.
Finally had the time to sit and relax and actually DO something and saw this opportunity forming on cable. A rare fib trade for me, and it was the dragonfly doji forming on top of the pull-back that made me sit up and take notice. Entry and exit as indicated.
As usual, great timing! Star! You havent missed anything elsewhere as far as I can see. Its been like the proverbial paint drying, so Ive been doing marginally less boring spreadsheet guff.

Did you sell again after the hammer at 15.25? I was uncertain because of prev daily low. Missed it. Also beyond 425 psych is now Fridays low at 418
  • #3,657
  • Aug 24, 2009 8:00am Aug 24, 2009 8:00am
On the 15m at 14.45 the spinning top was on high vol, much greater than prev selling bar. Next bar similar range but slightly wider open & close selling bar on less vol before giving way on subsequent bar.

Is the spinning top on high vol likely to be big dogs changing position?
  • #3,658
  • Aug 24, 2009 11:03am Aug 24, 2009 11:03am
Matsf........great to see you again, my friend, and it's good to see you're as sharp as ever with those lines! By the way, I hope all is ok at your place of work now? Enjoy your holiday, mate.

Fx1........Where've you been, man? Oh yeah, I forgot for a minute.....you got a new job, is that right? I've been wondering if we'd see you again on this thread. Thanks for dropping by, mate, and I hope things are going well for you.

Barry......No, I didn't sell again after that little bit of consolidation, because I'd already gone again!! I've been really busy today, what with one thing or another, so trading has been strictly at a premium, I'm afraid. That was a lovely opportunity, though, mate. A little retrace to the MS1/xx50 confluence, a short breather and then down it went again! Luvvly jubbly!
Still, that little fib trade was very nice, and I really should keep a weather eye out for them, because they seem to crop up all day long!
Cheers
  • #3,659
  • Aug 25, 2009 5:26am Aug 25, 2009 5:26am
Afternoon, folks....

Totally dead on this thread today, so I thought I'd post this nice trade that I've just finished. My only trade of the day so far, I might add, seeing as, once again, I've been busy with other things.

A Bullish Flag formed right on the S1/xx75 confluence, and after my entry, I looked to the xx00 line to exit. However, the price rise proved to be pretty robust, even taking in account the small spinning-top, which I looked upon as a sort of "micro" consolidation! As can be seen, my exit was after price had twice tested the MS1 line.
Attached Image
  • #3,660
  • Aug 25, 2009 5:39am Aug 25, 2009 5:39am
Quoting eyevoltage
Afternoon, folks....

Totally dead on this thread today, so I thought I'd post this nice trade that I've just finished.
Sorry, first trade of day from Pre Frankies hour. On 1hr I had the last 2 candles where gu had turned, in addition to the resis levels shown this was a classic psych level 'Islander' trade.

Trade 1. From 5 min chart we had high vol push up, then vol fell off 3 small shooting stars, took trade from 1 min chart shown.

Trade 2 was also nice, got in at 6395 when there was a push up after the 1st shooting star to 6400 which failed..

Trade 3 out BE.

Trade 4 small win.

Methinks shooting stars are nice!!

Didn't trade the massive shooting star that closed on 6350 as it was too big.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu 1 - b.gif Size: 17 KB
Click to Enlarge Name: gu 5 min.gif Size: 26 KB
Click to Enlarge Name: gu 1.gif Size: 8 KB
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