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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,681
  • Aug 26, 2009 8:36am Aug 26, 2009 8:36am
Quoting Vantage
Looks like we are going to hit M S1 at 6218, I'm bursting to exit from sells 6312!!
Now out at +125 have visitors and I don't want this one pulling back, cheers. Will post later on hl/lh thread.

Darn just falling again c'est la vie.
  • #3,682
  • Aug 26, 2009 9:26am Aug 26, 2009 9:26am
Trades from today, hl's and lh's in and around key levels. I'll post the scm4 scalper that is showing the arrows in the hl, lh thread. I'm NOT using that to trade off but it does give an audible alert and gives some good heads up that a trade may be coming that is a hl/lh.

Trade today ran a little longer, Mrs V who is a strict bank them pips was tied up so I got a little more room to move than would normally be the case. Oh Frankies hour and before we'll still look to get in and out quickly.
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  • #3,683
  • Aug 26, 2009 10:26am Aug 26, 2009 10:26am
Quoting Vantage
Trades from today, hl's and lh's in and around key levels. I'll post the scm4 scalper that is showing the arrows in the hl, lh thread. I'm NOT using that to trade off but it does give an audible alert and gives some good heads up that a trade may be coming that is a hl/lh.

Trade today ran a little longer, Mrs V who is a strict bank them pips was tied up so I got a little more room to move than would normally be the case. Oh Frankies hour and before we'll still look to get in and out quickly.
I had to go out so missed 2nd part of the move down. Having said that I didnt think it would go this far. Many congrats on a gr8 trade. Surprised you held on thro psychs. What was it in your reading of the market that convinced you it was going this far? I REALLY need to learn.

Moves in last couple of days tended to be stop go 25ers & daily ranges small. The news item didnt seem a big issue to me, but then again who am I to predict sentiment?
  • #3,684
  • Aug 26, 2009 10:33am Aug 26, 2009 10:33am
Quoting Vantage
Trades from today, hl's and lh's in and around key levels. I'll post the scm4 scalper that is showing the arrows in the hl, lh thread. I'm NOT using that to trade off but it does give an audible alert and gives some good heads up that a trade may be coming that is a hl/lh.
scm4 looks handy. I need an audible alert too.
I may need to understand more about the positions of arrows for hl lh as they seem offset.

After a lot of ballache with local & dest time offsets (cant figure out what they actually mean) I seem to have pp settings that now suit the platform. Hopefully I can now reduce the visual "noise" of all lines & actually rely on one.

Many thx for continued help.
  • #3,685
  • Aug 26, 2009 10:59am Aug 26, 2009 10:59am
Guys. Im sure youre not interested in oil. However from my point of view the many ideas Ive learned on this thread are also of prime importance & could interest you.

Oil spiked on the inventory news. Forget that as it was a big dog 100 point sweep. It bounced off MS1 & came down all the way. Oil is risky so I dont trade too often & is why I needed accurate indicators!

Anyway. Of greater interest to you may be the loonie. Today is the 1st time Ive looked at it with the eyes of this thread. Against the usd at exactly news release ie 3.30 it bounced off pivot up to next pivot for an F1 rapid pit stop & up again. 60 points. No big dog games - usdcad went up as it should have as more reserves means lower prices & bad for loonie.

Worth checking out every Wednesday
  • #3,686
  • Aug 26, 2009 11:19am Aug 26, 2009 11:19am
The "psych" 20 held once more.
Out at 32...
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Don´t live for working, but work for living.
  • #3,687
  • Aug 26, 2009 11:57am Aug 26, 2009 11:57am
Quoting matsf
The "psych" 20 held once more.
Out at 32...
also good to see that double peak at 6241 is 76% fib from high at 13.35. Could have traded from hanging man at 16.25 & made 30+. Wish I had been watching screens.
  • #3,688
  • Aug 26, 2009 1:25pm Aug 26, 2009 1:25pm
Quoting Barry Cade
I had to go out so missed 2nd part of the move down. Having said that I didnt think it would go this far. Many congrats on a gr8 trade. Surprised you held on thro psychs. What was it in your reading of the market that convinced you it was going this far? I REALLY need to learn.

Moves in last couple of days tended to be stop go 25ers & daily ranges small. The news item didnt seem a big issue to me, but then again who am I to predict sentiment?

  1. Mrs V absent a little more room to move, but mainly:
  2. As I posted earlier with the daily chart a break below W S1 6312 would see pivot target of 6216. When there were 2 relatively weak bounces from a VERY, VERY (Foo Fighters Learn to Fly playing over our cable tv's alternative rock channel - love it, love it) VERY tough level that had been supported for over a month it HAD to then go. The last bounce hardly made it above 6312. When you have only a small bounce say 20-40 pips from a MAJOR support area then somethings gonna give big.
  3. After that it was moving stops to just above top of last bounce.

Not that long ago, a week or so, I made a very similar trade posted in vsa thread. Small bounce that fails from PROVEN supp/res area is a good trade.

Last bounce only made it to 6328, NB this from key level supported for over a month!!

  • #3,689
  • Aug 26, 2009 1:29pm Aug 26, 2009 1:29pm
Quoting Barry Cade
scm4 looks handy. I need an audible alert too.
I may need to understand more about the positions of arrows for hl lh as they seem offset.

After a lot of ballache with local & dest time offsets (cant figure out what they actually mean) I seem to have pp settings that now suit the platform. Hopefully I can now reduce the visual "noise" of all lines & actually rely on one.

Many thx for continued help.
They don't signal hl/lh's but they are close enough to get me interested if I'm on phone, making tea etc etc if I get signal thats not a hl/lh I'll wait and consider.
  • #3,690
  • Aug 27, 2009 2:10pm Aug 27, 2009 2:10pm
Hi Guys.....just back home in time to pirate a few pips in the last part of the rally over a nice glass of Rioja.....it seemed rude not too.........I've no idea what started this move, but by just focusing on the Sweet Spots and the PA around them AND going with the flow there were plenty of pips to be plundered......I'd have been VERY happy with half of what I've shown......the red and green bands were obvious S/R and the grey not so obvious....somehow the 6200 level didnt seem so important
FYI, the dashed outer bands are my first level for OB / OS conditions....rather good ones today, especially when in confluence with "a level"
Cheers
Islander
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Trading Levels with WRBs
  • #3,691
  • Aug 27, 2009 6:15pm Aug 27, 2009 6:15pm
Quoting eyevoltage
Fx1........Where've you been, man? Oh yeah, I forgot for a minute.....you got a new job, is that right?
.. Something like that.


Quoting eyevoltage
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.
Thanks EV. I hope things are going well on your end too.
Life is a journey... So is trading.
  • #3,692
  • Aug 28, 2009 1:10am Aug 28, 2009 1:10am
Quoting Islander
Hi Guys.....just back home in time to pirate a few pips in the last part of the rally over a nice glass of Rioja.....it seemed rude not too.........I've no idea what started this move, but by just focusing on the Sweet Spots and the PA around them AND going with the flow there were plenty of pips to be plundered......I'd have been VERY happy with half of what I've shown......the red and green bands were obvious S/R and the grey not so obvious....somehow the 6200 level didnt seem so important
FYI, the dashed outer bands are my first level for OB...
another good bit of pirating. Im still trying to understand move but guess its wiped out a lot of s/l's.
16200 had been pushed thro lots during day so was pretty redundant.

'scuse my lack of knowledge on this but what is OB/OS, & how have you set these bollys?
  • #3,693
  • Aug 28, 2009 2:50am Aug 28, 2009 2:50am
Quoting Barry Cade
another good bit of pirating. Im still trying to understand move but guess its wiped out a lot of s/l's.
16200 had been pushed thro lots during day so was pretty redundant.

'scuse my lack of knowledge on this but what is OB/OS, & how have you set these bollys?
Hi - change of plans so got a couple of hours free.....I found this explaination of what triggered that move.....
Friday, August 28, 2009

EUR/USD back at previous line.


The EUR/USD shot up a fair bit hours ago.

As mentioned, it is near the end of the trading week and one should expect the unexpected.

What caused the big move exactly?

A rebound of oil due to rejection of the $70 mark.

Increased positive sentiments resulting in stocks gaining and lesser demand for US treasuries.


you can read more in thegeekknows . com

OB = OverBought - so guess what OS means....

The bands are just +/- 75 levels off the 30ema, I dont use Bolly's - they confuse me

The was a nice 5 min shooting star at the high during Frankies Hour - confluence with yesterdays high and 6300 level............now we're back to Freaky Friday chop and waiting for UK data
Trading Levels with WRBs
  • #3,694
  • Aug 28, 2009 3:11am Aug 28, 2009 3:11am
Quoting Islander
Hi - change of plans so got a couple of hours free.....I found this explaination of what triggered that move.....
Friday, August 28, 2009

EUR/USD back at previous line.


[i]The EUR/USD shot up a fair bit hours ago.

As mentioned, it is near the end of the trading week and one should expect the unexpected.

What caused the big move exactly?

[font=verdana]A rebound of oil due to rejection...
Thx for info. I also found a similar explanation. Still wondering if US gvmt pumped buying of oil so stocks would rise & make it look like they are exiting recession. 300 pips seems an enormous move just to reject $70. Anyway, move on.

Thx for clarifying what is now the inverse of OB, the BO "Bleedin' Obvious"

Bollys can be useful Ive found on some commodities, esp silver as it always retraces to back inside. Similar ob/os really.

Was tempted by s star but large amount of buying in prev 2 bars just below 300 put me off.

You are right (as usual). Freaky Fri. I may close off early, esp as going on hols to Miami tomorrow. Feeling chilled already.
  • #3,695
  • Aug 28, 2009 3:16am Aug 28, 2009 3:16am
Islander - Thx for link. I will read more. As demand for Treasuries down it perhaps proves my suspicion of US price support may be wrong.

Interestingly the move up last night topped at 76% fib from prev high 26Aug & 300 confluence.
  • #3,696
  • Aug 28, 2009 3:53am Aug 28, 2009 3:53am
Quoting Barry Cade
Thx for info. I also found a similar explanation. Still wondering if US gvmt pumped buying of oil so stocks would rise & make it look like they are exiting recession. 300 pips seems an enormous move just to reject $70. Anyway, move on.

Thx for clarifying what is now the inverse of OB, the BO "Bleedin' Obvious"

Bollys can be useful Ive found on some commodities, esp silver as it always retraces to back inside. Similar ob/os really.

Was tempted by s star but large amount of buying in prev 2 bars just below 300 put me off.

You are right...
I hope you have a great time - I spent 4 months just up the road in Fort Lauderdale - loads going on in those areas...http://www.forexfactory.com/images/icons/icon6.gif

BTW - nice 15m shooting star off the next level - and so helpful that they spiked it up after the news for a retest......then right back to the MR1 level..... http://www.forexfactory.com/images/icons/icon12.gif
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  • #3,697
  • Aug 28, 2009 4:02am Aug 28, 2009 4:02am
Quoting Islander
I hope you have a great time - I spent 4 months just up the road in Fort Lauderdale - loads going on in those areas...http://www.forexfactory.com/images/icons/icon6.gif

BTW - nice 15m shooting star off the next level - and so helpful that they spiked it up after the news for a retest......then right back to the MR1 level..... http://www.forexfactory.com/images/icons/icon12.gif
not keen on going against trend. 5m inverted hammer down bar low vol at 9.45 back up to 25.
  • #3,698
  • Aug 28, 2009 4:34am Aug 28, 2009 4:34am
Quoting Barry Cade
not keen on going against trend. 5m inverted hammer down bar low vol at 9.45 back up to 25.
Ah - I didnt also mention that that red spinning top over the news period also spiked down to the rising 5m 30 ema - a rather nice buy signal......http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #3,699
  • Aug 28, 2009 5:14am Aug 28, 2009 5:14am
Quoting Islander
Ah - I didnt also mention that that red spinning top over the news period also spiked down to the rising 5m 30 ema - a rather nice buy signal......http://www.forexfactory.com/images/icons/icon12.gif
Hello Islander, I respect your knowledge........

Can you explain why buy signal? Sell signal makes me more sense - shooting star (it will be better with read body), near R1...... and drop to MR1.


Thank you for answer

be good

pipgame
  • #3,700
  • Aug 28, 2009 5:29am Aug 28, 2009 5:29am
Quoting pipgame
Hello Islander, I respect your knowledge........

Can you explain why buy signal? Sell signal makes me more sense - shooting star (it will be better with read body), near R1...... and drop to MR1.


Thank you for answer

be good

pipgame
LOL - I guess that it can be rather confusing if you're not used to the way I post.......whilst I posted a 15 min chart, I was actually trading off the 1 min chart which is what I always do around FO / LO and news times.

Also, I respect the trend as defined by the 5m 30ema, so any contra trend trade is on smaller volume....here's a post I made in a 1 min thread....I hope this helps.....

Cable 1 min chart
Here's a nice simple trade......cable was IMO being dragged up by the rising € / falling $ - aka Swissy......as soon as € put in a lower high I took this sell - small size as its against the rising 150 ema (doger blue) - nice tight stop above the R1 pivot and TP in the old resistance zone

A retrace into a lower high and I'll do it again......http://www.forexfactory.com/images/icons/icon12.gif
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1251453148
Trading Levels with WRBs
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