Psych Levels, Pivots, and Trendlines - Resurrected | Page 188 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,741
  • Sep 8, 2009 2:24am Sep 8, 2009 2:24am
text book trade eu

entry at yellow line. exit R2,15 pips
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  • #3,742
  • Sep 8, 2009 2:53am Sep 8, 2009 2:53am
another text book

short uj +35 pips
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  • #3,743
  • Sep 8, 2009 2:58am Sep 8, 2009 2:58am
reenter long EU
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  • #3,744
  • Sep 8, 2009 3:06am Sep 8, 2009 3:06am
long GU

enough for this day...
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  • #3,745
  • Sep 8, 2009 4:24am Sep 8, 2009 4:24am
Nice trading, mate.

Can I ask that you indicate your entry and exit points on the chart? Makes it a lot easier for us to see at a glance what you've been up to!
Thanks.
  • #3,746
  • Edited 5:27am Sep 8, 2009 5:24am | Edited 5:27am
Quoting eyevoltage
Nice trading, mate.

Can I ask that you indicate your entry and exit points on the chart? Makes it a lot easier for us to see at a glance what you've been up to!
Thanks.
hi EV

i just follow acumen rules :
price above pivot, buy
price below pivot, sell

once price hit psycho level, i will wait for retrace and entry several pips above previous high (buy), or previous low (sell)

entry and exit are yellow dot line, SL behind psycho level.
  • #3,747
  • Sep 8, 2009 6:06am Sep 8, 2009 6:06am
Quoting masut
hi EV

i just follow acumen rules :
price above pivot, buy
price below pivot, sell

once price hit psycho level, i will wait for retrace and entry several pips above previous high (buy), or previous low (sell)

entry and exit are yellow dot line, SL behind psycho level.
Yes, thanks for that, mate. I really should get my eyes tested!!
I look forward to more of your trades.
Cheers
  • #3,748
  • Sep 8, 2009 6:47am Sep 8, 2009 6:47am
This one just completed on 5m cable:

A hammer/engulfing candle just above the xx25 psych-line/R3 confluence and entry as shown. Exit as price started retreating after breaching the xx75 psych-line.
Attached Image
  • #3,749
  • Sep 8, 2009 1:47pm Sep 8, 2009 1:47pm
Quoting eyevoltage
This one just completed on 5m cable:

A hammer/engulfing candle just above the xx25 psych-line/R3 confluence and entry as shown. Exit as price started retreating after breaching the xx75 psych-line.
Nice trade (as usual), EV! It's always good to see your charts.

Quick question - was that not "Piercing Line" Hammer, rather than Engulfing?
One Chart is Worth Ten Thousand Words.
  • #3,750
  • Edited Sep 9, 2009 3:01am Sep 8, 2009 6:27pm | Edited Sep 9, 2009 3:01am
Quoting Forex007
Nice trade (as usual), EV! It's always good to see your charts.

Quick question - was that not "Piercing Line" Hammer, rather than Engulfing?
First, there was the red long-legged doji. Following that was a green hammer type candle. The body was probably slightly too big to be a "true" hammer, but it was a nice pin-bar, nevertheless. The BODY of said pin-bar also totally engulfed the BODY of the doji (shadows don't count), so in actual fact, you had two potential reversal signals in one.
Hope that explains things, mate.
  • #3,751
  • Sep 9, 2009 3:20am Sep 9, 2009 3:20am
GM all - I've had some spare time this morning, so I'm posting my trades - those with the magenta cross.....

The first green tick was at a Higher Low and when I got to my screen price was already being supported by the then rising 30 ema - so a confirmed buy which I exited in the wider range push up thru the 6550 level just after FO - the white time line.

The higher volume green graveyard diji was a great heads up for a sell which I took as soon as the next tweezers type candle turned red, TP just above the 6500 level.

I then waited for the retrace and sold at the 30 ema with TP just above the 6475 level.

I'm now short again after the small red spinning top and am now waiting to if the magenta DP level at 6483 breaks......IF it does I'll look to exit at either the 6450 or 425 area, depending on PA at the time.....
Attached Image (click to enlarge)
Click to Enlarge Name: sep 9 cable 5m 0800 gmt.gif Size: 19 KB
Trading Levels with WRBs
  • #3,752
  • Sep 9, 2009 3:48am Sep 9, 2009 3:48am
Quoting Islander
GM all - I've had some spare time this morning, so I'm posting my trades - those with the magenta cross.....

The first green tick was at a Higher Low and when I got to my screen price was already being supported by the then rising 30 ema - so a confirmed buy which I exited in the wider range push up thru the 6550 level just after FO - the white time line.

The higher volume green graveyard diji was a great heads up for a sell which I took as soon as the next tweezers type candle turned red, TP just above the 6500 level.

I then waited for the...
well it did break and I exited at 458 when it stalled......now short again off the gold today's open level......smaller size with a tight stop as the 15 min chart had a high vol hammer, so we might get a bigger bounce.....TWT
Trading Levels with WRBs
  • #3,753
  • Sep 9, 2009 3:50am Sep 9, 2009 3:50am
EV,Islander, Vantage!
I read this thread, but have a Q:
Which lines xx00, xx50,xx20, xx80, xx75, xx25 are the Psych levels for You?
It seems to Me too much, now.
Any advice how to approach this problem?
THX, NL
  • #3,754
  • Sep 9, 2009 4:01am Sep 9, 2009 4:01am
Quoting Islander
well it did break and I exited at 458 when it stalled......now short again off the gold today's open level......smaller size with a tight stop as the 15 min chart had a high vol hammer, so we might get a bigger bounce.....TWT

On looking at my 15 min chart I noticed that the low was a high volume hammer - i.e profit taking / buying coming in, so I closed for a small profit. Time for a break - I'll wait for the early NY session before taking any more trades......http://www.forexfactory.com/images/icons/icon6.gif
Trading Levels with WRBs
  • #3,755
  • Sep 9, 2009 4:37am Sep 9, 2009 4:37am
Hi all,

this is an interesting thread to me. Just arrived and started to read. I like the idea of these Psych levels, I believe that something happens at round numbers and fibo levels more often than not.

I look forward to read more about this stuff.

Happy trading!
Kind Regards zol
  • #3,756
  • Sep 9, 2009 5:51am Sep 9, 2009 5:51am
Quoting lacika
EV,Islander, Vantage!
I read this thread, but have a Q:
Which lines xx00, xx50,xx20, xx80, xx75, xx25 are the Psych levels for You?
It seems to Me too much, now.
Any advice how to approach this problem?
THX, NL
Always use the xx00 and the xx50 lines, which are the main ones. Then experiment with the others, taking into account which currency pairs you're watching. See what seems to work best etc.
Good luck!
  • #3,757
  • Sep 9, 2009 7:37am Sep 9, 2009 7:37am
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Chart below of my first currency trade in a few weeks... a quick disclaimer though...

stu·pid adj. stu·pid·er, stu·pid·est 1. Slow to learn or understand; obtuse.
2. Tending to make poor decisions or careless mistakes.
3. Marked by a lack of intelligence or care; foolish or careless: a stupid mistake.
4. Dazed, stunned, or stupefied.
5. Pointless; worthless: a stupid job.

n. A stupid or foolish person.
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  • #3,758
  • Sep 9, 2009 7:49am Sep 9, 2009 7:49am
Long EU 30 pips
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  • #3,759
  • Sep 9, 2009 7:51am Sep 9, 2009 7:51am
GU again, 30 pips
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  • #3,760
  • Sep 9, 2009 7:54am Sep 9, 2009 7:54am
Quoting Yuppie
Chart below of my first currency trade in a few weeks... a quick disclaimer though...

stu·pid adj. stu·pid·er, stu·pid·est 1. Slow to learn or understand; obtuse.
2. Tending to make poor decisions or careless mistakes.
3. Marked by a lack of intelligence or care; foolish or careless: a stupid mistake.
4. Dazed, stunned, or stupefied.
5. Pointless; worthless: a stupid job.

n. A stupid or foolish person.
What prompted you to go short, mate?
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