Psych Levels, Pivots, and Trendlines - Resurrected | Page 193 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #3,841
  • Sep 15, 2009 12:28am Sep 15, 2009 12:28am
Quoting eyevoltage
Take heart, mate. If you finally manage to master that, then you'll be one up on any politician in the world!

(And probably 10 up on the clowns we have in THIS country!)

thx for the humour EV. You knew this analogy would appeal to me!
  • #3,842
  • Sep 15, 2009 12:39am Sep 15, 2009 12:39am
Sold 6641 failure of 5 level after 2 shooting stars. I wanted target of 6600 but Mrs V has her finger on the button exited at +24.

Mrs V thinks the 3 most important words in trading are bank, bank, bank. Goodness knows i'm going to have to beat that out of her.
Attached Image
  • #3,843
  • Sep 15, 2009 1:12am Sep 15, 2009 1:12am
Quoting Vantage
Sold 6641 failure of 5 level after 2 shooting stars. I wanted target of 6600 but Mrs V has her finger on the button exited at +24.

Mrs V thinks the 3 most important words in trading are bank, bank, bank. Goodness knows i'm going to have to beat that out of her.
Banks buggered up the world so she shouldnt trust them!
Best you invest in a screen & separate account for Mrs V!
Try logging all the extra pips you would have made, or get her to change s/l rather than close trade!
  • #3,844
  • Sep 15, 2009 1:32am Sep 15, 2009 1:32am
reenter long GU

take TP1, set SL to BE
Attached Image
  • #3,845
  • Sep 15, 2009 1:36am Sep 15, 2009 1:36am
Quoting masut
reenter long GU

take TP1, set SL to BE
ups... TP hit by news.
  • #3,846
  • Sep 15, 2009 2:57am Sep 15, 2009 2:57am
What happen next?

I hope it's nice long opportunity. Price above pivot and confluence with ascending trendline.
Attached Image
  • #3,847
  • Sep 15, 2009 3:16am Sep 15, 2009 3:16am
Quoting masut
What happen next?

I hope it's nice long opportunity. Price above pivot and confluence with ascending trendline.
To be devils advocate, also be aware that daily & weekly channels in UJ are down, so make sure signals are strong before trading. 1 hr channel is up, would be worth plotting fib levels over these.

Im not closely watching this currency but interested in your observations & trading.
  • #3,848
  • Sep 15, 2009 3:44am Sep 15, 2009 3:44am
Quoting masut
What happen next?

I hope it's nice long opportunity. Price above pivot and confluence with ascending trendline.
manual closed 14 pips
  • #3,849
  • Sep 15, 2009 3:47am Sep 15, 2009 3:47am
Quoting Barry Cade
To be devils advocate, also be aware that daily & weekly channels in UJ are down, so make sure signals are strong before trading. 1 hr channel is up, would be worth plotting fib levels over these.

Im not closely watching this currency but interested in your observations & trading.
Thanks BC

It's just countertrend, but usually UJ pair i take profit only 10-15pips
  • #3,850
  • Sep 15, 2009 11:56pm Sep 15, 2009 11:56pm
GM all - on Monday night we had the first of our autumn storms and it was a BIG one, so I was off line till late yesterday and missed that great sell off that beautiful double top after the UK news - great doji and then a shooting star on the 15 min.

I put on a sell late yesterday at the 6500 level after it stalled there in the US afternoon and made some pips overnight when it hit the 450 level - so that somewhat made up for missing the day http://www.forexfactory.com/images/icons/icon7.gif

Two trades so far this morning, first the buy off the higher low just before FO - the high volume hammer was the heads up and then the HL gave a nice entry just under the 450 level and I put my TP under the 75 level.

I then took the Lower High after the shooting starish candle and banked a few more pips as it retraced back to the 30 ema.

With Euro trying to make new highs for this move and the Swissy new lows I'm keeping a close watch on their actions http://www.forexfactory.com/images/icons/icon12.gif - now flat for LO
Trading Levels with WRBs
  • #3,851
  • Sep 16, 2009 12:27am Sep 16, 2009 12:27am
I took a small short in the spike up to the 6500 level - whilst € has managed to struggle up to a new high at its 4700 level, Swissy has not yet made new lows, so I'm happy to have a small short with a tight stop.

Edit: - remember that cable is ~200 pips OFF its high of 6740 last Friday morning....
Trading Levels with WRBs
  • #3,852
  • Sep 16, 2009 12:49am Sep 16, 2009 12:49am
My current chart - 30 ema now shows upward slope in blue and downward in violet.....the sell arrow with the grey circle wasnt actually traded as I was asleep - but another good signal off "a level"!

I've just closed the short as posted above off the spike up to the 6500 level as price has stalled in the 6460 area - the low in Frankies Hour
Attached Image (click to enlarge)
Click to Enlarge Name: sep 16 cable 5m 0740 gmt.gif Size: 21 KB
Trading Levels with WRBs
  • #3,853
  • Sep 16, 2009 12:51am Sep 16, 2009 12:51am
Like islander, i just short below 6500, pinbar there.

Still running 20pips, move SL to BE
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  • #3,854
  • Sep 16, 2009 12:56am Sep 16, 2009 12:56am
Another short UJ

Price break psycho level 90.50, retrace and pullback. Another textbook trade for me.
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  • #3,855
  • Sep 16, 2009 1:15am Sep 16, 2009 1:15am
Nice trading masut - could you please post your pivot indicator, I'd like to try it on some of my charts
Trading Levels with WRBs
  • #3,856
  • Sep 16, 2009 1:16am Sep 16, 2009 1:16am
hey guys i had this question for all of u who trade pivots do u really follow the principle if price is below the central pivot then short and vice versa if above central pivot?
  • #3,857
  • Sep 16, 2009 1:21am Sep 16, 2009 1:21am
Quoting Islander
Nice trading masut - could you please post your pivot indicator, I'd like to try it on some of my charts
Having a pivot indi that doesnt overwrite previous days pivots would be very useful. Thx
  • #3,858
  • Sep 16, 2009 1:24am Sep 16, 2009 1:24am
Quoting bksujal
hey guys i had this question for all of u who trade pivots do u really follow the principle if price is below the central pivot then short and vice versa if above central pivot?
Take a look thro the thread. Some do, some dont. Safer to do so, but if signals are strong then as you will see, traders here are REALLY good & will trade countertrend.
  • #3,859
  • Sep 16, 2009 1:29am Sep 16, 2009 1:29am
Quoting Islander
Nice trading masut - could you please post your pivot indicator, I'd like to try it on some of my charts
This indi from acumen.
Attached File(s)
File Type: ex4 FXI Pivots.ex4   25 KB | 381 downloads
  • #3,860
  • Sep 16, 2009 1:30am Sep 16, 2009 1:30am
Quoting masut
This indi from acumen.
hey masut thnx for posting i was looking for tht. Am gonna start rading with pivots seeing how successful a tool it is for many traders.
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