"Active Workspace" means taking a picture of the whole chart, including all toolbars etc. Everything YOU see, your eager public will see!!
My sincere apologies to other thread users for the off-topic info.
Psych Levels, Pivots, and Trendlines - Resurrected
- #3,922
- Sep 17, 2009 9:14am Sep 17, 2009 9:14am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Same case like EU
long GU after rebound PP and psycho level 6500
Good win on EU. Again I was being defensive as most of yesterdays volume at 4710 & this is usually a resistance point. M3 pivot at 722 and also close to 50% fib for the day.
Well done M
- #3,928
- Sep 17, 2009 9:44am Sep 17, 2009 9:44am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Ive just tried saving your notes & image into Word (hope you dont have copyright!!!). The image is playing up & wont open. Maybe forum prob related to too much activity for their server (it now keeps locking up at news times).
Copyright? Hell, no!! All property is theft. (That's what all our Socialist/Commie retards think, isn't it?)
interesting on GU. 1 hr rising channel that I referred to yesterday is now at 6487. Daily rising channel still repelling at 6471. Now we have 5 min channel. Low was breached at 1.30 is, & now acting as resistance. Currently at 6518.
However with psych 500 between, unless £ has an enema & suddenly falls thro, we may be sideways for a while & have little to trade, unless bouncing down from trend line to raid 15-20 pips. TWT (is that the right phrase?)
Intersting (to me anyway) - I repositioned trend line to body of 9.35 bear bar rather than tip & line now shows support & resistance too. Even long legged doji at 15.05 didnt reach this, but the current lows are running close to parallel. Maybe another bounce up at 6500?
Currently lower highs & now a higher low on 5 min. Maybe pendant.
Vantage, where are you? I know you trade from hi/lo s. Comments?
well, trends are only approximate! It broke thro & closed above before retrace.
Intersting (to me anyway) - I repositioned trend line to body of 9.35 bear bar rather than tip & line now shows support & resistance too. Even long legged doji at 15.05 didnt reach this, but the current lows are running close to parallel. Maybe another bounce up at 6500?
Currently lower highs & now a higher low on 5 min. Maybe pendant.
Vantage, where are you? I know you trade from hi/lo s. Comments?
- #3,940
- Edited 3:28am Sep 18, 2009 3:14am | Edited 3:28am
- | Joined Aug 2008 | Status: Trader | 482 Posts
what kind 200ma, sma or ema?
i use sma.
Do you use it at 15m?
I use 20 50 + 200 EMAs on these daily set ups. Its a different trade to this thread. I look for a day that breaks trend & look to trade the following day back in the way of the trend when previous days high/low was breached & closing or adjusting trade at end of day, used to be 60-70% success.
The original set up was for when I wasnt at screen during day. However it started to fail a lot a few months ago, hence I started looking to intraday more & found this thread. (what a blessing that was!)
This week its been successful, but I will be testing other currencies & looking for smaller trades rather than leave open until end of day, so spread can be a problem on some. Some I will place trades at end of day to open when target opened, others to actively trade by applying principles of this thread. However, I am not yet good enough at this psych trading to manage a number of currencies at once, unlike yourself.
