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Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,121
  • Oct 2, 2009 3:51am Oct 2, 2009 3:51am
[quote=Porkpie;3111585]...throwing a dash of volume for good measure perhaps.

Ever considered, trading is like cooking. Too many ingredients and you'll end up with a dogs dinner. Keepin it simple but imaginative by using a few ingredients and using them well is what its all about.

[quote=Islander;3111556]I like your use of 30 ema. I have been using 50


LOL - I like that idea - especially as I've just started on the cooking trail after my children bought me a wok for my birthday.......both cooking and trading can be humbling activities - ever tried scrambled ice cream - I can tell you how....http://www.forexfactory.com/images/icons/icon11.gif.....with No 2 daughter a super yacht chef in the summer and a film set chef in the winter I'm under close - often mirth-filled -scrutiny.....I feel an empathy for Floyds style - pass the Rioja!

PS I was too slow on that last short - missed the HL off the 875 level and hit my tight SL
Trading Levels with WRBs
  • #4,122
  • Oct 2, 2009 4:02am Oct 2, 2009 4:02am
Yeah, poor ol Floyd, but he had a great life it seems. I have dabbled in a bit of cookery in a previous life, in Spain in fact, with rave reviews on trip advisor (I ran a B&B in a place called Itrabo- costa tropical).

[quote=Islander;3111630][quote=Porkpie;3111585]...throwing a dash of volume for good measure perhaps.

Ever considered, trading is like cooking. Too many ingredients and you'll end up with a dogs dinner. Keepin it simple but imaginative by using a few ingredients and using them well is what its all about.

Quoting Islander
I like your use of 30 ema. I have been using 50


LOL - I like that idea - especially as I've just started on the cooking trail after my children bought me a wok for my birthday.......both cooking and trading can be humbling...
  • #4,123
  • Oct 2, 2009 4:30am Oct 2, 2009 4:30am
[quote=Porkpie;3111666]Yeah, poor ol Floyd, but he had a great life it seems. I have dabbled in a bit of cookery in a previous life, in Spain in fact, with rave reviews on trip advisor (I ran a B&B in a place called Itrabo- costa tropical).

[quote=Islander;3111630]
Quoting Porkpie
...throwing a dash of volume for good measure perhaps.

Ever considered, trading is like cooking. Too many ingredients and you'll end up with a dogs dinner. Keepin it simple but imaginative by using a few ingredients and using them well is what its all about.
with a handle of Porkpie, you must be a chef from Wigan!
  • #4,124
  • Oct 2, 2009 4:42am Oct 2, 2009 4:42am
[quote=Barry Cade;3111748][quote=Porkpie;3111666]Yeah, poor ol Floyd, but he had a great life it seems. I have dabbled in a bit of cookery in a previous life, in Spain in fact, with rave reviews on trip advisor (I ran a B&B in a place called Itrabo- costa tropical).

Quoting Islander

with a handle of Porkpie, you must be a chef from Wigan!
Haha, Hi Barry, no I am not. Not sure why I chose that name ( a moment of madness!). I am from London.
  • #4,125
  • Oct 2, 2009 5:18am Oct 2, 2009 5:18am
Nowt wrong with pork pies, mate!
  • #4,126
  • Oct 2, 2009 5:27am Oct 2, 2009 5:27am
Quoting eyevoltage
Nowt wrong with pork pies, mate!
Nope, nothing wrong with them at all...
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  • #4,127
  • Oct 2, 2009 6:00am Oct 2, 2009 6:00am
Two trades off 5m cable.................

After the Harami candle formed just under S1, I had to wait until price cleared the xx00 psych-line before entering, and I exited just above my target which was the xx75 psych-line. My next entry was just under the S2 line after price had a spell of consolidation along the xx75 psych-line, and my exit was just under the xx50 psych-line.
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  • #4,128
  • Oct 2, 2009 8:53am Oct 2, 2009 8:53am
Waiting for 15 / 30 mins after the news is often better.....a nice HL ~ the 5825 level has given a 100+ pip rally....more than I expected.....
Trading Levels with WRBs
  • #4,129
  • Oct 2, 2009 8:55am Oct 2, 2009 8:55am
First trade to day.

After NFP, euro move up breaks my psycho 00 level. I just wait retrace and i saw pinbar [not perfect]

Time for long.
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  • #4,130
  • Oct 2, 2009 9:05am Oct 2, 2009 9:05am
Quoting Islander
Waiting for 15 / 30 mins after the news is often better.....a nice HL ~ the 5825 level has given a 100+ pip rally....more than I expected.....

There were 3 other long entries off pull backs.

The rally has so far stopped at the 1.618 expansion / yesterdays low / 5925 level and I've now taken a small short, looking for the 38% retrace to ~the 885 area
Trading Levels with WRBs
  • #4,131
  • Oct 2, 2009 9:25am Oct 2, 2009 9:25am
Quoting Islander
There were 3 other long entries off pull backs.

The rally has so far stopped at the 1.618 expansion / yesterdays low / 5925 level and I've now taken a small short, looking for the 38% retrace to ~the 885 area
885 just hit, I'll sell again on a retrace for one last trade today......but this is my last post - wishing you all a great weekend....BFN
Trading Levels with WRBs
  • #4,132
  • Oct 2, 2009 10:32am Oct 2, 2009 10:32am
guys, this is my thank you post before full-time contracted employment next week when I will be reverting to overnight setups, certainly for a couple of months.

So if theres no posts from me (I will still be reading) dont take it that I am no longer in love with you!

Many, many thx to all, esp EV, Islander & Vantage over the last few months. I have learned so much from you guys. Invaluable - I owe you all.

Hope some of my posts have been helpful to other visitors & maybe the occasional one has shown some alternative observation that was useful to you also.

Much success, enjoyment, Boddingtons, Rioja & Cabernet Merlot to you all. Have great weekends.

Hope to be back intraday trading soon.

BC. barricade
  • #4,133
  • Oct 2, 2009 10:39am Oct 2, 2009 10:39am
Quoting Barry Cade
guys, this is my thank you post before full-time contracted employment next week when I will be reverting to overnight setups, certainly for a couple of months.

So if theres no posts from me (I will still be reading) dont take it that I am no longer in love with you!

Many, many thx to all, esp EV, Islander & Vantage over the last few months. I have learned so much from you guys. Invaluable - I owe you all.

Hope some of my posts have been helpful to other visitors & maybe the occasional one has shown some alternative observation...
good luck with your new job mate. your posts were sure helpful to me.
  • #4,134
  • Oct 4, 2009 8:41pm Oct 4, 2009 8:41pm
Quoting Barry Cade
guys, this is my thank you post before full-time contracted employment next week when I will be reverting to overnight setups, certainly for a couple of months.

So if theres no posts from me (I will still be reading) dont take it that I am no longer in love with you!

Many, many thx to all, esp EV, Islander & Vantage over the last few months. I have learned so much from you guys. Invaluable - I owe you all.

Hope some of my posts have been helpful to other visitors & maybe the occasional one has shown some alternative observation that...
Good bye BC, i'll wait u here
  • #4,135
  • Edited 2:50am Oct 5, 2009 2:29am | Edited 2:50am
GBP 5 min: A nice 50 pips this morning. Price broke through r1 and 1.600 level also a 61.8 fib on H1 (nice confluence), and dipped below 30 ema (Green). Exit at the pin bar and sweet spot area at 5933, also close to the area where the origin of the move up started (natural support level).

Edit: price moved down a little further and consolidated not long after. Happy that I got out as we are also above the pivot line (playing it safe).
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  • #4,136
  • Oct 5, 2009 4:26am Oct 5, 2009 4:26am
Quoting Barry Cade
guys, this is my thank you post before full-time contracted employment next week when I will be reverting to overnight setups, certainly for a couple of months.

So if theres no posts from me (I will still be reading) dont take it that I am no longer in love with you!

Many, many thx to all, esp EV, Islander & Vantage over the last few months. I have learned so much from you guys. Invaluable - I owe you all.

Hope some of my posts have been helpful to other visitors & maybe the occasional one has shown some alternative observation...
Cheers Barry.
  • #4,137
  • Oct 5, 2009 4:27am Oct 5, 2009 4:27am
A trade showing how useful the 30ema is. Price seemed to be actually consolidating along it, which included two dojis, one after the other. A strong momentum candle took price up to the confluence of R1/xx75 psych-line, and then it was a case of waiting for the right time to enter. A conservative entry, to be sure, but with around 15 pips of profit, which can't be bad.
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  • #4,138
  • Oct 5, 2009 4:34am Oct 5, 2009 4:34am
Quoting Barry Cade
guys, this is my thank you post before full-time contracted employment next week when I will be reverting to overnight setups, certainly for a couple of months.

So if theres no posts from me (I will still be reading) dont take it that I am no longer in love with you!

Many, many thx to all, esp EV, Islander & Vantage over the last few months. I have learned so much from you guys. Invaluable - I owe you all.

Hope some of my posts have been helpful to other visitors & maybe the occasional one has shown some alternative observation...
Good luck with your new job - hope to see you passing by....
Trading Levels with WRBs
  • #4,139
  • Edited 4:45am Oct 5, 2009 4:36am | Edited 4:45am
An interesting morning. Started with 3 shooting stars in a row (same set up as an ej sell I think it was from Thurs). 15 min had a large upper wick and then a doji (not shown) with good vol. This was all a reject of 25 level and at the high from last Thurs also a 38% fib ext of Fri's high. Had a sell at 6012 see your 1 min charts for push up and reject.

Got out at 75 level and a 2nd sell after the shooting star entry 5964. Had a 3rd sell below 5950 but out at BE when it never followed through.

On the move up I missed the first HL, the hammer above 5950 but got the 2nd bite at 5965, the hammer above the brown line Y's high. Out below 6000 for 29 when the move above the even number had a pretty quick push down. Forgot to mention moved stop to just above BE when we got to +11 and eur news was a few minutes away.

Mrs V already having a nice lie down (to quote Basil Fawlty) and I'm finished now until pre US in an hour or so.
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  • #4,140
  • Edited 5:47am Oct 5, 2009 4:50am | Edited 5:47am
GM all - been tied up this morning, so missed these easy set ups - glad to see that others spotted them....http://www.forexfactory.com/images/icons/icon12.gif

The red resistance area is also a fib retrace and the lower highs were a gift.....the Todays Open level (dotted gold line) is also a good one to trade off http://www.forexfactory.com/images/icons/icon12.gif....the fibs are pulled from Fridays low....

FYI, 5953, 5985 and now 6005 have the highest cumulative volumes pulled over the last 7 trading days with 5985 also being the highest cumulative volume area this week so far.......as long as the red resistance area holds I'll be preparing for a move south......
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Trading Levels with WRBs
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