Psych Levels, Pivots, and Trendlines - Resurrected | Page 208 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Adr, psych levels, demand & supply trading 15 replies

Standard Pivots and Fibonnaci Pivots? 9 replies

EUR/USD 5min - Trendlines and Pivots 379 replies

Important psych levels 1 reply

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Attachments: Psych Levels, Pivots, and Trendlines - Resurrected
Exit Attachments

Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,141
  • Oct 5, 2009 5:00am Oct 5, 2009 5:00am
Quoting Islander
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......
Are you using the vsa thread Market Profile for this?
  • #4,142
  • Oct 5, 2009 5:42am Oct 5, 2009 5:42am
Quoting Vantage
Are you using the vsa thread Market Profile for this?
Hi V - yes, the Scrat version - see my post there......
Trading Levels with WRBs
  • #4,143
  • Oct 5, 2009 5:44am Oct 5, 2009 5:44am
Quoting Islander
Hi V - yes, the Scrat version - see my post there......
Thks.
  • #4,144
  • Oct 5, 2009 2:44pm Oct 5, 2009 2:44pm
Quoting Islander
Hi V - yes, the Scrat version - see my post there......
Cant keep away can I!

surprisingly how prices react to it isnt it?

Let me know when youve settled on settings that work best for you & I will compare to the bog standard ones, which whilst they appear to use timeframes not suited to my settings, are still reaction points.

See yas.

BC
  • #4,145
  • Oct 6, 2009 1:38am Oct 6, 2009 1:38am
Quoting Barry Cade
Cant keep away can I!

surprisingly how prices react to it isnt it?

Let me know when youve settled on settings that work best for you & I will compare to the bog standard ones, which whilst they appear to use timeframes not suited to my settings, are still reaction points.

See yas.

BC
LOL - I've posted this morning's VSA / Market Profile charts in the VSA thread....I sold the 6000 level and have just TPd at the 5975 level.....IMO cable is weak as it didnt follow the Euro's breakout just before FO.....
Trading Levels with WRBs
  • #4,146
  • Oct 6, 2009 1:54am Oct 6, 2009 1:54am
Just curious what do you guys do when the pivots are so close to each other like on a day like today? Would you sit on the sidelines? Today was the first day I had trouble with pivots, which I kinda expected given the low range of pivots, but I traded anyway to see how I'd do in the live situation.. Acumen? Islander, Masut?? All your comments appreciated.
  • #4,147
  • Oct 6, 2009 1:56am Oct 6, 2009 1:56am
I took a long just before your short Islander. Entered just before FO on a bounce off the 30 ema and confluence of the xx80 psych level. My target was the xx00 psych level, so I knew it was never going to be a lot of pips - out +11 net. Still learning.........
  • #4,148
  • Oct 6, 2009 2:08am Oct 6, 2009 2:08am
Quoting orientos
I took a long just before your short Islander. Entered just before FO on a bounce off the 30 ema and confluence of the xx80 psych level. My target was the xx00 psych level, so I knew it was never going to be a lot of pips - out +11 net. Still learning.........
Well done - I had that one too, a bounce up off the 5975 level / 30 ema is always worth a try.....

The 1 min bearish engulfing candle that was the high gave me my reverse as I was already biased short from the VSA action....
Trading Levels with WRBs
  • #4,149
  • Oct 6, 2009 2:15am Oct 6, 2009 2:15am
Quoting megamo
Just curious what do you guys do when the pivots are so close to each other like on a day like today? Would you sit on the sidelines? Today was the first day I had trouble with pivots, which I kinda expected given the low range of pivots, but I traded anyway to see how I'd do in the live situation.. Acumen? Islander, Masut?? All your comments appreciated.
So far, my pivots are very close to the physc levels, so I'm just watching the PA around their confluences.......I'm also remembering that narrow range days lead to bigger moves and Cable has two data releases this morning, the Halifax HPI in 45 mins and the Manufacturing Production data 30 mins later......
Trading Levels with WRBs
  • #4,150
  • Oct 6, 2009 2:27am Oct 6, 2009 2:27am
Quoting Islander
LOL - I've posted this morning's VSA / Market Profile charts in the VSA thread....I sold the 6000 level and have just TPd at the 5975 level.....IMO cable is weak as it didnt follow the Euro's breakout just before FO.....
I prefer just the levels
Attached Image (click to enlarge)
Click to Enlarge Name: MP.jpg Size: 67 KB
  • #4,151
  • Oct 6, 2009 2:29am Oct 6, 2009 2:29am
Quoting Islander
Well done - I had that one too, a bounce up off the 5975 level / 30 ema is always worth a try.....

The 1 min bearish engulfing candle that was the high gave me my reverse as I was already biased short from the VSA action....
In the last 15 mins of Frankies Hour buyers came in and I went long off the small pull back to the 30ema / 975 level
Trading Levels with WRBs
  • #4,152
  • Oct 6, 2009 2:44am Oct 6, 2009 2:44am
Quoting Islander
In the last 15 mins of Frankies Hour buyers came in and I went long off the small pull back to the 30ema / 975 level
@ megamo and Porkpie

Took partials at the 6035 level - one of cable's favourites and also todays MR2 level....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #4,153
  • Oct 6, 2009 5:53am Oct 6, 2009 5:53am
Been a bit of a dead loss this morning, IMO, but at last a decent opportunity presented itself on the 5m cable.
A symmetrical triangle formed around the confluence of the Main Pivot and the xx50 psych-line. After the breakout, and my entry, there was a bit of indecision represented by the two dojis, before price finally started dropping. I nearly exited at the xx25 psych-line, but decided to wait to see if it would reach the green dotted Mid-Point line. Exit after said line was breached and price started retreating upwards again.
Attached Image
  • #4,154
  • Oct 6, 2009 6:16am Oct 6, 2009 6:16am
Following on from my last trade....after price breached the Mid-Point line, it retraced and then continued downwards. Entry and exit as indicated on chart.
Attached Image
  • #4,155
  • Edited 6:47am Oct 6, 2009 6:24am | Edited 6:47am
GU 1st trade of the day, 1 min chart show. A buy when price pushed up from 75 area. Moved stop to BE quite quickly in case of a quick pull back from days high. Hit D R1, just above the even number, exited +14 when it held.

I missed the subsequent move up (can't remember why) but price moved above y's high 6024 but struggled. Several shooting stars in area of 50, W M3 and D M4. Sold 6030 moved stop to BE in front of the news and got a good run down. See 5 min chart.

Somewhere in there we had a stupid eu trade for -15.

Popped out to shops and missed the move below 5950 but sold this shooting star at 5914. Got out too early at even number/Y's low.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 9 KB
Click to Enlarge Name: 2.gif Size: 12 KB
Click to Enlarge Name: 3.gif Size: 12 KB
  • #4,156
  • Oct 6, 2009 6:29am Oct 6, 2009 6:29am
Quoting eyevoltage
Following on from my last trade....after price breached the Mid-Point line, it retraced and then continued downwards. Entry and exit as indicated on chart.
Snap, nice one, we got same trade but exited a little earlier.
  • #4,157
  • Edited 6:49am Oct 6, 2009 6:42am | Edited 6:49am
Quoting megamo
Just curious what do you guys do when the pivots are so close to each other like on a day like today? Would you sit on the sidelines? Today was the first day I had trouble with pivots, which I kinda expected given the low range of pivots, but I traded anyway to see how I'd do in the live situation.. Acumen? Islander, Masut?? All your comments appreciated.
My 2 cents worth.

If prev day was a narrow range then the pivots will be tight. It does make things trickier but other things should always be used like the psych levels (as Islander mentioned), good old supp/res areas (eg prev days high/low), weekly and monthly pivots and also the type of candles you're getting in reaction to these areas. It seems like EV trades Harami's and shooting stars in downtrends and hammers in uptrends and does very well from a few set ups.

How silly of me forgot to add my fave, higher lows and lowers highs. Chuck the above into a pot and you'll be OK.
  • #4,158
  • Oct 6, 2009 7:55am Oct 6, 2009 7:55am
Quoting Vantage
Snap, nice one, we got same trade but exited a little earlier.
  • #4,159
  • Oct 6, 2009 7:59am Oct 6, 2009 7:59am
Nicely put V .....

Todays 5 min chart so far with typical entries / exits of which I've taken several.....the last was the sell off the green MS1 level, already closed when it put in an equal low just above S1 - now will we get a bigger retrace....TWT....http://www.forexfactory.com/images/icons/icon12.gif
Attached Image (click to enlarge)
Click to Enlarge Name: oct 6 cable 5m 1250 gmt.gif Size: 20 KB
Trading Levels with WRBs
  • #4,160
  • Oct 6, 2009 8:30am Oct 6, 2009 8:30am
Quoting Islander
Nicely put V .....

Todays 5 min chart so far with typical entries / exits of which I've taken several.....the last was the sell off the green MS1 level, already closed when it put in an equal low just above S1 - now will we get a bigger retrace....TWT....http://www.forexfactory.com/images/icons/icon12.gif
wait about half an hour and repeat for another ~20 pips.....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
3 traders viewing now