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Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,161
  • Oct 6, 2009 11:41am Oct 6, 2009 11:41am
Quoting Islander
wait about half an hour and repeat for another ~20 pips.....http://www.forexfactory.com/images/icons/icon12.gif
and twice more before the final drop into the London Close at the 5900 level.......now probably a larger retrace, but I'm finished until FO.....BFN
Trading Levels with WRBs
  • #4,162
  • Oct 7, 2009 1:39am Oct 7, 2009 1:39am
GM all. The small double bottom at the begining of Frankies Hour made me close out my shorts from a little earlier and I've now sold the retrace to the 5800 area, actually a Lower High, looking for new lows towards the 5700 level.....TWT
Trading Levels with WRBs
  • #4,163
  • Oct 7, 2009 2:02am Oct 7, 2009 2:02am
Quoting Islander
GM all. The small double bottom at the begining of Frankies Hour made me close out my shorts from a little earlier and I've now sold the retrace to the 5800 area, actually a Lower High, looking for new lows towards the 5700 level.....TWT
I've had 2 sells both got to +10-ish and took me out at BE. If I trade and get to +10 ish I don't mind 1 test but if I go back to +10 ish then I put stop to BE.

We have a weekly pivot at 5858 and this level has been a problem going back to 2 Oct, its held apart from 1 push down quickly rejected. See 4 hr charts shows clearly.
  • #4,164
  • Oct 7, 2009 2:31am Oct 7, 2009 2:31am
Quoting Islander
GM all. The small double bottom at the begining of Frankies Hour made me close out my shorts from a little earlier and I've now sold the retrace to the 5800 area, actually a Lower High, looking for new lows towards the 5700 level.....TWT
Darn it, I'm slow this morning - out for a wash after the Higher Low just after LO, sold the days open level at 5920 to see if it pulls back to the 5900 level when I'll consider a buy
Trading Levels with WRBs
  • #4,165
  • Oct 7, 2009 6:38am Oct 7, 2009 6:38am
Simple love the 'atmosphere' of this thread!
Looks nobody want to sell something, If You have a question You get the answer...Friendly, very friendly...Nice!
I like it!
Just this is , what I wanted to say. Keep going...
NL
  • #4,166
  • Oct 7, 2009 6:53am Oct 7, 2009 6:53am
Quoting lacika
Simple love the 'atmosphere' of this thread!
Looks nobody want to sell something, If You have a question You get the answer...Friendly, very friendly...Nice!
I like it!
Just this is , what I wanted to say. Keep going...
NL
Everybody's welcome, lacika. Stick around.
  • #4,167
  • Oct 7, 2009 7:31am Oct 7, 2009 7:31am
Quoting lacika
Simple love the 'atmosphere' of this thread!
Looks nobody want to sell something, If You have a question You get the answer...Friendly, very friendly...Nice!
I like it!
Just this is , what I wanted to say. Keep going...
NL
Thanks lacika - simple things here, all in the spirit of the thread´s title and people who try to explain their reasons for trades rather than the "I did thhis or that" rubbish that clogs up other threads....

BTW guys, I'm still short off the 5920 area -also the highest volume area so far this week as I've posted in the VSA thread. I can see the latest Higher Low off the Yesterdays Low level at 5874, but I'm holding for the NY guys to start trading....Euro just made a Lower Low, so that should help.....TWT http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #4,168
  • Oct 7, 2009 7:36am Oct 7, 2009 7:36am
Quoting Vantage
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....

Thanks vantage, I had similar thoughts as well with the low range pivots. I like to trade hammers and doji setups myself. I trade the Euro but am finding myself enjoying the cable increasingly so.
  • #4,169
  • Oct 7, 2009 8:36am Oct 7, 2009 8:36am
Quoting Islander
Thanks lacika - simple things here, all in the spirit of the thread´s title and people who try to explain their reasons for trades rather than the "I did thhis or that" rubbish that clogs up other threads....

BTW guys, I'm still short off the 5920 area -also the highest volume area so far this week as I've posted in the VSA thread. I can see the latest Higher Low off the Yesterdays Low level at 5874, but I'm holding for the NY guys to start trading....Euro just made a Lower Low, so that should help.....TWT http://www.forexfactory.com/images/icons/icon12.gif...
another HL, so I've closed part of my short.....
Trading Levels with WRBs
  • #4,170
  • Oct 7, 2009 9:08am Oct 7, 2009 9:08am
Quoting Islander
another HL, so I've closed part of my short.....
You're doing a lot of late afternoon trades just lately.........

Now I know you haven't been sacked or anything so have you now made that final step from semi-retired to ACTUALLY retired?
  • #4,171
  • Oct 7, 2009 9:43am Oct 7, 2009 9:43am
Quoting eyevoltage
You're doing a lot of late afternoon trades just lately.........

Now I know you haven't been sacked or anything so have you now made that final step from semi-retired to ACTUALLY retired?
LOL EV -I wish......my core trading period is still ~3 hours from FO and when I can NY open for another ~3 hours, the latter depending on my work load elsewhere....also, I'm now more relaxed about holding positions for longer - even overnight....http://www.forexfactory.com/images/icons/icon11.gif - I think its called "multi-tasking" or some such buzz word...http://www.forexfactory.com/images/icons/icon6.gif


BTW, I've now closed the rest of my short after that last failed attempt at new lows - so far this week its hard work plundering pips .....http://www.forexfactory.com/images/icons/icon9.gif
Trading Levels with WRBs
  • #4,172
  • Oct 7, 2009 9:22pm Oct 7, 2009 9:22pm
Quoting Islander
LOL EV -I wish......my core trading period is still ~3 hours from FO and when I can NY open for another ~3 hours, the latter depending on my work load elsewhere....also, I'm now more relaxed about holding positions for longer - even overnight....http://www.forexfactory.com/images/icons/icon11.gif - I think its called "multi-tasking" or some such buzz word...http://www.forexfactory.com/images/icons/icon6.gif


BTW, I've now closed the rest of my short after that last failed attempt at new lows - so far this week its hard...


Gd morning all.

i missed eu move up this morning asian session.
Price above pivot, brea psycho 00, retrace and pinbar at 15m.
  • #4,173
  • Oct 7, 2009 9:24pm Oct 7, 2009 9:24pm
Quoting masut


Gd morning all.

i missed eu move up this morning asian session.
Price above pivot, brea psycho 00, retrace and pinbar at 15m.
ups, sorry.

chart....
Attached Image
  • #4,174
  • Oct 8, 2009 1:33am Oct 8, 2009 1:33am
Quoting masut
ups, sorry.

chart....
GM all - lol, its the early bird out catching worms again........nice one

I was too late to catch the Lower High at the R1 level half an hour before FO, so I waited and bought at the 5975 level - a multiple support level.

I've already taken partials at the 30 ema as I expect choppy action in the run up to the BOE and ECB announcements later this morning...
Trading Levels with WRBs
  • #4,175
  • Oct 8, 2009 1:51am Oct 8, 2009 1:51am
Quoting Islander
GM all - lol, its the early bird out catching worms again........nice one

I was too late to catch the Lower High at the R1 level half an hour before FO, so I waited and bought at the 5975 level - a multiple support level.

I've already taken partials at the 30 ema as I expect choppy action in the run up to the BOE and ECB announcements later this morning...
Remainder closed after the spike up thru the R1 level http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #4,176
  • Oct 8, 2009 11:33pm Oct 8, 2009 11:33pm
Gd Day all

EU failed breaks trendline and rebound of S1, psycho 00, also weekly pivot.

Time to long,
Attached Image
  • #4,177
  • Oct 9, 2009 2:00am Oct 9, 2009 2:00am
GM all - just back from a drop off at the airport, so I missed the buy off the double bottom at the 6000 level - but that quickly ran out of steam, so I'm waiting for The Brits to show their hand.....no leads from Euro or Swissy as they are flat too.....
Trading Levels with WRBs
  • #4,178
  • Oct 9, 2009 2:09am Oct 9, 2009 2:09am
Quoting Islander
GM all - just back from a drop off at the airport, so I missed the buy off the double bottom at the 6000 level - but that quickly ran out of steam, so I'm waiting for The Brits to show their hand.....no leads from Euro or Swissy as they are flat too.....
you are just on time mate.. we're at decision point.. [cable]

[Chart]
Attached Image (click to enlarge)
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  • #4,179
  • Oct 9, 2009 3:45am Oct 9, 2009 3:45am
Quoting Islander
GM all - just back from a drop off at the airport, so I missed the buy off the double bottom at the 6000 level - but that quickly ran out of steam, so I'm waiting for The Brits to show their hand.....no leads from Euro or Swissy as they are flat too.....
The old chestnut of follow 1 hr until good reason not too seems to apply.

Mrs V and I are trying to get our heads around following the 1 hr and selling the moves up (that stay lower highs) as opposed to your buy the round numbers. We often think of trying to do both, dream on Davie .....................
  • #4,180
  • Oct 9, 2009 5:18am Oct 9, 2009 5:18am
Quoting Piters
you are just on time mate.. we're at decision point.. [cable]

[Chart]
Thanks - that saves me searching the chat show - aka cable thread

I did just post this chart there - no comments are needed for the regulars here......except to say that I held it till the YL / 5950 confluence....
Attached Image (click to enlarge)
Click to Enlarge Name: oct 9 cable 5m 1000 gmt.gif Size: 16 KB
Trading Levels with WRBs
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