Psych Levels, Pivots, and Trendlines - Resurrected | Page 212 | Forex Factory

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

  • #4,221
  • Oct 16, 2009 5:04am Oct 16, 2009 5:04am
Quoting lacika
THX for Your reply, Islander!

I read Mr. and Mrs. V accept 1 retest of the Entry point.
Eye and Islander how do You approach that matter?
Happy life, NL
Just to clarify a little.

By way of example if you had sold around 6361 a rejection of the 75 level. There was a move down to 50 level ie about +10, price came back to BE and then down to 50 level again. Chances are it'll go through or have a decent move up. When I've it +10 for 2nd time in this way I'll then move to BE. If it goes against me no problem, if it breaks below you have a very nice trade.

Same screen if you had sold the move below 6350 around 12.04 price moved down to 6320 and had a decent retrace then falling again. I'd have moved stop and be looking to exit as the 25 level was holding. In this case the move up was not that big but would likely have hit a 15 pip stop.

If you are scalping you need to (a) protect yourself and keep stops small 15 pip stops getting hit when you've been +20 is not going to make you happy if average + trades +20-ish. NB if scalping, and (b) you do need to bank along the way.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 10 KB
  • #4,222
  • Oct 16, 2009 7:47am Oct 16, 2009 7:47am
Quoting Vantage
Just to clarify a little.

If you are scalping you need to (a) protect yourself and keep stops small 15 pip stops getting hit when you've been +20 is not going to make you happy if average + trades +20-ish. NB if scalping, and (b) you do need to bank along the way.
THX for the clarification V!
You mean to take partial profit at the 25,50,00 lines, if price go in Your favor?
NL
  • #4,223
  • Oct 16, 2009 11:51am Oct 16, 2009 11:51am
Quoting lacika
THX for the clarification V!
You mean to take partial profit at the 25,50,00 lines, if price go in Your favor?
NL
Yes and chuck in pivots also and other supp/res levels like prev days high/low. Again I'm stressing this is a scalping mentality. If you get good entries on gbpusd and in on the first hl/lh in a move you can either scalp 3 or 4 times in the move (which is highly likely) or watch ATR's and take profits when larger moves have happened.

I'm really working on trying to stay in moves longer, its a weak point of mine. So I accept that and try for several smaller moves within a longer run. All the time mentally trying to catch those longer moves.
  • #4,224
  • Oct 17, 2009 8:36am Oct 17, 2009 8:36am
hi all, could someone post their hull ma as their are many on FF but I cant seem to get one close to the bog standard 30 MA movement.

Ta
  • #4,225
  • Oct 18, 2009 2:23am Oct 18, 2009 2:23am
Quoting Porkpie
hi all, could someone post their hull ma as their are many on FF but I cant seem to get one close to the bog standard 30 MA movement.

Ta
Hi Hull attached as well as a MA indi that changes colour up and down. This has linear weighted, smoothed and expo.

MA type 3 is linear weighted on close.
MA type 2 is smoothed on close.
MA type 1 is exponential on close.
Attached File(s)
File Type: ex4 HullMA Modified.ex4   7 KB | 340 downloads
File Type: ex4 MA in Color_wAppliedPrice.ex4   5 KB | 302 downloads
  • #4,226
  • Oct 18, 2009 1:42pm Oct 18, 2009 1:42pm
thanks Vantage
  • #4,227
  • Oct 18, 2009 7:25pm Oct 18, 2009 7:25pm
Gd morning all

This is my EJ short. Price breaks pivot and psycho .50, pullback. I just enter at below previous low.

Nice trade for early week.
Attached Image
  • #4,228
  • Oct 19, 2009 3:19am Oct 19, 2009 3:19am
masut hav u gone trading live with pivots?
  • #4,229
  • Oct 19, 2009 3:28am Oct 19, 2009 3:28am
GM all - so far cable has been retracing part of its last rally and has held at the 23.6% fib retracement - less than I would expect with the more probable target around the 6100 area as shown on the hourly chart.

The sell just before the Frankfurt Open was a nice start to the week, with further shorts easily available.

Now we have a 5 min Higher Low off the Friday's Low / 6250 confluence and we need to see IF cable is going to join the Euro in a continuation rally OR continue down into the fib decision zone......Time Will Tell
Attached Image(s) (click to enlarge)
Click to Enlarge Name: oct 16 cable hrly 0800 gmt.gif Size: 27 KB
Click to Enlarge Name: oct 16 cable 5m 0830 gmt.gif Size: 18 KB
Trading Levels with WRBs
  • #4,230
  • Oct 19, 2009 11:18am Oct 19, 2009 11:18am
Hey guys,

Just my opinion on a trade I took earlier bagged 50 pips I guess nothing is better than simple price action...

In the square I drew I saw a candle retest from above the pivot line to 1.63348.
This with the current uptrend and the volume signalling there was more to come, was not a trade to miss....
I exited at 1.6400 the whole number...

I hope you lots don't mind me posting...
Attached Image (click to enlarge)
Click to Enlarge Name: gu ana 19th oct.gif Size: 26 KB
  • #4,231
  • Oct 19, 2009 11:42am Oct 19, 2009 11:42am
Quoting Kamikaze456
Hey guys,

Just my opinion on a trade I took earlier bagged 50 pips I guess nothing is better than simple price action...

In the square I drew I saw a candle retest from above the pivot line to 1.63348.
This with the current uptrend and the volume signalling there was more to come, was not a trade to miss....
I exited at 1.6400 the whole number...

I hope you lots don't mind me posting...
LOL - No problem after such a nice breakout trade using "the levels" http://www.forexfactory.com/images/icons/icon14.gif

After your trade I watched the PA as cable broke up to a new high at the R1 level - only 12 pips higher, clear bearish momentum divergence at "a level" so I just had to sell small size for a quick 20 pips for my last trade today....bfn
Trading Levels with WRBs
  • #4,232
  • Oct 19, 2009 11:47am Oct 19, 2009 11:47am
Quoting Islander
LOL - No problem after such a nice breakout trade using "the levels" http://www.forexfactory.com/images/icons/icon14.gif

After your trade I watched the PA as cable broke up to a new high at the R1 level - only 12 pips higher, clear bearish momentum divergence at "a level" so I just had to sell small size for a quick 20 pips for my last trade today....bfn

Lol I'm glad someone saw the range....I went on a sell on the previous test of the pivot and managed to bag 30 pips on a sell....I was so upset when price hit the TP point of 1.63000

I thought it was going to go down further....How wrong was I .....
  • #4,233
  • Oct 19, 2009 2:51pm Oct 19, 2009 2:51pm
Seeing some heavy resistance on the USD/CHF....

Looking like I'm going to go on a sell with a 30 pip target....

Several testers...

There could be a breakout using "the levels"

Bit scared due to the Minimal amount of volume.....But can see reasons to take a buy trade on the EUR/USD "the other heavily correlated pair"
I think I'll take the swiss franc
Attached Image (click to enlarge)
Click to Enlarge Name: should i uc 2046.gif Size: 25 KB
  • #4,234
  • Oct 19, 2009 4:57pm Oct 19, 2009 4:57pm
Hi Kamikaze and welcome to the thread, and also thanks for your great charts.

This is an unusual time for me to trade, but just lately it's been a bit difficult for me, so I'm grabbing a little time for myself!

Just finished this trade on cable. A nice little harami forming right on the 1.6400 psych-line prompted an entry as indicated just above its high. Exited after price punched through the 1.6425 psych-line and started retreating. I'm not usually one for the Asian session, but this was too good to miss.
Attached Image
  • #4,235
  • Oct 20, 2009 1:59am Oct 20, 2009 1:59am
GM all.

The hourly trend - as defined by the 20 ema - is still up, although the move has now stalled 20 / 30 pips above last weeks high.

Just before FO price pulled back to the flat 5 min 30 ema before turning north again and giving a buy signal which managed to go 10 pips above the Asian Session high of 6434.....so an easy 30+ pips available.

The Lower High 16 mins later was a nice sell ~the 6434 level and I put my TP at the 30 ema......now I'm waiting for the Brits......
Trading Levels with WRBs
  • #4,236
  • Oct 20, 2009 2:00am Oct 20, 2009 2:00am
Hi,

Thanks eyevoltage for the kind welcome. I am not one to trade during the asian session or on the 5m chart but that was a lovely little pattern that formed......

Great Trade!!
  • #4,237
  • Oct 20, 2009 2:02am Oct 20, 2009 2:02am
Quoting Islander
GM all.

The hourly trend - as defined by the 20 ema - is still up, although the move has now stalled 20 / 30 pips above last weeks high.

Just before FO price pulled back to the flat 5 min 30 ema before turning north again and giving a buy signal which managed to go 10 pips above the Asian Session high of 6434.....so an easy 30+ pips available.

The Lower High 16 mins later was a nice sell ~the 6434 level and I put my TP at the 30 ema......now I'm waiting for the Brits......
GM Islander,

I'm off to work but might be able to post something there....
Nice use of the ema i must say

Good luck trading!
  • #4,238
  • Oct 20, 2009 2:08am Oct 20, 2009 2:08am
Quoting bksujal
masut hav u gone trading live with pivots?
yes, of course.
  • #4,239
  • Oct 20, 2009 2:13am Oct 20, 2009 2:13am
Quoting Kamikaze456
GM Islander,

I'm off to work but might be able to post something there....
Nice use of the ema i must say

Good luck trading!
Thanks - the 5m 30 ema is a great way to keep the correct side of the ST trend and to use for pull backs etc.....
Trading Levels with WRBs
  • #4,240
  • Oct 20, 2009 2:16am Oct 20, 2009 2:16am
Quoting Islander
GM all.

The hourly trend - as defined by the 20 ema - is still up, although the move has now stalled 20 / 30 pips above last weeks high.

Just before FO price pulled back to the flat 5 min 30 ema before turning north again and giving a buy signal which managed to go 10 pips above the Asian Session high of 6434.....so an easy 30+ pips available.

The Lower High 16 mins later was a nice sell ~the 6434 level and I put my TP at the 30 ema......now I'm waiting for the Brits......
Right at LO price had got back up to the confluence of todays open, yesterdays high and the MR1 levels and as soon as the Brits started selling, I joined them, exiting in the spike down to the 6375 level.....http://cdn.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
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