Psych Levels, Pivots, and Trendlines - Resurrected | Page 214 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,261
  • Oct 23, 2009 4:21am Oct 23, 2009 4:21am
The purple lines are SR zones as defined by the previous swing high on the daily chart below (supply greater than demand), and the orange line is bottom of the SR zone of the the weekly as defined by a shooting star on weekly a point where supply was greater than demand.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP.jpg Size: 66 KB
  • #4,262
  • Oct 23, 2009 4:37am Oct 23, 2009 4:37am
Quoting Islander
GM - NP.....here it is....
Cheers.
  • #4,263
  • Oct 23, 2009 5:05am Oct 23, 2009 5:05am
FYI I bought the test of the 6400 level - but LOL I dont yet know where I'm going to put my TP - I have a gap on my 1 min chart from 6594 down to 6550.....http://cdn.forexfactory.com/images/icons/icon11.gif......perhaps I'll just let my trailing stop take me out.....
Trading Levels with WRBs
  • #4,264
  • Oct 23, 2009 6:06am Oct 23, 2009 6:06am
As requested.....
Attached File(s)
File Type: ex4 marketprofile_scrat.ex4   8 KB | 317 downloads
Trading Levels with WRBs
  • #4,265
  • Oct 23, 2009 7:03am Oct 23, 2009 7:03am
[quote=Islander;3171289]FYI I bought the test of the 6400 level - but LOL I dont yet know where I'm going to put my TP - I have a gap on my 1 min chart from 6594 down to 6550.....http://cdn.forexfactory.com/images/icons/icon11.gif......perhaps I'll just let my trailing stop take me out.....[/quote]

and it did for 22 pips.....now long off the 6375 level....
Trading Levels with WRBs
  • #4,266
  • Oct 23, 2009 7:37am Oct 23, 2009 7:37am
Quoting Islander

and it did for 22 pips.....now long off the 6375 level....
nice....
  • #4,267
  • Oct 23, 2009 10:57am Oct 23, 2009 10:57am
Quoting Islander
As requested.....
Thank you, very helpful.
Be like water.
  • #4,268
  • Oct 26, 2009 2:14am Oct 26, 2009 2:14am
GM all -the 6250 level was the Asian Low with several HLs since. I got long on the last one when the rising 5m 30 ema acted as support at 6280.

Fibowise the retracement from Fridays huge fall doesnt start until 6418, but so far price has stalled at the earlier Asian high at 6316....lets see what The Brits do...
Trading Levels with WRBs
  • #4,269
  • Oct 26, 2009 2:54am Oct 26, 2009 2:54am
Quoting Islander
GM all -the 6250 level was the Asian Low with several HLs since. I got long on the last one when the rising 5m 30 ema acted as support at 6280.

Fibowise the retracement from Fridays huge fall doesnt start until 6418, but so far price has stalled at the earlier Asian high at 6316....lets see what The Brits do...
There was an 8 pip spike above this level exactly half way through Frankies Hour, after which I exited and reversed to short
Trading Levels with WRBs
  • #4,270
  • Oct 26, 2009 3:14am Oct 26, 2009 3:14am
Quoting Islander
There was an 8 pip spike above this level exactly half way through Frankies Hour, after which I exited and reversed to short
A nice run down to the 6275 level 8 mins before FO - 1 min and 5 min hammers, so I exited and banked my pips before I go out.....http://cdn.forexfactory.com/images/icons/icon7.gif....BFN
Trading Levels with WRBs
  • #4,271
  • Oct 26, 2009 3:23am Oct 26, 2009 3:23am
I'm always on the 1 min at this time of the day - and short again after the pull back.....
Attached Image (click to enlarge)
Click to Enlarge Name: oct 26 cable 1 min 0920.gif Size: 16 KB
Trading Levels with WRBs
  • #4,272
  • Oct 26, 2009 3:26am Oct 26, 2009 3:26am
Nice trading as usual Islander. Can you confirm for me that LO is in about 30 mins. time? Thanks.
  • #4,273
  • Oct 26, 2009 12:41pm Oct 26, 2009 12:41pm
Quoting orientos
Nice trading as usual Islander. Can you confirm for me that LO is in about 30 mins. time? Thanks.

LOL - 9 hours later I'm just back - and yes, you are correct.....Europe's just gone back on to "normal" time....clocks back 1 hour yesterday
Trading Levels with WRBs
  • #4,274
  • Oct 26, 2009 3:13pm Oct 26, 2009 3:13pm
Hey Guys,

Just wanted to show you a little project I've been working on....

Of course Price action is the main point of my trading, But I have had recent success with this little side project...

The following Print Screens are of those trades that I took on my demo account...

I use a trendline breakout of the HAMA and see if prices pulls back into the trend channel....If not then the move is valid...

Rectangle is an entry point...
Triangles are possible take profit points...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur2 showoff.gif Size: 26 KB
Click to Enlarge Name: eur showoff.gif Size: 32 KB
  • #4,275
  • Oct 27, 2009 2:51am Oct 27, 2009 2:51am
Quoting Kamikaze456
Hey Guys,

Just wanted to show you a little project I've been working on....

Of course Price action is the main point of my trading, But I have had recent success with this little side project...

The following Print Screens are of those trades that I took on my demo account...

I use a trendline breakout of the HAMA and see if prices pulls back into the trend channel....If not then the move is valid...

Rectangle is an entry point...
Triangles are possible take profit points...

Hi K - I assume that the HAMA is a modified Hull MA. I use the 5 min 30 EMA in a similar manner and likewise have a 15ema on my 15 min chart....pullbacks to these MAs are great entries or add-ons.
Trading Levels with WRBs
  • #4,276
  • Oct 27, 2009 3:08am Oct 27, 2009 3:08am
GM all - I sold the LH just under the 6350 level 5 candles before FO and banked pips when it failed to reach the 6300 level.

However, I was late reversing to long and so missed a lot of the 75 pip bounce into FO - the breaking of the 30 ema kept me thinking short AND I FAILED to notice how the rising 30 ema was supporting the Euro......this is often a great indicator when cable is making swift spikes....http://cdn.forexfactory.com/images/icons/icon12.gif

Now I'm short off the retest of the 6375 level - again aided by € reversing at its DP of 4923 at FO.....
Trading Levels with WRBs
  • #4,277
  • Oct 27, 2009 3:28am Oct 27, 2009 3:28am
Quoting Islander
GM all - I sold the LH just under the 6350 level 5 candles before FO and banked pips when it failed to reach the 6300 level.

However, I was late reversing to long and so missed a lot of the 75 pip bounce into FO - the breaking of the 30 ema kept me thinking short AND I FAILED to notice how the rising 30 ema was supporting the Euro......this is often a great indicator when cable is making swift spikes....http://cdn.forexfactory.com/images/icons/icon12.gif

Now I'm short off the retest of the 6375 level - again aided by € reversing...

Darn it - I was too slow putting in my limit order to take partial profits at the 61.8% level and so missed a fast 40 pips......
Trading Levels with WRBs
  • #4,278
  • Oct 27, 2009 3:33am Oct 27, 2009 3:33am
Quoting Islander
Hi K - I assume that the HAMA is a modified Hull MA. I use the 5 min 30 EMA in a similar manner and likewise have a 15ema on my 15 min chart....pullbacks to these MAs are great entries or add-ons.
Lol Yeah you have got it.... It throws up some really nice oppurtunities but for me at the moment it's about pivots and PRICE ACTION!!!!!!
  • #4,279
  • Oct 27, 2009 8:14am Oct 27, 2009 8:14am
Hey all,

Got a Trade on the EUR/GBP saw a nice double bottom...

Trendline broken...S1 tested and a volume spike...so hopefully...
soon enough...
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 22 KB
  • #4,280
  • Oct 28, 2009 4:27am Oct 28, 2009 4:27am
Nice trade just completed on the 5m eur/jpy.

A shooting star touched the 30ema and entry was under the low of the candle that breached the 1.3500 psych-line. There followed two nice strongish momentum candles that finally signalled my exit at just above the 1.3450 psych-line.
Attached Image
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