Psych Levels, Pivots, and Trendlines - Resurrected

If its the same code as mine its a (nice looking) 21 ema.

One of the benefits using an ema like this is that they approximate an rsi. If price is above the ema then you can bet your bottom dollar price will be above the 50 level on rsi (excluding silly combos like say a 5 ema and 2700 rsi). If that helps.

Been indisposed last few days not traded much just the odd lurk!! Hope to be back soon. Cheers.

Hi, Eyevoltage

Just wanted to ask when you trade I notice when a doji or spinning top appears it appears blue on your chart..

How do you get that?

P.S Nice trade

Do the following (if you're using MT4).....

Right-click on the chart
Select "Properties"
Select "Colors"
Select "Line Graph" and change the colour to whatever you want!

Hope that helps.

Thanks for the speedy response

Hey where did all you guys go

Had a rough week with all the chop and lack of momentum, good trades got eaten up by the bad ones, probably my worst week in a while ..

How did everyone do

First trade I had was after the 2 1hr shooting stars about 8 hrs ago. They rejected the 38% fib of y's range at 6397. As the 4 hr was not agreeing with a move down (nice solid higher close) if this trade turned out to be a scalp we were fine with that. 5 min chart, we sold the lower high move below the brown line our days open. When M M3 pivot held exited at +13.

The 1 hr then had a nice hammer rejecting the M M3 at 6361, this was now suggesting up in line with the previous positive close on 4 hr. This normally means cha - ching but!!!!!! OK 15 min chart showed a nice hammer we bought just above 6382 after the nice 5 min hammer and engulfing candle. We then lost contact after hitting +17 I think it was and exited at +10 when platform came back up. Very, very disapointing, usually if we can move stop and enter a target we'll let run but didn't have chance to. It then ran up about 50-60, oh well.

We then had a small thunder storm so switched everything off and had a break.

Put computer back on and had this nice pull back to 25 level for +11. This was the period where price struggled to get through the high from 27 Oct 6438 so again we were happen to grab a nice little scalp.

When we lost contact with platform for 16 minutes we called it a day.

Somewhere in there we had a lower high sell that didn't follow through for -6.

All in all a good day CONSIDERING the amount of computer problems/storms etc etc even though the pips banked is actually not that hot. When we look at what price did in the time we were up, that was a good day.

well did just close a short cad posiion with the break of the 50 line and the pivot point, tp'd at the m3.. I think Ill call it a day

great trades vantage , how far is your sl usually on the trades and what spread you're getting?

OK another storm coming so I'm outta here .................. cheers.

Usually stops around 12-15. We are quite happy to exit at 5-8 anywhere around there if in a trade and something just not looking right.

Spreads with fxpro GU usually 1-2 when quiet 3. GJ 4 when quiet 6. EU 1 when quiet 2. EJ 2 when quiet 3-4.

thanks vantage, gona be perusing your charts now

Gbp just broke out decisively

ok kinda felt better about the last two trades..

didnt catch the breakout of the initial 6500 so took the break of 6520, got filled at 6530 and exited at 6555.

Will try to get pics up soon of trades

Just finished this trade on cable.

A nice little "railway tracks" pattern formed (blue rectangle) at the confluence formed by the 13ema, the S1 line and the xx75 psych-line. Entry just under the psych-line after that spike from the pin-bar, with the target in the xx50 psych-line/M1 confluence area.

Nice trade EV

I 'll wait NY open. Maybe many opportunities there.

Gd morning all

EJ breaks psycho 50, price above pivot. Just enter long above previous high.

ups... TP hit

Good trade, masut. I see you're using candlesticks now? Much easier on the eye, IMO!

Just a small trade on eur/jpy, after missing a better one earlier because of other commitments (Blue Rectangle).
A railroad track (RT) pattern forming on the confluence of the 13ema and the xx75 psych-line started me off, and my entry was just below the low of the "second track" candle. Exit after price pierced and then retreated from the M2 line.

Hi Guys, just popped in to see whats happening. EV - theres more colours & hell theres MAs too. Ive obviously missed something! Havent even had time to look at end-of-day trades yet.

Good to see you are all posting winning trades. Keep piling up the retirement funds. Pound is due a battering, but thats economics, not chart-reading.

TTFN

out of interest I just looked at loonie, as its oil inventories tomorrow (Wed). Daily chart today pushed off resistance. High volumes last few days. Could fall to 62% monthly fib & drop further this time to 78% or maybe today was a big dog set up for inventory-fuelled rise? Anyway, looks like interesting opportunities to watch if theres nowt 'appenin' in GU. Setup too risky for a daily trade on inventories day as I cant manage during day.

Chart attached but its a bit busy as I have a lot of different indi's & use weekly & monthly trends for daily trading

Good luck all

A trade from the 5m cable.

The consolidation along the R1/xx00 psych-line confluence led to a break up after the 13ema seemed to give price a "push" in the right direction. Entry and exit as indicated.