Psych Levels, Pivots, and Trendlines - Resurrected | Page 220 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,381
  • Nov 15, 2009 12:10pm Nov 15, 2009 12:10pm
Hey,

How's everyone been trading lately...?
Sorry I haven't been posting I was working on a little project which I hope to unveil to you later this week.

Thanks
  • #4,382
  • Nov 16, 2009 2:06am Nov 16, 2009 2:06am
GM all - and welcome back K456

A very slow Asian Session, so I'm in "hit and run" mode. The HL ~ 40 mins before FO gave me a nice long - the MAs are still green - and I exited in the spike thru the R1 level at 6731.

Took another buy 20 mins later when the small retrace stalled and banked more pips in the push up towards the 750 level. This last push up has broken above the descending TL on my 15m / 60m charts - but IMO the R1 and 750 levels are more important and its those that I'm watching.

I still have a partial long from earlier with my stop behind the still rising 5m 30 ema......now lets see if The Brits put some life into this dull market.....TWT
Trading Levels with WRBs
  • #4,383
  • Nov 16, 2009 2:11am Nov 16, 2009 2:11am
Hey,

It all lies on the R1 level.. I have a sell on 6743 and will exit at the end of this bar if it finishes above R1

currently 20 pips up...

I think I'm going to watch my position from work...I'm off .....will talk later...

Happy trading,
  • #4,384
  • Nov 16, 2009 2:18am Nov 16, 2009 2:18am
Quoting Kamikaze456
Hey,

It all lies on the R1 level.. I have a sell on 6743 and will exit at the end of this bar if it finishes above R1

currently 20 pips up...

I think I'm going to watch my position from work...I'm off .....will talk later...

Happy trading,
Nice sell - it was against my rules, so I passed although it was clear off the 750 level on my 1 min chart - now to see IF this is a Big Ben fakeout and it takes off OR if 750 turns it south.....TWT
Trading Levels with WRBs
  • #4,385
  • Nov 16, 2009 2:34am Nov 16, 2009 2:34am
Volume-wise the 2 high vol candles so far are a green spinning top in the 7:20 GMT candle right at the R1 level - so loads of action with no clear decision and later at 8:10 GMT an average sized red harami closing in the area of the Days Open level - a much watched and important level.

The 5m 30 ema is at 6727 and has no turned red, so I'm looking for a bounce up towards that level / R1 .....IF price stalls there I'll take a small sell and see what happens.....the longer MAs are still green......
Trading Levels with WRBs
  • #4,386
  • Nov 16, 2009 2:48am Nov 16, 2009 2:48am
sell order taken from my Friday's plan at 740, first target 650 area. Lets see how she does.
  • #4,387
  • Nov 16, 2009 2:50am Nov 16, 2009 2:50am
I downloaded something from vsa thread that my mt4 did not like froze up completely. Just moved all indi's templates etc and got new mt4 gu set up. Now for ej and eu. What a pain!!!!!!!!!

Nice to see some nice trades guys.
  • #4,388
  • Nov 16, 2009 2:55am Nov 16, 2009 2:55am
Quoting Porkpie
sell order taken from my Friday's plan at 740, first target 650 area. Lets see how she does.

WTG - I joined you after the bounce failed ~ the 38% retrace....already banked as I'm still in hit and run mode......I'll sell any bounce into the fib decision zone 713 to 727.....
Trading Levels with WRBs
  • #4,389
  • Nov 16, 2009 2:57am Nov 16, 2009 2:57am
Quoting Porkpie
sell order taken from my Friday's plan at 740, first target 650 area. Lets see how she does.
Very nice, 4 hr trendline worked like a charm.
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  • #4,390
  • Nov 16, 2009 2:59am Nov 16, 2009 2:59am
Quoting Vantage
I downloaded something from vsa thread that my mt4 did not like froze up completely. Just moved all indi's templates etc and got new mt4 gu set up. Now for ej and eu. What a pain!!!!!!!!!

Nice to see some nice trades guys.

LOL V - what a way to start your week - the one that bugs me is when Windows does an update and restart overnight and so I wake up and have to restart my 3 trading programs....
Trading Levels with WRBs
  • #4,391
  • Nov 16, 2009 3:01am Nov 16, 2009 3:01am
Quoting Islander
WTG - I joined you after the bounce failed ~the 38% retrace....already banked as I'm still in hit and run mode......I'll sell any bounce into the fib decision zone 713 to 727.....

and I did
Trading Levels with WRBs
  • #4,392
  • Nov 16, 2009 3:20am Nov 16, 2009 3:20am
Quoting Islander
and I did
Bit of turbulence around the 700 level as expected. Would pasengers please stay seated and put on your seat belts. The toilet is no longer in use until the seatbelt sign has been switched off. Thank you.
  • #4,393
  • Nov 16, 2009 3:32am Nov 16, 2009 3:32am
Quoting Porkpie
Bit of turbulence around the 700 level as expected. Would pasengers please stay seated and put on your seat belts. The toilet is no longer in use until the seatbelt sign has been switched off. Thank you.

LOL - I took partials at the MR1 level of 6690 and I now have to go out and play boats - back for NY......
Trading Levels with WRBs
  • #4,394
  • Nov 16, 2009 6:50am Nov 16, 2009 6:50am
With price struggling lower a higher low at psych level and W P provided a good buy.
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  • #4,395
  • Nov 16, 2009 6:55am Nov 16, 2009 6:55am
With price at 4 hr pivot again we'll either hold for a lower high on 4 hr or break up and 1st target would be daily TL at 6821. Assuming of course we can top W M3 and 38% ext of Fri's range at 6755, 6800 and high from 11 Nov of course.
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  • #4,396
  • Nov 16, 2009 6:57am Nov 16, 2009 6:57am
1 hr chart.
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  • #4,397
  • Nov 16, 2009 7:07am Nov 16, 2009 7:07am
Quoting Vantage
With price struggling lower a higher low at psych level and W P provided a good buy.
Nice one V.

I had a limit order at the DP +10 which wasnt hit, so having seeing the HL off the 675 level I jumped in as soon as I got back and put in a 20 pip exit which got hit whilst I was having lunch....now I'm waiting for the US data...
Trading Levels with WRBs
  • #4,398
  • Nov 16, 2009 7:28am Nov 16, 2009 7:28am
With me having to download charts again and set up from scratch I forgot to put supp/res areas in . Daily shows some key reasons for 6725-ish to be a tough area to crack in addition to the 4 hr TL.
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  • #4,399
  • Nov 16, 2009 7:38am Nov 16, 2009 7:38am
The area 6729 also seems to be base of inverted head and shoulders so if it breaks upwards suggests a 1000 pip move up!!!
  • #4,400
  • Nov 17, 2009 12:31am Nov 17, 2009 12:31am
Quoting Vantage
With price at 4 hr pivot again we'll either hold for a lower high on 4 hr or break up and 1st target would be daily TL at 6821.
Daily TL did get hit and we are still above the res level of 6736. Next key area for me 7040 which goes back to 2005, I'm sure the big dogs will try to get there.
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