Psych Levels, Pivots, and Trendlines - Resurrected | Page 224 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,461
  • Nov 20, 2009 1:42am Nov 20, 2009 1:42am
With 6674 an obvious problem from previous chart I was a little late to computer this am and missed this perfect lower high, shooting star reject of W P, D P and 75 level.

Just showing as trading doesn't get much better than that.
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  • #4,462
  • Nov 20, 2009 1:46am Nov 20, 2009 1:46am
Quoting Islander
GM all.

Cable turned south off its DP / 6675 confluence and then broke its 5m 30 ema, so I'm short.....now waiting for Euro and Swissy which are close to their DPs to break them.....
This first fall easily gave my FH 20 pips before a pull back to the 650 level / 30 ema and another sell that gave another easy 20 pips...
Trading Levels with WRBs
  • #4,463
  • Nov 20, 2009 1:50am Nov 20, 2009 1:50am
GM V - I trust that you found my reply useful - any input on using the EMAAngleZero will be gratefully received.......also, I've now modified my template and removed that reference to the sma scalper - I did look at them - just more clutter to take your eye off PA.....thanks for the tip off....
Trading Levels with WRBs
  • #4,464
  • Nov 20, 2009 1:59am Nov 20, 2009 1:59am
Quoting Islander
Excuse me for posting before EV, this is how I view these levels.....the 100s are the most important then the 50s and I personally only put the 25 / 75 levels up when price has reacted around them - this saves clutter.

Obviously, ANY psych level that has acted as S or R before becomes MORE important than an unrespected level.....

Also, remeber that I look at an area or band, so for me +/- 10 pips is fine and means that price has reacted to that level.....just my opinion....http://cdn.forexfactory.com/images/icons/icon12.gif
Hi Islander, at what point do you say, ok that SR area has been used a few times now it is unlikely to be of any relevance? How many rejections of that level. I think of these levels as chopping down a tree, too many touches and it weakens...
  • #4,465
  • Nov 20, 2009 2:00am Nov 20, 2009 2:00am
Quoting Islander
GM V - I trust that you found my reply useful - any input on using the EMAAngleZero will be gratefully received.......also, I've now modified my template and removed that reference to the sma scalper - I did look at them - just more clutter to take your eye off PA.....thanks for the tip off....

LOL - seeing your chart above, that may be a little harsh ......I'll take another look - what settings are you using?
Trading Levels with WRBs
  • #4,466
  • Nov 20, 2009 2:03am Nov 20, 2009 2:03am
Hey guys,

Due to personal issues I can't continue running the blog...

I hope you lot don't think I'm a prick or a scammer because I am not...I am a genunine person...

I will continue posting here because this is like my home....

I hope you lots don't think I'm a prick or anything...it's just there is too much happening in my life...

Sorry guys...

Anyway on a lighter note heres a trade I have just taken...looking for some bounce off a support line...
Attached Image (click to enlarge)
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  • #4,467
  • Nov 20, 2009 2:07am Nov 20, 2009 2:07am
Quoting Islander
GM V - I trust that you found my reply useful - any input on using the EMAAngleZero will be gratefully received.......also, I've now modified my template and removed that reference to the sma scalper - I did look at them - just more clutter to take your eye off PA.....thanks for the tip off....
GM Islander will be looking at ema to see if it helps, I've always liked divergences.
  • #4,468
  • Nov 20, 2009 2:08am Nov 20, 2009 2:08am
Quoting Kamikaze456
Hey guys,

Due to personal issues I can't continue running the blog...

I hope you lot don't think I'm a prick or a scammer because I am not...I am a genunine person...

I will continue posting here because this is like my home....

I hope you lots don't think I'm a prick or anything...it's just there is too much happening in my life...

Sorry guys...

Anyway on a lighter note heres a trade I have just taken...looking for some bounce off a support line...
No problem, welcome here.
  • #4,469
  • Nov 20, 2009 2:09am Nov 20, 2009 2:09am
1st trade of day grabbed 18 here nice lh on 5 min. Entry 1 min shown when we broke through M2.
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  • #4,470
  • Nov 20, 2009 2:11am Nov 20, 2009 2:11am
Quoting Vantage
No problem, welcome here.

Cheers Mate

Cable has just dropped I can't se any reason...Maybe once it breaks 1.6600 we could see it bounce back or carry on downwards...

I'm off to work
  • #4,471
  • Nov 20, 2009 2:21am Nov 20, 2009 2:21am
Quoting Islander
LOL - seeing your chart above, that may be a little harsh ......I'll take another look - what settings are you using?
Period avr 8, trix period 3, wait time 2, mode averages 1 2 and 3 all 1, input price 0, ma method 3, applied pice 6. I like it as it gives an audible alert and then I look at next 1 min bounce for entry.
  • #4,472
  • Nov 20, 2009 2:22am Nov 20, 2009 2:22am
Quoting Porkpie
Hi Islander, at what point do you say, ok that SR area has been used a few times now it is unlikely to be of any relevance? How many rejections of that level. I think of these levels as chopping down a tree, too many touches and it weakens...

I must admit that I've not thought of it that way....mmm....

I tend to look at the PA as it approaches - the velocity of the move and also the volume.....

Like right now in cable at yesterdays lows - a long HV 5m candle follwed by a shorter spinning top type with similar vol AND a green EMAAngle have allowed me to take a small long as the support held....on the 1 min no conviction to the push down, just short candles....
Trading Levels with WRBs
  • #4,473
  • Nov 20, 2009 2:25am Nov 20, 2009 2:25am
Quoting Kamikaze456
Cheers Mate

Cable has just dropped I can't se any reason...Maybe once it breaks 1.6600 we could see it bounce back or carry on downwards...

I'm off to work
Good luck with buy but with continual lower highs personally I think you may have a problem.
  • #4,474
  • Nov 20, 2009 2:26am Nov 20, 2009 2:26am
Quoting Vantage
Period avr 8, trix period 3, wait time 2, mode averages 1 2 and 3 all 1, input price 0, ma method 3, applied pice 6. I like it as it gives an audible alert and then I look at next 1 min bounce for entry.

Thx - I try them - also, what's the MA it too looks better than the 40 EMA that I threw on just to have a faster one....lol it wasnt very well researched....
Trading Levels with WRBs
  • #4,475
  • Nov 20, 2009 2:27am Nov 20, 2009 2:27am
Quoting Islander
I must admit that I've not thought of it that way....mmm....

I tend to look at the PA as it approaches - the velocity of the move and also the volume.....

Like right now in cable at yesterdays lows - a long HV 5m candle follwed by a shorter spinning top type with similar vol AND a green EMAAngle have allowed me to take a small long as the support held....on the 1 min no conviction to the push down, just short candles....
I'll stick to my small bounce off important area = big chance of fall theory.
  • #4,476
  • Nov 20, 2009 2:30am Nov 20, 2009 2:30am
Quoting Islander
Thx - I try them - also, what's the MA it too looks better than the 40 EMA that I threw on just to have a faster one....lol it wasnt very well researched....
Its an 8 linear weighted I use this one setting 8, 3, 6.
Attached File(s)
File Type: ex4 MA in Color_wAppliedPrice.ex4   5 KB | 324 downloads
  • #4,477
  • Nov 20, 2009 2:34am Nov 20, 2009 2:34am
Obviously we are at important levels highlighted by the above daily/4 hr charts above.

No divergence that I see on Islanders EMAAZ and we have continual lower highs on 5 min. 15 min shooting star but vol falling off so maybe .........

I'll stick to selling until a definite hl on 5 min for now.
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  • #4,478
  • Nov 20, 2009 2:34am Nov 20, 2009 2:34am
Quoting Vantage
I'll stick to my small bounce off important area = big chance of fall theory.

LOL - that's a nice theory......the small sized buy hit my TP of 10 pips followed by another sell off the 625 area / earlier low all under the falling 30 ema ......will it break this time.....TWT !!
Trading Levels with WRBs
  • #4,479
  • Nov 20, 2009 2:48am Nov 20, 2009 2:48am
Grabbed another 14 here exited when 6600 held, then had my brother on the phone and missed the fall below, test of and reject of 6600.
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  • #4,480
  • Nov 20, 2009 2:49am Nov 20, 2009 2:49am
Quoting Vantage
Grabbed anoth 14 here exited when 6600 held, then had my brother on the phone and missed the fall below, test of and reject of 6600.

EMA gone green, Islander is it jealous?????
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