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Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,481
  • Nov 20, 2009 2:53am Nov 20, 2009 2:53am
Quoting Islander
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 !!
Well it did break, but with weird PA on the 1 min - no wide candles, no follow thru = no conviction.....mm - I smell a Freaky Friday fakeout.....shorts closed and a small long taken.....
Trading Levels with WRBs
  • #4,482
  • Nov 20, 2009 2:54am Nov 20, 2009 2:54am
WM2 held at 6590 and we have pushed above 6600 again. Personally I hate the chop above/below an even number and will need trading to stay above/below to decide on any further trades.
  • #4,483
  • Nov 20, 2009 2:56am Nov 20, 2009 2:56am
Quoting Islander
Well it did break, but with weird PA on the 1 min - no wide candles, no follow thru = no conviction.....mm - I smell a Freaky Friday fakeout.....shorts closed and a small long taken.....
Anything to do with 1 min ema going green? What does that mean?
  • #4,484
  • Nov 20, 2009 2:57am Nov 20, 2009 2:57am
Quoting Vantage
EMA gone green, Islander is it jealous?????

LOL - so I took off my Bermudas and took the "allowed" buy after those 4 minute 1 min candles.....TPd at yesterdays low for 15 pips.....

I'm also watching € which is playing around its 4900 level - the mid point of its last 2 weeks range....
Trading Levels with WRBs
  • #4,485
  • Nov 20, 2009 3:00am Nov 20, 2009 3:00am
Quoting Islander
LOL - so I took off my Bermudas and took the "allowed" buy after those 4 minute 1 min candles.....TPd at yesterdays low for 15 pips.....
'nuff said.
  • #4,486
  • Nov 20, 2009 3:09am Nov 20, 2009 3:09am
Quoting Vantage
'nuff said.
LOL - remember that its just an alert - you have to see the PA and trade the PA......

Sold after the YLL was rejected and already closed - these 1 min candles are crazy....
Trading Levels with WRBs
  • #4,487
  • Nov 20, 2009 3:16am Nov 20, 2009 3:16am
Got 2 missed the move below 6600 now need a retrace as I think we could be targeting W S1 at 6500 - ish and low from 12 Nov, TWT.
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  • #4,488
  • Nov 20, 2009 3:17am Nov 20, 2009 3:17am
Quoting Islander
LOL - remember that its just an alert - you have to see the PA and trade the PA......

Sold after the YLL was rejected and already closed - these 1 min candles are crazy....
back to back tiny dojis then a restet of the low.....a small range H vol 5 min candle and a green EMAZero - so another small long - small stop too...
Trading Levels with WRBs
  • #4,489
  • Nov 20, 2009 3:18am Nov 20, 2009 3:18am
4hr chart.
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  • #4,490
  • Nov 20, 2009 3:27am Nov 20, 2009 3:27am
Quoting Vantage
4hr chart.
It will be interesting to see where the candle closes.....

I took a couple of pips out of that long and now we have a 1 min graveyard doji as the low.....

Whilst € and Swissy stay in a tight range I dont see cable moving far - the last closed 5 min was a small green spinning top - again with high volume, so there must be buyers down here.....
Trading Levels with WRBs
  • #4,491
  • Nov 20, 2009 3:39am Nov 20, 2009 3:39am
I have D M1 at 6562, had a sell at 6572 out +6 as it looks for now that 6562 may hold. Trichet talking in an hour and we've had a good run down so I'm outta here for a break as I've lost connection to platform (lots of storms here this week) a few times in last 10 mins.
  • #4,492
  • Nov 20, 2009 3:54am Nov 20, 2009 3:54am
Quoting Vantage
I have D M1 at 6562, had a sell at 6572 out +6 as it looks for now that 6562 may hold. Trichet talking in an hour and we've had a good run down so I'm outta here for a break as I've lost connection to platform (lots of storms here this week) a few times in last 10 mins.

Its also time for me to go out.....as price is holding around this MS1 level, the EMAAngle is green on 15m, 5m and 1m AND we have a 5m graveyard doji as the low I've taken another small buy looking for a pull back towards the falling 30 ema currently just under the 600 level....again a tight stop so a 3:1 RR.....

IF this level fails, the next is todays S2 close to the 525 level.....

Back for NY open ....BFN
Trading Levels with WRBs
  • #4,493
  • Nov 20, 2009 7:20am Nov 20, 2009 7:20am
Quoting Islander
Its also time for me to go out.....as price is holding around this MS1 level, the EMAAngle is green on 15m, 5m and 1m AND we have a 5m graveyard doji as the low I've taken another small buy looking for a pull back towards the falling 30 ema currently just under the 600 level....again a tight stop so a 3:1 RR.....

IF this level fails, the next is todays S2 close to the 525 level.....

Back for NY open ....BFN

LOL - it did that that was -10 pips for getting too close to the action - now its around its S3 level of 6452 and I'm trying another small long off this S3 area - already at BE+1

Its noticable how the MS2, then the S2 and now the S3 levels have all held the fall - for a time......I must re-read The Dove work on pivots and how to trade them.....
Trading Levels with WRBs
  • #4,494
  • Nov 20, 2009 7:40am Nov 20, 2009 7:40am
OK - my last post for this week is this chart. After the rejection of the DP well before FO there were 3 clear sell Signals as price pulled back to the falling 30 ema - magenta.

From the first signal to the pull back to that EMA that has just happened the drop was 155 pips......LOL - memo to self .....sometimes the best action is just to leave the trade with a trailing stop around the 30 ema.....a good weekend to all....
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Trading Levels with WRBs
  • #4,495
  • Nov 20, 2009 8:28am Nov 20, 2009 8:28am
Quoting Vantage
I think we could be targeting W S1 at 6500 - ish and low from 12 Nov, TWT.
Hit 6500 W S1 and below, whilst I must trade US session/UK close more I'm not starting on a Fri after 200+ fall.

Cheers be back next week.
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  • #4,496
  • Nov 20, 2009 8:30am Nov 20, 2009 8:30am
We broke through some key levels 6670 going back a long time. The inverted head and shoulders failed (for now) perhaps next week will bring 6260?
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  • #4,497
  • Nov 20, 2009 8:38am Nov 20, 2009 8:38am
Quoting Islander
OK - my last post for this week is this chart. After the rejection of the DP well before FO there were 3 clear sell Signals as price pulled back to the falling 30 ema - magenta.

From the first signal to the pull back to that EMA that has just happened the drop was 155 pips......LOL - memo to self .....sometimes the best action is just to leave the trade with a trailing stop around the 30 ema.....a good weekend to all....
Funny how the market tries to shake you off its back some days and then allows you to go with its flow nice and easy other times (thats if you can trust it!). It is schizophrenic. So if the market is a reflection of the participants actions then what does that make the participants - just put me in the straight jacket now and tighten those buckles...
  • #4,498
  • Nov 22, 2009 6:26pm Nov 22, 2009 6:26pm
Welcome to the start of another week, folks.

This could become a habit e.g. getting a nice trade in before hitting the sack!

The chart says it all...pretty self-explanatory. Entry just above the high of the Higher Low Pin-bar after price meandered along the mid-point line. Speaking for myself, I never know what to expect at this time of night, which is why I exited when I did.......just as price started showing the first sign of weakness after a couple of high-momentum candles. Perhaps during the day I'd have let it run...who knows?
Bed, here I come!!
Attached Image
  • #4,499
  • Nov 23, 2009 12:09am Nov 23, 2009 12:09am
Quoting eyevoltage
Welcome to the start of another week, folks.

This could become a habit e.g. getting a nice trade in before hitting the sack!

The chart says it all...pretty self-explanatory. Entry just above the high of the Higher Low Pin-bar after price meandered along the mid-point line. Speaking for myself, I never know what to expect at this time of night, which is why I exited when I did.......just as price started showing the first sign of weakness after a couple of high-momentum candles. Perhaps during the day I'd have let it run...who knows?
Bed,...
Nice one Asian session can give some nice trades, I'd be too tired to do it though!!
  • #4,500
  • Nov 23, 2009 12:14am Nov 23, 2009 12:14am
Daily chart attached, 3 big down days stopped at the previous resistance area highlighted 6462. The previous higher low has been broken (low of doji 6500 ish) so my first guess is move up and a lower high fall again some time.
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