Psych Levels, Pivots, and Trendlines - Resurrected

No trades for me as yet this morning as the various hourly, 4hr, daily not lining up one way or the other.

Me neither...nothing is feeling as if it's a good set-up....I'm sitting on the fence [probably till after the 9:00 news wave goes

Islander was probably all over this 75 psych level move down.

Hindsight is a wonderful thing, I didn't have these fibs up which may have added some fuel for a sell. Struggle at 62% fib at psych level and M M3.

GM all - I'm tied up with other things and short of time today, but I took a sell off the last equal high before FO off the 1 min chart and banked pips as it fell down to Fridays high, which was support an hour earlier.

The bounce was very fast and I didnt take it, but then price held at the 575 level, finally putting in a LH 17 mins before LO.....I was late getting short, but the break of the flat 5m 30 ema / 550 level was an easy sell.

So far the 470 / 75 level is holding, this is a good support area from Friday and overnight so I've taken partials, holding the remainder open in case we spike down to test the DP which I have at 6434....chart to follow....

The 6475 held, now with a 1 min HL, so I've closed my shorts and taken a small long

The 50% retrace of the European action this morning was at the 6525 level - also the falling 5m 30 ema. Price only mgot up to 6520, so I exited and reversed to short which is also in line with PA in both € and Swissy.....

Signals off my 1 min chart - I closed my last short when it made a HL, but didnt buy in front of the data....I'm finished for now, back for NY....

GM all - last night I left a limit sell order just under the 6450 level. This was hit early on - I also had one under the 6500 level which was not hit.

My TP a little above the 400 level was hit before I got up, so I've started the day with good pips in the bank.

I then sold the LH at the 5m 30 ema half an hour before FO banked a few pips before buying the HL 10 mins before FO.....here I exited half at the 30 ema and the remainder at the days open level of 6440, this spike up being due to the slightly better than expected NAtionwide HPI data.

The BOJ are stirring up the Yen and have a press conference at mid FH, so I'm trading smaller size till that's over....

I sold after the DP / 6475 levels held and banked a few pips as it stalled....LOL, I should have taken one of Karmo's pills as it dropped back to the 450 level.....

This provided an excellent pull back to the 5m 30ema Buy as The Brits started buying right at the LO - helped a little by the falling dollar - and its looking as if this move will continue into the MAnufacturing PMI due in half an hour.....now is this a "buy the rumour, sell the news" move......TWT....

The data came out early and it was bad...51.8 vs the expected 54.1.....I had already put on a small short and so took some quick pips and have now sold larger size off the bounce looking for a bigger fall......IF Swissy can bounce up off its 1.0000 level this will help.....back for NY....BFN...

TP around 6500 / rising 30 ema was hit....looking for a bounce to sell again

The way I see it.

A strong move up (big dogs seeing Dubai issue not the end of the world??), daily upper TL around 6650, 4hr shows M M3 around that level so there could be some volatility there.

Should we go below 6585 I'll be looking at sells but for now more interested in areas to buy. If we fall from here 6550, 38% fib, D P or below that 6500 with a W pivot, even number and 50% fib just above looks like good areas to buy. TWT.

GM all - I took another sell 10 mins before FO when price pulled back up to the falling 5m 30ema, just closed in the push down to the DP / 550 confluence where I've reversed with a small buy looking for 10 - 15 pips before adding another sell.....

[quote=Islander;3275283]GM all - I took another sell 10 mins before FO when price pulled back up to the falling 5m 30ema, just closed in the push down to the DP / 550 confluence where I've reversed with a small buy looking for 10 - 15 pips before adding another sell.....[/quote]

Banked those pips and sold the 5m 30 ema

[quote=Islander;3275409] LOL - this morning cable's up and down faster than a jack-in-the -box and IMO so far just reacting to the fluctuations in the dollar (Swissy) all be it with larger moves....my last sell was a wash as after LO price got back to the 61% retrace of its (typical) mid FH bounce before heading north.....I bought the break of the 5m 30ema, closing at the days open level - ALSO the down trending line from yesterday's high, where I've taken another short.....Swissy has just held for the third time at its MS1 level, so I'm hoping that it will bounce and regain its 1.0000 level....TWT

I just sold the hit of the upper channel - a Gann + 2.5 angle that held yesterdays rally - UK data due now....

Today was one of those days where my style of trading works well. Try as I might I do not trade ranges as Islander does.

Earlier postings suggested 6587 as a support area from Asian session. Coming into FH the bounces from here were lower and lower suggesting it was going to fail and go lower following the previous 2 hourly candles down. Lower highs in line with hourly direction.

We sold 6587 and exited at the previously discussed 1st target of 6550 the psych level, D P, 38% fib confluence. If you are saying to yourself they're crazy selling there I'll stress that this is strictly due to the lower bounces from a support level and I cannot say when this set up last failed me.

We considered buying 6550 but didn't get in after all.

The hourly candle then closed as a large hammer/doji right on 21 ema suggesting up. We bought the higher low 6580 exited at W M 3 and bought again after the small hammer above 6600 exiting at M M3 6658.

Probably out now till US session, oops its just popped up whilst I'm typing so it looks like we are definitely out now.

Oh yes on the move down I did take a 1 min entry selling below 6575, that got stopped out for -12. It was perhaps silly not to have waited for a 5 min decent candle, some of these work some don't.

Please don't worry about the fozzy rsi indi, I'm playing with divergence again thats all.