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Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,661
  • Dec 8, 2009 6:29am Dec 8, 2009 6:29am
Just a brief "off-topic" note....

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www.metatrader5.com
  • #4,662
  • Dec 8, 2009 11:42pm Dec 8, 2009 11:42pm
Will we break the daily lower TL today. I think so. I've put 2 possible psych levels from previous turn points on D chart. there are also a couple of W/M pivots in area 6175.

We'll see what FH brings.

I have to take some family to the airport so Mrs V is in charge this am.
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  • #4,663
  • Dec 9, 2009 1:38am Dec 9, 2009 1:38am
GM - a nice drop that was signalled by a 1 min LH off the MS1 level an hour before FO - if this pattern continues then I'm going to be getting up earlier http://cdn.forexfactory.com/images/icons/icon11.gif.....I jumped in short as soon as I got up half an hour later and pirated short pips before reversing to long......I was looking for the MS2 level, but the low also came in earlier than expected and I bought 10 pips higher than the level.

I banked my pips before the 50% retrace / 30 ema and reversed to short again....
Trading Levels with WRBs
  • #4,664
  • Dec 9, 2009 1:41am Dec 9, 2009 1:41am
Not that long ago Mrs V didn't know the difference between a lie and a fib.

Our analysis is above. Mrs V sold the lower high close at 6253, exit 6184 when the Ms1, 38% ext held for the 2nd time. Way to go Mrs V.
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  • #4,665
  • Dec 9, 2009 1:42am Dec 9, 2009 1:42am
Quoting Islander
GM - a nice drop that was signalled by a 1 min LH off the MS1 level an hour before FO - if this pattern continues then I'm going to be getting up earlier http://cdn.forexfactory.com/images/icons/icon11.gif.....I jumped in short as soon as I got up half an hour later and pirated short pips before reversing to long......I was looking for the MS2 level, but the low also came in earlier than expected and I bought 10 pips higher than the level.

I banked my pips before the 50% retrace / 30 ema and reversed to short again....
Hi Islander once again great trading. We now look to be ready an hour before FO. Don't always make it but its worth the effort!!
  • #4,666
  • Dec 9, 2009 1:47am Dec 9, 2009 1:47am
Quoting Vantage
Not that long ago Mrs V didn't know the difference between a lie and a fib.

Our analysis is above. Mrs V sold the lower high close at 6253, exit 6184 when the Ms1, 38% ext held for the 2nd time. Way to go Mrs V.

LOL - WTG Mrs V - now where did I see a similar trade posted.....
Trading Levels with WRBs
  • #4,667
  • Dec 9, 2009 1:52am Dec 9, 2009 1:52am
Quoting Vantage
Hi Islander once again great trading. We now look to be ready an hour before FO. Don't always make it but its worth the effort!!
Hi V - I too used to be ready an hour before FO and then nothing happened till the half hour.....now its back to an hour before......and its dark and cold...
Trading Levels with WRBs
  • #4,668
  • Dec 9, 2009 2:11am Dec 9, 2009 2:11am
Quoting Islander
GM - a nice drop that was signalled by a 1 min LH off the MS1 level an hour before FO - if this pattern continues then I'm going to be getting up earlier http://cdn.forexfactory.com/images/icons/icon11.gif.....I jumped in short as soon as I got up half an hour later and pirated short pips before reversing to long......I was looking for the MS2 level, but the low also came in earlier than expected and I bought 10 pips higher than the level.

I banked my pips before the 50% retrace / 30 ema and reversed to short again....
The pull back stopped around the 50% level right at LO when The Brits came in as buyers - I reversed to long.....it helped that my 1 min TLs are working very well today...http://cdn.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #4,669
  • Dec 9, 2009 2:29am Dec 9, 2009 2:29am
Quoting Islander
The pull back stopped around the 50% level right at LO when The Brits came in as buyers - I reversed to long.....it helped that my 1 min TLs are working very well today...http://cdn.forexfactory.com/images/icons/icon12.gif
Hi Islander, one day one day when I'm big I'll swing both ways ( just re-read that one), for now I'll have to make do. If I had been interested in move up I'd have missed it was posting here http://www.forexfactory.com/showthre...90#post3292390 this is becoming increasingly our focus. Fewer trades letting run longer. Mrs V slowly coming around to the idea.

This move up, early days yet but I'll be very interested to see where we close today and are we at start of big run up, TWT.
  • #4,670
  • Dec 9, 2009 2:50am Dec 9, 2009 2:50am
Price rallied up into the resistance area - the confluence of the 250 / yesterdays low and MS1 levels.....I banked my pips as soon as price stalled.....
Trading Levels with WRBs
  • #4,671
  • Dec 9, 2009 2:58am Dec 9, 2009 2:58am
Quoting Islander
Price rallied up into the resistance area - the confluence of the 250 / yesterdays low and MS1 levels.....I banked my pips as soon as price stalled.....
With Brit prebudget whatever news in 30 mins I might be out for now.

Can't help thinking that your TL set up needs a thread all of its own (yes I know you don't like too many threads to pay attention to). At least there you can keep updated with your settings etc etc.

On a seperate note have you considered trading gbpjpy with your set up or are your gu gazillions enough????
  • #4,672
  • Dec 9, 2009 3:27am Dec 9, 2009 3:27am
Quoting Islander
Price rallied up into the resistance area - the confluence of the 250 / yesterdays low and MS1 levels.....I banked my pips as soon as price stalled.....

posted in DTs thread....FYI, I sold the hit of the 6300 level....

Originally Posted by Islander http://cdn.forexfactory.com/images/buttons/viewpost.gif
GM SM - thanks for your post - it confirmed my own analysis - there was a high vol 5 min candle that made the high up into this area where we have yesterdays low and todays MS1......so I closed my long and reversed again to short.....this puts the latest fib zone from 6224, with the 50% at 216 and 61% at 201.....how price reacts around these levels shows us what to expect next..http://cdn.forexfactory.com/images/s...im/winking.gif
the pull back was shallow on low volume, turning at - lol - 6224, also the now rising 30 ema - so I closed those shorts and went long again.

This time price easily broke up thru the resistance on a high volume push up that has now hit the (IMO) more important resistance area around the 300 level that was heavily traded in the US session yesterday, creating a higher volume area than the one just broken.....price hit the days open level / high vol pivot at 6285 and again I've taken profit.
Trading Levels with WRBs
  • #4,673
  • Dec 9, 2009 3:38am Dec 9, 2009 3:38am
Quoting Islander
posted in DTs thread.....
Found it thanks, very interesting.
  • #4,674
  • Dec 9, 2009 3:43am Dec 9, 2009 3:43am
Hi V - lol - big and swinging both ways.......you mean like Wall Street's Big Swinging Dicks......

As you probably remember, I used to trade GBPJPY and ran the Intra Day Yen - Naked thread....http://www.forexfactory.com/showthre...99.....however, I found it best to trade this cross ONLY when both GU and UJ moved in the same direction - that's when you get the big moves - the rest of the time IMO you can get more pips out of cable - so now I dont even look at Yen pairs....

As to starting another thread, I do believe that it needs consistant posting and with my frequent trips away I cant always manage that, so I prefer to help keep this thread alive and try to keep my posts in line with its aims - although I must say that its starter hasnt been very active and so some hijacking is inevitable....

Cheers

Islander
Trading Levels with WRBs
  • #4,675
  • Dec 9, 2009 3:54am Dec 9, 2009 3:54am
Ref. my sell off the 6300 level - I closed at the MS1 level of 6270 before the UK Trade Balance data.....http://cdn.forexfactory.com/images/icons/icon6.gif

I'm now flat and finished for this morning, back for NY1.....BFN
Trading Levels with WRBs
  • #4,676
  • Dec 9, 2009 4:04am Dec 9, 2009 4:04am
This morning's signals.....beaucoup pips pirated.....
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Trading Levels with WRBs
  • #4,677
  • Dec 10, 2009 12:00am Dec 10, 2009 12:00am
D has another doji so I'm looking for sells with Y's low/W and M pivots the target, if that breaks the psych level shown on D chart 6130 will be important I think.

Will have no problem in view of D doji if we move up.
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  • #4,678
  • Dec 10, 2009 12:09am Dec 10, 2009 12:09am
Quoting Vantage
D has another doji so I'm looking for sells with Y's low/W and M pivots the target, if that breaks the psych level shown on D chart 6130 will be important I think.

Will have no problem in view of D doji if we move up.
Forgot to mention that we are in the middle of a large triangle seen clearly on 4hr and 1hr. I do have positive divergence on rsi for up on 15 and 5 min.
  • #4,679
  • Dec 10, 2009 12:57am Dec 10, 2009 12:57am
After the US close I placed a limit sell just under the MR1 level of 6317. Price spiked a few pips above it and turned at 6325, nicely triggering my sell. LAter my TP at the DP was hit, so I got up to some nice pips.

Now I've sold LH off the 6250 level, looking for the MS1 level....
Trading Levels with WRBs
  • #4,680
  • Dec 10, 2009 1:26am Dec 10, 2009 1:26am
Quoting Islander
After the US close I placed a limit sell just under the MR1 level of 6317. Price spiked a few pips above it and turned at 6325, nicely triggering my sell. LAter my TP at the DP was hit, so I got up to some nice pips.

Now I've sold LH off the 6250 level, looking for the MS1 level....
Ten mins before FO it hit the 61% retrace of the last rally, turning just under it at 6234, so I exited for a wash and reversed to long.

IF 6234 holds, it will be a nice HL that could even become todays low http://cdn.forexfactory.com/images/icons/icon6.gif


TWT and at present Euro and Swissy are also bouncing around their DPs....
Trading Levels with WRBs
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