Psych Levels, Pivots, and Trendlines - Resurrected | Page 243 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Adr, psych levels, demand & supply trading 14 replies

Standard Pivots and Fibonnaci Pivots? 9 replies

EUR/USD 5min - Trendlines and Pivots 379 replies

Important psych levels 1 reply

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Attachments: Psych Levels, Pivots, and Trendlines - Resurrected
Exit Attachments

Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,841
  • Feb 17, 2010 9:41am Feb 17, 2010 9:41am
Hi EV.....nice to see some activity here.....I thought I'd post this chart showing the trades I've taken since the open of the US markets - 8am est and after the open of the NYSE at 9:30 est, marked as NYO1 & NYO2.....


the green doji making a Lower High and at the 5800 level was a gift.....as the US data didnt shake me out, I rode it down to the 750 level.....the bounce holding at the mid morning highs - Europeanwise - also the 61% retrace of the fall was again a nce entry....I almost entered after the small doji, but as € was still looking like continuing up, I waited and sold after the break of the 75 level, exiting as the long red candle pushed under the DAily Pivot......a most profitable afternoon..http://cdn.forexfactory.com/images/icons/icon12.gif
Attached Image (click to enlarge)
Click to Enlarge Name: feb 17 cable 5m 1030 est.gif Size: 22 KB
Trading Levels with WRBs
  • #4,842
  • Feb 17, 2010 10:05am Feb 17, 2010 10:05am
Nice of you to drop by, mate, and thanks for the chart. I see you've lost none of your cunning since you left the fold here! Good trades, mate, and, as you say, a most profitable afternoon.

This thread is definitely not the same as it used to be, Islander. Plenty of lurkers now and again, but very few coming in to comment. Don't know if it will pick up or not, but I'll stay with it for the time being. Hell, I've got nowhere else to go!!

Visit again soon, mate. You're always welcome.
Cheers for now, and the best of luck with your new thread. Seems to be doing very well.
TTFN
  • #4,843
  • Feb 17, 2010 10:28am Feb 17, 2010 10:28am
I've been pretty busy today, one way or another, but unfortunately, not with trading.

Me and the computer have been on sort of "nodding terms" today, and wouldn't you know it, I missed this great trade!

The hanging-man type candle formed right on the confluence of the xx00 psych-line and the 13ema. The widening gap formed by the MA "zone" is always a great encouragement, and it was spot on this time. Price just blew straight through the Mid-point/xx75 confluence, and I've marked where I would have exited at the xx50 psych-line, had I been in the trade.
An absolute beauty!
Attached Image
  • #4,844
  • Feb 18, 2010 2:39am Feb 18, 2010 2:39am
Hi, EV!
Is it like Yours? Its MultiplePivotsV2 + MidPoints indi
The Mid Points indi shows 3 red and 3blue line. Should not it show the Pivot , too?
THX, PH
Attached Image (click to enlarge)
Click to Enlarge Name: ev 1.gif Size: 12 KB
  • #4,845
  • Feb 18, 2010 3:02am Feb 18, 2010 3:02am
Quoting Prof Hunter
Hi, EV!
Is it like Yours? Its MultiplePivotsV2 + MidPoints indi
The Mid Points indi shows 3 red and 3blue line. Should not it show the Pivot , too?
THX, PH
You shouldn't need the Mid-Points indicator with MultiplePivotsV2, mate. Take the Mid-Point indy off, and get into MultiplePivotsV2 options. You'll be able to add mid-points with that one.

The reason I use FXI Pivots is because I can backtest with them. They don't just indicate the pivots for today, they indicate the pivots for however far you want to go back. Unfortunately, they don't have a mid-point option, so that's why a separate indicator is needed.
  • #4,846
  • Feb 18, 2010 3:56am Feb 18, 2010 3:56am
Ok, now, did it. Would You check the Lines values are the same? Or post Your one?
THX, PH
Attached Image (click to enlarge)
Click to Enlarge Name: ev 1.gif Size: 14 KB
  • #4,847
  • Edited 4:08am Feb 18, 2010 4:07am | Edited 4:08am
Quoting Prof Hunter
Ok, now, did it. Would You check the Lines values are the same? Or post Your one?
THX, PH
This is how my eur/usd chart looks, ph. Check it out.

Edit: Sorry, forgot to mention that I've taken the psych-lines off so you can check the line values easier.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1009.gif Size: 17 KB
  • #4,848
  • Feb 18, 2010 4:10am Feb 18, 2010 4:10am
Got it, THX!
  • #4,849
  • Feb 18, 2010 4:39am Feb 18, 2010 4:39am
GU
Attached Image (click to enlarge)
Click to Enlarge Name: ev 1.gif Size: 21 KB
  • #4,850
  • Feb 18, 2010 5:19am Feb 18, 2010 5:19am
You were right, ph.

However, soon after, there was another pull-back, and a good entry would have been just under the 13ema, followed by some strong momentum candles.
  • #4,851
  • Feb 18, 2010 5:36am Feb 18, 2010 5:36am
Quoting eyevoltage
You were right, ph.

However, soon after, there was another pull-back, and a good entry would have been just under the 13ema, followed by some strong momentum candles.
I see that, but the candles? Don t You need some bearish candle break to step in?
  • #4,852
  • Feb 18, 2010 5:45am Feb 18, 2010 5:45am
And forgott to tell, those were News candles.
  • #4,853
  • Feb 18, 2010 6:15am Feb 18, 2010 6:15am
Quoting Prof Hunter
I see that, but the candles? Don t You need some bearish candle break to step in?
There was a doji formed just before that strong downward momentum candle. As that red candle started dropping, a good entry would have been just under the 13ema.
  • #4,854
  • Edited 7:16am Feb 18, 2010 6:17am | Edited 7:16am
Quoting Prof Hunter
And forgott to tell, those were News candles.
In a situation like this, with such a visual signal of something promising in the offing, there's nothing to stop you trading this one as long as you keep a close eye on things and be ready to bail out at the first sign of trouble.
  • #4,855
  • Feb 18, 2010 6:57am Feb 18, 2010 6:57am
Quoting eyevoltage
In a situation like this, with such a visual signal in the offing, there's nothing to stop you trading this one as long as you keep a close eye on things and be ready to bail out at the first sign of trouble.
Sorry, don t understand 'in the offing'?
What spread do You have under the news?
  • #4,856
  • Feb 18, 2010 7:23am Feb 18, 2010 7:23am
Quoting Prof Hunter
Sorry, don t understand 'in the offing'?
What spread do You have under the news?
Sorry, mate.....English expression meaning "something possibly going to happen". Read that post again because I've edited it slightly.

Seeing as I don't make a habit of trading at newstime, I'm not sure of the spread. I don't trade through a broker, mate...I trade through a spread-betting firm here in the UK. The spread could be wider, but I've never checked, because, as I say, I don't make a habit of trading the news. I was just making the point that there was nothing stopping you trading the news as long as you're careful and quick on the draw!!
  • #4,857
  • Feb 18, 2010 9:13pm Feb 18, 2010 9:13pm
Quoting Islander
Hi EV.....nice to see some activity here.....I thought I'd post this chart showing the trades I've taken since the open of the US markets - 8am est and after the open of the NYSE at 9:30 est, marked as NYO1 & NYO2.....


the green doji making a Lower High and at the 5800 level was a gift.....as the US data didnt shake me out, I rode it down to the 750 level.....the bounce holding at the mid morning highs - Europeanwise - also the 61% retrace of the fall was again a nce entry....I almost entered after the small doji, but as € was still...
that is some really good trading. i have just gotten into trading psych levels. would you mind telling me where i can get your indicators or if you have a template or thread somewhere? thanks so much. btw do i see you on ircforex? you chat anywhere?
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #4,858
  • Edited 9:17am Feb 22, 2010 8:10am | Edited 9:17am
A different TF for a change. Also, this is a live trade "in the making".

Shooting Star formed on EU H1. I am planning to enter Short either during the retracement (if my Limit order is filled) or when the price moves below the Shooting Star. SL as marked. My exit will depend on how the price reacts to 1.3600 again. My TP is at RR1.

P.S. Psych levels at play here: xx20 (entry), xx00 (to break) and xx80 (exit).

---

The trade was triggered during the retracement via Limit order (at 1.3623). SL was the same. Exit, as planned, at xx80. RR5 trade (see 2nd chart).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU_H1.png Size: 32 KB
Click to Enlarge Name: EU_H1_RR5.png Size: 22 KB
One Chart is Worth Ten Thousand Words.
  • #4,859
  • Feb 22, 2010 8:28am Feb 22, 2010 8:28am
Quoting eaglestar
that is some really good trading. i have just gotten into trading psych levels. would you mind telling me where i can get your indicators or if you have a template or thread somewhere? thanks so much. btw do i see you on ircforex? you chat anywhere?


I use these indys.....I used ircforex a couple of years ago, but not anymore as I found it too distracting....

In the pivots indy if your broker is GMT, then set the DestTimeZone to 2, that will calculate them from 5pm est....
Attached File(s)
File Type: ex4 SDX-TzPivots.ex4   20 KB | 360 downloads
File Type: ex4 SDX-SweetSpots_v5.2.ex4   8 KB | 363 downloads
Trading Levels with WRBs
  • #4,860
  • Feb 23, 2010 2:12am Feb 23, 2010 2:12am
Hi, EV!
Is it a valid one? Fra Open.
Attached Image (click to enlarge)
Click to Enlarge Name: ev 2.gif Size: 20 KB
5 traders viewing now