Psych Levels, Pivots, and Trendlines - Resurrected | Page 245 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Adr, psych levels, demand & supply trading 15 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

  • #4,881
  • Feb 25, 2010 7:22am Feb 25, 2010 7:22am
Quoting Prof Hunter
You see, when I entered, that pin bar was a Bull bar 2pip (1pip+spread) higher than the earlier one. But came back, and formed a pin against Me. So when I entered it was green, higher than the earlier bar, higher than the 13EMA.
Just ask am I miss something, or it s just a loss what happen?
Do You use bigger buffer than 1+spread?
What can I say? You ask if you missed something, and I've tried to explain why the trade turned bad as best I can. At the end of the day, it's a trade that turned bad. Analyse it, see where you went wrong, and look for the next one. In future, in a situation like this one, I advise you to take something like that pin-bar as a strictly "heads-up" indicator and wait for a candle to open ABOVE the 13ema and start climbing. Once it's past the high of the pin-bar candle, you can either enter there, or wait for a further candle to open and then enter. At the end of the day, use your own judgement.
  • #4,882
  • Feb 25, 2010 7:52am Feb 25, 2010 7:52am
Ok, sorry, it looks, I cannot explain it properly. Looks, We talk besides each other. I would not trade against an unbroken (any side) pin bar at a place like that.
Nevermind, just was interested in Your opinion. My fault, not asking properly the question.
  • #4,883
  • Feb 25, 2010 8:39am Feb 25, 2010 8:39am
Quoting Prof Hunter
Ok, sorry, it looks, I cannot explain it properly. Looks, We talk besides each other. I would not trade against an unbroken (any side) pin bar at a place like that.
Nevermind, just was interested in Your opinion. My fault, not asking properly the question.
No need to apologize, mate. Don't worry about it.
  • #4,884
  • Feb 26, 2010 2:09pm Feb 26, 2010 2:09pm
took these trades today for +55 +22 +35= +112 let me know your thoughts thanks was thinking of fade on eu at mr3 13675 but didn't take it. oh well there is always monday
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd-022610-2.gif Size: 27 KB
Click to Enlarge Name: gbpusd-022610-2.gif Size: 20 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #4,885
  • Feb 27, 2010 10:06am Feb 27, 2010 10:06am
Quoting eaglestar
took these trades today for +55 +22 +35= +112 let me know your thoughts thanks was thinking of fade on eu at mr3 13675 but didn't take it. oh well there is always monday
If I'm not mistaken, that's a Keltner Channel, and because I've never used one, I don't feel qualified to comment. You'd have to tell me what you based your entry on. (You'll probably have guessed by now that acumen's original concept isn't big on indicators other than what's mentioned in the thread title, although he went on to mention that maybe he should have included fibs as well!)

The two trades on the second chart are much more like it, mate. And I like the way you've used a Fibonacci extension for a target. Spot on!
  • #4,886
  • Feb 27, 2010 5:11pm Feb 27, 2010 5:11pm
Quoting eyevoltage
If I'm not mistaken, that's a Keltner Channel, and because I've never used one, I don't feel qualified to comment. You'd have to tell me what you based your entry on. (You'll probably have guessed by now that acumen's original concept isn't big on indicators other than what's mentioned in the thread title, although he went on to mention that maybe he should have included fibs as well!)

The two trades on the second chart are much more like it, mate. And I like the way you've used a Fibonacci extension for a target. Spot on!
Thanks mate still trying to get my head around the price action of pivots and reading through these and islanders threads. That is actually an envelope and i was using it just to see trend to see if i liked it. most of the time i base the trades i make on candlestick patterns after hitting intraday resistance areas which i think is the point or basis of the thread. vsa is working incredible as well for spotting highs and lows. you are so much more advanced than me at this so just giving my reasons teacher thanks for commentary take care a lot. will be posting a lot more charts here God willing
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #4,887
  • Feb 28, 2010 7:30am Feb 28, 2010 7:30am
Quoting eyevoltage
If I'm not mistaken, that's a Keltner Channel
Looks like MA's channel/envelope (MAs based on High, Close (or Median Price) and Low). Williams uses smth similar a lot.
One Chart is Worth Ten Thousand Words.
  • #4,888
  • Mar 1, 2010 3:22am Mar 1, 2010 3:22am
PA from 13. WT. Is it enough to enter for You?
Attached Image (click to enlarge)
Click to Enlarge Name: ev 5.gif Size: 22 KB
  • #4,889
  • Mar 1, 2010 5:02am Mar 1, 2010 5:02am
Quoting Prof Hunter
PA from 13. WT. Is it enough to enter for You?
My USD0.02 (at the current rate )
Attached Image (click to enlarge)
Click to Enlarge Name: PA.png Size: 33 KB
One Chart is Worth Ten Thousand Words.
  • #4,890
  • Mar 3, 2010 7:52am Mar 3, 2010 7:52am
Just in case anybody's interested, I'm on Skype at the moment with another trader. ID is stretty689908.
  • #4,891
  • Mar 3, 2010 10:50am Mar 3, 2010 10:50am
Quoting Forex007
My USD0.02 (at the current rate )
THX, 007!
I did not take it, just was curious. It s interesting experiment, this 5M staff, to Me. The lowest TF is the 1H(as trigger), I use in My main acc. So, till Max arrives here, every experienced answer is apprichiated!
PH
  • #4,892
  • Mar 3, 2010 10:52am Mar 3, 2010 10:52am
Quoting eyevoltage
Just in case anybody's interested, I'm on Skype at the moment with another trader. ID is stretty689908.
Missed it, but if there will be next time, I will try to be there!
  • #4,893
  • Mar 3, 2010 11:55pm Mar 3, 2010 11:55pm
I took these for some pips. stopped out on eu and gu. adjusting stop loss levels, due to being new to this strategy. will show todays trades +40 today, without stoploss testing +60 haha. Eu and Gu i think i was in a bit too early. 20 pip stop losses are pretty good unless you can squeeze out a limit order at a level, at least on 15m charts.

PS A big thanks to Islander, Eyevoltage, Vantage, and TRO for getting me started with this strategy. I am loving it. And accumen, for starting this thread.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd-030410-1.gif Size: 21 KB
Click to Enlarge Name: eurusd-030410-1.gif Size: 20 KB
Click to Enlarge Name: gbpusd-030410-1.gif Size: 20 KB
Click to Enlarge Name: usdcad-030410-1.gif Size: 19 KB
Click to Enlarge Name: usdchf-030410-1.gif Size: 19 KB
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #4,894
  • Mar 4, 2010 5:47am Mar 4, 2010 5:47am
Great trades, eaglestar!!

Just completed a short trade on 5m cable after 3 nice little dojis formed right on the xx75 psych-line, in the 13/34 ema zone. Entry and exit as shown.
Attached Image
  • #4,895
  • Mar 4, 2010 3:07pm Mar 4, 2010 3:07pm
Quoting eyevoltage
Great trades, eaglestar!!

Just completed a short trade on 5m cable after 3 nice little dojis formed right on the xx75 psych-line, in the 13/34 ema zone. Entry and exit as shown.
Thanks i appreciate that. I am just getting started with this so hopefully much more to come. The dojis are very strong signals. I think i will go polish my learning on candlesticks this weekend as welll. Hope to see you in Skype soon. Take care brother. Your trade was pretty good as well. Just a question, why do you exit so early?
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #4,896
  • Mar 4, 2010 3:11pm Mar 4, 2010 3:11pm
I would like to say how much I appreciate Eyevoltage's charts and posts and continued help and assistance. It's rare to find someone so kind and helpful. Every day I learn something new. This thread is golden.
  • #4,897
  • Mar 5, 2010 1:54am Mar 5, 2010 1:54am
Quoting eyevoltage
Great trades, eaglestar!!

Just completed a short trade on 5m cable after 3 nice little dojis formed right on the xx75 psych-line, in the 13/34 ema zone. Entry and exit as shown.
Hi, EV!
Was Your SL 15-20pips, or just under the dojis?
THX, PH

Eaglestar: I guess EV closed it because of the RN: 1,51
  • #4,898
  • Mar 5, 2010 3:00am Mar 5, 2010 3:00am
Eaglestar - I've been on skype for a couple of days now. Never really bothered about it before, but I'll be on fairly regularly from now on. As regards the trade.......I only trade 5m charts, mate, and as such try to keep my TP's fairly modest. Anything from 15 up to around 25 pips I consider to be realistic, and once I've got that, if price doesn't look like it's going to do much else, then I'll exit.

db-trader - Many thanks indeed for your kind words. I also got a lot of help in my earlier days on here, so I think it's only right to help others in return, if I can. I often see promising new threads that end up with people not only squabbling, but being downright nasty to one another. Life's too short, mate. I'd rather help than hinder.

Prof Hunter - My SL was 15 pips, mate, just under the 34 ema.
  • #4,899
  • Mar 8, 2010 2:57am Mar 8, 2010 2:57am
Morning, folks.....

In periods like this, when price is ranging, I find it helpful to remove the MA's, as I find them to be bit of a distraction.
This trade was the result of a really nice "twin" indication, consisting of a bullish piercing pattern and a pair of tweezer-bottoms. In addition, they formed in the "confluence zone" of a midpoint line and the xx50 psych-line. First target was the xx75 psych-line, and the second one was the resistance formed by a previous tweezer-top formation.
Attached Image
  • #4,900
  • Mar 8, 2010 4:25am Mar 8, 2010 4:25am
The trade that wasn't.
I didn't actually see this forming until it was too late. However, I've put an arrow where I would have entered. Price then retraced again and formed a Dark Cloud Cover, followed by a nice drop to the xx25 psych-line/midpoint confluence. Would have been a nice 20 pips or so. Them's the breaks, sometimes.
Attached Image
7 traders viewing now