Psych Levels, Pivots, and Trendlines - Resurrected | Page 246 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,901
  • Mar 8, 2010 4:28am Mar 8, 2010 4:28am
EJ
Enter on the lower or the higher red line?
Attached Image (click to enlarge)
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  • #4,902
  • Mar 8, 2010 4:30am Mar 8, 2010 4:30am
Quoting Prof Hunter
EJ
Enter on the lower or the higher red line?
The lower one
  • #4,903
  • Mar 8, 2010 5:14am Mar 8, 2010 5:14am
Nice trades, EV!
One Chart is Worth Ten Thousand Words.
  • #4,904
  • Mar 8, 2010 5:18am Mar 8, 2010 5:18am
Quoting Forex007
Nice trades, EV!
Cheers, mate......do you ever get on skype, at all?
  • #4,905
  • Mar 8, 2010 6:42am Mar 8, 2010 6:42am
Again, without the MA's. I think if this one had arisen BELOW the Pivot Point, I wouldn't have taken it. It was only because it was ABOVE that I thought there was a good chance price would at least reach the xx50 line. SL at 1.520.
Attached Image
  • #4,906
  • Mar 8, 2010 7:07am Mar 8, 2010 7:07am
Quoting eyevoltage
Again, without the MA's. I think if this one had arisen BELOW the Pivot Point, I wouldn't have taken it. It was only because it was ABOVE that I thought there was a good chance price would at least reach the xx50 line. SL at 1.520.
Hi EV! Funny enough, I went Short where you exited your first Long GU trade - when price failed for the 2nd time to break 1.5200, forming Double Top. I exited my Short shortly before you took your 2nd Long (when price stalled aroud 1.5110 and formed a Double Bottom). So, we've been on the opposite sides today

I don't use Skype during the day much as it distracts me from trading.
One Chart is Worth Ten Thousand Words.
  • #4,907
  • Mar 8, 2010 7:45am Mar 8, 2010 7:45am
Quoting Forex007

I don't use Skype during the day much as it distracts me from trading.
Yes, I understand. I've only just got onto it recently, and compared with the forum, it's pretty fast and furious. Sometimes a bit TOO f and f!!
  • #4,908
  • Mar 8, 2010 8:32am Mar 8, 2010 8:32am
Hi.
I'm kind of new on Forex and i'm running my demo account. I choose a system based on Pivot points and Fibo retracements. It seems quite good working for me. Is it possible to know how profitable this system is so i can adapt my strategy due to my money management and is it possible to create a robot based on pivot, ...May I know also if my question is understandable????

Thanx for the reponse
  • #4,909
  • Mar 8, 2010 9:02am Mar 8, 2010 9:02am
Quoting raficho
Hi.
I'm kind of new on Forex and i'm running my demo account. I choose a system based on Pivot points and Fibo retracements. It seems quite good working for me. Is it possible to know how profitable this system is so i can adapt my strategy due to my money management and is it possible to create a robot based on pivot, ...May I know also if my question is understandable????

Thanx for the reponse
You're on the wrong part of the Forum for the info you require, mate. Go back to the Forums page and try "Trading Discussions".
Hope that helps.
  • #4,910
  • Mar 8, 2010 2:26pm Mar 8, 2010 2:26pm
Quoting raficho
Hi.
I'm kind of new on Forex and i'm running my demo account. I choose a system based on Pivot points and Fibo retracements. It seems quite good working for me. Is it possible to know how profitable this system is so i can adapt my strategy due to my money management and is it possible to create a robot based on pivot, ...May I know also if my question is understandable????

Thanx for the reponse
Hey Raficho. I can no longer trade during the day so Ive not been here for a while but I still get email updates to the thread.
This thread is not a system, its a way of understanding price action. Trust Eyevoltage. He is the maestro on here.

2 years ago I was keeping logs & trying to look for a way to set up trades automatically using PPs on forex, oil and indices. My conclusion is that its a waste of time on forex. All are far too risky. Dont go there. It will clean out your account! You HAVE to be at your screen.

Look for day trading and evening set ups & use 5 & 20 MAs. Learn candle formations, charting techniques and VSA.

This is a great thread but it wont help you.
  • #4,911
  • Mar 9, 2010 6:22am Mar 9, 2010 6:22am
Thank you.
I'll keep searching to change my way of trading than.
  • #4,912
  • Mar 10, 2010 5:43am Mar 10, 2010 5:43am
A couple of trades from the 5m EJ this morning for you to peruse......

I was fairly confident about the first trade as the pull-back didn't reach the 13ema, so I reasoned that a weak pull-back signified a fairly strong move up. Not sure whether or not this is sound logic or not, but it worked ok this time around!

The second one really made me wait. After a small pull-back to the 13ema/midpoint/xx75 confluence, I entered and then went into hibernation because of the lack of activity. I nearly pulled the plug a couple of times, but what kept me in was the strong steady upward movement of the MA's, and the wide "zone" between them. It paid off in the end, thankfully.
  • #4,913
  • Mar 10, 2010 5:44am Mar 10, 2010 5:44am
.....and here's the chart for you!
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy1023.gif Size: 18 KB
  • #4,914
  • Mar 10, 2010 5:52am Mar 10, 2010 5:52am
Didn't take this one as I was involved with the above trade at the time, but it would have been a great opportunity.
Self-explanatory really, with suggested entry and exit indicated.
Attached Image
  • #4,915
  • Mar 10, 2010 8:38am Mar 10, 2010 8:38am
A small trade after a nice pull-back into the 13/34ema "zone", with a resultant doji. Entry and exit as shown.
Attached Image
  • #4,916
  • Mar 10, 2010 9:02am Mar 10, 2010 9:02am
Excellent trades, EV! Thank you for sharing.
One Chart is Worth Ten Thousand Words.
  • #4,917
  • Mar 10, 2010 10:14am Mar 10, 2010 10:14am
Quoting Forex007
Excellent trades, EV! Thank you for sharing.
Thanks, mate. Nice to know someone's watching. We definitely need some new blood on this thread.
Cheers
  • #4,918
  • Mar 10, 2010 10:31am Mar 10, 2010 10:31am
Quoting eyevoltage
We definitely need some new blood on this thread.
Maybe not...
One Chart is Worth Ten Thousand Words.
  • #4,919
  • Mar 10, 2010 10:48am Mar 10, 2010 10:48am
ev,
iīm always watching the thread. Itīs still amazing from its beginning !
Thanks for the good work.
Also to all the other contributors...
Donīt live for working, but work for living.
  • #4,920
  • Mar 11, 2010 8:09am Mar 11, 2010 8:09am
Hey guys,

Long time trader here, but new to forex and MT4. I'm trying to set up my pivot points to match Acumen's. I've installed the "FXI Pivots.ex4" file and it works, but it is calculating the pivots based on midnight on my broker's feed (which uses EST). It looks like Acumen calculates based on GMT? Any idea how I can match those calculations? Can someone post their pivot points for today so I can verify that mine are calculating correctly? Thanks!

rip
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