Psych Levels, Pivots, and Trendlines - Resurrected | Page 248 | 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

  • #4,941
  • Mar 15, 2010 9:50am Mar 15, 2010 9:50am
EU 5M WT PIN, off 1,3700 from the MA zone. Textbook.
PH
Edit: watch the time of post, it can help to identify the pin, later.
  • #4,942
  • Mar 15, 2010 12:29pm Mar 15, 2010 12:29pm
Quoting eyevoltage
Two trades in quick succession to share with you....
EV on the psych xx50 line towards the end there is a bullish engulfing so I assume you didn't long because the price traded below the main pivot?
  • #4,943
  • Mar 16, 2010 3:56am Mar 16, 2010 3:56am
Quoting bksujal
EV on the psych xx50 line towards the end there is a bullish engulfing so I assume you didn't long because the price traded below the main pivot?
Sorry for the delay in replying.

I can't see a bullish engulfing candle anywhere on that chart, mate. If you mean the large green candle two along from my exit (last yellow arrow), then, in my eyes, that's not a true bullish engulfing candle. In actual fact, it's a railroad track combination.
Two points regarding your question......I'd already pointed out that the trade was a CT, and I'm not particularly comfortable trading those. Plus, I considered myself lucky to get out with a positive result, and I wasn't about to jump back in on what I would have considered to be a half-assed opportunity. My second point is that it wasn't part of a reversal pattern, which is what I'm always looking for. High-probability and low-risk, mate...two key phrases that I try and keep in mind at all times.
  • #4,944
  • Edited 6:39am Mar 16, 2010 6:35am | Edited 6:39am
This was a nice trade stemming from a high-probability set-up. Firstly, there's a gentle pull-back to a 3-way confluence of the Main Pivot line, the xx00 psych-line and the 13ema. A doji forms right on the MP/xx00 line, but then price took its own sweet time before eventually moving up with a strong momentum candle. Target was anywhere within or around the xx25 psych-line/midpoint line zone. SL was situated at the 34ema.
Attached Image
  • #4,945
  • Mar 16, 2010 7:49am Mar 16, 2010 7:49am
Another nice set-up, this time involving two dojis and a spinning-top forming at a 3-way confluence of the mid-point, the xx25 psych-line and the 13ema. Entry and exit as shown, with the xx50 psych-line as a definite TP this time, as after such a long climb after the London opening, I didn't feel it had much left.
Attached Image
  • #4,946
  • Mar 16, 2010 8:15am Mar 16, 2010 8:15am
[quote=eyevoltage;3554995]Another nice set-up, this time involving two dojis and a spinning-top forming at a 3-way confluence of the mid-point, the xx25 psych-line and the 13ema. Entry and exit as shown, with the xx50 psych-line as a definite TP this time, as after such a long climb after the London opening, I didn't feel it had much left.[/quote]

Nice one EV as we can now see, 5152 was the high....
Trading Levels with WRBs
  • #4,947
  • Mar 16, 2010 8:20am Mar 16, 2010 8:20am
[quote=Islander;3555091]
Quoting eyevoltage
Another nice set-up, this time involving two dojis and a spinning-top forming at a 3-way confluence of the mid-point, the xx25 psych-line and the 13ema. Entry and exit as shown, with the xx50 psych-line as a definite TP this time, as after such a long climb after the London opening, I didn't feel it had much left.[/quote]

Nice one EV as we can now see, 5152 was the high....
Hi mate.....how's it going on the new thread?
  • #4,948
  • Mar 16, 2010 10:03am Mar 16, 2010 10:03am
EV do you only trade London?

Thanks for the chart examples.
Yea it's Life//
  • #4,949
  • Mar 16, 2010 10:10am Mar 16, 2010 10:10am
Quoting serj1
EV do you only trade London?

Thanks for the chart examples.
London mainly, with a slice of the New York thrown in now and again! Depends on the day, and my off-trading commitments, mate.
  • #4,950
  • Mar 16, 2010 3:03pm Mar 16, 2010 3:03pm
EV, nice trades!

A side question: have you ever tried exiting 1/2 where you'd exit all, and then moving SL to BE and let it ride for a couple of hours (as a "free lunch")?
One Chart is Worth Ten Thousand Words.
  • #4,951
  • Mar 16, 2010 6:58pm Mar 16, 2010 6:58pm
Quoting Forex007
EV, nice trades!

A side question: have you ever tried exiting 1/2 where you'd exit all, and then moving SL to BE and let it ride for a couple of hours (as a "free lunch")?
No, I never have, mate. I like to get in, watch it do its thing, and get out. Which is why I dwell mainly on 5m charts! Just my own way of doing things, I guess. If I could guarantee that I could just sit here and concentrate purely on the sort of thing you're on about, mate, I might be tempted. However, my life-style prohibits such leisurely activities, sad to say, so I have to grab the opportunities as they crop up with as few complications as possible. I'm sure you know what I'm talking about, me old mate.
Good question, though!

What happened to the blue thingy? Still, Homer's brain makes a nice change!!
  • #4,952
  • Mar 17, 2010 3:38am Mar 17, 2010 3:38am
It s hard to tell anything new, here. So, I just say, I like this place! (And EV and F007 as persons!)
PH
  • #4,953
  • Mar 17, 2010 7:36am Mar 17, 2010 7:36am
Quoting eyevoltage
What happened to the blue thingy? Still, Homer's brain makes a nice change!!
Having made 1000 posts here at FF (I know I have a long way to go to catch up with you ), I feel much more clever now and wanted to reflect that. Homer's brain was just the thing to do that with! :nerd:
One Chart is Worth Ten Thousand Words.
  • #4,954
  • Mar 17, 2010 7:38am Mar 17, 2010 7:38am
Quoting Prof Hunter
It s hard to tell anything new, here. So, I just say, I like this place! (And EV and F007 as persons!)
PH
Thank you, PH!

The thread is a hidden gem indeed.
One Chart is Worth Ten Thousand Words.
  • #4,955
  • Mar 17, 2010 11:12am Mar 17, 2010 11:12am
Quoting Prof Hunter
It s hard to tell anything new, here. So, I just say, I like this place! (And EV and F007 as persons!)
PH
How very nice of you to say so, old chap! And I'm sure if we lived next door to one another, we'd get on like a house on fire!
  • #4,956
  • Mar 17, 2010 11:36am Mar 17, 2010 11:36am
...let the things slide

shooting star at the x.xx00 psych level, market has turned its direction till the daily pivot point.

+70 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eu,h1.jpg Size: 296 KB
  • #4,957
  • Mar 17, 2010 11:57am Mar 17, 2010 11:57am
Quoting crackajack
...let the things slide

shooting star at the x.xx00 psych level, market has turned its direction till the daily pivot point.

+70 pips
Thank you for posting your chart, mate. However, this thread is devoted to smaller TF's such as 5m and 15m.
Just thought I'd point this out to you.
Thanks again.
  • #4,958
  • Mar 17, 2010 1:13pm Mar 17, 2010 1:13pm
Quoting Forex007
EV, nice trades!

A side question: have you ever tried exiting 1/2 where you'd exit all, and then moving SL to BE and let it ride for a couple of hours (as a "free lunch")?
He-he!
And You tried it? Or just curious?
PH
  • #4,959
  • Mar 17, 2010 1:30pm Mar 17, 2010 1:30pm
eu, 15 minute
...ply between the pivots & psych level (1.3800)
Attached Image (click to enlarge)
Click to Enlarge Name: eu,m15.jpg Size: 282 KB
  • #4,960
  • Mar 17, 2010 1:47pm Mar 17, 2010 1:47pm
Quoting eyevoltage
Thank you for posting your chart, mate. However, this thread is devoted to smaller TF's such as 5m and 15m.
Just thought I'd point this out to you.
Thanks again.
hi eyevoltage,

thank's for the hint; was a little confused about the h4 at p.1,#1 and the daily chart #11, etc.

excellent thread!
cj
8 traders viewing now