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Psych Levels, Pivots, and Trendlines - Resurrected

  • #4,981
  • Mar 31, 2010 3:51am Mar 31, 2010 3:51am
Quoting Forex007
Islander posted several examples of how he uses Volume. There has been a lot of debate as to whether Volume means anything with FX....
Ah yes, that's a hot debate.
we got that question a few times over at Shamus' VSA thread (& all around FF).
well, Sir Islander, malcolmb14 & some others here & there are living proof that FX volume is helpful.


btw, Thanks for sharing that article!
  • #4,982
  • Mar 31, 2010 4:20am Mar 31, 2010 4:20am
Two nice buying opportunities on cable this morning which I missed due to other commitments.
Wonder if anyone else got on board with these?
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  • #4,983
  • Mar 31, 2010 5:54am Mar 31, 2010 5:54am
Nice BO setups, EV!

Didn't catch those, though: I am off trading for a few weeks - our second child (a daughter) was born two days ago.
One Chart is Worth Ten Thousand Words.
  • #4,984
  • Mar 31, 2010 6:03am Mar 31, 2010 6:03am
Quoting Forex007
Nice BO setups, EV!

Didn't catch those, though: I am off trading for a few weeks - our second child (a daughter) was born two days ago.
Absolutely delighted for you and your lady wife, old chap!
See you when time's more on your side!
Cheers
  • #4,985
  • Mar 31, 2010 7:07am Mar 31, 2010 7:07am
Quoting eyevoltage
Two nice buying opportunities on cable...
missed it, but was in on eur$.


Quoting Forex007
Nice BO setups, EV!
Didn't catch those, though: I am off trading for a few weeks - our second child (a daughter) was born two days ago.
Congratulations Sir!
less time in front of charts = vacation
sleepless nights, here i come
another future trader?
take care of your new ...
  • #4,986
  • Mar 31, 2010 7:31am Mar 31, 2010 7:31am
Quoting eyevoltage
Absolutely delighted for you and your lady wife, old chap!
See you when time's more on your side!
Cheers
Thank you, EV! Yep, we'll see you around soon (I hope).
One Chart is Worth Ten Thousand Words.
  • #4,987
  • Mar 31, 2010 7:31am Mar 31, 2010 7:31am
Quoting supremeChaos
sleepless nights
another future trader?
Thank you, SupremeChaos!

Sleepless nights etc - we've learnt the drill with our son two years ago It's good for trading as you can be up earlier...

Trader - could be... (could be both of them, in fact) We'll see...
One Chart is Worth Ten Thousand Words.
  • #4,988
  • Edited 6:53am Apr 8, 2010 5:31am | Edited 6:53am
I am sure EV caught the same move (but, perhaps, exited at xx00 )
---
P.S. I prefer to be flexible and react to what the market tells me. When price stalled at xx20 for the third time, I reversed my position - http://www.forexfactory.com/showpost...postcount=3351
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One Chart is Worth Ten Thousand Words.
  • #4,989
  • Apr 8, 2010 7:12am Apr 8, 2010 7:12am
Quoting Forex007
I am sure EV caught the same move (but, perhaps, exited at xx00 )
---
P.S. I prefer to be flexible and react to what the market tells me. When price stalled at xx20 for the third time, I reversed my position - http://www.forexfactory.com/showpost...postcount=3351
No, I didn't get that one, mate. In fact, I've only had the one trade so far today, but on cable.
Two dojis forming on the confluence of the mid-point and both MA's prompted me to make rather an aggressive entry just above the highs of said dojis. Entry and exit as indicated.

I keep monitoring this thread, and it's a real pleasure to see you posting, mate, in spite of your obviously busy domestic duties! Hope all is well in the 007 household.
Cheers
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  • #4,990
  • Apr 8, 2010 7:18am Apr 8, 2010 7:18am
Here's the same situation as above illustrated on another chart. This time, it's a bullish flag pattern.

Just to show that there's lots of times when there's various ways and means of recognizing potential trades.
Attached Image
  • #4,991
  • Apr 8, 2010 7:37am Apr 8, 2010 7:37am
Quoting eyevoltage
Two dojis forming on the confluence of the mid-point and both MA's prompted me to make rather an aggressive entry

Hope all is well in the 007 household.
Nice trade, EV!

Things are back on track, thank you, so I am getting more of the action now
One Chart is Worth Ten Thousand Words.
  • #4,992
  • Apr 8, 2010 7:44am Apr 8, 2010 7:44am
Somebody said once on another thread that they never used the mid-pivots because they considered them too weak. Personally, I've always found them to be extremely useful. In addition, I always suspected that quarter pivots could be just as useful, but I never investigated it further.
However, the pivot indicator that I'm using in this chart below, gives the option of displaying quarter pivot lines and I thought it might be interesting to highlight how price can sometimes react at these points. Of course, they would only be useful when we've got good wide gaps between pivot lines, but the chart shows how useful this option can be.
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  • #4,993
  • Apr 8, 2010 8:05am Apr 8, 2010 8:05am
Quoting eyevoltage
Here's the same situation as above illustrated on another chart. This time, it's a bullish flag pattern.

Just to show that there's lots of times when there's various ways and means of recognizing potential trades.

Excellent example, EV!

I do the same from time to time: use different chart settings (and zoom level) to see if the same setup appears on a different radar.
One Chart is Worth Ten Thousand Words.
  • #4,994
  • Apr 8, 2010 8:27am Apr 8, 2010 8:27am
Quoting eyevoltage
Somebody said once on another thread that they never used the mid-pivots because they considered them too weak....
The trouble is: can you use (whatever)-pivots consistently, i.e. if you see a strong setup which is non on a pivot - will you pass; or, likewise, if you see a weaker setup, but on a pivot - will you take it?
One Chart is Worth Ten Thousand Words.
  • #4,995
  • Apr 8, 2010 8:45am Apr 8, 2010 8:45am
Quoting Forex007
The trouble is: can you use (whatever)-pivots consistently, i.e. if you see a strong setup which is non on a pivot - will you pass; or, likewise, if you see a weaker setup, but on a pivot - will you take it?
I guess that the only answer to that is to treat each potential opportunity as it arises. I wasn't quoting a hard and fast rule, mate.....just something that could come in useful as and when the situation "suggested" it! Trader discretion, in other words.
However, the original idea behind acumen's method was to trade at the pivot lines, was it not? Which is why I always look for a good set up that involves a reversal pattern around a pivot line/psych-line/MA confluence. Even if the pivot line in question is a quarter-pivot, then why not take the trade if the set up looks good?
Perhaps not "consistently", but can any method guarantee that?
  • #4,996
  • Apr 8, 2010 12:55pm Apr 8, 2010 12:55pm
Quoting eyevoltage
I guess that the only answer to that is to treat each potential opportunity as it arises....
I agree with your point re Acumen method and uncertainty of any method, EV.
One Chart is Worth Ten Thousand Words.
  • #4,997
  • Apr 20, 2010 10:31pm Apr 20, 2010 10:31pm
Hey there EV, just roaming a'rd and saw the news about the new addition.... congrats and hope all is well with everyone.

Here's to a "full quiver" bro...
FUBAR...
  • #4,998
  • Apr 21, 2010 2:20am Apr 21, 2010 2:20am
Quoting ak4x
Hey there EV, just roaming a'rd and saw the news about the new addition.... congrats and hope all is well with everyone.

Here's to a "full quiver" bro...
Thanks for the congrats, mate, but you're about 30 years too late as far as I'm concerned!

The new arrival is over at Forex007's residence!

Nice to hear from you though! Hope you are keeping well.
  • #4,999
  • Apr 21, 2010 2:35am Apr 21, 2010 2:35am
Come on thread! What about 125? What about the Nikkei? Dow? What about 143?
Gone to a better place
  • #5,000
  • Apr 21, 2010 4:09am Apr 21, 2010 4:09am
Quoting smikester
Come on thread! What about 125? What about the Nikkei? Dow? What about 143?
What are you on about?
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