xx00 xx25 xx50 xx75 levels | Page 2 | Forex Factory

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Attachments: xx00 xx25 xx50 xx75 levels
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xx00 xx25 xx50 xx75 levels

  • #21
  • Jul 30, 2010 6:35am Jul 30, 2010 6:35am
Quoting T.E.Lawrence
Often this fight is in the area 13 pips from a level (reaching half of the range i.e between xx13 and xx87, using 5min chart).
Never really looked at this on other currencies but gu definitely also likes 85/15, better half and I always looked at it as stop sweeps. Meaning if gu falling through 15 level it 'COULD' go through to 85 level and vice versa.
  • #22
  • Jul 30, 2010 6:38am Jul 30, 2010 6:38am
Quoting T.E.Lawrence
Watch out around xx00 levels - there's always some fight. Usually fake-outs and pullbacks, so there's always some opportunity around those levels to watch PA's behavior. Often this fight is in the area 13 pips from a level (reaching half of the range i.e between xx13 and xx87, using 5min chart).

Always try to observe PA for some time before jumping to conclusion. And the best times are in the first few hours after Frankfurt and London open, when there's momentum.

I avoid jumping on first sign, always after a close of chosen TFs.
I agree with you, x.xx00 and x.xx50 are the best for congestion. Usually I avoid or am very careful around the x.xx00 and in doubt wait next x.xx25 for a return to the level or continuation. And for me fibolevels are very important, they are excellent for targets. Also have S&R on monthly chart. This 1.3006 is one of them, 1.3553 above and 1.2404 below.


AJR
Ready for War
  • #23
  • Jul 30, 2010 6:56am Jul 30, 2010 6:56am
Quoting Vantage
Never really looked at this on other currencies but gu definitely also likes 85/15, better half and I always looked at it as stop sweeps. Meaning if gu falling through 15 level it 'COULD' go through to 85 level and vice versa.
Exactly.
  • #24
  • Jul 30, 2010 6:57am Jul 30, 2010 6:57am
Quoting AJR
I avoid jumping on first sign, always after a close of chosen TFs.
I agree with you, x.xx00 and x.xx50 are the best for congestion. Usually I avoid or am very careful around the x.xx00 and in doubt wait next x.xx25 for a return to the level or continuation. And for me fibolevels are very important, they are excellent for targets. Also have S&R on monthly chart. This 1.3006 is one of them, 1.3553 above and 1.2404 below.


[size=3][FONT=Times...
Just try to make it as simple as possible, or you're gonna end up with too many lines.
  • #25
  • Jul 30, 2010 7:22am Jul 30, 2010 7:22am
Quoting T.E.Lawrence
Just try to make it as simple as possible, or you're gonna end up with too many lines.

Right. Agree.

Only the ones I mentioned.

Cleaned my charts long time ago.

That’s why I find so difficult reading Fontu’s charts.
AJR
Ready for War
  • #26
  • Jul 30, 2010 7:53am Jul 30, 2010 7:53am
Quoting AJR

That’s why I find so difficult reading Fontu’s charts.
AJR
^^
  • #27
  • Jul 30, 2010 7:54am Jul 30, 2010 7:54am
levels at work:

Attached Image (click to enlarge)
Click to Enlarge Name: chart2.jpg Size: 110 KB
  • #28
  • Jul 30, 2010 8:41am Jul 30, 2010 8:41am
This is for the ones who don´t want to draw the levels manually.
Attached File(s)
File Type: mq4 SweetSpotsGOLD.mq4   4 KB | 399 downloads
File Type: ex4 SweetSpotsGOLD.ex4   4 KB | 334 downloads
  • #29
  • Jul 30, 2010 3:23pm Jul 30, 2010 3:23pm
......and here's another to play around with.
Attached File(s)
File Type: ex4 SDX-SweetSpots_v5.2.ex4   8 KB | 335 downloads
File Type: mq4 SDX-SweetSpots_v5.2.mq4   12 KB | 393 downloads
  • #30
  • Aug 2, 2010 3:09am Aug 2, 2010 3:09am
Missed the earlier bounce off 25 level. Scaped 14 pips from this hl bounce above 75. Exited when we tried 2nd time for RN and failed.
Attached Image (click to enlarge)
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  • #31
  • Aug 3, 2010 1:53am Aug 3, 2010 1:53am
This is why I like these levels:

look at this chart
Attached Image (click to enlarge)
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I marked the last range with blue rectangle. Normally, I would probably sell after the range was broken and the next candle closed below, especially when there's so much space for a free fall. But I didn't - because I knew there was xx50 level on the way, and look, it stopped and reversed the PA.

Another thing I like is the simplicity. I don't have to analyze the whole chart looking for previous S/R lines based on PA in the last few hours (or during the overnight session). I'm not focusing on the history, but on what's going on right now. I always look at the bigger time frames first, but then, go back into 5 or 15 min charts and scalp.

Sometimes when there's strong momentum and PA has already gone +10 pips I place SL and BE and let it flow until PA reaches the next level.

So, in some way, these levels help me understand current PA and its behavior, and give clues on what can happen in the near future.
  • #32
  • Aug 3, 2010 3:05am Aug 3, 2010 3:05am
You're a man after my own heart, TE.......definitely an advocate of the expression "less is more". I hope you manage to keep this thread going, mate.
  • #33
  • Aug 3, 2010 3:22am Aug 3, 2010 3:22am
Also traded that one.

Used FiboPivots for target. 50% out on first resistance and 25% on second.

Good fall on usdx towards the 80.00 so no scalping. Just letting it run till 1.3275.

My support chart below.

AJR
Attached Image (click to enlarge)
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Ready for War
  • #34
  • Aug 3, 2010 3:31am Aug 3, 2010 3:31am
Quoting eurotrash
This is not why round numbers "work". They don't magically get some sort of importance from some esoteric numerology. Read Osler.
:edit:
And another big reason for round numbers acting as S/R is options.
So you're saying that they work because there are larger concentrations of orders there and that there is more attention paid to them than other prices?

Are you sure? That's too simple.
  • #35
  • Aug 3, 2010 4:21am Aug 3, 2010 4:21am
Quoting FXSurfer
So you're saying that they work because there are larger concentrations of orders there and that there is more attention paid to them than other prices?

Are you sure? That's too simple.
True, it must be reacting to that sacred geometry pattern I superimposed on my MT4 screen. The more ancient it is the more powerful it is, and it has to be very powerful to go through my MT4 screen through the internet and cause price to bounce. (It helps to use multiple patterns as they each have their own special powers. Confluence = winner.)

  • #36
  • Aug 3, 2010 5:21am Aug 3, 2010 5:21am
Example:

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entered long after this pullback to xx25, and closed with profit.
  • #37
  • Aug 3, 2010 5:25am Aug 3, 2010 5:25am
Trade taken gu 25 psych level. Moves up through, test lower fails entry on move up in line with trend.
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  • #38
  • Aug 3, 2010 7:05am Aug 3, 2010 7:05am
I hope TE doesn't mind me posting this on his thread, but seeing as I've been trading in a similar fashion to this method, perhaps this would be useful to those amongst us who haven't bothered with psych-lines before.
The chart shows how I use the lines. I look for candlestick reversals, patterns, HL's and LH's, retracements etc.

1) Harami candle.
2) Higher low.
3) Retracement.
4) Railroad Tracks/Higher low.
5) Brief consolidation.

On the Double Top pattern, the second peak is a Shooting Star candle with lots of momentum coming off it across the psych50 line.

Hope this helps.
Attached Image (click to enlarge)
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  • #39
  • Aug 3, 2010 7:11am Aug 3, 2010 7:11am
contributions are always welcomed
  • #40
  • Aug 3, 2010 7:13am Aug 3, 2010 7:13am
Quoting eyevoltage
I hope TE doesn't mind me posting this on his thread, but seeing as I've been trading in a similar fashion to this method, perhaps this would be useful to those amongst us who haven't bothered with psych-lines before.
The chart shows how I use the lines. I look for candlestick reversals, patterns, HL's and LH's, retracements etc.

1) Harami candle.
2) Higher low.
3) Retracement.
4) Railroad Tracks/Higher low.
5) Brief consolidation.

On the Double Top pattern, the second peak is a Shooting Star candle with lots of momentum coming off it across...
Hi EV
Just chipping in with something that I recently saw. The double top you show. The shooting star is a 2b pattern and is talked about in quite a few threads. Where a candle fails with a new high ie the shooting star in this instance, the fall below that candles low is the entry. Clicked that Islander often commented on a candle that goes a few pips higher and fails.

Anyway I digress. The 2 b candle at a psych level seems to be a nice set up.
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