Psych Levels, Pivots, and Trendlines - Resurrected

indeed, special thanks to u mate for the idea

Not at all, old chap.

Three trades today on cable, just utilizing the psych-lines. Pretty straightforward trades.....entries and exits indicated in green.

Nice trades EV, I got a nice sell on gu for +24, missed a good 2b set up though. Got busy on other things and going out now also.

Cheers.

A nice example of a rising wedge pattern which fulfilled its bearish probability. I should have taken this one, but didn't, and I still can't understand why! Go figure.

12 pips off a buy at the ema and the 50 line following a doji and an upside down hammer. (Ignore the buy line; it's a longer time strategy I use.)

Nice trade, mate. I was away from the computer for a while, otherwise I'd have commented sooner. Nice to know there's someone else out there keeping it all simple!

These two trades from earlier in the day were what I hoped would be the start of some lively trading, but cable seems to have decided to take a rest.
The first trade was initiated by the hanging-man bang on the xx25 psych-line, followed by a LH candle. I got out with +7 pips on that one, not only because price looked like it was retracing, but also because it had failed to at least reach the xx00 psych-line that it had reached before.
The second trade was better, after a nice bearish doji formed just under the confluence of the xx25 psych-line and the 34ema. Another LH followed, an invitation I gladly accepted! There was a brief hesitation just above the xx00 psych-line before price dropped almost straight down to the xx75 psych-line, where I bailed out with +25 pips. I was aware of there being some news activity around that time, so I was watching this one like a hawk!

This is one of those lovely trades you wait for and then miss for one reason or another. In this case, it was because I was called away from the computer.

A really nice Bullish Piercing Pattern formed right on the xx25 psych-line, and my probable entry and exit are clearly indicated, although I'm not sure whether or not I'd have waited to see if price would have reached the Main Pivot Point. Nevertheless, it would have been a nice trade from a classic set-up.

EV which MA r u using? And is it that without the MA you don't trade?

I use a 34ema, mate, and if I understand you correctly, sometimes I DO trade without it, but there's no hard and fast rule regarding that. Most of the time, I use it. Other times, I don't.

Morning, folks, for the first time in a while.

Been some nice opportunities on EJ this morning. The chart says it all really, apart from the fact that I missed the first two opportunities due to other commitments.

The first one was after a hammer on the xx50 psych-line, followed by a bullish engulfing candle. The second one after a retracement to the xx75 psych-line and a break-through of the 34ema. The third opportunity I managed to take, and it was a result of a break-out of the consolidation on the xx00 psych-line.

Nice examples all, and I'm only sorry I missed the first two. After yesterday's poor showing, it's particularly frustrating. Never mind. Onward and upward!

This is a CT trade,which I don't indulge in that often. However, seeing as it was a fairly strong reversal pattern involving a dragonfly doji, which also formed a harami, I felt it was worth a go. As can be seen, an exit just under the xx25 psych-line as price approached the 34ema.
As I said, I don't normally do CT trades, but the reversal pattern, coupled with the fact that price was some way from the 34ema made my mind up.

I miss half my trades because of sleep.

Being at least 5 hours behind GMT, I suppose you do. My sympathies, old chap.

Another small trade that cropped up, but I'm a bit slow in posting this one, as I'm busy on and off with other things ATM.
A nice bearish flag pattern initiated this one, but instead of jumping in on the break, I waited for a break of the 34ema. I thought price might have reached the xx00 psych-line, but the candle didn't quite reach it and for some reason, I wasn't too confident it would, so I bailed.

.....but I didn't get this one due to me getting some lunch under my belt!!

A bearish engulfing pattern formed slightly under the xx25 psych-line, and I've indicated where I would have probably entered and exited the trade. The fairly strong retracement to just under the 34ema would have provided a bit of nuisance value, but it wouldn't have threatened my SL, so I would have run with it.

hi there everyone,i was actually waiting for he MPC minutes meeting news to be released,i was actually seeing a sell retracement on all the 3 pairs i trade,eurusd,gbpusd and audusd and wow it happened.i am still very bullish on the 3 pairs so i am waiting for some good entry point to go long,anyone on this with me???

I hope you got something out of all that, mate, but I was sitting on the sidelines until everything settled down!!

This was a nice trade on EU, with a good set-up. A bullish engulfing candle right on the xx50 psych-line set it off and entry was just above high of the B.E.C. After price managed to breach the confluence of the xx80 psych-line and the mid-point, I didn't push my luck and bailed.

A lovely set-up led to this trade, although I missed the symmetrical triangle pattern break-out earlier due to other commitments.

The trade was initiated by a gravestone-doji straddling R1, and then it was a case of waiting to see if price would breach the 34ema and carry on down. Entry was under the low of the second breaching candle, and after a couple of dojis at the xx50 psych-line, strong momentum took price down to around the mid-point, which seemed a good place to jump ship.
No indicators.....just candlesticks, lines and an ema.