Which ones are you referring to, mate? And why is the chart duplicated? Did you trade ALL those ups and downs?
Sorry for the questions, but I'm definitely not well today, pal.
Psych Levels, Pivots, and Trendlines - Resurrected
- #5,223
- Oct 4, 2010 8:35am Oct 4, 2010 8:35am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
- #5,225
- Oct 4, 2010 9:48am Oct 4, 2010 9:48am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
yep and one of the 5min bull flag just before the H1 bull flag breakout then the other after the H1 bullflag breakout no brainers! lol
The H1 flag was main reason for me looking long this morning when the H1 LO candle came off the low of the flag and then to give it more strenght closed back above the major bull trendline.
And now has pretty much stoped dead on H1 resistance so far.
H1 chart below.
Cheers.
- #5,226
- Oct 12, 2010 3:11am Oct 12, 2010 3:11am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
- #5,228
- Oct 12, 2010 4:06am Oct 12, 2010 4:06am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Nice EV, no trades for me as yet, my fault was watching gu churn around and missed perfect 5 min lh sell on eur.
Mrs V gonna want some explaining done (shes having a morning off).
I should have done that one.
- #5,229
- Oct 12, 2010 6:33am Oct 12, 2010 6:33am
See what you mean, mate. This 15m view of EU shows just what a lovely trade it would have been. An entry just after the drop below S1 and out at the mid-point line for around 16 or 17 pips, then another entry just below S1 after the retrace, ending up with another 20 pips or so.
I should have done that one.
I must say your chart is the cleanest chart.. in ff ..
i really love watching your chart.. Btw.. what pivot point indicator do u use?
thanks
- #5,230
- Oct 12, 2010 7:14am Oct 12, 2010 7:14am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
eyevoltage
I must say your chart is the cleanest chart.. in ff ..
Btw.. what pivot point indicator do u use?
thanks
I'm attaching the pivot point indy, plus another one which will fill in the pivot mid-levels like you see on my chart. You can customise them both so that you can back-test as far back as you like.
Cheers for now.
- #5,231
- Oct 12, 2010 9:15am Oct 12, 2010 9:15am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
I got interested in this one as the consolidation along the S1 line briefly reached down to the Pivot Mid-Level (PML) and came back up again. A bullish candle with a substantial upper shadow indicated that the bulls weren't having it their own way, a fact that was confirmed by the following (bearish) candle. The bulls, in turn, put some pressure on, forcing price back up to the S1 line, leaving a nice lower shadow that provided the second point of what became a handy little trend line. In addition, this candle provided a LH and I awaited to see if the little TL would be breached. The next candle did indeed breach the TL and showed a lot of momentum which prompted me to jump in to what turned out to be a very nice trade.
Patience and observation is all that's needed. I wish I could practice both disciplines more often!!
Patience and observation is all that's needed. I wish I could practice both disciplines more often!!
- #5,232
- Oct 13, 2010 3:29am Oct 13, 2010 3:29am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
This downward channel started forming well before I surfaced for the day. I was watching to see what it would do as price neared the Pivot Point and the hammer-type candle right on the PP, followed by a HL was very encouraging. It was then simply a case of entering after the bullish breakout. Nice and simple.
- #5,233
- Oct 13, 2010 3:47am Oct 13, 2010 3:47am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
- #5,234
- Edited 10:10am Oct 13, 2010 10:00am | Edited 10:10am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
They say patience is its own reward. Maybe so, but in this case the reward was a good, although lucky, trade.
A bullish piercing pattern just below the pivot mid-level and an entry above the high of the piercing candle. I was a bit slow in my exit - I wasn't prepared for the spike through R1, so I let it run to see what would happen. I guess I was very fortunate with the result, as bailing out early was probably the right thing to do.
Edit: I should have mentioned that the entry point was right on a confluence formed by the PML line and a 50% fib line, which wasn't shown. Sorry about that.
A bullish piercing pattern just below the pivot mid-level and an entry above the high of the piercing candle. I was a bit slow in my exit - I wasn't prepared for the spike through R1, so I let it run to see what would happen. I guess I was very fortunate with the result, as bailing out early was probably the right thing to do.
Edit: I should have mentioned that the entry point was right on a confluence formed by the PML line and a 50% fib line, which wasn't shown. Sorry about that.
- #5,235
- Oct 13, 2010 10:25am Oct 13, 2010 10:25am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
This would have been a nice quick-ish trade. The more I look at these charts, and the more I take into account the original trading method of acumen, the more I start to take TL's into account. With this one, you have to take into account the utter confusion of price action on the PML, before making its mind up and heading north, and thereby breaking through the TL. There wasn't a lot of room before R1, but enough to harvest around 20 pips or so. The fact that price was the right side of the Main pivot line didn't hurt either! 
- #5,236
- Oct 13, 2010 10:42am Oct 13, 2010 10:42am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
They say patience is its own reward. Maybe so, but in this case the reward was a good, although lucky, trade.
A bullish piercing pattern just below the pivot mid-level and an entry above the high of the piercing candle. I was a bit slow in my exit - I wasn't prepared for the spike through R1, so I let it run to see what would happen. I guess I was very fortunate with the result, as bailing out early was probably the right thing to do.
Edit: I should have mentioned that the entry point was right on a confluence formed by the PML line...
LOL, darnit, here was me going to say that the low was on the 61.8 retrace.....glad to see that you're still quietly squirreling away pips for a rainy day http://cdn.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
- #5,237
- Oct 13, 2010 11:35am Oct 13, 2010 11:35am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
PS - Medici's even got me trading the Aussie too....
glad to see that you're still quietly squirreling away pips for a rainy day http://cdn.forexfactory.com/images/icons/icon12.gif
And I'm QUIETLY squirreling away pips, because it's QUIET on here!!
It's that quiet, you made me jump!!
- #5,238
- Oct 13, 2010 7:14pm Oct 13, 2010 7:14pm
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
After price crossed into the new day, it sought out the Main Pivot line. If you look at the candles as price neared the line, you'll see that there's a lot of indecision in those candles, with only one actually reaching the MPL. The result of this was a positive bullish move up with some strong momentum. A trade well worth waiting for before heading off to bed. 
- #5,239
- Oct 14, 2010 3:44am Oct 14, 2010 3:44am
Hi EV, great thread and keen to get to grips with the way you (and others here) trade...i'm currently short EU from this setup, i struggle a bit with exits but i guess that will come with experience...many thanks for your continued posts
- #5,240
- Oct 14, 2010 4:23am Oct 14, 2010 4:23am
i'm currently short EU from this setup, i struggle a bit with exits but i guess that will come with experience...many thanks for your continued posts