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Psych Levels, Pivots, and Trendlines - Resurrected

  • #5,381
  • Nov 19, 2010 4:38am Nov 19, 2010 4:38am
Quoting zhdeef
I took this trade as bounce off MR1 RN50 confluence.

Entered on green candle's high 16062. Was going to settle for a target at 75 but it kept going. Set TP of 25. It was a bit close to today's theatre of news but a good call (or just lucky).
Nice one, zh.......I've been too busy with other things this morning to trade, but I've been monitoring the situation. I would probably have taken that one as well, but there we go......c'est la vie!
  • #5,382
  • Nov 19, 2010 4:47am Nov 19, 2010 4:47am
Quoting eyevoltage
Nice one, zh.......I've been too busy with other things this morning to trade, but I've been monitoring the situation. I would probably have taken that one as well, but there we go......c'est la vie!
Hi EV

I've just been messing in the last 10mins with an indi that gives weekly & monthly PPs. Noticed that the move topped at the weekly PP 16092. I must look at these lines too. I'm beginning to really like PPs. Thanks for the encouragement.
  • #5,383
  • Nov 19, 2010 4:57am Nov 19, 2010 4:57am
Quoting zhdeef
Hi EV

I've just been messing in the last 10mins with an indi that gives weekly & monthly PPs. Noticed that the move topped at the weekly PP 16092. I must look at these lines too. I'm beginning to really like PPs. Thanks for the encouragement.
Yep, you can't beat them, mate. I'm toying with the idea of including weekly pp's, but I don't bother with monthly ones.
  • #5,384
  • Nov 19, 2010 6:05am Nov 19, 2010 6:05am
Quoting david4u
2b.... visit V's thread >>> 1st post
RN = round number (X.0000, X.2500 ,X.5000, X.7500)

Much appreciated. I am going senile. I even read the first few pages of Vs thread last week. D'oh.

These terms werent being used on this thread 12 months ago, but I can see the progress thats been made - everyone now more focussed on original ideas of the thread esp 15 min with a couple of specific tweaks, and with cleaner charts - EV will be pleased!
  • #5,385
  • Nov 19, 2010 6:18am Nov 19, 2010 6:18am
Quoting Barry Cade
Much appreciated. I am going senile. I even read the first few pages of Vs thread last week. D'oh.

These terms werent being used on this thread 12 months ago, but I can see the progress thats been made - everyone now more focussed on original ideas of the thread esp 15 min with a couple of specific tweaks, and with cleaner charts - EV will be pleased!
Ecstatic, actually!!
  • #5,386
  • Nov 19, 2010 6:43am Nov 19, 2010 6:43am
Quoting eyevoltage
Ecstatic, actually!!
Outstanding. Well, having read thro the last 12 months of posts and V's views on HL LH, plus candlestick formations, Ive also been looking at these principles on longer timeframes, indices, oil and a couple of stocks, I now dont think I need to master anything else (except volume, so EV we will have to disagree on that one).

This principles of this thread (initially) appears to work universally, just need to identify psych levels on other tradeable instruments.

Anyway I am resetting my MT4 now so I can trade seriously with what I am now convinced works, and experiment less.

Thanks to all.

I will intraday trade again when I have more time, but in the meantime will make these occasional interruptions, which I hope will show encouragement to any lurkers that this thread is mega-important, and has helped me more than any trading book Ive read (theres quite a few!).
  • #5,387
  • Nov 19, 2010 7:19am Nov 19, 2010 7:19am
Quoting Barry Cade
Outstanding. Well, having read thro the last 12 months of posts and V's views on HL LH, plus candlestick formations, Ive also been looking at these principles on longer timeframes, indices, oil and a couple of stocks, I now dont think I need to master anything else (except volume, so EV we will have to disagree on that one).

This principles of this thread (initially) appears to work universally, just need to identify psych levels on other tradeable instruments.

Anyway I am resetting my MT4 now so I can trade seriously with what I am now convinced...
I second that, coupling what i've learned here with key supply and demand levels is dynamite.
  • #5,388
  • Nov 20, 2010 1:36pm Nov 20, 2010 1:36pm
Excellent thread guys!
I have traded Pivots and S/R levels for some time. But I have a lot to learn and I am sure this is the place.
  • #5,389
  • Nov 22, 2010 3:58am Nov 22, 2010 3:58am
This is a nice example of a HL trade. It formed right on the mid-point level and entry and exits are as indicated. I was a bit dubious about the 2 dojis after the entry candle, and any sign of a reversal would have had me bailing out.
(Also posted on V's thread).
Attached Image
  • #5,390
  • Nov 22, 2010 10:20am Nov 22, 2010 10:20am
After a solid drop for a couple of hours, a bearish flag formed. Entry and exit as shown.
Attached Image
  • #5,391
  • Nov 22, 2010 12:17pm Nov 22, 2010 12:17pm
Quoting eyevoltage
After a solid drop for a couple of hours, a bearish flag formed. Entry and exit as shown.

Eyevoltage, Hi,
I wonder, i have been looking for this strategy rules on the page 1 and have not found anything.
Could you let me know what are the rules?
Do we take positions only from pivot points and round numbers?
  • #5,392
  • Nov 22, 2010 3:09pm Nov 22, 2010 3:09pm
Quoting shiko
Eyevoltage, Hi,
I wonder, i have been looking for this strategy rules on the page 1 and have not found anything.
Could you let me know what are the rules?
Do we take positions only from pivot points and round numbers?
I would suggest that you read Acumens messages (the originator of the thread) for the original approach. then read through the last few months of the thread to understand how the (excellent) guys here now apply the principles, along with a few tweaks.

I have just read the last 12 months messages because I know how valuable this thread is.
  • #5,393
  • Nov 22, 2010 4:30pm Nov 22, 2010 4:30pm
Quoting shiko
Eyevoltage, Hi,
I wonder, i have been looking for this strategy rules on the page 1 and have not found anything.
Could you let me know what are the rules?
Do we take positions only from pivot points and round numbers?
Great advice from Barry Cade, mate. Get an understanding of acumen's original method and then take it from there. Look at the charts and see how others have been trading. Study how price reacts at pivot points and psych-lines. Look for candle reversal patterns and also look for continuation patterns such as flags, wedges, pennants, triangles etc., in particular, those that form across a S/R line. Look to use trendlines when you can.....and they don't have to be very long ones, either. Some very short TL's have produced great results!
You'll be surprised at just how many different types of trading opportunities acumen's method offers!
Good luck and I look forward to any contributions from you, mate.
  • #5,394
  • Nov 22, 2010 4:33pm Nov 22, 2010 4:33pm
Quoting Barry Cade
I would suggest that you read Acumens messages (the originator of the thread) for the original approach. then read through the last few months of the thread to understand how the (excellent) guys here now apply the principles, along with a few tweaks.

I have just read the last 12 months messages because I know how valuable this thread is.
Thank you Barry Cade, I am already doing this. But as i understand, this thread is based upon previous thread where some rules were provided, otherwise I pick bits here and there but no complete picture and no even set up. It would be very helpful to know original set up while reading this thread from the start which I am doing right now.
  • #5,395
  • Nov 22, 2010 4:36pm Nov 22, 2010 4:36pm
Quoting eyevoltage
Great advice from Barry Cade, mate....

Thank you EV, I am actually doing it right now
I just have no idea what is original set up of the charts we tarde, emas 13/34?
Pivot points based upon London time?
do we only take those trades that happens around pivots. round numbers , trend lines and s/r areas?

Thank you and have a good day
I will start posting as I start trading too
  • #5,396
  • Nov 22, 2010 4:44pm Nov 22, 2010 4:44pm
especially pivot points. i am drawing pivot points manually from Action Forex. Now I have checked Mataf site where they have different time zones for drawing Pivots and I see that Action Forex and Mataf pivots differ a lot.
For example: Action fores shows G/U daily pivot at 1.5979 while Mataf shows 1.6012-1.6015
I trade Europe/ London open so, i wonder which pivots are accurate for me?

Mataf: http://www.mataf.net/en/tools/03-01-pivot-point


or:

Action Forex: http://www.actionforex.com/markets/p...2010040873429/
  • #5,397
  • Edited 5:01pm Nov 22, 2010 4:59pm | Edited 5:01pm
Quoting shiko
Thank you EV, I am actually doing it right now
I just have no idea what is original set up of the charts we tarde, emas 13/34?
Pivot points based upon London time?
do we only take those trades that happens around pivots. round numbers , trend lines and s/r areas?

Thank you and have a good day
I will start posting as I start trading too
Hi again.
The 13/34ema combination was something I tried for a while and it gave some good results. It was mainly a pull-back method, but of course, only worked when there was a decent trend. I've since dropped the 13 and retained the 34 for directional purposes, and using it as an additional source of S/R, depending on the trend.
There's no ONE set-up involved in this method, mate, but rather a combination of different types, as I pointed out in my previous post.
As to WHERE you take a trade, the answer is in the title of the thread, mate! That's the whole point. How price reacts to different S/R levels and how we can take advantage of these opportunities.
Stick around, watch and wait, and judge for yourself just how good this method is!


Edit: Just seen your last post.....are you using the MT4 platform or something else? If it's something else, then it's going to be a bit awkward when it comes to pivot indicators etc.
  • #5,398
  • Nov 22, 2010 5:15pm Nov 22, 2010 5:15pm
Quoting shiko
especially pivot points. i am drawing pivot points manually from Action Forex. Now I have checked Mataf site where they have different time zones for drawing Pivots and I see that Action Forex and Mataf pivots differ a lot.
For example: Action fores shows G/U daily pivot at 1.5979 while Mataf shows 1.6012-1.6015
I trade Europe/ London open so, i wonder which pivots are accurate for me?

Mataf: http://www.mataf.net/en/tools/03-01-pivot-point


or:

Action Forex: http://www.actionforex.com/markets/p...2010040873429/...
You can have a look at this pivots indi it has an adjustable start time. If you are trading London anything starting in and around midnight gmt will work well.

You can use the PP multitime for W and M pivots, especially weekly pivots also important.
Attached File(s)
File Type: ex4 Pivots.ex4   22 KB | 345 downloads
File Type: ex4 Pivot Points Multitimeframe.ex4   50 KB | 402 downloads
  • #5,399
  • Nov 22, 2010 5:17pm Nov 22, 2010 5:17pm
You're up late, mate!! What's up? Can't sleep?
  • #5,400
  • Nov 22, 2010 5:22pm Nov 22, 2010 5:22pm
Quoting eyevoltage
You're up late, mate!! What's up? Can't sleep?
No EV, I am actually in Canada. I am up late when London opens , LOL. Have been trading this way for about a year.
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