Psych Levels, Pivots, and Trendlines - Resurrected | Page 285 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #5,681
  • Jan 19, 2011 10:37am Jan 19, 2011 10:37am
Quoting eyevoltage
Many thanks, mate, much appreciated.

Looks like your SL is safe at the moment, with price heading north again. Good luck with that one.
...1st tgt (RN) might get clocked soon, if lucky, not holding breath, so stop to b/e. Good learn! edit: stopped b/e. Probably won't touch anything else for a while until the US get back from lunch.
  • #5,682
  • Jan 19, 2011 11:11am Jan 19, 2011 11:11am
Quoting sidefx
...so we have indecision just below DR1 followed by bullish bounce candle which has now been tested again and beyond a few pips. What constitutes confirmation...price closing above the bull candle?...any guidance much appreciated.

Edit: ascending triangle around the RN now, so setting up for long on confirmation above 3500.
Confirmation would be the closing of the big bullish candle after the spinning-top below R1.
  • #5,683
  • Edited 11:59am Jan 19, 2011 11:15am | Edited 11:59am
....about to short EU.
edit: short from 3479
edit: hmm bullish off the DP for GU now (2mins to go), so this EU trade looking dodgy.
Attached Image (click to enlarge)
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  • #5,684
  • Jan 19, 2011 12:50pm Jan 19, 2011 12:50pm
Quoting sidefx
....about to short EU.
edit: short from 3479
edit: hmm bullish off the DP for GU now (2mins to go), so this EU trade looking dodgy.
momentum has really faded from the market.
wonder if it's worth a trade at all for now.

cheers.
  • #5,685
  • Jan 19, 2011 4:47pm Jan 19, 2011 4:47pm
Quoting pgd
momentum has really faded from the market.
wonder if it's worth a trade at all for now.

cheers.
Yes, not a great trade in terms of timing but thankfully it delivered 28 pips, came within a gnats whisker of being stopped out. Oanda chart with entry and exit.
Attached Image
  • #5,686
  • Jan 19, 2011 11:44pm Jan 19, 2011 11:44pm
Quoting sidefx
Yes, not a great trade in terms of timing but thankfully it delivered 28 pips, came within a gnats whisker of being stopped out. Oanda chart with entry and exit.
well done!

cheers.
  • #5,687
  • Jan 19, 2011 11:50pm Jan 19, 2011 11:50pm
eyevoltage and others,

any setups shaping up right now?

cheers.
  • #5,688
  • Jan 20, 2011 12:04am Jan 20, 2011 12:04am
Something going to happen around this level...
Attached Image (click to enlarge)
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  • #5,689
  • Jan 20, 2011 12:34am Jan 20, 2011 12:34am
Quoting Musashi
Something going to happen around this level...
Musashi,

what are the 2 light solid lines on your chart?

I see u r using an M7 TF on your chart.
Any advantage using this custom TF over the standard M5/M15 ?

cheers.
  • #5,690
  • Jan 20, 2011 12:40am Jan 20, 2011 12:40am
Quoting pgd
Musashi,

what are the 2 light solid lines on your chart?

I see u r using an M7 TF on your chart.
Any advantage using this custom TF over the standard M5/M15 ?

cheers.
HGrid.Weeks set to number of bars you want to look back.
HGrid.Pips 250 this will set the interval at the 00 25 50 75 levels in the market.
HLine Red
HLine2 DarkGreen

00 25 50 75 numbers are important levels.

Yes Range Bars I find are an advantage over time based bars. Each to their own however.

I very rarely use a sloping trend line, I prefer Support Resistance and the 00 25 50 75 levels, combined with bar patterns.

That's pretty much it.
Attached File(s)
File Type: mq4 Grid_v2.mq4   4 KB | 368 downloads
  • #5,691
  • Jan 20, 2011 1:00am Jan 20, 2011 1:00am
Quoting Musashi
HGrid.Weeks set to number of bars you want to look back.
HGrid.Pips 250 this will set the interval at the 00 25 50 75 levels in the market.
HLine Red
HLine2 DarkGreen

00 25 50 75 numbers are important levels.

Yes Range Bars I find are an advantage over time based bars. Each to their own however.

I very rarely use a sloping trend line, I prefer Support Resistance and the 00 25 50 75 levels, combined with bar patterns.

That's pretty much it.
Ah! I should have realised they are range bars as they all are the same size. how many pips range do u use?
can u please post your indicator for range bars.
I used to have one but it misbehaved when the market went fast.
so, i stopped using it.

thanks.
  • #5,692
  • Jan 20, 2011 1:16am Jan 20, 2011 1:16am
Quoting pgd
can u please post your indicator for range bars.

thanks.
It is a commercial version.

Support Resistance and bar patterns is much better
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  • #5,693
  • Jan 20, 2011 1:37am Jan 20, 2011 1:37am
Support Resistance Zones.... Price typically will move from one zone to the next...

Price reversed past previous resistance level time to exit.
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  • #5,694
  • Jan 20, 2011 2:01am Jan 20, 2011 2:01am
GU Short Bounce off of previous resistance plus 50 level in the market.

Stop above previous resistance and 50 level. Target next Level being the 25 level.

Price is consolidating between these levels now.

Once it gets outside of this zone it will move to the next consolidation zone.
Attached Image (click to enlarge)
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  • #5,695
  • Jan 20, 2011 2:06am Jan 20, 2011 2:06am
EU chart, price bounces off of 50 level almost to the pip and then moves to the next level in the market the 25 level...

This sort of thing occurs quite frequently...
Attached Image (click to enlarge)
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  • #5,696
  • Jan 20, 2011 2:17am Jan 20, 2011 2:17am
GU right at previous support level in the market now...

Good Chance of more downside from here again...
  • #5,697
  • Jan 20, 2011 3:03am Jan 20, 2011 3:03am
Quoting pgd
eyevoltage and others,

any setups shaping up right now?

cheers.
Morning, i'm watching GU atm to see how/if price reacts to the DP.
  • #5,698
  • Jan 20, 2011 3:32am Jan 20, 2011 3:32am
Quoting Musashi
HGrid.Weeks set to number of bars you want to look back.
HGrid.Pips 250 this will set the interval at the 00 25 50 75 levels in the market.
HLine Red
HLine2 DarkGreen

00 25 50 75 numbers are important levels.

Yes Range Bars I find are an advantage over time based bars. Each to their own however.

I very rarely use a sloping trend line, I prefer Support Resistance and the 00 25 50 75 levels, combined with bar patterns.

That's pretty much it.
Thanks for posting the indicator.
  • #5,699
  • Jan 20, 2011 3:34am Jan 20, 2011 3:34am
Quoting sidefx
Morning, i'm watching GU atm to see how/if price reacts to the DP.
There might be a fib play later on EU (long). Pulling back to DP now...
  • #5,700
  • Jan 20, 2011 3:34am Jan 20, 2011 3:34am
Quoting Musashi
GU right at previous support level in the market now...

Good Chance of more downside from here again...
Sometimes you get it wrong... which is why it's important to trade with a stop loss and good money management.
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