Psych Levels, Pivots, and Trendlines - Resurrected | Page 292 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #5,821
  • Jan 28, 2011 3:57am Jan 28, 2011 3:57am
Quoting sidefx
Nice EV Where was your stoploss on this one initially?
Just under the spinning-top, mate....around 16 pips, with a target of around 23 pips (Main Pivot Line).
  • #5,822
  • Jan 28, 2011 4:00am Jan 28, 2011 4:00am
missed this neat long in EU.

M15.

tweezers / bullish engulfing off the xx75 & sm1.
also an 85/15.

did someone take it?

cheers.
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  • #5,823
  • Jan 28, 2011 4:00am Jan 28, 2011 4:00am
..nice momentum through the DP and waiting for confirmation...
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  • #5,824
  • Jan 28, 2011 4:01am Jan 28, 2011 4:01am
Quoting eyevoltage
Just under the spinning-top, mate....around 16 pips, with a target of around 23 pips (Main Pivot Line).
cheers EV.
  • #5,825
  • Jan 28, 2011 4:04am Jan 28, 2011 4:04am
Quoting pgd
missed this neat long in EU.

M15.

tweezers / bullish engulfing off the xx75 & sm1.
also an 85/15.

did someone take it?

cheers.
my post crossed...nice confluence Pgd. Not quite my bag in so far as i like to see a bit more headroom if trading setups counter to the DP, i prefer to take them short if price below the DP and longs above.
  • #5,826
  • Jan 28, 2011 4:07am Jan 28, 2011 4:07am
Quoting sidefx
..nice momentum through the DP and waiting for confirmation...
...i'm in now from 3727 tgting the psych50 which is also WR1. I'm using near as damn it 1:1 risk/reward. There is a tighter stop level on the 5min but wanted to give it more room to breathe.
  • #5,827
  • Jan 28, 2011 4:08am Jan 28, 2011 4:08am
Expect some sellers right here on pound....
  • #5,828
  • Jan 28, 2011 4:13am Jan 28, 2011 4:13am
Quoting sidefx
my post crossed...nice confluence Pgd. Not quite my bag in so far as i like to see a bit more headroom if trading setups counter to the DP, i prefer to take them short if price below the DP and longs above.
point noted.
  • #5,829
  • Jan 28, 2011 4:15am Jan 28, 2011 4:15am
Quoting sidefx
...i'm in now from 3727 tgting the psych50 which is also WR1. I'm using near as damn it 1:1 risk/reward. There is a tighter stop level on the 5min but wanted to give it more room to breathe.
may be near exhaustion.
your oscillator CII is already overbot at entry.
  • #5,830
  • Jan 28, 2011 4:19am Jan 28, 2011 4:19am
Confluence of factors indicates some potential resistance here.
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  • #5,831
  • Jan 28, 2011 4:23am Jan 28, 2011 4:23am
Quoting pgd
may be near exhaustion.
your oscillator CII is already overbot at entry.
Yes, there are times when i disregard the OB/OS levels and let price action take precedence. I liked the momentum behind this move up from your excellent spot from the swing low and i'm happy on this trade to hold for a while to see if it becomes a concerted effort to break the Asian high...
  • #5,832
  • Jan 28, 2011 4:28am Jan 28, 2011 4:28am
Very clear in hindsight eh?

This is a very bearish pattern...
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  • #5,833
  • Jan 28, 2011 4:30am Jan 28, 2011 4:30am
Quoting Musashi
Very clear in hindsight eh?

This is a very bearish pattern...
Nice chart, Musashi.
  • #5,834
  • Jan 28, 2011 4:32am Jan 28, 2011 4:32am
Quoting sidefx
...i'm in now from 3727 tgting the psych50 which is also WR1. I'm using near as damn it 1:1 risk/reward. There is a tighter stop level on the 5min but wanted to give it more room to breathe.
...stops now moved in line with the 5min RbS switch. 3718.
  • #5,835
  • Jan 28, 2011 4:43am Jan 28, 2011 4:43am
Again rejection at that level... bearish...
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  • #5,836
  • Jan 28, 2011 4:46am Jan 28, 2011 4:46am
Quoting sidefx
...stops now moved in line with the 5min RbS switch. 3718.
...and out for +12 on the 5min rejection of 45.
Attached Image
  • #5,837
  • Jan 28, 2011 5:00am Jan 28, 2011 5:00am
All the ducks lined up on this one for a decent short... EJ.

GU broke out of that rising wedge now... bit risky though it's ranging pretty badly...
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  • #5,838
  • Jan 28, 2011 5:06am Jan 28, 2011 5:06am
Price levels combined with previous support resistance zones.
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  • #5,839
  • Jan 28, 2011 5:25am Jan 28, 2011 5:25am
I really thought hard about this level and exiting here for about 10 pips.

However I chose not to. As you can see that previous resistance level prevented price from going lower.

That's trading....
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  • #5,840
  • Jan 28, 2011 5:33am Jan 28, 2011 5:33am
Ok now that's what I call a nice hold....was just about to move the TP level as well and it got hit... phew..
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