Psych Levels, Pivots, and Trendlines - Resurrected | Page 305 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #6,081
  • Feb 10, 2011 3:16am Feb 10, 2011 3:16am
ev, others

EJ near pivot.
any trade setting up?

cheers.
  • #6,082
  • Feb 10, 2011 3:16am Feb 10, 2011 3:16am
Quoting Musashi
EJ perfect short potential here.. hope you guys see the same thing as I am seeing..
Def. going your way here :=)

Do you use the sprayed are as SL? above off course...
  • #6,083
  • Feb 10, 2011 3:18am Feb 10, 2011 3:18am
Gotta watch it opening a short position so close to a 00 25 50 75 level however pattern is there good chance it will go down to the 50 level..

EU was the pair to trade today it seem... EJ will most certainly move somewhat after this 75 level fails...
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  • #6,084
  • Feb 10, 2011 3:19am Feb 10, 2011 3:19am
Quoting Larseg
Def. going your way here :=)

Do you use the sprayed are as SL? above off course...
Obvious resistance region on the chart as highlighted by the Previous Support Level acting as resistance.

Only spot for a Stop as if this level fails to hold then price will go long..
  • #6,085
  • Feb 10, 2011 3:22am Feb 10, 2011 3:22am
This was the setup I was eye balling on the EU pair earlier this session.

I took GU instead.
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  • #6,086
  • Feb 10, 2011 3:24am Feb 10, 2011 3:24am
Today's pivots have been helpful.....important BOE news later this morning....
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Trading Levels with WRBs
  • #6,087
  • Feb 10, 2011 3:39am Feb 10, 2011 3:39am
Short covering time I suspect coming soon... exited for 1 x risk
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  • #6,088
  • Feb 10, 2011 3:49am Feb 10, 2011 3:49am
Quoting Musashi
This was the setup I was eye balling on the EU pair earlier this session.

I took GU instead.

Very nice setup Musashi... +v...
  • #6,089
  • Feb 10, 2011 3:59am Feb 10, 2011 3:59am
Quoting Islander
Today's pivots have been helpful.....important BOE news later this morning....
Islander,

did u go short below 6100 marked by 1st red arrow in your chart?
that level was resisting price for a long time. what was the trigger at the specific moment you went short?

re. long around 6070:
is that taken on the strength of the oscillator divergence?

what oscillator are you using there?

thanks.
  • #6,090
  • Feb 10, 2011 7:19am Feb 10, 2011 7:19am
Afternoon, folks.....

A nice little harami (blue square) candle coming off the TL initiated this trade. An entry just under the confirming candle on the spinning-top, followed by strong momentum candles. Exit as shown in the zone formed by the mid-point level and yesterday's low.
Attached Image
  • #6,091
  • Feb 10, 2011 7:49am Feb 10, 2011 7:49am
Quoting eyevoltage
Afternoon, folks.....

A nice little harami (blue square) candle coming off the TL initiated this trade. An entry just under the confirming candle on the spinning-top, followed by strong momentum candles. Exit as shown in the zone formed by the mid-point level and yesterday's low.
ev,

nice one.
  • #6,092
  • Feb 10, 2011 9:53am Feb 10, 2011 9:53am
Quoting eyevoltage
Afternoon, folks.....

A nice little harami (blue square) candle coming off the TL initiated this trade. An entry just under the confirming candle on the spinning-top, followed by strong momentum candles. Exit as shown in the zone formed by the mid-point level and yesterday's low.
Nice EV the neg close candle formed an evening star pattern, a high prob set up. The opp morning star patterns obviously just as nice.
  • #6,093
  • Feb 10, 2011 3:17pm Feb 10, 2011 3:17pm
EurUsd
Looks like 1.3600 was a nice psych level this time
4H has an inside bar but looks like more selling should come around the corner soon.
1H Looks very bearish, just had a suckers rally for 50 pips
30M Same
15M Same

5M looks like it is going to bounce

conclusion: waiting for volume as this is a 60:40 trade on the downside...
Not sure if volume will kick in before 9-10 hours due to JPY holiday...
  • #6,094
  • Feb 11, 2011 1:31am Feb 11, 2011 1:31am
Very strong support here 6000-6050, descending triangle, failure at top or continuation up?
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  • #6,095
  • Feb 11, 2011 1:35am Feb 11, 2011 1:35am
Rejection at the 75 level on euro... it's a shorting day as long as price stays below that level... otherwise longs are the name of the game... 3585 resistance level...
  • #6,096
  • Feb 11, 2011 1:55am Feb 11, 2011 1:55am
3530 TP region
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  • #6,097
  • Edited 2:42am Feb 11, 2011 2:15am | Edited 2:42am
No surprises here 3550 level holding price up...

Oh well I'm going to exit.. no momentum around this level is not a good sign... have a good weekend all..
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  • #6,098
  • Feb 11, 2011 3:55am Feb 11, 2011 3:55am
Quoting Musashi
No surprises here 3550 level holding price up...

Oh well I'm going to exit.. no momentum around this level is not a good sign... have a good weekend all..
Nice sellout on H4 and H1 is getting there soon,
Im not sure if we will see 1.3500 but we should...

However, I will put on a long with 12 SL if we get a 12-14 pip bullrun...

See how it goes...
  • #6,099
  • Feb 11, 2011 4:01am Feb 11, 2011 4:01am
Quoting Musashi
No surprises here 3550 level holding price up...

Oh well I'm going to exit.. no momentum around this level is not a good sign... have a good weekend all..
Missed the 15 min doji sell around 3561. Waited for the lh sell 3544. Target Mon low 3507 but any TP below 25 psych level and we'll be happy enough. Off out to shops any min now.
  • #6,100
  • Feb 11, 2011 4:10am Feb 11, 2011 4:10am
1004 GMT (Dow Jones) UK bank trader hearing some talk that a large US bank needs to buy a large amount of USD against a basket of currencies Friday. He says details are very vague at the moment and it may just be that the story is fitting the crime, as the USD is stronger across the board in Europe. EUR/USD trades at 1.3521, USD/CHF 0.9715, USD/JPY 83.50 and GBP/USD 1.6050. ([email protected])


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