Psych Levels, Pivots, and Trendlines - Resurrected | Page 306 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Adr, psych levels, demand & supply trading 15 replies

Standard Pivots and Fibonnaci Pivots? 9 replies

EUR/USD 5min - Trendlines and Pivots 379 replies

Important psych levels 1 reply

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Attachments: Psych Levels, Pivots, and Trendlines - Resurrected
Exit Attachments

Psych Levels, Pivots, and Trendlines - Resurrected

  • #6,101
  • Feb 11, 2011 4:29am Feb 11, 2011 4:29am
Quoting Larseg
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...
That was a long signal for me, adding on if I am right later..
  • #6,102
  • Feb 11, 2011 4:38am Feb 11, 2011 4:38am
Round numbers in the prices of currency pairs present strong psychology barriers in the progress of a trend. Such levels tend to define strong support and resistance areas. Here, I uploaded few examples.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Round Number SR.PNG Size: 59 KB

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Round Number SR.PNG Size: 58 KB

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF Round Number SR.PNG Size: 57 KB
  • #6,103
  • Feb 11, 2011 5:06am Feb 11, 2011 5:06am
Quoting Larseg
That was a long signal for me, adding on if I am right later..

Got a bit choppy there... def no adding to the CO position...


next...
  • #6,104
  • Feb 11, 2011 6:30am Feb 11, 2011 6:30am
Very nice trend today, easy to trade such trends appears my original target would of been hit quite easily, oh well never mind.

Hope you all made nice pips out of it.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 93 KB
  • #6,105
  • Feb 12, 2011 12:29pm Feb 12, 2011 12:29pm
Mushashi or anyone else suitably qualified,

I would be grateful if someone could kindly tell me if the system being traded has changed at all since it was introduced in 2008.

Many thanks,

Andrew
  • #6,106
  • Feb 12, 2011 4:45pm Feb 12, 2011 4:45pm
Quoting volvo264
Mushashi or anyone else suitably qualified,

I would be grateful if someone could kindly tell me if the system being traded has changed at all since it was introduced in 2008.

Many thanks,

Andrew
Thats a good question, I think most traders which uses this system has modified it. We all do....
So its important that you modify whatever system you will adapt also. Cause only you know how much pain you can take and so on....

Interesting that you registered here in 2005, what happen?
  • #6,107
  • Edited 12:09pm Feb 13, 2011 11:58am | Edited 12:09pm
Quoting Larseg
Thats a good question, I think most traders which uses this system has modified it. We all do....
So its important that you modify whatever system you will adapt also. Cause only you know how much pain you can take and so on....

Interesting that you registered here in 2005, what happen?


Many thanks for the kind reply.

It appears that I am misunderstanding something here. I was under the impression that the system traded here was based on the commercial model sold here http://www.thefxpivotpoint.com/ .
If that is the correct then my question is :
"Has this trading system being offered commercially changed in any way since its inception in 2008 or has the system itself stayed the same since its introduction "
I would be extremely grateful if someone who knows be generous enough to answer.

http://www.forexfactory.com/images/m...ading_dark.gif http://www.forexfactory.com/images/buttons/edit.gif
  • #6,108
  • Feb 13, 2011 12:58pm Feb 13, 2011 12:58pm
Quoting volvo264
[left]
Many thanks for the kind reply.

It appears that I am misunderstanding something here. I was under the...
I had no idea there was a commercial product available that teaches you how to trade around Pivot Points / Fibonacci Retracement Levels / Round Numbers.

Sounds like a very good idea as this is basically what I trade using. Hence the reason why I started posting in this thread. Watching how price behaves at key levels in the market is pretty much it.

Key Levels in the Market are:

1. 00, 25, 50, 75 levels
2. Fibonacci Levels 38,50,61
3. Previous Support or Resistance Levels in the Market.

If you find price in a region on the chart which has all three of those Key Levels at the same time, pay attention to price and what it is doing as you'll have a nice trade about to setup.

Daily / Weekly Pivot Points for my money are a total waste of time. Much better to stick to the 00, 25, 50, 75 levels as potential Support / Resistance zones combined with Fibonacci and Previous Support / Resistance.

That's pretty much it. Patience and Discipline.
  • #6,109
  • Feb 13, 2011 1:18pm Feb 13, 2011 1:18pm
I've found pivots points placed on a daily chart to be one of the most effective day trading tools ever. So do many banks.
  • #6,110
  • Feb 13, 2011 5:19pm Feb 13, 2011 5:19pm
Quoting Musashi
I had no idea there was a commercial product available that teaches you how to trade around Pivot Points / Fibonacci Retracement Levels / Round Numbers.

Sounds like a very good idea as this is basically what I trade using. Hence the reason why I started posting in this thread. Watching how price behaves at key levels in the market is pretty much it.

Key Levels in the Market are:

1. 00, 25, 50, 75 levels
2. Fibonacci Levels 38,50,61
3. Previous Support or Resistance Levels in the Market.

If you find price in a region on the chart which has all...

Thank you. I see what happened now. Acumen started this thread and you continued with your strategy.

The strategy you use looks good because it looks as if it will still work five or ten years down the road. Its a great contribution and I will study your posts more carefully.
  • #6,111
  • Feb 13, 2011 8:50pm Feb 13, 2011 8:50pm
Well. Certainly looks like no direction again as we start the new week. We are right at the pivot. I'd rather wait for some weekly direction before I start.

Hey eyevoltage - How many pairs do you trade?
  • #6,112
  • Feb 13, 2011 9:09pm Feb 13, 2011 9:09pm
Quoting volvo264
[left]
Many thanks for the kind reply.

It appears that I am misunderstanding something here. I was under the...
As the title of the thread reveals, acumen started this thread to demonstrate his way of using pivot points, psych-lines and trend lines to highlight high probability opportunities.
It isn't a "system" as such. It's a method of trading that can be adapted by individual traders to suit their own preferences. As Musashi has pointed out, for instance, he doesn't place much faith in pivot points and prefers to rely on psych-lines. Acumen himself places a lot of faith in pivot points, and using these, plus psych-lines, trendlines and sometimes fibs, he's been pretty successful down the years.
His commercial product "Trading In The Black" is a method of trading that is similar to what you can find on this thread, but has subtle differences.
"Trading In The Black" didn't spawn the method used in various ways on this thread. The thread came first, and then acumen developed his commercial product quite some time after.
Hope this helps.
  • #6,113
  • Feb 13, 2011 10:35pm Feb 13, 2011 10:35pm
Quoting fxpreacher
Well. Certainly looks like no direction again as we start the new week. We are right at the pivot. I'd rather wait for some weekly direction before I start.

Hey eyevoltage - How many pairs do you trade?

Hi fxpreacher.....

I watch GU, EU, EJ and AU
  • #6,114
  • Feb 13, 2011 11:18pm Feb 13, 2011 11:18pm
How goes it, hope everyone had a great weekend.

So far from the charts EJ looking like the best setup.
  • #6,115
  • Feb 13, 2011 11:22pm Feb 13, 2011 11:22pm
EJ consolidating nicely, trending down for the moment until price heads above the 112.75 level.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 91 KB
  • #6,116
  • Feb 13, 2011 11:48pm Feb 13, 2011 11:48pm
hey ev,

hope u had a good weekend.
see anything worthwhile?

cheers.
  • #6,117
  • Feb 14, 2011 12:34am Feb 14, 2011 12:34am
Quoting pgd
hey ev,

hope u had a good weekend.
see anything worthwhile?

cheers.
Nothing much yet, mate. All pretty much sideways atm. 7.00am should liven things up a bit.
  • #6,118
  • Feb 14, 2011 12:57am Feb 14, 2011 12:57am
GU shaping up nicely for a possible reversal intraday...
  • #6,119
  • Feb 14, 2011 1:49am Feb 14, 2011 1:49am
Shorting EJ here...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 96 KB
  • #6,120
  • Feb 14, 2011 2:24am Feb 14, 2011 2:24am
Price breaking down now... momentum is good.

Could go on for another 40 pips yet to reach the Average Daily Range...
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 98 KB
2 traders viewing now