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Psych Levels, Pivots, and Trendlines - Resurrected

  • #6,321
  • Feb 23, 2011 5:43am Feb 23, 2011 5:43am
EJ-M15

was away from comp for a bit and ended up missing that nice long above __50 & TL break after the double bottom.
hope some of you managed to take it.

cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: ej-20110223-2.gif Size: 82 KB
  • #6,322
  • Feb 23, 2011 5:52am Feb 23, 2011 5:52am
Bullish flag formed on the mid-point level. Entry just above the high of the first sign of a break-out, and bail-out was because I was happy with the 20 pips it gave me.
  • #6,323
  • Edited 5:59am Feb 23, 2011 5:54am | Edited 5:59am
Quoting eyevoltage
Bullish flag formed on the mid-point level. Entry just above the high of the first sign of a break-out, and bail-out was because I was happy with the 20 pips it gave me.
Sorry. Here's the chart......

Edit: Totally forgot to mention, of course, that my bail-out was round the xx75 point, which isn't marked on the chart.
Attached Image
  • #6,324
  • Feb 23, 2011 5:57am Feb 23, 2011 5:57am
Quoting pgd
EJ-M15

was away from comp for a bit and ended up missing that nice long above __50 & TL break after the double bottom.
hope some of you managed to take it.

cheers.
I posted mine without even realizing you had already posted.
  • #6,325
  • Feb 23, 2011 6:11am Feb 23, 2011 6:11am
ev, others,

today EU hasn't hit the main Pivot at all.
it has stayed above the Pivot all day.

are we looking at a strong reversal coming up in the US session?

thanks.
  • #6,326
  • Feb 23, 2011 6:17am Feb 23, 2011 6:17am
Quoting eyevoltage
I posted mine without even realizing you had already posted.
Ah!
I'm glad you nailed it, ev.

I had not seen that as a bull flag.
always good to see a different perspective.
  • #6,327
  • Feb 23, 2011 7:24am Feb 23, 2011 7:24am
Continuing with breakouts from flags - and remember guys, EV's been trading these for years http://www.forexfactory.com/images/icons/icon12.gif - without any pips over the BOE news I'm showing ~115 gross pips just following behind the low of each 5m candle.

There's ~15 pips in the last trade, the short that's still open, with the stop at +9 pips. The 6225 area was resistance earlier, so probably best to bank ~20 pips there......

For me, this is a nice KISS way to bank pips http://www.forexfactory.com/images/icons/icon6.gif
Attached Image (click to enlarge)
Click to Enlarge Name: feb 23 gu 5m 1315 gmt.gif Size: 42 KB
Trading Levels with WRBs
  • #6,328
  • Edited 9:25am Feb 23, 2011 8:20am | Edited 9:25am
Quoting Islander
Continuing with breakouts from flags - and remember guys, EV's been trading these for years http://www.forexfactory.com/images/icons/icon12.gif - without any pips over the BOE news I'm showing ~115 gross pips just following behind the low of each 5m candle.

There's ~15 pips in the last trade, the short that's still open, with the stop at +9 pips....
Islander,

beautiful, very educative!

that last entry (quite a subtle one) and the larger-than-usual flag, I would never have seen.

your post also provides a possible answer to my earlier query on runners.

I am printing this chart and putting it in a picture frame.

thanks.
  • #6,329
  • Feb 23, 2011 8:27am Feb 23, 2011 8:27am
Been busy with other things, but to reinforce Islander's comment regarding flags, here's yet another one that would have yielded a nice return of 20 pips or so.
Attached Image
  • #6,330
  • Feb 23, 2011 9:22am Feb 23, 2011 9:22am
Quoting pgd
Islander,

beautiful, very educative!

that last entry (quite a subtle one) and the larger-than-usual flag, I would never have seen.

your post also provides a possible answer my earlier query on runners.

I am printing this chart and putting it in a picture frame.

thanks.

Thanks I had thought that it might help with an idea for your query on runners http://www.forexfactory.com/images/icons/icon12.gif

The last entry was after a second LH, which alerted us to the proability of a short and it did reach the 25 level / yesterdays high confluence, so IMO better to exit around there given the time of day and US news coming later.....
Trading Levels with WRBs
  • #6,331
  • Edited 12:51pm Feb 23, 2011 10:11am | Edited 12:51pm
Quoting Islander
Thanks I had thought that it might help with an idea for your query on runners http://www.forexfactory.com/images/icons/icon12.gif

The last entry was after a second LH, which alerted us to the proability of a short and it did reach the 25 level / yesterdays high confluence, so IMO better to exit around there given the time of day and US news coming later.....
Islander,

some queries about that chart:

1.
you've marked slope lines on price chart and CII window. normally, u use them to indicate divergence. Barring one instance, i don't see divergence there. are u are using them here simply to indicate LH's and HL's ?

2.
re. last entry, u mentioned 2nd LH. are you counting from the earlier big spiked top?

3.
Hidden Gap Volume Indicator: what is "hidden gap"?
what do you use it for?
i see the bars are in several colours. what does each color indicate?
perhaps you have a separate file explaining this indicator and its use.
would u kindly post the indicator (prerferably .mq4, if available) along with its explanatory file.

edit:
4.
Your chart bears info re. upcoming news event. Do you use an indicator to do this? would you kindly post it too...

thanks.
  • #6,332
  • Edited 11:32am Feb 23, 2011 11:19am | Edited 11:32am
Quoting pgd
Islander,

some queries about that chart:

1.
you've marked slope lines on price chart and CII window. normally, u use them to indicate divergence. Barring one instance, i don't see divergence there. are u are using them here simply to indicate LH's and HL's ?

OK - #1 CII H @ 06:50, price H @ 07:05 with LH...
[color=blue]I hope the above helps http://www.forexfactory.com/images/icons/icon7.gif

Edit: blast, none of my comments made it into the post......I'll try again....
Trading Levels with WRBs
  • #6,333
  • Feb 23, 2011 12:59pm Feb 23, 2011 12:59pm
Quoting Islander
[color=blue]I hope the above helps http://www.forexfactory.com/images/icons/icon7.gif

Edit: blast, none of my comments made it into the post......I'll try again....
Islander,

I see the problem. If the quoted text is over a certain size, it gets truncated.

so, if you want to interpolate your responses within a message, u could remove the QUOTE tags[] at the start and end of the message under reply and then respond by interpolation using a different colour.
  • #6,334
  • Feb 24, 2011 3:15am Feb 24, 2011 3:15am
Nice long in EU-M5 above pivot and __25 for 30 pips.

entry: 1.3736
exit : 1.3766 (mR1)
Attached Image (click to enlarge)
Click to Enlarge Name: eu-20110224-1.gif Size: 21 KB
  • #6,335
  • Feb 24, 2011 3:18am Feb 24, 2011 3:18am
GM all - selling either an hour before FO gave some great pips.

Both € with its 4th rejection of the 3785 area and cable with its LH at its MR 1 / 15m 20 ema were clear opportunities - I was still in bed!

Whilst cable tried to hold its 6200 area at FO, € carried on with a clean drop into LO and its 3700 area, so the better one to stay with.

Both had wide ranged ~20 pip red candles into their lows with rising CII.

Since then, cable has held under its 38% retrace of its fall - 6180 is also a S/R level, whereas € only hesitated at its 38% retrace - the 3 small green candles ~its DP / 20 EMA - before taking off north in a wide ranged green semi marubozo, so for me a safe buy above that area....
Attached Image (click to enlarge)
Click to Enlarge Name: feb 24 eu gu 5m 1000 esp.gif Size: 58 KB
Trading Levels with WRBs
  • #6,336
  • Edited 5:18am Feb 24, 2011 3:19am | Edited 5:18am
Morning, folks.
This is trading purely psych-lines on the 15m EJ....

The bullish piercing pattern (blue square) was hard to ignore, and unusually for me, resulted in a "contra-trend" trade. A very conservative entry and exit are as indicated.
Attached Image
  • #6,337
  • Feb 24, 2011 3:21am Feb 24, 2011 3:21am
Quoting pgd
Nice long in EU-M5 above pivot and __25 for 30 pips.

entry: 1.3736
exit : 1.3766 (mR1)
Well done......the same entry as I've just suggested

I'll now respond to your earlier post....and I'm holding partial € long in case that 85 area breaks......TWT
Trading Levels with WRBs
  • #6,338
  • Feb 24, 2011 3:23am Feb 24, 2011 3:23am
Quoting pgd
Nice long in EU-M5 above pivot and __25 for 30 pips.

entry: 1.3736
exit : 1.3766 (mR1)
Nice one, mate. You're picking them out with ease now!
  • #6,339
  • Feb 24, 2011 3:38am Feb 24, 2011 3:38am
[quote=pgd;4423563]Islander,

some queries about that chart:

1.
you've marked slope lines on price chart and CII window. normally, u use them to indicate divergence. Barring one instance, i don't see divergence there. are u are using them here simply to indicate LH's and HL's ?
As I see it, at those turns, CII had turned at least 1 candle before price, so a "take a good look" warning to watch the PA

2.
re. last entry, u mentioned 2nd LH. are you counting from the earlier big spiked top?
Yes

3.
Hidden Gap Volume Indicator: what is "hidden gap"?
what do you use it for?
i see the bars are in several colours. what does each color indicate?
perhaps you have a separate file explaining this indicator and its use.
would u kindly post the indicator (prerferably .mq4, if available) along with its explanatory file.
HiddenGap is a very experienced trader and indicator writer, who mainly posts here:
vsa with Malcolm and here Auction Market Theory and Market Profile
however, as this thread is not about the use of volume, I'll try to remember to hide it when I post - its a huge subject!
edit:
4.
Your chart bears info re. upcoming news event. Do you use an indicator to do this? would you kindly post it too...
No indy, just added manually - I always check the FF calendar when I start my day.

thanks./quote

Now I hope this all gets posted......http://www.forexfactory.com/images/icons/icon11.gif

Edit: and it did, so another little trick learnt - thx pgd for that idea
Trading Levels with WRBs
  • #6,340
  • Feb 24, 2011 4:15am Feb 24, 2011 4:15am
Quoting Islander
Well done......the same entry as I've just suggested

I'll now respond to your earlier post....and I'm holding partial € long in case that 85 area breaks......TWT
Islander,

as u had anticipated, the __85 area broke.

now this becomes an 85/15 trade targeting __15, I suppose.
and highs of 3-Feb (1.3825) and 1-Feb (1.3860) ?
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