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

  • #6,341
  • Feb 24, 2011 4:41am Feb 24, 2011 4:41am
Quoting pgd
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) ?

Yes it finally broke and we have a new high in a graveyard doji at todays R1.....now to see if the area holds as support for another leg up to the areas you've suggested - we might need the US traders onboard first....

A useful tip, wide ranged candles are often seen at the start and end of moves and also during strong moves. Here the grey arrows are from a candle size indy set to 15 for the candle body.....BFN
Attached Image (click to enlarge)
Click to Enlarge Name: feb 24 eu 5m 1130 esp.gif Size: 20 KB
Trading Levels with WRBs
  • #6,342
  • Feb 24, 2011 5:09am Feb 24, 2011 5:09am
Quoting eyevoltage
Nice one, mate. You're picking them out with ease now!
ev,

all credit goes to knowledgeable, kind and selfless people such as islander, vantage, barry cade and yourself, not to forget acumen who started this thread, though i haven't had the good fortune of communicating with him yet.

thank you, all.

the recent addition of minicharts in my right margin has helped. they have reduced tabbing around time by about 70% (i use only 1 screen)! now, I just keep the M5 open in eu, gu, ej for most of the time. while sitting on M5, I can see candle formations on TF's M15, H1, H4 and the price position with respect to their respective ema20's.

also, I had a tendency to look for reversals most of the time. in the company of you illustrious people, I have started focusing on the more important continuations.

the things that fell into place mostly on hindsight are now falling into place in realtime!

with much gratitude,
may all be happy.
  • #6,343
  • Feb 24, 2011 5:15am Feb 24, 2011 5:15am
Quoting pgd
ev,

all credit goes to knowledgeable, kind and selfless people such as islander, vantage, barry cade and yourself, not to forget acumen who started this thread, though i haven't had the good fortune of communicating with him yet.

thank you, all.

with much gratitude,
may all be happy.
You're entirely welcome, old chap.
  • #6,344
  • Feb 24, 2011 5:34am Feb 24, 2011 5:34am
Quoting pgd
Nice long in EU-M5 above pivot and __25 for 30 pips.

entry: 1.3736
exit : 1.3766 (mR1)
Nice pgd that was 2 good for me, I thought it was going to drop I had forgotten the obvious S/R area from 1hr. We had an evening star sell that went nowhere on gu at that time.

Anyway Mrs V and I are on board the flag train.

Cheers
  • #6,345
  • Feb 24, 2011 5:46am Feb 24, 2011 5:46am
Hi Guys,

1st post in this thread, been lurking for a while..lol

Learning everythin I can from Islander, Medici, eyevoltage, Vantage and some VSA

Attached chart is of EU, price rejection at R1, price then breaks below the 1.3800 level then retests 00 psych level (fast MA's also confirm short term trend change)

Entry at 1.3794 stop 1.3799 risk 5 pips +1 pip spread
Target 1.3744 just below 75 psych line

+20 pips

I second pgd's comments,thanks for the continued education
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (1 Min) 24_02_2011 Short +20.jpg Size: 106 KB
  • #6,346
  • Feb 24, 2011 5:56am Feb 24, 2011 5:56am
Quoting Vantage
Nice pgd that was 2 good for me, I thought it was going to drop I had forgotten the obvious S/R area from 1hr. We had an evening star sell that went nowhere on gu at that time.

Anyway Mrs V and I are on board the flag train.

Cheers

Hi V - another convert - w have to thank EV for keeping posting with flags - I finally joined him
Trading Levels with WRBs
  • #6,347
  • Feb 24, 2011 5:58am Feb 24, 2011 5:58am
Quoting Sakk
Hi Guys,

1st post in this thread, been lurking for a while..lol

Learning everythin I can from Islander, Medici, eyevoltage, Vantage and some VSA

Attached chart is of EU, price rejection at R1, price then breaks below the 1.3800 level then retests 00 psych level (fast MA's also confirm short term trend change)

Entry at 1.3794 stop 1.3799 risk 5 pips +1 pip spread
Target 1.3744 just below 75 psych line

+20 pips

I second pgd's comments,thanks for the continued education
Nice trade, mate, and welcome aboard.
  • #6,348
  • Feb 24, 2011 6:01am Feb 24, 2011 6:01am
Quoting Sakk
Hi Guys,

1st post in this thread, been lurking for a while..lol

Learning everythin I can from Islander, Medici, eyevoltage, Vantage and some VSA

Attached chart is of EU, price rejection at R1, price then breaks below the 1.3800 level then retests 00 psych level (fast MA's also confirm short term trend change)

Entry at 1.3794 stop 1.3799 risk 5 pips +1 pip spread
Target 1.3744 just below 75 psych line

+20 pips

I second pgd's comments,thanks for the continued education
Thanks, it makes the effort of posting worthwhile http://www.forexfactory.com/images/icons/icon7.gif

Well done with your trade, nice pips in your bank http://www.forexfactory.com/images/icons/icon14.gif

€'s now close to a 50% retrace of the rally at 3755 and the 15m 20 ema......will this area hold??......TWT
Trading Levels with WRBs
  • #6,349
  • Feb 24, 2011 6:02am Feb 24, 2011 6:02am
Quoting Islander
Hi V - another convert - w have to thank EV for keeping posting with flags - I finally joined him
I thought I was a voice in the wilderness!!

Flags and other similar patterns are criminally ignored by most traders.

Glad to see you and V (and Mrs.V, of course) getting on board!
  • #6,350
  • Feb 24, 2011 6:09am Feb 24, 2011 6:09am
thanks guys, just trying to join the 5% club

and the bounce off 50% fib and the 50psych level as Islnder just posted has occured
  • #6,351
  • Edited 7:36am Feb 24, 2011 6:13am | Edited 7:36am
I'm watching 15m bullish flags on EU, EJ and AU. Fib levels are featuring very strongly.

Edit: In the end, I decided against trading them. The EJ and AU I discounted immediately, and only decided against the EU because of the close proximity of yesteday's high.
  • #6,352
  • Feb 24, 2011 6:32am Feb 24, 2011 6:32am
Quoting Islander
Yes it finally broke and we have a new high in a graveyard doji at todays R1.....now to see if the area holds as support for another leg up to the areas you've suggested - we might need the US traders onboard first....

A useful tip, wide ranged candles are often seen at the start and end of moves and also during strong moves. Here the grey arrows are from a candle size indy set to 15 for the candle body.....BFN
yes, and i've seen wide ranged candles are accompanied by high volume bars. so, in a move such as the one shown in your chart, how do u distinguish, in real time, the wide ranged momentum candles from the wide ranged exhaustion candles?

would you post that candle size indicator for me please
and, the one that automatically marks the green/pink s/r zone for you...

thanks.
  • #6,353
  • Edited 7:20am Feb 24, 2011 6:53am | Edited 7:20am
Quoting eyevoltage
I'm watching 15m bullish flags on EU, EJ and AU. Fib levels are featuring very strongly.
bot EU 3771.

edit:
targetting 3800.

edit:
it's stalling.
out 3781.

edit:
adding chart basis for my trade.
perhaps I exited too early...
Attached Image (click to enlarge)
Click to Enlarge Name: eu-20110224-2.gif Size: 38 KB
  • #6,354
  • Feb 24, 2011 7:08am Feb 24, 2011 7:08am
Quoting pgd
yes, and i've seen wide ranged candles are accompanied by high volume bars. so, in a move such as the one shown in your chart, how do u distinguish, in real time, the wide ranged momentum candles from the wide ranged exhaustion candles?

would you post that candle size indicator for me please
and, the one that automatically marks the green/pink s/r zone for you...

thanks.
Differentiating between the large ranged candles in mainly down to where they happen in relation to a move AND what happens in the next candle - I especially look for a marubozo type candle (totally solid candle or very small wicks as a semi marubozo) that has little or no follow through. If you see this after a reasonable move - for the time of the day - tighten up your stop or bank, especially around S/R or another "level"

Candle indy is attached and the green / pink areas are just hand drawn coloured rectangles in S/R areas taken from a higher TF chart - again start of my day / pre-trading homework http://www.forexfactory.com/images/icons/icon12.gif

PS - I too got long after the second hit on the 50 area http://www.forexfactory.com/images/icons/icon6.gif

Now the early US traders are here as the Bond Traders start their day, lets hope they fuel up the noth-bound express.....http://www.forexfactory.com/images/icons/icon10.gif
Attached File(s)
File Type: mq4 CandleSizeAlert.mq4   4 KB | 282 downloads
Trading Levels with WRBs
  • #6,355
  • Feb 24, 2011 7:18am Feb 24, 2011 7:18am
Quoting Islander
Differentiating between the large ranged candles in mainly down to where they happen in relation to a move AND what happens in the next candle - I especially look for a marubozo type candle (totally solid candle or very small wicks as a semi marubozo) that has little or no follow through. If you see this after a reasonable move - for the time of the day - tighten up your stop or bank, especially around S/R or another "level"

Candle indy is attached and the green / pink areas are just hand drawn coloured rectangles in S/R areas taken from a...
Islander,

all noted.
thanks.

edit:
what's your entry level on the EU long?
  • #6,356
  • Feb 24, 2011 7:32am Feb 24, 2011 7:32am
Another trade off my psych-line chart. A Dark Cloud Cover on the confluence of the 34ema and the xx75 psych-line. Entry and exit as shown.
Attached Image
  • #6,357
  • Feb 24, 2011 7:56am Feb 24, 2011 7:56am
Quoting eyevoltage
Another trade off my psych-line chart. A Dark Cloud Cover on the confluence of the 34ema and the xx75 psych-line. Entry and exit as shown.
nice one.

didn't see it.
was looking for longs.
  • #6,358
  • Feb 24, 2011 8:11am Feb 24, 2011 8:11am
ev,

looking to go long above 85 in eu-M15.
makes sense?
  • #6,359
  • Feb 24, 2011 8:15am Feb 24, 2011 8:15am
Quoting pgd
ev,

looking to go long above 85 in eu-M15.
makes sense?
Price right now is touching yesterday's high, with R1 a further 19 pips further up. Could be a nice little tickle for you!!
  • #6,360
  • Feb 24, 2011 8:22am Feb 24, 2011 8:22am
Quoting eyevoltage
Price right now is touching yesterday's high, with R1 a further 19 pips further up. Could be a nice little tickle for you!!
yes.

in __87
out __94
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