Psych Levels, Pivots, and Trendlines - Resurrected | Page 320 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #6,381
  • Feb 25, 2011 3:49am Feb 25, 2011 3:49am
Support zone right here...

scaled out...
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  • #6,382
  • Edited 5:07am Feb 25, 2011 4:43am | Edited 5:07am
posting this only as a flag breakout trade, and rejection of Rmid

just closed this short trade on the EU for+15 pips,

all 3 MA's confirm trend, the entry was at 1.38075 target just under the previous swing low of 1.3795

risk on trade 3 pips and moved to b/e at +5pips due to news

paid for an earlier mistake i made

add: was expecting a larger bouce thus the target was only 15 pips, closing half at +15 and trailing reaminder was the thing to do!
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  • #6,383
  • Feb 25, 2011 5:10am Feb 25, 2011 5:10am
Last trade I made, short on EU good for 20 pips.

All out now.

Good Night and trade well.
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  • #6,384
  • Feb 25, 2011 4:21pm Feb 25, 2011 4:21pm
Looks like GU made it to that level almost to the pip.
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  • #6,385
  • Feb 26, 2011 7:28am Feb 26, 2011 7:28am
Hello everybody.
I have been watching this thread and posted few trades before but had a change in my working schedule so have not been able to trade this style.
I especially like to watch EV's trades and set ups as it is very close to what I used to do while day trading. I always salivated seeing my trades go 50-100 pips after I bagged my 10-30 pips and made a detour into longer term trading which is probably not my forte. at least this is what my account told me

will resume posting trades and set ups. i also trade from 15 min but also watch 5 min, 1H and 3H (Oanda) and 4H daily on MT4. Price action or not it is good to see if it is into some S/R area on higher time frames.
  • #6,386
  • Feb 28, 2011 2:19am Feb 28, 2011 2:19am
GM all - whilst I now work off the 15m / 5m charts, for Frankies Hour I still prefer the detail provided by the 1 min chart as illustrated here....the action of the wider ranged marubozo's / semi marubozos is IMO well worth the effort http://www.forexfactory.com/images/icons/icon12.gif

Take your pick of the entries and the ultra wide ranged red marubozo at LO was beautiful to trade, straight down, candle closed, NFT and straight up into railroad tracks.....http://www.forexfactory.com/images/icons/icon6.gif

If it was summer, I'd take the rest of the day off http://www.forexfactory.com/images/icons/icon10.gif
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #6,387
  • Feb 28, 2011 4:30am Feb 28, 2011 4:30am
5m GU Psych-line trade......

Retrace to the xx00, railtracks formed, (very brief bullish flag) and entry and exit as indicated.
Attached Image
  • #6,388
  • Feb 28, 2011 4:39am Feb 28, 2011 4:39am
Quoting eyevoltage
5m GU Psych-line trade......

Retrace to the xx00, railtracks formed, (very brief bullish flag) and entry and exit as indicated.

Nice EV.....cable has been good to us this morning.....I was in that one too, exiting ~ R2

Now will we get another flag for a push up to the next resistance area.....TWT

Grey arrows show WR candles
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Trading Levels with WRBs
  • #6,389
  • Feb 28, 2011 4:44am Feb 28, 2011 4:44am
Quoting Islander

Now will we get another flag for a push up to the next resistance area.....TWT
Always a possibility, mate, and well worth waiting to find out! As you say, TWT.
  • #6,390
  • Feb 28, 2011 5:11am Feb 28, 2011 5:11am
Quoting eyevoltage
Always a possibility, mate, and well worth waiting to find out! As you say, TWT.

And it was .....the 6210 area of earlier resistance held as support as I showed on my chart..... a tight buy stop put me long and with a 15 pip TP as activity often shows at this time of the day and we already have a DR of 129.4

TP now hit, so time for a break till the US guys wake up....
Trading Levels with WRBs
  • #6,391
  • Feb 28, 2011 5:11am Feb 28, 2011 5:11am
A very narrow flag, two dojis formed on the 13ema. Entry and exit as shown.


Did you get it, Islander?

Edit: Yes, you got it. Just read your last post.
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  • #6,392
  • Feb 28, 2011 6:29am Feb 28, 2011 6:29am
Posted elsewhere but I did get this flag/hl reject of days open + fib retrace of Y's range at 6110. 15 min nice doji.

Out part at 6150 and part at 6175 when it had never followed through (poss R area from US session low on 23 Feb). I had to go out in any event.
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  • #6,393
  • Feb 28, 2011 6:33am Feb 28, 2011 6:33am
Quoting Islander
GM all - whilst I now work off the 15m / 5m charts, for Frankies Hour I still prefer the detail provided by the 1 min chart as illustrated here....the action of the wider ranged marubozo's / semi marubozos is IMO well worth the effort http://www.forexfactory.com/images/icons/icon12.gif

Take your pick of the entries and the ultra wide ranged red marubozo at LO was beautiful to trade, straight down, candle closed, NFT and straight up into railroad tracks.....http://www.forexfactory.com/images/icons/icon6.gif

If it was summer,...
I'm sure you're glad you stuck around.

Mrs V and I no longer use 1 min's!!

I am looking at starting trading day 45 mins before FO as there are often good moves 20-40 mins into the pre FO hour. TWT.

Anyway some very nice trading guys, on the lookout for those flags in the sessions trend.

Cheers.
  • #6,394
  • Feb 28, 2011 7:46am Feb 28, 2011 7:46am
Quoting Vantage
I'm sure you're glad you stuck around.

Mrs V and I no longer use 1 min's!!

I am looking at starting trading day 45 mins before FO as there are often good moves 20-40 mins into the pre FO hour. TWT.

Anyway some very nice trading guys, on the lookout for those flags in the sessions trend.

Cheers.
Hi V - trust that you and MrsV are well - and yes, those extra pips were nice. I dont watch the 1 mins - just drill down occasionally for clarification - but couldn't resist posting this morning's action.

Agreed, it looks like my alarm has to be set for FO minus an hour - like it used to be!

I took a sell just before NYO 1, on the break of R2 which had been support. I was looking for another 15 pips back into that support area and missed my TP by 2 pips and so closed manually for a couple.

We may have to wait fo the US Pending Home Sales in an hour+ for more action..
Trading Levels with WRBs
  • #6,395
  • Edited Mar 1, 2011 3:42am Feb 28, 2011 7:49am | Edited Mar 1, 2011 3:42am
ev,

with the 6240 area showing resistance over the past 3 hrs. are we slowly setting up for a short?
  • #6,396
  • Feb 28, 2011 9:33am Feb 28, 2011 9:33am
Quoting pgd
ev,

with the 6240 area showing resistence over the past 3 hrs. are we slowly setting up for a short?
Sorry for the delay, pg, but I had to go out for a while. It looks like R2/R3 mid-point level is providing the resistance right now. It's all a "wait and see" type of situation.
  • #6,397
  • Feb 28, 2011 4:54pm Feb 28, 2011 4:54pm
took few trades today. feel like I am somewhat off as have not been day trading for 6 months.
anyway, seems like I was right all but once simply closed trades too early. but the market looks like moves very slowly, trades were not working for up to 1 hour, so, i closed then and some went to my targets.
I also leave at 6:00 a.m. EST and then also come back at 10:00 a.m. till 1:00 p.m. opened tardes just befor eleaving. hard to do it actually as I cannot control trades. one missed TP by 3 pips and hit stop loss.
ok. here my trades.

http://img9.imageshack.us/img9/137/eu15min.png

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http://img816.imageshack.us/img816/6755/ej15min.png

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EV, I used to trade similar to you but never used psychological levels like 00, 25, 50 and 75 to enter exit trades. I must be sloppy with my entries as I think. Few entries as I see now I made too late with increased risk.
  • #6,398
  • Feb 28, 2011 5:29pm Feb 28, 2011 5:29pm
Shiko wrote: EV, I used to trade similar to you but never used psychological levels like 00, 25, 50 and 75 to enter exit trades. I must be sloppy with my entries as I think. Few entries as I see now I made too late with increased risk.

Hi Shiko.....does that mean that you're now considering using the psychs? I've found that EJ and AU seem to respect psych-lines more than other pairs. Pivot points, Psychs, Fibs, TL's, Patterns etc.......all fair game on this thread, mate! Plus, it's amazing how price can bounce of the ema's as well, giving some good trades.
  • #6,399
  • Feb 28, 2011 5:54pm Feb 28, 2011 5:54pm
Quoting eyevoltage
Shiko wrote: EV, I used to trade similar to you but never used psychological levels...

Hi EV, yes, I was trying to use these levels while trading. so far entries were not so good as I entered late few times.
I also have never used these EMA's. so, have things to learn actually. I have been following this thread without posting. Really like your trades. They are simple and beautiful and I like simplicity.
  • #6,400
  • Mar 1, 2011 2:10am Mar 1, 2011 2:10am
GM - Frankies Hour saw cable turn at its earlier LH of 6285 and drop into midhour to its earlier support ~its DO level of 6253 for a fast bounce back to its 85 area for LO - so a nice channel move and the speed of the rally IMO suggest a continuaion above 6300.....TWT

Edit: now > 6300!
Trading Levels with WRBs
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