Psych Levels, Pivots, and Trendlines - Resurrected | Page 321 | 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

  • #6,401
  • Mar 1, 2011 2:22am Mar 1, 2011 2:22am
So 6300 was the November high and IF it holds, the next target is the 2010 High set in January at 6450......

So far, all green 5 min candles since the equal low in FH, so part still open with a trail now at 6315
Trading Levels with WRBs
  • #6,402
  • Mar 1, 2011 2:34am Mar 1, 2011 2:34am
Quoting Islander
So 6300 was the November high and IF it holds, the next target is the 2010 High set in January at 6450......

So far, all green 5 min candles since the equal low in FH, so part still open with a trail now at 6315
Nice Islander, I missed was attending to other rubbish. I also have 6370 as place to watch being the D candle bodies of the high you refer to as opposed to the wick.

We'll see I think I have missed big time here. Won't be the last time that happens.
  • #6,403
  • Edited 3:49am Mar 1, 2011 3:42am | Edited 3:49am
Quoting Vantage
Nice Islander, I missed was attending to other rubbish. I also have 6370 as place to watch being the D candle bodies of the high you refer to as opposed to the wick.

We'll see I think I have missed big time here. Won't be the last time that happens.
Hi V - pity, they were easy pips http://www.forexfactory.com/images/icons/icon9.gif as were the earlier ones.....

I was late up - we've now dropped 15º since the weekend and its a Fiesta too, so leaving a warm bed took some doing http://www.forexfactory.com/images/icons/icon11.gif However, I did my homework and updated S&R levels and was ready for the retest of the Days Open area.

After the ~70 pip rally, the retest of the 6325 high gave a few short pips before the snap back bounce off the 85 level now as support. The UK Mfg PMI was spot on with estimates and Net Lending was up, so good news....TWT
Attached Image (click to enlarge)
Click to Enlarge Name: mar 1 gu 5m 1031 cet.gif Size: 22 KB
Trading Levels with WRBs
  • #6,404
  • Mar 1, 2011 4:56am Mar 1, 2011 4:56am
entered long after EU hit daily PP and got confirmation on 5 min.

Thought also that momentum will carry EJ to 114.00 surrounding after breaking trend line but it did not. closed for -5 pips before news than reentered again thinking of momentum, but it looks like there is no one, so, closed trade at BE after more than 30 min just before I am leaving.
EJ hard;ly resembl;es itslef 6 months ago as I remember it. It has become very slow getting stuck in all these weekly daily trend lines and s/r areas. GU seems heading to open price level. But I have to go.

today's trades so far:

http://img576.imageshack.us/img576/137/eu15min.png

Uploaded with ImageShack.us

http://img59.imageshack.us/img59/6755/ej15min.png

Uploaded with ImageShack.us
  • #6,405
  • Mar 1, 2011 6:40am Mar 1, 2011 6:40am
Psych-line trade. A breach of xx50, then a retrace to the MA zone and finally a shooting star indicating a high-probability drop. An additional filter was the TL which suited the situation admirably.
Attached Image
  • #6,406
  • Mar 1, 2011 8:31am Mar 1, 2011 8:31am
Early in the US session we've had 2 more tests of the 6253 level - I bought the last one and later I'll post an interesting volume chart which highlights this level....

I'm waiting to see how far this swing goes before the US data in half an hour
Trading Levels with WRBs
  • #6,407
  • Mar 1, 2011 8:50am Mar 1, 2011 8:50am
Price stalled in the resistance area of the Asian Highs, just below 6300 and I banked.

Here's a 15m chart with both normal volume and a Market Profile volume indy. As we can see, this gave 6253 as yesterdays PointOfControl - the highest cumulative volume level.

The grey shaded box is the area in which 70% of each days trades have taken place by volume......
Attached Image (click to enlarge)
Click to Enlarge Name: mar 1 gu 15m 1440 gmt.gif Size: 40 KB
Trading Levels with WRBs
  • #6,408
  • Mar 2, 2011 4:41am Mar 2, 2011 4:41am
Morning, folks.....

Psych-line trade. Small TL which forms a confluence with xx00. Price breaks through almost precisely at this point. Entry and exit as shown.
Attached Image
  • #6,409
  • Mar 2, 2011 4:50am Mar 2, 2011 4:50am
EV, I was watching it too, but time limit . I do not enter trades this time as I am leaving
Picked few pips earlier on E/J when it broke above open price. target was pivot point but after it bounced down from 113.00 i quickly closed the trade for 15 pips. it still hit my target.

http://img268.imageshack.us/img268/6755/ej15min.png

Uploaded with ImageShack.us
  • #6,410
  • Mar 2, 2011 4:58am Mar 2, 2011 4:58am
Shiko wrote:
EV, I was watching it too, but time limit . I do not enter trades this time as I am leaving
Picked few pips earlier on E/J when it broke above open price. target was pivot point but after it bounced down from 113.00 i quickly closed the trade for 15 pips. it still hit my target.

Nice grab, mate. You must leave very early for work?
  • #6,411
  • Mar 2, 2011 7:32am Mar 2, 2011 7:32am
Another psych-line trade, aided by a rising wedge pattern. The pattern formed right across xx00 and the MA zone. Entry below the low of the break-out candle and a quick exit at around the xx75.
Attached Image
  • #6,412
  • Mar 2, 2011 9:23am Mar 2, 2011 9:23am
This trade (my last of the day, probably) was initiated by a symmetrical triangle, and the spinning-top (blue square) right on xx00. Entry slightly above the high of the break-out candle and exit as price started retreating from its high.
Attached Image
  • #6,413
  • Mar 2, 2011 4:50pm Mar 2, 2011 4:50pm
Quoting eyevoltage
Shiko wrote:
EV, I was watching it too, but time limit . I do not enter trades this time as I am leaving
Picked few pips earlier on E/J when it broke above open price. target was pivot point but after it bounced down from 113.00 i quickly closed the trade for 15 pips. it still hit my target.

Nice grab, mate. You must leave very early for work?




Yeah, unfortunately, start getting ready at 5:30 a.m. EST and leave at 6:00.
Market seems to be very timid during London open not like before. It looks like warming up just by the time I am leaving.
  • #6,414
  • Mar 2, 2011 4:52pm Mar 2, 2011 4:52pm
Quoting eyevoltage
This trade (my last of the day, probably) was initiated by a symmetrical triangle, and the spinning-top (blue square) right on xx00. Entry slightly above the high of the break-out candle and exit as price started retreating from its high.

I was watching this set up too during break, but thought that ATR is not enough and did not pull the trigger. well done!
I actually do not like to trade New York especially after London closes.
Always timid at this time.
  • #6,415
  • Mar 2, 2011 4:54pm Mar 2, 2011 4:54pm
Quoting eyevoltage
Another psych-line trade, aided by a rising wedge pattern. The pattern formed right across xx00 and the MA zone. Entry below the low of the break-out candle and a quick exit at around the xx75.

This one is excellent looking set up. I did not notice it.
You went against the trend but I see it really was a bearish flag after failure to break round number. You are a pip machine man
  • #6,416
  • Mar 3, 2011 1:09am Mar 3, 2011 1:09am
Islander,

gm.
anything setting up?

cheers.
  • #6,417
  • Mar 3, 2011 1:18am Mar 3, 2011 1:18am
Quoting pgd
Islander,

gm.
anything setting up?

cheers.
Nothing for me yet, gu broke 6270 highs and Asian session lows 6310 holding. So unless theres big changes coming I'm looking to buy.

Eur uptrend, just buys for me, waiting for nice candles.
  • #6,418
  • Mar 3, 2011 1:31am Mar 3, 2011 1:31am
vantage,
thanks.

incidentally. GU asian lows broken now.
m30, closed below.
  • #6,419
  • Mar 3, 2011 1:31am Mar 3, 2011 1:31am
Quoting Vantage
Nothing for me yet, gu broke 6270 highs and Asian session lows 6310 holding. So unless theres big changes coming I'm looking to buy.

Eur uptrend, just buys for me, waiting for nice candles.
Poss gu 2b buy coming off RN twt.
  • #6,420
  • Mar 3, 2011 1:48am Mar 3, 2011 1:48am
Quoting Vantage
Poss gu 2b buy coming off RN twt.
Great gu 2b set up but trading off closed candles I couldn't get an entry. No worries more chances coming soon.
11 traders viewing now