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Psych Levels, Pivots, and Trendlines - Resurrected

  • #6,761
  • Apr 9, 2011 4:51am Apr 9, 2011 4:51am
Quoting medici
I'd like to express a different point of view. The reason for the hour long fretting was that the trade was entered too early. My own criterion for that is to not trade against the slope of the attached MA unless price is far away from it. In your chart, the entry is also against the slope of your MAs.

And while Friday afternoon is usually not the best time to trade, there may still be opportunities around the 4pm London fix, when price often changes direction. So also yesterday, and a good entry would have been at the close of the shooting star,...
Thanks, medici.
  • #6,762
  • Apr 10, 2011 7:11pm Apr 10, 2011 7:11pm
Quoting medici
The old telepathy is unfailing...I took exactly the same trade at the very same minute, and closed at the same time too!

Today was a good session... And well done to you
I knew you wouldn't be able to stay away from GU.
  • #6,763
  • Apr 11, 2011 3:09am Apr 11, 2011 3:09am
GM all - just time for one post today and its showing the candle size alert indy that I use as it has a pop up and sound alert that I find helpful - I usually have the colour set to "none"

My point is how these wider candles frequently appear at start and end of moves.....and yes, I got short around FO and took some off at the first level and exited the remainder on a trailing stop after LO......BFN
Attached Image (click to enlarge)
Click to Enlarge Name: apr 11 gu 1m lo plus 15.gif Size: 14 KB
Trading Levels with WRBs
  • #6,764
  • Apr 11, 2011 5:02am Apr 11, 2011 5:02am
This may be a stupid question but am i correct in saying that FO is at 7am and London at 8am GMT
  • #6,765
  • Edited 5:29am Apr 11, 2011 5:07am | Edited 5:29am
Quoting Islander
GM all - just time for one post today and its showing the candle size alert indy that I use as it has a pop up and sound alert that I find helpful - I usually have the colour set to "none"

My point is how these wider candles frequently appear at start and end of moves.....and yes, I got short around FO and took some off at the first level and exited the remainder on a trailing stop after LO......BFN
Islander,

are those grey arrows generated by the candle size indy?
what ma period/type is that?

thanks.
  • #6,766
  • Apr 11, 2011 6:02am Apr 11, 2011 6:02am
Quoting dan89
This may be a stupid question but am i correct in saying that FO is at 7am and London at 8am GMT
Thats right.
  • #6,767
  • Apr 11, 2011 6:09am Apr 11, 2011 6:09am
Quoting Vantage
Thats right.
Thanks mate !
  • #6,768
  • Apr 11, 2011 6:11am Apr 11, 2011 6:11am
Quoting pgd
Islander,

are those grey arrows generated by the candle size indy?
what ma period/type is that?

thanks.
NP cheers.

GU presently struggling with 6350 a clear SR every day from 6 Apr, clearly seen on 1hr charts. We'll see what US wants to do shortly.
  • #6,769
  • Apr 11, 2011 6:21am Apr 11, 2011 6:21am
Islander ... Do you draw your horizontal sup/res on the 15 min charts ? Or do you go to higher timeframes like 1hr. Also, how far do you zoom out when you draw your sup/res ive noticed that if i draw the levels on the 5min chart when its fully zoomed out its basically the same as drawing them on the 1hr

Regards
Dan
  • #6,770
  • Apr 11, 2011 6:27am Apr 11, 2011 6:27am
Anybody watchin GU ?

MA's narrowing about to cross mabey
At the mid pivot level
1hr TF showing pinbars/shooting stars

Attached Image (click to enlarge)
Click to Enlarge Name: 2011-04-11_12-25_FxPro.jpg Size: 213 KB


What do you guys think ? im still learning so any help would be great

Dan
  • #6,771
  • Apr 11, 2011 6:33am Apr 11, 2011 6:33am
Quoting dan89
Anybody watchin GU ?

MA's narrowing about to cross mabey
At the mid pivot level
1hr TF showing pinbars/shooting stars

Attachment

What do you guys think ? im still learning so any help would be great

Dan
In addition to your post.

US session Fri initially took us up from there but after that 1hr on lh/ll. It certainly seems to suggest down to me but a session opening can go a different way.

The lack of a bounce from that key 6350 level also suggests down to me.
  • #6,772
  • Apr 11, 2011 6:39am Apr 11, 2011 6:39am
Quoting Vantage
In addition to your post.

US session Fri initially took us up from there but after that 1hr on lh/ll. It certainly seems to suggest down to me but a session opening can go a different way.

The lack of a bounce from that key 6350 level also suggests down to me.
Mrs V tore herself away from watching dancing with the stars (darn and I HAVE to watch charts) to remind me as I said earlier that a SR level like the one that we clearly have + a session open can jump either way + I should rather leave poss set up than get suckered in.
  • #6,773
  • Apr 11, 2011 6:43am Apr 11, 2011 6:43am
Quoting Vantage
Mrs V tore herself away from watching dancing with the stars (darn and I HAVE to watch charts) to remind me as I said earlier that a SR level like the one that we clearly have + a session open can jump either way + I should rather leave poss set up than get suckered in.
yea, price is reaching the previous highs on 5 min chart. See what happens. If price does drop and closes past the mid pivot support would you enter the breakout or wait for a pull back to the mid level then enter ?

What do you mean 'leave poss set up'

Regards
Dan
  • #6,774
  • Apr 11, 2011 6:49am Apr 11, 2011 6:49am
Quoting dan89
yea, price is reaching the previous highs on 5 min chart. See what happens. If price does drop and closes past the mid pivot support would you enter the breakout or wait for a pull back to the mid level then enter ?

What do you mean 'leave poss set up'

Regards
Dan
Personally I am waiting now for 1hr to close, doji on 1hr + 15 min is complete indecision.

Poss set up, we were on 5 min lh but a positive close inside bar on 15 min. A fall through M2 at 6347 MIGHT have been a trade. Never happened thank goodness.

Sometimes all thats needed is a little more patience for that final shake out to work its way through, TWT.
  • #6,775
  • Apr 11, 2011 6:50am Apr 11, 2011 6:50am
Quoting Vantage
Personally I am waiting now for 1hr to close, doji on 1hr + 15 min is complete indecision.

Poss set up, we were on 5 min lh but a positive close inside bar on 15 min. A fall through M2 at 6347 MIGHT have been a trade. Never happened thank goodness.

Sometimes all thats needed is a little more patience for that final shake out to work its way through, TWT.
After having had most of last week off and we went to see TOD (aka the old dear aka mom) this morning again I'm busting a gut to press that button.

Just a little patience (can't get that guns n roses song out of my head now!! )
  • #6,776
  • Apr 11, 2011 6:55am Apr 11, 2011 6:55am
Looking at a bullish flag right now......
  • #6,777
  • Apr 11, 2011 6:58am Apr 11, 2011 6:58am
Quoting eyevoltage
Looking at a bullish flag right now......
Interesting to see which way it goes I think lower still, wouldn't be fussed to be wrong at all. 6350 a toughie.
Attached Image (click to enlarge)
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  • #6,778
  • Apr 11, 2011 7:05am Apr 11, 2011 7:05am
Quoting eyevoltage
Looking at a bullish flag right now......
bullish flag ? could you show us a chart if possible ... ?
  • #6,779
  • Apr 11, 2011 7:08am Apr 11, 2011 7:08am
gu's pretty much trapped in a 15 pip range around the DP.
looks like it might break south?
let's see,
  • #6,780
  • Apr 11, 2011 7:11am Apr 11, 2011 7:11am
EV is this what your looking at ?

Attached Image (click to enlarge)
Click to Enlarge Name: flag2011-04-11_13-10_FxPro.jpg Size: 183 KB
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