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Psych Levels, Pivots, and Trendlines - Resurrected

  • #6,821
  • Apr 13, 2011 1:39am Apr 13, 2011 1:39am
Quoting Vantage
Nice one, I just posted on hl/lh thread what nice hl/lh trades often follow divergence.
thanks, vantage.
  • #6,822
  • Apr 13, 2011 2:18am Apr 13, 2011 2:18am
Quoting medici
BE And on entry I would have exited if the POC was broken.
out on BE now?
  • #6,823
  • Apr 13, 2011 2:20am Apr 13, 2011 2:20am
Quoting pgd
out on BE now?
No, cut it for 20 when it reversed at 8am.

And now in again from 1.6080.
  • #6,824
  • Apr 13, 2011 2:28am Apr 13, 2011 2:28am
Quoting medici
No, cut it for 20 when it reversed at 8am.

And now in again from 1.6080.
ok.

does POC reistance outweigh the pivot (1.6270) which stood in the way of this trade?
  • #6,825
  • Apr 13, 2011 2:32am Apr 13, 2011 2:32am
Quoting pgd
ok.

does POC reistance outweigh the pivot (1.6270) which stood in the way of this trade?
Not sure what you mean. My pivot is at 1.6277, and I have been following the Euro closely as much of the 'noise' in cable is due to the correlation. And Euro just hit yesterday's high - thus the short.
  • #6,826
  • Apr 13, 2011 2:54am Apr 13, 2011 2:54am
Quoting medici
Not sure what you mean. My pivot is at 1.6277, and I have been following the Euro closely as much of the 'noise' in cable is due to the correlation. And Euro just hit yesterday's high - thus the short.
ok, so, there's some difference in our pivot levels.
I use 5 pm EST close.
  • #6,827
  • Apr 13, 2011 2:57am Apr 13, 2011 2:57am
Quoting pgd
ok, so, there's some difference in our pivot levels.
I use 5 pm EST close.
Me too...
  • #6,828
  • Apr 13, 2011 3:06am Apr 13, 2011 3:06am
Quoting pgd
ok, so, there's some difference in our pivot levels.
I use 5 pm EST close.
I've always found ActionForex to be a reliable way to check your levels if you're not sure.

http://www.actionforex.com/markets/p...2010040848154/

I make a habit of checking every Monday just in case something weird happened with my feed over the weekend.
  • #6,829
  • Edited 6:41am Apr 13, 2011 3:45am | Edited 6:41am
Quoting medici
Me too...
turns out it was a calculation issue in the pivot indy i was using.
have put on another pivot plotter. now it reads 6277.
  • #6,830
  • Apr 13, 2011 6:33am Apr 13, 2011 6:33am
Hello EV

Not sure if you are around today..

I have been looking through a number of your charts and notice on flags/pullbacks, you vary your entry to either the break of the the most recent swing high or the break of a smaller high/low contained within the retrace. Is there any particular rule of thumb with this, or is it more of a gut instinct?

Sorry to sound as if I am looking for perfection, just trying to eliminate the errors!
  • #6,831
  • Apr 13, 2011 7:02am Apr 13, 2011 7:02am
Quoting Delite
Hello EV

Not sure if you are around today..

I have been looking through a number of your charts and notice on flags/pullbacks, you vary your entry to either the break of the the most recent swing high or the break of a smaller high/low contained within the retrace. Is there any particular rule of thumb with this, or is it more of a gut instinct?

Sorry to sound as if I am looking for perfection, just trying to eliminate the errors!
Sometimes, I'm prone to a bit of impatience, Delite. Hence an entry after the break of the smaller high/low. However, there are various methods of entry when patterns break. You can enter with the break, after a pull-back, or, as you mentioned, after the most recent swing high/low. With the break is fairly aggressive, but the others I'd class as conservative entries.
These three examples could be described as "rules of thumb", if you like, but gut instinct is something that I've never managed to develop, to be honest. I prefer to go by what I see rather than what I feel.
Hope this helps.
  • #6,832
  • Apr 13, 2011 7:04am Apr 13, 2011 7:04am
Quoting eyevoltage
Sometimes, I'm prone to a bit of impatience, Delite....

Thank you, as ever, from a very damp North Yorkshire!
  • #6,833
  • Apr 13, 2011 7:24am Apr 13, 2011 7:24am
Quoting Delite
Thank you, as ever, from a very damp North Yorkshire!
No damper than here in West Cumbria.
  • #6,834
  • Apr 13, 2011 7:39am Apr 13, 2011 7:39am
Quoting pgd
ok, so, there's some difference in our pivot levels.
I use 5 pm EST close.
Unless the pa is particularly wild (which it usually isn't) an hour or so either way at 5pm est close wouldn't make much difference, a few pips here and there. So look at pivots not as an exact area but a band. Same with POC.
  • #6,835
  • Apr 13, 2011 10:24am Apr 13, 2011 10:24am
Bullish divergence.
Buillish engulfing pattern on 1.6250.

entries as shown.
exit 1.6300.
Attached Image (click to enlarge)
Click to Enlarge Name: 20110413-gu-01.gif Size: 22 KB
  • #6,836
  • Apr 13, 2011 1:32pm Apr 13, 2011 1:32pm
Quoting pgd
Bullish divergence.
Buillish engulfing pattern on 1.6250.

entries as shown.
exit 1.6300.
2 great trades there from this support area, very nice!
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 20 KB
  • #6,837
  • Apr 14, 2011 1:02am Apr 14, 2011 1:02am
Quoting Vantage
2 great trades there from this support area, very nice!
thank you, vantage.

I've noticed, that if one sees noise in ones preferred TF, a lower or higher TF may be surprisingly well organised and a shift may be well worth it. In this case, my preferred TF was doing fine. noise on the H1 only meant shorter trends on M5 and reversal entries rather than continuations.

cheers.
  • #6,838
  • Apr 14, 2011 2:17am Apr 14, 2011 2:17am
GM all - todays pivots + S&R areas nicely in play this morning......
Attached Image (click to enlarge)
Click to Enlarge Name: apr 14 gu 5m lo.gif Size: 15 KB
Trading Levels with WRBs
  • #6,839
  • Apr 14, 2011 3:28am Apr 14, 2011 3:28am
took this bearflag.
now at b/e.
hoping to ride it to the pivot.

edit:
s/l moved to just above mR1

edit2:
s/l hit 1.4484.
Attached Image (click to enlarge)
Click to Enlarge Name: 20110414-eu-01.gif Size: 27 KB
  • #6,840
  • Apr 14, 2011 4:56am Apr 14, 2011 4:56am
GU seems to have broken UPwards from its indecision area.
a retrace to 6310/6300 (where it is right now) should give good long opportunities.

pl confirm if you agree with this reading.
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