Psych Levels, Pivots, and Trendlines - Resurrected | Page 356 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #7,101
  • May 18, 2011 9:31am May 18, 2011 9:31am
The MA you see on my charts is also a 20. Only difference is that it's a T3MA, though it doesn't change things too much. The slower MA is a 60, which corresponds to the 20MA on my M15 chart. I always want to be aware of where I am on the M15 at a glance so I can catch larger swings, and the dual MA system helps for that I think.

As for the psych lines, I've found 00 and 50 a good compromise while taking 25 and 75 out. Not too busy on the chart and quite handy when determining exits, particularly for my style. I'm just glad you didn't point out the new lines (testing some old BBs) on my chart! Would have been embarrassing coming from you and your pristine charts.

Quoting eyevoltage
It was you using the 20ema that got me to try the 21ema on its own, and I have to say that, initially, I'm impressed....
  • #7,102
  • May 18, 2011 9:41am May 18, 2011 9:41am
Quoting Auron112
The MA you see on my charts is also a 20....

One of the fascinating things about trading is weighing up all the different styles of charting that one sees on FF. Some of them, I'm tempted to print out, frame them and hang them on my wall as the latest abstracts!! Happily, this doesn't apply to most who come on this thread, and I include you amongst them. Each to his own, mate.
Thanks for your post and the info therein.
  • #7,103
  • May 18, 2011 12:00pm May 18, 2011 12:00pm
Quoting Islander
I was within a pip of you.....

Whilst the 1m 20 remains sloping down - i.e. magenta, stay short. If price moves >15 pips from it - the dashed grey line - consider exiting OR tighten your stop........
What indicator are you using to provide that dashed grey line?
  • #7,104
  • Edited 12:20pm May 18, 2011 12:04pm | Edited 12:20pm
stop moved to 1.6149 just below the bullish trendline.

as i type this, price has just closed above yest's low and 38% retrace on M5.

edit:

stop updated to 1.6153 still keeping it below the TL.
Attached Image (click to enlarge)
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  • #7,105
  • May 18, 2011 12:38pm May 18, 2011 12:38pm
Quoting Islander

The 5m 20 seems to frequently "hold" smaller pull backs and the 15m the larger ones.
Interestingly (though unsurprisingly I suppose), I'm doing much the same thing. My 20 T3MA gives me a sense of things from a M5 perspective, and the 60 T3MA gives the 20 MA on the M5 chart as well.

So once a trend looks to be underway, I start by gauging the separation of the MAs. If it's increasing/wide then I'm generally considering it a strong short-term trend and looking for the smaller pullbacks to the 20MA. If things have been trending for a while longer in a smoother way without rapid changes in separation, then I'm generally looking for the pullbacks to be a bit deeper to the 60MA and then adjusting targets accordingly for a longer M15 move. Seems to work very well indeed.
  • #7,106
  • May 18, 2011 12:39pm May 18, 2011 12:39pm
Quoting pgd
stop moved to 1.6149 just below the bullish trendline.

as i type this, price has just closed above yest's low and 38% retrace on M5.

edit:

stop updated to 1.6153 still keeping it below the TL.
Excellent stuff, pgd!
  • #7,107
  • May 18, 2011 12:47pm May 18, 2011 12:47pm
Quoting Auron112
Excellent stuff, pgd!
Thanks, Auron.
stopped out at 1.6155 now.
  • #7,108
  • May 18, 2011 1:00pm May 18, 2011 1:00pm
Quoting Auron112
What indicator are you using to provide that dashed grey line?
The standard MA with colour set to none and band +/- 15 pips - or these days usually 150
Trading Levels with WRBs
  • #7,109
  • May 18, 2011 1:04pm May 18, 2011 1:04pm
Quoting Islander
The standard MA with colour set to none and band +/- 15 pips - or these days usually 150
Ok, thanks. When I saw it on only one side of the MA I thought it was something different, but I get what you're doing now. Obviously I've used the Bollinger Bands extensively in the past and occasionally used them for exit prior to pullback, but for whatever reason I've never even tested +/- bands on a basic EMA. Guess I should get to researching, huh?
  • #7,110
  • May 18, 2011 1:19pm May 18, 2011 1:19pm
Hi guys,

this was my trade today on UJ...was pretty lucky,didn't have much time looking charts but was at comp. at the time UJ came down to psych 00 and S1. Entry was a bit premature, emas were still flat, but it worked out OK. I am still in this trade for 1/2 original position, hopefuly asia doesn't push it back down, then I'lll be looking for upside again tomorrow.
Attached Image (click to enlarge)
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  • #7,111
  • May 18, 2011 11:30pm May 18, 2011 11:30pm
good morning, all !

Vantage,
Islander,

that area's still holding.
yest it was S1, today the main pivot's about there.

thanks to you, I got 2nd TP at 6180 (S1 was 6182) before the 3rd got stopped out at 6155 below the TL.

thanks again.
  • #7,112
  • May 19, 2011 12:50am May 19, 2011 12:50am
Pivot holds.
TL break.
LH.
Retrace to TL.

Entry: 16180
Exit : 16156 (near asian low)
Attached Image (click to enlarge)
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  • #7,113
  • May 19, 2011 1:19am May 19, 2011 1:19am
Hi pgd
You have been posting some great trades lately, very impressive.
  • #7,114
  • May 19, 2011 1:20am May 19, 2011 1:20am
Quoting pgd
Pivot holds.
TL break.
LH.
Retrace to TL.

Entry: 16180
Exit : 16156 (near asian low)

Well done

Hourly chart for reference
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #7,115
  • May 19, 2011 1:31am May 19, 2011 1:31am
Will the exact 50% retrace do the trick?.......TWT
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #7,116
  • May 19, 2011 1:46am May 19, 2011 1:46am
A harami just after FO, into the 50% / xx50 level etc, with CII divergance, safer to buy the HL after the faster MA has turned.....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #7,117
  • May 19, 2011 2:21am May 19, 2011 2:21am
My trades this morning, psych+ pivot bounce,second one was pinbar getting violated on the bottom, then broke the top, I just went in there.
+ I have exited at the same time the position from yesterday, because we are getting near the chanel top, and from this point the risk is greater than possible reward, which I have marked on H1 chart. I think there is more upside possibility on UJ today, but I don't want to risk it getting choopy near the chanel top.
Attached Image(s) (click to enlarge)
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  • #7,118
  • May 19, 2011 3:06am May 19, 2011 3:06am
Now who likes Signore Leonardo Pisano Bigollo http://www.forexfactory.com/images/icons/icon12.gif

The FH move was a fakeout and the LH at LO was a sell for a ~50 pip drop to the 61.8% expansion / MS 1 level. With the increasing volume a good area to book some profits and await the next signal.....
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #7,119
  • May 19, 2011 3:29am May 19, 2011 3:29am
Quoting Vantage
Hi pgd
You have been posting some great trades lately, very impressive.
Thanks, Vantage...
or was the for sarcasm?

Something you said a few days ago has stayed with me and i owe the "great trades" partly to that.
You'd said, "look for the level first, then the trade".

Thanks again.
  • #7,120
  • May 19, 2011 3:36am May 19, 2011 3:36am
Quoting pgd
Thanks, Vantage...
or was the for sarcasm?
No, he was being sincere, pg......

You've certainly got your eye in for a good opportunity just lately
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