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Psych Levels, Pivots, and Trendlines - Resurrected

  • #7,501
  • Aug 1, 2011 4:00am Aug 1, 2011 4:00am
Quoting pgd
ev,

look!
18 traders arrived!

edit:
now 20!
21 now!! There must be a sale on somewhere!!

Edit: Well, page 500 didn't last long!!
  • #7,502
  • Aug 1, 2011 4:07am Aug 1, 2011 4:07am
Quoting eyevoltage
More or less, pg. However, I'm slowing things down by using 15m charts, and I'm kicking the MA's into touch. Still concentrating on PA on the pivot lines, and watching out for any patterns that crop up. Not a lot different from the way I was trading before, but simplifying the charts a little.
K.I.S.S. rules!!
ok.
do post more trades as you take them in this manner.
  • #7,503
  • Aug 1, 2011 4:09am Aug 1, 2011 4:09am
Quoting eyevoltage
21 now!! There must be a sale on somewhere!!

Edit: Well, page 500 didn't last long!!
sale? no! you forget. there was a party.
  • #7,504
  • Aug 1, 2011 4:22am Aug 1, 2011 4:22am
Quoting eyevoltage
Some good trades this morning from pg and Ian. Well done!

This one is an example of the way I'm experimenting with right now. The small blue oval shows a hammer type candle, with the lower shadow stopping right to the pip on the mid-point level. A rather positive move followed, which prompted a long entry with the target being R1. There was a similar move a little earlier, prompted by a doji, four candles back, but I missed that one.
hmm .. seems as though my pivot levels are off .. anyone else got the same levels as me ?

Eur 15m
Attached Image (click to enlarge)
Click to Enlarge Name: pivots.jpg Size: 125 KB


Dan
  • #7,505
  • Aug 1, 2011 4:25am Aug 1, 2011 4:25am
Quoting dan89
hmm .. seems as though my pivot levels are off .. anyone else got the same levels as me ?

Eur 15m
Attachment

Dan

I do.
  • #7,506
  • Aug 1, 2011 4:38am Aug 1, 2011 4:38am
Quoting dan89
hmm .. seems as though my pivot levels are off .. anyone else got the same levels as me ?

Eur 15m
Attachment

Dan
Dan, seeing as your and Delite's charts are in accord, I've swapped over to co-ordinate.
  • #7,507
  • Aug 1, 2011 4:54am Aug 1, 2011 4:54am
This is another beauty, that I unfortunately missed. Price dropped through the Main Pivot line. There was a one candle retracement that didn't quite test for resistance, followed by a shooting-star/harami candle. Price then dropped like a stone down to, and through, the mid-point level.
Attached Image
  • #7,508
  • Aug 1, 2011 4:56am Aug 1, 2011 4:56am
Quoting dan89
hmm .. seems as though my pivot levels are off .. anyone else got the same levels as me ?

Eur 15m
Attachment

Dan
Dan,

i have the same daily levels.
what's the thick green one on your chart?
  • #7,509
  • Aug 1, 2011 4:59am Aug 1, 2011 4:59am
Delite, I go with the John J. Murphy rule of 3 touches. However that third touch may only cause a small reaction, like 10 pips up or down. If it occurs directly on the trend line then that's good enough for me. Also i'm talking about 3 touches on the 5 minute chart. That may be less on the 15 min chart.

I had a couple of stinkers this morning on E/U and G/U, the trend lines were perfectly valid but I got stopped out by a long way.

http://i288.photobucket.com/albums/l...f?t=1312199941
  • #7,510
  • Aug 1, 2011 5:07am Aug 1, 2011 5:07am
Quoting eyevoltage
This is another beauty, that I unfortunately missed. Price dropped through the Main Pivot line. There was a one candle retracement that didn't quite test for resistance, followed by a shooting-star/harami candle. Price then dropped like a stone down to, and through, the mid-point level.
sweet!
  • #7,511
  • Aug 1, 2011 5:14am Aug 1, 2011 5:14am
Yet another example (just coming to fruition) of a lovely potential reversal candlestick pattern (dark cloud cover), this one coming off a mid-point line.
Attached Image
  • #7,512
  • Aug 1, 2011 5:29am Aug 1, 2011 5:29am
Quoting eyevoltage
Yet another example (just coming to fruition) of a lovely potential reversal candlestick pattern (dark cloud cover), this one coming off a mid-point line.
fantastic!
ev's unstoppable today

where exactly is your entry on that one?
  • #7,513
  • Aug 1, 2011 5:36am Aug 1, 2011 5:36am
Quoting pgd
Dan,

i have the same daily levels.
what's the thick green one on your chart?
The thick green line is yesterdays high and the thick brown line is yesterdays low

Dan
  • #7,514
  • Aug 1, 2011 5:47am Aug 1, 2011 5:47am
Quoting pgd
fantastic!
ev's unstoppable today

where exactly is your entry on that one?
Had I traded it, entry would have been below the low of the dark cloud cover candle, pg.
No, I didn't trade it, mate. Just posted it as an example of how easy it can be to spot potential high-probability trades, whilst observing PA when combined with candle patterns and pivot lines.
  • #7,515
  • Aug 1, 2011 6:20am Aug 1, 2011 6:20am
Quoting eyevoltage
Yet another example (just coming to fruition) of a lovely potential reversal candlestick pattern (dark cloud cover), this one coming off a mid-point line.
Cool!

It was also a trendline break on the M5 chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GU1AUG.JPG Size: 103 KB
  • #7,516
  • Aug 1, 2011 6:22am Aug 1, 2011 6:22am
Oh, sorry about the ghostly snipping tool on that chart. Ooops!
  • #7,517
  • Edited 9:26am Aug 1, 2011 6:29am | Edited 9:26am
This one I DID get! I was watching for any signs of a positive move down after the slight retracement from the Main Pivot line (blue ellipse). A high-wave candle followed, then price dropped through the MPL.


Edit: It wasn't a "high-wave" candle. In fact, it was a "spinning-top". Sorry for the confusion.
Attached Image
  • #7,518
  • Aug 1, 2011 6:31am Aug 1, 2011 6:31am
Quoting eyevoltage
This one I DID get! I was watching for any signs of a positive move down after the slight retracement from the Main Pivot line (blue ellipse). A high-wave candle followed, then price dropped through the MPL.

High wave? Sorry to be dim, but could you explain what this is? Thanks!
  • #7,519
  • Aug 1, 2011 6:41am Aug 1, 2011 6:41am
Quoting Delite
High wave? Sorry to be dim, but could you explain what this is? Thanks!
I think its similar to a doji candle.

Better wait for EV to reply though

Dan
  • #7,520
  • Aug 1, 2011 6:45am Aug 1, 2011 6:45am
Quoting Delite
High wave? Sorry to be dim, but could you explain what this is? Thanks!
Sorry, Delite, my mistake. I should have described it as a "spinning-top" (a small candle with small upper and lower shadows), as opposed to a "high-wave" (a small candle with a lot larger upper and lower shadows).
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