Attachments: Psych Levels, Pivots, and Trendlines - Resurrected

Psych Levels, Pivots, and Trendlines - Resurrected

#7,601
Aug 7, 2011 2:59pm Aug 7, 2011 2:59pm

Prodi
| Joined Jul 2011 | Status: Trader | 3 Posts

Quoting pgd

Disliked

missed this easy to pick short below 11100.
moved a quick 50+ pips.
same with gbpchf.

hope someone else here got it.

Ignored

What indicator is that, which displays two timeframes on one chart?

#7,602
Aug 7, 2011 8:03pm Aug 7, 2011 8:03pm

pgd
| Joined May 2008 | Status: Trader | 909 Posts

Quoting Prodi

Disliked

What indicator is that, which displays two timeframes on one chart?

Ignored

Prodi,

if you're referring to the bigger candles you see in the background, they are painted by 'CustomCandle' indicator.

#7,603
Aug 8, 2011 7:19am Aug 8, 2011 7:19am

mysterio
Joined Sep 2009 | Status: Trader | 6,009 Posts

Quoting shiko

Disliked

Have not posted here for a long time. However this is with No Brainers is the best thread there is and I owe a lot of thanks to Mysterio and Eyevoltage for trading ideas I use and build my trading upon.
Nothing however substitutes for long hours of watching the market.
I am too focused on my trading to post but always refer this thread to newbies

Ignored

You are very welcome.

This was this morning's trade ... It is a textbook trade in my system and I almost feel like I can see into the future when it happens. I did get stopped out when I first entered but after watching the price action on 5 min chart I was confident to re-enter. First exit was R1 + round number, second was the pivot. Why hold for so long? Gut feeling when the TL has been building for so long it tends to break harder. I'm sure someone cleverer than I could do something with Fib's but I have no idea.

http://i288.photobucket.com/albums/l...f?t=1312805725

#7,604
Aug 8, 2011 8:24am Aug 8, 2011 8:24am

eyevoltage
Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts

Quoting shiko

Disliked

Have not posted here for a long time. However this is with No Brainers is the best thread there is and I owe a lot of thanks to Mysterio and Eyevoltage for trading ideas I use and build my trading upon.
Nothing however substitutes for long hours of watching the market.
I am too focused on my trading to post but always refer this thread to newbies

Ignored

Very kind, shiko, and as mysterio says, you're very welcome.

I've been pretty busy today, one way or another, and another couple of good trades pass me by.
The first one is a symmetrical triangle. After the break-down, it would have yielded around 70 pips, had one stayed with it and not jumped out at the confluence of yesterday's high/mid-point level. Still, bailing out there would have yielded around 25 pips.
The second opportunity is a bearish flag, pretty straightforward, forming just under said confluence, with a pull-back to xx75 (not shown). If exited at the Main Pivot level, it would have been worth around 40 pips, but if left to run down to the mid-point level, around 80 pips could have been grabbed. All very well in hindsight, but even so, these opportunities were clear-cut and could have been acted upon with a great degree of confidence.

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#7,605
Edited 9:04am Aug 8, 2011 8:44am | Edited 9:04am

pgd
| Joined May 2008 | Status: Trader | 909 Posts

hi all,

hope everyone had a good weekend.
my net connection went down early this morn. it's up and running only now. that turned out good!

before it went down, i'd entered short at 2483 below pivot, 2500 and day's open after that shooting star. first placed tp2 at 2400 and before i could place tp1 at 2450, i lost connection!

now connection's up, target achieved!
ain't that sweet!

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#7,606
Aug 8, 2011 9:30am Aug 8, 2011 9:30am

eyevoltage
Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts

Quoting pgd

Disliked

hi all,

hope everyone had a good weekend.
my net connection went down early this morn. it's up and running only now. that turned out good!

before it went down, i'd entered short at 2483 below pivot, 2500 and day's open after that shooting star. first placed tp2 at 2400 and before i could place tp1 at 2450, i lost connection!

now connection's up, target achieved!
ain't that sweet!

Ignored

Nice one, pg.....

Somebody up there is looking after you!!

#7,607
Aug 8, 2011 10:00am Aug 8, 2011 10:00am

pgd
| Joined May 2008 | Status: Trader | 909 Posts

Quoting eyevoltage

Disliked

Nice one, pg.....

Somebody up there is looking after you!!

Ignored

quite likely.

#7,608
Aug 8, 2011 1:46pm Aug 8, 2011 1:46pm

mysterio
Joined Sep 2009 | Status: Trader | 6,009 Posts

Quoting eyevoltage

Disliked

Missed this one due to other duties.......

Damn near a carbon copy of the last one. Another one of those reversed "N" positions. Self-explanatory really.

Ignored

Interesting how two different people can see the same trade in two different ways - those patterns never occurred to me but seem pretty clear now I look at them.

#7,609
Aug 8, 2011 2:29pm Aug 8, 2011 2:29pm

eyevoltage
Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts

Quoting mysterio

Disliked

Interesting how two different people can see the same trade in two different ways - those patterns never occurred to me but seem pretty clear now I look at them.

Ignored

Gives you summat else to look for (if you can leave those beloved TL's of yours alone!!)

#7,610
Aug 8, 2011 2:32pm Aug 8, 2011 2:32pm

mysterio
Joined Sep 2009 | Status: Trader | 6,009 Posts

Hey EV, all those fancy flags and triangles are just different arrangements of trend lines... think about it...

#7,611
Aug 8, 2011 2:46pm Aug 8, 2011 2:46pm

eyevoltage
Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts

Quoting mysterio

Disliked

Hey EV, all those fancy flags and triangles are just different arrangements of trend lines... think about it...

Ignored

Yeah, mate, I know. I wasn't been disparaging about the TL's, honest!! All in all, what with our Pivots, psych-lines, patterns and the TL's, we've pretty much got all we need!!

#7,612
Aug 9, 2011 4:44am Aug 9, 2011 4:44am

pgd
| Joined May 2008 | Status: Trader | 909 Posts

hns seemed to be forming below yest's low (dashed magenta).
started looking for short entry near right shoulder.
the next candle made a dcc.
no break followed immd.
next few candles drift to develop into a sym. |>.
break out with a bearish 'hammer'.
entry at 7732 on break of that candle and S1.
exit1 at 7717 (near mS2).
exit2 at 7708 (near asian low).

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#7,613
Edited 5:21am Aug 9, 2011 4:47am | Edited 5:21am

Vantage
Joined Mar 2007 | Status: Trader | 7,195 Posts

I made the comment elsewhere, when the TL break is in itself a lh good time to take the trade. Nice one.

#7,614
Edited 5:14am Aug 9, 2011 5:00am | Edited 5:14am

pgd
| Joined May 2008 | Status: Trader | 909 Posts

Quoting Vantage

Disliked

I made the comment elsewhere, when the TL break is in itself a lh good time to take the trade. Nice one.

Ignored

thanks, vantage.

yes, i noticed. the m15 solid candle break comes a couple of bars later and a few pips lower.

i checked your thread. don't see reference to the UJ there.
where "elsewhere" have you made the comment you mentioned?

#7,615
Aug 9, 2011 5:24am Aug 9, 2011 5:24am

Vantage
Joined Mar 2007 | Status: Trader | 7,195 Posts

Quoting pgd

Disliked

thanks, vantage.

yes, i noticed. the m15 solid candle break comes a couple of bars later and a few pips lower.

i checked your thread. don't see reference to the UJ there.
where "elsewhere" have you made the comment you mentioned?

Ignored

Most recently it was in a pm to someone. In a lot of flags, triangles etc you might see a hl/lh right at the end. I made the point that for me that hl/lh signal makes entries a little easier.

the comment was more on flags as triangles by their definition should have a hl/lh in them.

#7,616
Aug 9, 2011 6:06am Aug 9, 2011 6:06am