Psych Levels, Pivots, and Trendlines - Resurrected | Page 382 | Forex Factory

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Attachments: Psych Levels, Pivots, and Trendlines - Resurrected
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Psych Levels, Pivots, and Trendlines - Resurrected

  • #7,621
  • Aug 9, 2011 7:06am Aug 9, 2011 7:06am
I project potentially 111.00 for this move.
  • #7,622
  • Aug 9, 2011 9:46am Aug 9, 2011 9:46am
price rises almost to yest's low (dashed magenta).
forms a spinning top followed by hanging man.
together they form a bearish engulfing pattern starting the decline.
TL bpc.

entry: 78.48
exit : 78.20 (near S1)
Attached Image (click to enlarge)
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  • #7,623
  • Aug 10, 2011 2:41am Aug 10, 2011 2:41am
Morning, folks.
Two trades on EU this morning. I was up rather earlier than normal, and saw the first bullish engulfing pattern forming on xx20. The second trade was also after a bullish engulfing pattern, which formed on xx50. Entries and exits clearly marked.
I've put the psych-lines on this morning, due to the rather wide distances between the pivot lines.
Attached Image
  • #7,624
  • Aug 10, 2011 2:44am Aug 10, 2011 2:44am
Quoting eyevoltage
Morning, folks.
Two trades on EU this morning. I was up rather earlier than normal, and saw the first bullish engulfing pattern forming on xx20. The second trade was also after a bullish engulfing pattern, which formed on xx50. Entries and exits clearly marked.
I've put the psych-lines on this morning, due to the rather wide distances between the pivot lines.
Nice Ev,
I had seen your 2nd trade above 4350, gu was about the same set up. Got distracted thankfully as I was looking at gu which failed and would have been a losing trade.
  • #7,625
  • Aug 10, 2011 2:50am Aug 10, 2011 2:50am
Nice trades - I've been sitting here looking at the big gap on the pivots and never thought of putting on the psych lines. Duh.............
  • #7,626
  • Aug 10, 2011 3:01am Aug 10, 2011 3:01am
Quoting eyevoltage
Morning, folks.
Two trades on EU this morning. I was up rather earlier than normal, and saw the first bullish engulfing pattern forming on xx20. The second trade was also after a bullish engulfing pattern, which formed on xx50. Entries and exits clearly marked.
I've put the psych-lines on this morning, due to the rather wide distances between the pivot lines.

It fascinates me that despite using many different methods of entry - engulfing patterns at a level, lower highs/higher lows, trendline breaks etc, how entries tend to be made at exactly the same points!

Vantage - can't see how your GU trade would have failed. Were you looking a system trade?
  • #7,627
  • Aug 10, 2011 3:02am Aug 10, 2011 3:02am
Quoting Vantage
Nice Ev,
I had seen your 2nd trade above 4350, gu was about the same set up. Got distracted thankfully as I was looking at gu which failed and would have been a losing trade.
Thanks, V. Looking at GU, price never got above the xx80, so for me, there wouldn't have been an entry point anyway.
Hope all is well with you and Mrs.V.
  • #7,628
  • Aug 10, 2011 3:03am Aug 10, 2011 3:03am
Quoting orientos
Nice trades - I've been sitting here looking at the big gap on the pivots and never thought of putting on the psych lines. Duh.............
Easily done, mate. Sometimes one can't see the wood for the trees!!
  • #7,629
  • Aug 10, 2011 3:05am Aug 10, 2011 3:05am
V - sorry - realise you were looking at a long, not a short.
  • #7,630
  • Aug 10, 2011 3:12am Aug 10, 2011 3:12am
Quoting eyevoltage
Morning, folks.
Two trades on EU this morning. I was up rather earlier than normal, and saw the first bullish engulfing pattern forming on xx20. The second trade was also after a bullish engulfing pattern, which formed on xx50. Entries and exits clearly marked.
I've put the psych-lines on this morning, due to the rather wide distances between the pivot lines.
as neat as neat can be
and i see you have the classic EU psyche lines: 00, 20, 50, 80. not the ones that most use 00, 25, 50, 75.

however, one question, ev:

why not the encircled bearish engulfing that occurred one candle earlier and also got triggered?
Attached Image
  • #7,631
  • Aug 10, 2011 3:19am Aug 10, 2011 3:19am
Quoting Delite
It fascinates me that despite using many different methods of entry - engulfing patterns at a level, lower highs/higher lows, trendline breaks etc, how entries tend to be made at exactly the same points!

Vantage - can't see how your GU trade would have failed. Were you looking a system trade?
This was the gu trade. Perfect hl, 1hr was a hammer but we couldn't break the range, ema's nicely angled down, 4hr headed down. Cannot recall if I was distracted or chose to be. Entry 6277 would have been stopped out.

I also didn't take the eur 2b sell from M3, days open, 75 combo entry 4366 ish as the set up candle was close to 20 pips.
Attached Image (click to enlarge)
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  • #7,632
  • Aug 10, 2011 3:21am Aug 10, 2011 3:21am
Quoting pgd
as neat as neat can be
and i see you have the classic EU psyche lines: 00, 20, 50, 80. not the ones that most use 00, 25, 50, 75.

however, one question, ev:

why not the encircled bearish engulfing that occurred one candle earlier and also got triggered?
See my earlier comment regarding "wood" and "trees"!! To be honest, all I could think of was the possibility of another long trade. I never thought of the reversal! As orientos said earlier............duh!!!
  • #7,633
  • Aug 10, 2011 3:29am Aug 10, 2011 3:29am
Mrs V has sniffles again, every few weeks the thing comes back. Gov King speaks in an hour, time for some tea. Looks like best trades going to happen in US session???
  • #7,634
  • Aug 10, 2011 4:02am Aug 10, 2011 4:02am
Quoting eyevoltage
See my earlier comment regarding "wood" and "trees"!! To be honest, all I could think of was the possibility of another long trade. I never thought of the reversal! As orientos said earlier............duh!!!
  • #7,635
  • Aug 10, 2011 4:06am Aug 10, 2011 4:06am
ev,

missed this one.
reversal with divergence at confluence of:
day's open
yest's high
mR1
14375

did someone take it?
Attached Image (click to enlarge)
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  • #7,636
  • Aug 10, 2011 4:24am Aug 10, 2011 4:24am
Quoting pgd
ev,

missed this one.
reversal with divergence at confluence of:
day's open
yest's high
mR1
14375

did someone take it?
Didn't take it because entry candle was too big - about 20 pips.
  • #7,637
  • Aug 10, 2011 4:32am Aug 10, 2011 4:32am
Quoting Delite
Didn't take it because entry candle was too big - about 20 pips.
yes, that would have been a deterrent.
and, it really was a CT scalp.
  • #7,638
  • Edited 5:34am Aug 10, 2011 4:49am | Edited 5:34am
EU is really bouncing off those psych-lines this morning!! I've been busy with other things for a while, and it looks like I've missed one or two possibles.
C'est la vie.
  • #7,639
  • Aug 10, 2011 5:12am Aug 10, 2011 5:12am
Quoting eyevoltage
EU is really bouncing of those psych-lines this morning!! I've been busy with other things for a while, and it looks like I've missed one or two possibles.
C'est la vie.
Oui!
  • #7,640
  • Aug 10, 2011 8:16am Aug 10, 2011 8:16am
price falls from 50 thru pivot and retraces back to pivot forming a shooting star. the shooting star also engulfs the previous candle.
entry: 0408
exit : 0352
quick one. happened within just 1 m5 candle.
Attached Image
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