Psych Levels, Pivots, and Trendlines - Resurrected | Page 385 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #7,681
  • Aug 16, 2011 8:45am Aug 16, 2011 8:45am
Waited more than 5 hours for this one. Prior price action was very slow and extremely choppy. Entry was above mid point between PP and S1 and failure to break previous support area.

should have picked more pips however 86.54 was very tough nut to crack at night so decided to take profit at 86.50

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line at the bottom is stop. entry 86.08
  • #7,682
  • Aug 16, 2011 8:48am Aug 16, 2011 8:48am
I love this kind of trades when price action creates this trend lines.
Especially when price really moves with bad intentions.

Quoting mysterio
Couple of easy trades on the Aussie replete with EV style price tags (I had no idea how to do that until a couple of pages back).

http://i288.photobucket.com/albums/l...example-96.gif
  • #7,683
  • Aug 16, 2011 9:26am Aug 16, 2011 9:26am
I suspect my last trade of day. I missed the big push up, we had a close to 50 pip pull back and settled above the D pivot at 1310. 2 doji's price pushed up exit at 75 stall, +40.
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  • #7,684
  • Aug 16, 2011 9:28am Aug 16, 2011 9:28am
Quoting Vantage
I suspect my last trade of day. I missed the big push up, we had a close to 50 pip pull back and settled above the D pivot at 1310. 2 doji's price pushed up exit at 75 stall, +40.
A touch early it seems to have exited but I will have to make dinner for Mrs V etc and pips are in the bank, no worries.
  • #7,685
  • Aug 16, 2011 9:34am Aug 16, 2011 9:34am
Quoting Vantage
I suspect my last trade of day. I missed the big push up, we had a close to 50 pip pull back and settled above the D pivot at 1310. 2 doji's price pushed up exit at 75 stall, +40.
nice!
you didn't worry about the wicks here, though
  • #7,686
  • Aug 16, 2011 9:37am Aug 16, 2011 9:37am
Quoting pgd
nice!
you didn't worry about the wicks here, though
If you mean the 1hr upper wick, it was not much in relation to size of candle. If you mean the 5 min, its doji's the 1 exception I allow to wicks rule.
  • #7,687
  • Aug 16, 2011 9:43am Aug 16, 2011 9:43am
Forgot to mention it seems in these big swings on eurchf it does like the W pivots. W R1 1426, if I had noticed that earlier I might have been tempted to let it go. My own fault.
  • #7,688
  • Aug 16, 2011 9:49am Aug 16, 2011 9:49am
Quoting Vantage
If you mean the 1hr upper wick, it was not much in relation to size of candle. If you mean the 5 min, its doji's the 1 exception I allow to wicks rule.
yes, i'd meant the m5 wicks.
got it about dojis.
  • #7,689
  • Aug 16, 2011 11:55am Aug 16, 2011 11:55am
Nice retrace right down to the mid-point level. After such a large candle down and a little doji appearing right on the mid-point level, I was confident of a reversal. I waited for the next candle to close and the next to open before entering due to the confluence of yesterday's high and the MA. Entry and exit as shown.
Attached Image
  • #7,690
  • Aug 16, 2011 12:13pm Aug 16, 2011 12:13pm
Quoting eyevoltage
Nice retrace right down to the mid-point level. After such a large candle down and a little doji appearing right on the mid-point level, I was confident of a reversal. I waited for the next candle to close and the next to open before entering due to the confluence of yesterday's high and the MA. Entry and exit as shown.
nice trade
This style is good for all market conditions. Just some patience
  • #7,691
  • Aug 16, 2011 1:44pm Aug 16, 2011 1:44pm
Quoting eyevoltage
Nice retrace right down to the mid-point level. After such a large candle down and a little doji appearing right on the mid-point level, I was confident of a reversal. I waited for the next candle to close and the next to open before entering due to the confluence of yesterday's high and the MA. Entry and exit as shown.
lovely!
  • #7,692
  • Aug 16, 2011 4:30pm Aug 16, 2011 4:30pm
Quoting eyevoltage
Nice retrace right down to the mid-point level. After such a large candle down and a little doji appearing right on the mid-point level, I was confident of a reversal. I waited for the next candle to close and the next to open before entering due to the confluence of yesterday's high and the MA. Entry and exit as shown.
Very nice EV, just noticed this extra confluence. TL from Asian session and 96 lwma (as used by V)

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Follow, don't anticipate.
  • #7,693
  • Aug 17, 2011 1:57am Aug 17, 2011 1:57am
Quick pips on E/U, I usually close just before a pivot and in this case I called it correctly, with G/U shooting up I didnt have high confidence that this was going to drop much further.

http://i288.photobucket.com/albums/l...example-97.gif

Edit: As I posted, it just dropped like a stone ...
  • #7,694
  • Aug 17, 2011 2:59am Aug 17, 2011 2:59am
Quoting mysterio
Quick pips on E/U, I usually close just before a pivot and in this case I called it correctly, with G/U shooting up I didnt have high confidence that this was going to drop much further.

http://i288.photobucket.com/albums/l...example-97.gif

Edit: As I posted, it just dropped like a stone ...
Nice trade from that pin bar. I noticed that in most cases when trend line is too steep it gets broken but then price reestablish itself on less steep trend line. Usually not much pips to be had on such steep trend lines. at least it is what I see.
  • #7,695
  • Aug 17, 2011 7:43am Aug 17, 2011 7:43am
friends!

watching this TL for break.
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  • #7,696
  • Aug 17, 2011 1:27pm Aug 17, 2011 1:27pm
Still stubbornly sitting on that TL on Eur/Chf, PGD!

Quote
Nice trade from that pin bar. I noticed that in most cases when trend line is too steep it gets broken but then price reestablish itself on less steep trend line. Usually not much pips to be had on such steep trend lines. at least it is what I see.

Yes I tend to agree. Usually there's enough action around Frankfurt/London to get your stop in at breakeven after a move and hope for the best. On that trade I got stopped out breakeven after the first jerk down to 200 EMA, then re-entered when I saw, as you said, the pin bar on the TL.
  • #7,697
  • Aug 18, 2011 3:39am Aug 18, 2011 3:39am
Quoting mysterio
Still stubbornly sitting on that TL on Eur/Chf, PGD!
yes! and another push up...
any clues where the up move might end?
  • #7,698
  • Aug 18, 2011 8:47am Aug 18, 2011 8:47am
A drop through xx80, a retrace and then a Dark Cloud Cover started this one off. Strong momentum took us right through xx50, whilst the next candle blew through xx20 and I bailed at the mid-point level. An incredible trade!
Attached Image
  • #7,699
  • Aug 18, 2011 8:49am Aug 18, 2011 8:49am
Nice one as usual EV!
  • #7,700
  • Aug 18, 2011 8:56am Aug 18, 2011 8:56am
Quoting Vantage
Nice one as usual EV!
Thanks, mate. Wish there was one of these EVERY day!!
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