Psych Levels, Pivots, and Trendlines - Resurrected | Page 389 | Forex Factory

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

  • #7,761
  • Sep 14, 2011 1:40am Sep 14, 2011 1:40am
Quoting eyevoltage
Two trades in relatively quick succession off the 15m EU.....

The first one was from a strong retrace to the Main Pivot line, followed by a dragonfly doji. Entry just under the low of the doji, and exit after price breached the mid-point line. The second one was after a large shooting star had formed by pushing above the Main Pivot level and then dropping back below. Entry just under the low of the SS, and exit as price reached the mid-point level.
Again, very simple and straightforward.
Nice trade
Trade with the momentum
  • #7,762
  • Sep 14, 2011 5:12am Sep 14, 2011 5:12am
These set-ups are always worth looking out for. When price pushes through a pivot line, retraces to touch the line, and then continues its way up north. What I call a classic "N" shape trade.
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  • #7,763
  • Edited 6:07am Sep 14, 2011 6:02am | Edited 6:07am
Another nice simple set-up involving the Main Pivot line and a piercing retrace before continuing up and piercing back through the MPL. Unfortunately, I missed this one due to other things, but worth showing as an example of what to look out for.

Edit: I drew a flag pattern on this one, but it's really too short to be considered as a proper flag.
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  • #7,764
  • Sep 14, 2011 6:30am Sep 14, 2011 6:30am
Hi EV, I hope you're well

Which pivot indicator are you using for your trades?

Thanks
Andy
  • #7,765
  • Sep 14, 2011 7:05am Sep 14, 2011 7:05am
Quoting Andy B
Hi EV, I hope you're well

Which pivot indicator are you using for your trades?

Thanks
Andy
I mainly use the FXI Pivot indicator. However, as I've mentioned before, when the pivots have large gaps between them, I'll use the TZ Pivot indicator, as that one includes the quarterly lines, which price seems to respect quite often at times like that.

I'm fine, thanks for asking, and I hope you and yours are the same.

Edit: Just to say that you'll find both indicators in the attachments list.

  • #7,766
  • Sep 14, 2011 7:27am Sep 14, 2011 7:27am
Quoting eyevoltage
I mainly use the FXI Pivot indicator. However, as I've mentioned before, when the pivots have large gaps between them, I'll use the TZ Pivot indicator, as that one includes the quarterly lines, which price seems to respect quite often at times like that.

I'm fine, thanks for asking, and I hope you and yours are the same.

Edit: Just to say that you'll find both indicators in the attachments list.

Thanks for the prompt reply, I'll take a look

Cheers
  • #7,767
  • Sep 15, 2011 5:24am Sep 15, 2011 5:24am
Retrace to the mid-point line and entry just above the high of the hammer-type candle.
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  • #7,768
  • Sep 15, 2011 9:54am Sep 15, 2011 9:54am
Nice trades EV.

Sorry not contributing much lately.

Mrs V took this trade (posted elsewhere also) but showing here due to the classic reject of days open/50 psych level.

Price moved up to RN where she exited.
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  • #7,769
  • Sep 15, 2011 9:59am Sep 15, 2011 9:59am
Quoting Vantage
Nice trades EV.

Sorry not contributing much lately.

Mrs V took this trade (posted elsewhere also) but showing here due to the classic reject of days open/50 psych level.

Price moved up to RN where she exited.
Hi V.
Don't worry about it, mate. Neither is anyone else.

Good trade from Mrs.V, and I can see why you'd post it here. A nice reversal off the confluence. She's sure got her eye in there!!

Hope all is well with your business enterprise, V.

Take care.
  • #7,770
  • Sep 15, 2011 10:04am Sep 15, 2011 10:04am
Quoting eyevoltage
Hi V.
Don't worry about it, mate. Neither is anyone else.

Good trade from Mrs.V, and I can see why you'd post it here. A nice reversal off the confluence. She's sure got her eye in there!!

Hope all is well with your business enterprise, V.

Take care.


Cheers mate, yes she has, only 1 losing trade for the week, but like usual not trading more than twice per day. mainly missing trades not in front of computer as opposed to any other reason.

And yes the construction industry went through big problems but we are truely, truely blessed. Apart from that 1st mega contract we have been told a 2nd smaller one is coming our way. If these go fine then what is big now will become truely staggering. As much as I miss trading this is too big to dismiss. No-one takes better care of the pennies than family!!
  • #7,771
  • Sep 16, 2011 7:25am Sep 16, 2011 7:25am
Rising wedge formed across the mid-point line, and price came to an abrupt stop at the MA, reversing down to breach the said mid-point line. I was hoping that price would make it down to R1, but it didn't and started reversing. Having other things to do this afternoon, I decided that 20 pips would do me.
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  • #7,772
  • Sep 16, 2011 7:59am Sep 16, 2011 7:59am
Quoting eyevoltage
Rising wedge formed across the mid-point line, and price came to an abrupt stop at the MA, reversing down to breach the said mid-point line. I was hoping that price would make it down to R1, but it didn't and started reversing. Having other things to do this afternoon, I decided that 20 pips would do me.
nice one, ev!
took a similar one on the EJ at the same time for 16p.
105.71 to 105.55
  • #7,773
  • Sep 16, 2011 12:06pm Sep 16, 2011 12:06pm
Quoting pgd
nice one, ev!
took a similar one on the EJ at the same time for 16p.
105.71 to 105.55
Good one, pg......

Great to see you back. You've been conspicuous by your absence, brother.
God bless you.
  • #7,774
  • Sep 19, 2011 8:16am Sep 19, 2011 8:16am
This trade is a result of the small period of consolidation running along the mid-point line, which formed a confluence with the MA. Three candles opened and closed whilst straddling the mid-point line, whilst the fourth one opened and closed below it. That was the confirming candle, and I entered on the next one. Price breached S2, but I got a bit impatient with its feeble attempt at the next mid-point line, so I bailed out.
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  • #7,775
  • Sep 19, 2011 12:05pm Sep 19, 2011 12:05pm
This is a pull-back to the confluence of S1 and the MA, ending with a bearish harami (blue square). A confirming candle was needed before the trade entry as shown. Target was the mid-point level, and I bailed out just before it touched. Nice and simple.
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  • #7,776
  • Sep 20, 2011 4:55am Sep 20, 2011 4:55am
It would have been very difficult to resist this one after such a nice dragonfly doji formed right on the Main Pivot level, and the lower shadow reaching down to the xx50 psych-line. This was followed by a strong momentum confirming candle, and all that remained then was to jump on board! Entry and exit as shown.
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  • #7,777
  • Sep 21, 2011 6:28am Sep 21, 2011 6:28am
A nice bearish engulfing pattern initialized this trade, after price retraced to the Main Pivot line/MA confluence. Fairly simple and straightforward, with the target being the next mid-point level down, but seeing as price blew straight through it, I hung on for a minute or two before bailing out as it started to weaken.
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  • #7,778
  • Sep 21, 2011 7:26am Sep 21, 2011 7:26am
A small retrace to the mid-point line after a drop from S1 led to this nice little trade. I got in under the low of the retrace candle and was out after price temporarily dropped below S2.
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  • #7,779
  • Sep 21, 2011 10:05am Sep 21, 2011 10:05am
Another dead simple one from the 15m nzd/usd. Price came down through S1 before retracing back up through it. The fairly large upper shadow and no lower shadow was an indication that there would be more selling. Again, an entry just under the low of the retracement candle, and an entry when price, at the second time of asking, touched the mid-point level. However, as I type this, it's looking like I got out a bit too soon.
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  • #7,780
  • Sep 21, 2011 11:14am Sep 21, 2011 11:14am
Great trades, as always, EV.

Hope all is well.

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