Let God be true, and every other man be a liar
Psych Levels, Pivots, and Trendlines - Resurrected
- #7,842
- Oct 23, 2011 5:23pm Oct 23, 2011 5:23pm
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
This is a trade i took when i saw a positive close above a strong psych level xx000 that also confirmed the break of an ascending triangle for a quick 20pips. Pls EV share your thought on this trade. thanks
Are you using psych-lines exclusively, with no pivot lines? No matter. Psych-lines seem to work just as well as pivots, so each to his own.
- #7,843
- Oct 24, 2011 4:19am Oct 24, 2011 4:19am
A really nice trade, brother. Strictly speaking, it's a symmetrical triangle, lk, rather than an ascending one, but the result was still the same.
Are you using psych-lines exclusively, with no pivot lines? No matter. Psych-lines seem to work just as well as pivots, so each to his own.
Let God be true, and every other man be a liar
- #7,845
- Oct 25, 2011 4:37am Oct 25, 2011 4:37am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Morning, folks.
Missed this one due to other duties, unfortunately, but worth showing. A small bullish piercing candle right on the Main Pivot line would have been the "heads-up" for a possible move northwards. Potential entry indicated as shown, with the target being anywhere around the mid-point level.
Missed this one due to other duties, unfortunately, but worth showing. A small bullish piercing candle right on the Main Pivot line would have been the "heads-up" for a possible move northwards. Potential entry indicated as shown, with the target being anywhere around the mid-point level.
- #7,846
- Oct 25, 2011 7:27am Oct 25, 2011 7:27am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
After price came up and hit the mid-point level, there followed a small period of indecision, initiated by a little harami. Then came a doji and a spinning-top, before price dropped away. Entry as shown, and I exited where indicated because of the close proximity of a major psych-line.
- #7,847
- Oct 25, 2011 11:15am Oct 25, 2011 11:15am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
A quickish one from cable. A bullish engulfing candle (green rectangle) formed and entry was just above the high of said candle. A fairly quick target and exit was at the mid-point level. Nice and simple.
- #7,848
- Oct 27, 2011 5:28am Oct 27, 2011 5:28am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Two nice bullish flags in succession on the NZD/USD. Both breakouts initiated by bullish engulfing candles, both indicated by a blue ellipse. 1st target - mid-point level.....achieved. 2nd target - R3.....not quite reached, but still good enough for a nice profit.
- #7,849
- Oct 31, 2011 6:16am Oct 31, 2011 6:16am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Morning, folks.
Nice little trade resulting from a bullish harami candle (green box) just under the mid-point level. A wait to see what the next candle would do, and then entry and exit as shown. Not a big profit, but better than nothing!
Nice little trade resulting from a bullish harami candle (green box) just under the mid-point level. A wait to see what the next candle would do, and then entry and exit as shown. Not a big profit, but better than nothing!
- #7,852
- Nov 1, 2011 5:16am Nov 1, 2011 5:16am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Morning, folks.
A long retrace up to S1, followed by a nice little harami candle initiated this trade. Entry and exit as shown. A bit impatient, because the TP was good, and I didn't wait to see if it would touch the mid-point level.
A long retrace up to S1, followed by a nice little harami candle initiated this trade. Entry and exit as shown. A bit impatient, because the TP was good, and I didn't wait to see if it would touch the mid-point level.
- #7,853
- Nov 1, 2011 5:17am Nov 1, 2011 5:17am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
anyone looking at shorting the Euro at the S1 level ?
- #7,854
- Nov 1, 2011 5:17am Nov 1, 2011 5:17am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Beautiful trading by eyevoltage
- #7,855
- Nov 1, 2011 7:04am Nov 1, 2011 7:04am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
I was watching to see if this would retrace back to the S1 line. When it didn't, and the bearish candle started forming, that's when I thought about the xx20 psych-line and drew it in. I don't like cluttering up a chart, so I normally leave the psych-lines off, and only draw one on when it looks as if it will be potentially significant. Happily, this one was, and I entered after the bearish engulfing candle formed. The entry is clearly marked, and when price dropped through the mid-point level and started retreating, that's when I bailed out. All very simple and straightforward.
- #7,856
- Nov 1, 2011 8:08am Nov 1, 2011 8:08am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Unfortunately, I missed this one due to other "duties". Two candles, one bearish and one bullish, both with long lower shadows, indicating bullish retaliation, push down through the mid-point level. Then a small shooting-star type candle, with no lower shadow, and finally a lower-high candle making a determined push downwards. An entry anywhere during the time-span of this candle, with S2 a realistic target, and I could have cleaned up!!
But I didn't. Oh well, like buses, there'll be another opportunity along in time.
But I didn't. Oh well, like buses, there'll be another opportunity along in time.
- #7,858
- Nov 2, 2011 6:11am Nov 2, 2011 6:11am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
- #7,859
- Nov 2, 2011 11:49am Nov 2, 2011 11:49am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
I didn't manage to trade this one due to being away from the computer for a while.
However, I thought I'd post it as an example of a range-bound trade within acumen's method.
The green rectangle highlights a dark cloud cover candle with a long upper wick on the mid-point level, indicating a very bearish bias. A spinning-top followed and my entry would have been under the low of said spinning-top. Strong momentum then took price down to below the Main Pivot line and that would have been my exit, which would have netted around 30 pips or so.
K.I.S.S. at its best!
However, I thought I'd post it as an example of a range-bound trade within acumen's method.
The green rectangle highlights a dark cloud cover candle with a long upper wick on the mid-point level, indicating a very bearish bias. A spinning-top followed and my entry would have been under the low of said spinning-top. Strong momentum then took price down to below the Main Pivot line and that would have been my exit, which would have netted around 30 pips or so.
K.I.S.S. at its best!
