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Psych Levels, Pivots, and Trendlines - Resurrected

  • #7,921
  • Nov 24, 2011 5:27am Nov 24, 2011 5:27am
Quoting eyevoltage
Morning, iak. Would that be EU? If so, it's hung up on the quarter-point line at the moment, with a very bullish candle trying to breach the MA.
yep!
quarter-point line?
  • #7,922
  • Nov 24, 2011 5:33am Nov 24, 2011 5:33am
Quoting iak
yep!
quarter-point line?
Yes, when there's a substantial distance between the mid-point line and a major level (Main Pivot line, R1, S1 etc.), it's always worth putting in a quarter-point line, because, surprisingly, price does tend to react to these levels.
  • #7,923
  • Nov 24, 2011 5:36am Nov 24, 2011 5:36am
Quoting eyevoltage
Yes, when there's a substantial distance between the mid-point line and a major level (Main Pivot line, R1, S1 etc.), it's always worth putting in a quarter-point line, because, surprisingly, price does tend to react to these levels.

ok thanks. will try and remember that.
  • #7,924
  • Nov 28, 2011 3:29am Nov 28, 2011 3:29am
Morning, folks.

A push above R1, followed by a little retracement that didn't quite make the touch. Entry and exit as indicated. Nice start to my day!
Attached Image
  • #7,925
  • Nov 28, 2011 3:57am Nov 28, 2011 3:57am
Quoting eyevoltage
Yes, when there's a substantial distance between the mid-point line and a major level (Main Pivot line, R1, S1 etc.), it's always worth putting in a quarter-point line, because, surprisingly, price does tend to react to these levels.
Very interesting. Have never heard of anyone using quarter points. I will have a look at this over the next few weeks. If they prove to be valid then it will help greatly when we have a one of those days with a really big range followed by a normal or below normal range day. Sometimes in these cases, the pivots never even come into play.

Cheers for the heads up
  • #7,926
  • Nov 28, 2011 4:17am Nov 28, 2011 4:17am
Quoting Agro
Very interesting. Have never heard of anyone using quarter points. I will have a look at this over the next few weeks. If they prove to be valid then it will help greatly when we have a one of those days with a really big range followed by a normal or below normal range day. Sometimes in these cases, the pivots never even come into play.

Cheers for the heads up
You're quite right, Agro. When the distance between the mid-points and the main lines is fairly substantial, it can be a frustrating business. However, using quarterly-lines can make the whole experience a lot less frustrating, thank goodness. If you go to the attachments at the top of the page, you'll find "SDX-TZ Pivots", which can incorporate quarterly-lines whenever you choose.
  • #7,927
  • Nov 28, 2011 5:43am Nov 28, 2011 5:43am
Quoting eyevoltage
You're quite right, Agro. When the distance between the mid-points and the main lines is fairly substantial, it can be a frustrating business. However, using quarterly-lines can make the whole experience a lot less frustrating, thank goodness. If you go to the attachments at the top of the page, you'll find "SDX-TZ Pivots", which can incorporate quarterly-lines whenever you choose.
Cheers mate, I plot manually though as I do not use mt4, but thanks anyway
  • #7,928
  • Nov 29, 2011 6:22am Nov 29, 2011 6:22am
Wish I had been awake. Being in the EST can be tough. Time to start waking up I think. I did not get any of this, but it took nice ride up and down, based on these pivots. Hope someone caught it.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 19 KB
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #7,929
  • Edited 7:50am Nov 29, 2011 7:48am | Edited 7:50am
Quoting capstone
Wish I had been awake. Being in the EST can be tough. Time to start waking up I think. I did not get any of this, but it took nice ride up and down, based on these pivots. Hope someone caught it.

Yes, capstone, it's a pain in the ass when you miss obvious opportunities. I'm posting my chart (same as yours) with what I'd call opportunities. Like you, I missed them, but for different reasons! Busy, busy, busy........

Edit: Seems our pivots are a little "off" from each other, brother.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1162.gif Size: 18 KB
  • #7,930
  • Nov 29, 2011 7:54am Nov 29, 2011 7:54am
Yes, they are off. I think it is because my broker, Oanda, uses Midnight EST as the start of a new day. I have come to grips with that, as long as PA is respecting the pivots I have, I am good with it. I have looked at the pivot indicator I have, but do not have the ability to change the start of each day in it. I suppose I could see how to change the chart....Hmmmm....
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #7,931
  • Nov 29, 2011 8:04am Nov 29, 2011 8:04am
Quoting capstone
Yes, they are off. I think it is because my broker, Oanda, uses Midnight EST as the start of a new day. I have come to grips with that, as long as PA is respecting the pivots I have, I am good with it. I have looked at the pivot indicator I have, but do not have the ability to change the start of each day in it. I suppose I could see how to change the chart....Hmmmm....
That's it in a nutshell, brother. If price doesn't seem to be respecting/reacting to the pivot lines you have, then it's time to do something about it. Otherwise, leave it as it is.
  • #7,932
  • Dec 2, 2011 5:22am Dec 2, 2011 5:22am
Does anybody know how to set a alarm on metatrader to sound when price reaches a pivot or mid-point?
  • #7,933
  • Dec 2, 2011 6:37am Dec 2, 2011 6:37am
Just made a nice 20 something pips on eur/usd 5min. Price went up past mid point so i set a buy order on the mid-point. We had a retrace which opened my buy order and then it was not long before price shot up to the pivot R1 which is where i had my take profit.

Attached Image
  • #7,934
  • Dec 2, 2011 6:50am Dec 2, 2011 6:50am
nice trade iak. That is gold for NFP Friday!
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #7,935
  • Dec 4, 2011 5:24pm Dec 4, 2011 5:24pm
Quoting iak
Just made a nice 20 something pips on eur/usd 5min. Price went up past mid point so i set a buy order on the mid-point. We had a retrace which opened my buy order and then it was not long before price shot up to the pivot R1 which is where i had my take profit.

Attachment
Nice trade, iak. I'm always pretty busy from midday onwards on a Friday, so I don't get much chance to trade. I've just looked at my chart corresponding with yours, and I see on the mid-point line a bullish harami followed by a dragonfly doji - a really good heads-up for a nice possible bullish move, and so it proved. Well done, brother!!
  • #7,936
  • Dec 5, 2011 4:13am Dec 5, 2011 4:13am
morning. my only available trading day this week. I am mainly looking for a bounce after a pivot break today but i am studying candles so as to be able to see what eyevoltage can see. good luck today
  • #7,937
  • Edited 6:09am Dec 5, 2011 5:41am | Edited 6:09am
In short after price fell through pivot and retraced to test it. take profit set and next mid-point for 40 odd pipd hopefully. stop loss just above last retrace to the pivot. looking a bit choppy since my screen save!
on the 15 min chart there was some nice divergence before price fell also.

Attached Image


Gave myself a slightly larger stop (10 pips now). still in short.

stopped out. shld have paid attention to 15min chart candles!
  • #7,938
  • Edited 6:05am Dec 5, 2011 6:04am | Edited 6:05am
Quoting iak
In short after price fell through pivot and retraced to test it. take profit set and next mid-point for 40 odd pipd hopefully. stop loss just above last retrace to the pivot. looking a bit choppy since my screen save!
on the 15 min chart there was some nice divergence before price fell also.

Attachment

Gave myself a slightly larger stop (10 pips now). still in short.
Nice idea, but price seems to be settled in a consolidation mode right now.
TWT, brother!
  • #7,939
  • Dec 6, 2011 4:33am Dec 6, 2011 4:33am
Hi Eyevoltage, have you taken G/U and E/U bullish flag break outs?
It is exactly your style which I admire.
Both are also breaks of psych levels and on the way to daily PP.
  • #7,940
  • Dec 6, 2011 5:50am Dec 6, 2011 5:50am
Quoting shiko
Hi Eyevoltage, have you taken G/U and E/U bullish flag break outs?
It is exactly your style which I admire.
Both are also breaks of psych levels and on the way to daily PP.
Hi Shiko
No, I haven't been trading this morning due to other duties. I haven't been able to check them out yet, but they sound as if they were great opportunities. I hope you got one of them at least?
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