Symmetrical triangle formed across the mid-point level. Entry and exit as indicated.
Adr, psych levels, demand & supply trading 13 replies
EUR/USD 5min - Trendlines and Pivots 379 replies
Important psych levels 1 reply
Standard Pivots and Fibonnaci Pivots? 8 replies
DislikedSymmetrical triangle formed across the mid-point level. Entry and exit as indicated.
I missed it as I was focusing on EURUSD. Where was your stoploss located on that one? Was it the halfway line through the pendent?
DislikedDoes anybody know how to set a alarm on metatrader to sound when price reaches a pivot or mid-point?Ignored
DislikedTwo nice examples from the 5m cable chart.
The yellow circle shows how price broke through the consolidation formed by the MA, the quarterly-point line and the sloping trendline. An entry after the breakout and a possible exit at the mid-point line would have yielded around 15 pips. The blue rectangle highlights the small period of consolidation along the mid-point line, before price continued northwards to the next quarterly-point line where it came to a halt. Again, a possible 15 pips or thereabouts could have been taken.
How did you know to stay in the trade, past the consolidation zone in the blue rectangle?
DislikedFirst one from a rising wedge on the main-pivot line. Second one from a symmetrical triangle on a quarter-point line. Third one from a flag after price moved back up to the main-pivot line.
A pretty good haul, purely and simply from observing how price has reacted at major or minor S/R pivot lines, and acting on said information.