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Psych Levels, Pivots, and Trendlines - Resurrected

  • #8,061
  • Apr 19, 2012 6:09pm Apr 19, 2012 6:09pm
Quoting Barry Cade
I have a chart to attach but ForexFactory has been woefully slow & I am losing the will to live. Maybe try again later or in morning.
Right. ForexFactory now seems to have speeded up so attached is todays EURUSD chart.
I admit the charts look too busy but they arent difficult to read because most of the lines are (Acumens) pivots & psychs. What I really like is the last 2 days trading, showing trendline continuations that became targets for the market to reverse to. It made TP levels easy to set.

Micro TL breakout trade this morning up to longer term TL and rejection of 76% fib, then reaction at other TLs, psychs and DP/WP confluence. Down to S1 confluence with TL channel continuation down from Tuesdays high. Which is also a rejection of the 76% Y low to todays high.

Its easier to see entry points on 15 and 5m charts.

You look at this chart without any lines and it looks like random sideways trading, but it tells you something about everything that is looked for on this thread (apart from an easy-on-your-eye chart).
Attached Image (click to enlarge)
Click to Enlarge Name: eu 190412 large.jpg Size: 176 KB
  • #8,062
  • Apr 20, 2012 4:33am Apr 20, 2012 4:33am
Quoting Barry Cade
Right. ForexFactory now seems to have speeded up so attached is todays EURUSD chart.
I admit the charts look too busy but they arent difficult to read because most of the lines are (Acumens) pivots & psychs. What I really like is the last 2 days trading, showing trendline continuations that became targets for the market to reverse to. It made TP levels easy to set.

Micro TL breakout trade this morning up to longer term TL and rejection of 76% fib, then reaction at other TLs, psychs and DP/WP confluence. Down to S1 confluence with TL channel continuation...
Just been studying your chart, but my monitor screen isn't as big as yours, so I have to zoom out a bit more. However, it's a 1H chart so it can be compared with yours, mate.
Interesting to note that at the moment, EU is sort of re-testing the resistance (which it's been doing since the 17th) formed by WR1 and MS1, with the xx50 psych line just nine pips under that confluence. The chart I'm posting has just W and M pivots, xx00 and xx50 psych-lines and hand drawn mid and some quarterly-points (white dotted lines).
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1181.gif Size: 26 KB
  • #8,063
  • Apr 20, 2012 4:47am Apr 20, 2012 4:47am
Hi EV
GU just had a perfect 85/15 trade and was wondering if you saw it.

I'll find out later if Mrs V got on anything, she might have traded eur we'll see. GU D chart more convincing for move up for me than eur's.

All the best
  • #8,064
  • Apr 20, 2012 4:58am Apr 20, 2012 4:58am
Interesting to note that at the moment, EU is sort of re-testing the resistance (which it's been doing since the 17th) formed by WR1 and MS1, with the xx50 psych line just nine pips under that confluence. The chart I'm posting has just W and M pivots, xx00 and xx50 psych-lines and hand drawn mid and some quarterly-points (white dotted lines).[/quote]

Looks like it might break Y high now. 3160 is 76% fib of high 12/4 to low 16/4 so may go on to 1.3200.

I was looking for retrace to DP at 13123 as there is a TL there that started on low 17/4. I thought it may be a drop to WP at 13106, and then look for a push away from there.

NZD & Oz have been dogs today. NZD has strong support at 8121 which had a fakeout stop sweep in FO today. I am not in trade as its all a mess to me at the mo. I dont trade Friday afternoons now either as they are usually horrid.

Thanks for the WR1 and MS1. I havent added these. Ive only been using MP & WP. Looking at your chart maybe they do have a lot of significance. How come you dont use an indi and hand-draw instead?
  • #8,065
  • Apr 20, 2012 4:58am Apr 20, 2012 4:58am
Quoting Vantage
Hi EV
GU just had a perfect 85/15 trade and was wondering if you saw it.

I'll find out later if Mrs V got on anything, she might have traded eur we'll see. GU D chart more convincing for move up for me than eur's.

All the best
No I didn't see it, V. Too busy concentrating on EU!!
  • #8,066
  • Apr 20, 2012 5:07am Apr 20, 2012 5:07am
Quoting Vantage
Hi EV
GU just had a perfect 85/15 trade and was wondering if you saw it.

I'll find out later if Mrs V got on anything, she might have traded eur we'll see. GU D chart more convincing for move up for me than eur's.

All the best
On EU the only trade I saw was entry at 13153 at 9ish but I thought max 13 pips & 30 pip SL, so I didnt take it. I was wrong as it went to 3178
  • #8,067
  • Apr 20, 2012 5:10am Apr 20, 2012 5:10am
looking for rebound back to DP at 9931 or 9929 where I have S/R on 4hr
  • #8,068
  • Apr 20, 2012 5:14am Apr 20, 2012 5:14am
quote : [NZD & Oz have been dogs today. NZD has strong support at 8121 which had a fakeout stop sweep in FO today. I am not in trade as its all a mess to me at the mo. I dont trade Friday afternoons now either as they are usually horrid.

Thanks for the WR1 and MS1. I havent added these. Ive only been using MP & WP. Looking at your chart maybe they do have a lot of significance. How come you dont use an indi and hand-draw instead?] : quote


I haven't really looked at anything today, other than a sort of sweeping glance. Looks to be a typical Friday, so I just sort of studied your chart whilst I was eating my breakfast! I don't trade on Friday afternoons either, mate. Too busy with other things, I'm afraid, and out most of the afternoon.

Re the WR1 and MS1. I made a chart up of just the W and M lines, but it really wasn't enough for me. So I had the notion of drawing the mid-point lines in for the Weekly pivots. Because there's sometimes quite a distance between the main lines, the quarterly-points come into play as well. I had to draw them by hand as I don't have an indicator that will do it for me. As you know, I have one that will do it for the daily pivots, but I haven't come across one that will do it for the weekly ones! If you know of such an indicator, brother, I'd be grateful if you'd point me in the right direction!
  • #8,069
  • Apr 20, 2012 5:28am Apr 20, 2012 5:28am
Re the WR1 and MS1. I made a chart up of just the W and M lines, but it really wasn't enough for me. So I had the notion of drawing the mid-point lines in for the Weekly pivots. Because there's sometimes quite a distance between the main lines, the quarterly-points come into play as well. I had to draw them by hand as I don't have an indicator that will do it for me. As you know, I have one that will do it for the daily pivots, but I haven't come across one that will do it for the weekly ones! If you know of such an indicator, brother, I'd be grateful if you'd point me in the right direction!
[/quote]


I will check my files but I may not be able to do it today. Think I will switch off shortly as its getting close to NY open so trending unlikely, & Fri pm is ugh.
  • #8,070
  • Apr 20, 2012 5:42am Apr 20, 2012 5:42am
I will check my files but I may not be able to do it today. Think I will switch off shortly as its getting close to NY open so trending unlikely, & Fri pm is ugh.[/quote]

Try this one Maestro. You will get a lot of lines!
Attached File(s)
File Type: ex4 Pivot Points Multitimeframe.ex4   50 KB | 453 downloads
File Type: mq4 Pivot Points Multitimeframe.mq4   45 KB | 415 downloads
  • #8,071
  • Apr 20, 2012 6:14am Apr 20, 2012 6:14am
Quoting Barry Cade
I will check my files but I may not be able to do it today. Think I will switch off shortly as its getting close to NY open so trending unlikely, & Fri pm is ugh.
Try this one Maestro. You will get a lot of lines![/quote]

Thank you, grasshopper!!
Will let you know how they turn out.
See you soon.
God bless.
  • #8,072
  • May 23, 2012 4:52pm May 23, 2012 4:52pm
Is there anyone still replying to this thread. I havr read both and trued acumens web site and all even the forex focus but nothing is working. I would love to get a hold of his indi on pivots and all . I would surely apprieciate it. Thank You
  • #8,073
  • May 23, 2012 5:14pm May 23, 2012 5:14pm
Quoting SteelerKeith
Is there anyone still replying to this thread. I havr read both and trued acumens web site and all even the forex focus but nothing is working. I would love to get a hold of his indi on pivots and all . I would surely apprieciate it. Thank You
What Im trying to get is acumen indicator for psych levels, pivot points. I have visited his web site and it says domain might be up for sale. Also watched his videos on you tube and went to The Forex Focus web site that he mentioned to read up on it and that site will not come up. Any help would be great. Thank you Steeler Keith
  • #8,074
  • May 24, 2012 4:17am May 24, 2012 4:17am
Quoting SteelerKeith
What Im trying to get is acumen indicator for psych levels, pivot points. I have visited his web site and it says domain might be up for sale. Also watched his videos on you tube and went to The Forex Focus web site that he mentioned to read up on it and that site will not come up. Any help would be great. Thank you Steeler Keith
Hi Steeler

Yes its a shame we dont communicate much these days on the thread.

All the indis on this thread can be found if you click on the paperclip in the top right. Then to make it easier exclude all the charts so that all you see are the attached indis. Acumens pivots are named FXI.

Good luck. Hope we see you return, as indeed I hope everyone returns, but we all seem to have other responsibilities that keep us away from trading a lot of the time.
  • #8,075
  • May 24, 2012 9:24am May 24, 2012 9:24am
Quoting Barry Cade
Hi Steeler

Yes its a shame we dont communicate much these days on the thread.

All the indis on this thread can be found if you click on the paperclip in the top right. Then to make it easier exclude all the charts so that all you see are the attached indis. Acumens pivots are named FXI.

Good luck. Hope we see you return, as indeed I hope everyone returns, but we all seem to have other responsibilities that keep us away from trading a lot of the time.
Thank You Barry cade I have found it there. I was up all nite and just now getting out of bed. So missed some trades. I will post some charts good or bad to get this thread started again hopefully, it has been great reading it. I still need to know if I have the indi on the right GMT time or NY close I do not know which one to set it at and how to do it. Your help would be appreciated very much. I thank You very much. Have a great and safe day!!!!!
  • #8,076
  • May 24, 2012 11:17am May 24, 2012 11:17am
Quoting SteelerKeith
I still need to know if I have the indi on the right GMT time or NY close I do not know which one to set it at and how to do it. Your help would be appreciated very much. I thank You very much. Have a great and safe day!!!!!
I am not sure what exact time its set for. Eyevoltage will know. Check thro start of thread for Acumens original setups, and also its a question that will have been asked a lot, so go thro Eyevoltages messages. He is SO worth reading anyway, to get a great undestanding of this type of trading & his explanations are total clarity.

I do know that setup times vary depending upon your broker, so you may need to watch their timings. Nevertheless, most close between 11pm and 1am gmt, and the variations in pivot readings are only small due to low volume trading at those times, so arent critical.

I use Acumens pivots on some of my charts and find them the same as another indi that I use (except on a Monday when Sunday trading affects pivot calcs). The additionally useful feature with Acumens is that you can see are the previous days pivots. However this can make reading longer timeframes very cluttered!
  • #8,077
  • May 24, 2012 11:20am May 24, 2012 11:20am
Steeler

Look forward to seeing your setups, esp as you "missed" some trades today. I was waiting for trendline breaks this morning on EURJPY, EURUSD, AUDUSD, AUDJPY and EURGBP but didnt place them because I was waiting for the market to reach further in their direction before breaking through TL. I felt there needed to be more momentum to avoid a retrace.

Ha. Wrong. Apart from EURGBP which hit my small TP of a round number and 11 pips, the others all dropped thro rapidly making over 20-40 each past my open prices within minutes, despite being 30 pips above my TL. Normally they max out at 40-50 pips movement in total before retracing. They then did retrace and went back beyond where I was originally looking for them to go! (& recently many early trades have been glacial, taking 2 hours to reach 20 pips).

Its tough reading this market. So, yes I would like to see the trades that you would have taken given the greater risk explained above.
  • #8,078
  • May 24, 2012 8:28pm May 24, 2012 8:28pm
Hey Barry I really didn't look at market today for not getting out of bed late, I figured I just missed some trades. However I noticed my Indi changed for the day at 00:00 GMT time which is at 8:00 p.m. EST here in Florida. That also is the beginning of the Toyoko session here. Im looking forward to Chatting and learning off each others charts. I so much appreciate your kindness and help!!!!
  • #8,079
  • May 25, 2012 4:59am May 25, 2012 4:59am
Quoting SteelerKeith
Hey Barry I really didn't look at market today for not getting out of bed late, I figured I just missed some trades. However I noticed my Indi changed for the day at 00:00 GMT time which is at 8:00 p.m. EST here in Florida. That also is the beginning of the Toyoko session here. Im looking forward to Chatting and learning off each others charts. I so much appreciate your kindness and help!!!!
No setups I like the look of at the moment. However, it was only a cursory glance as I dont like trading on Fridays. Have a good weekend
  • #8,080
  • May 29, 2012 4:20am May 29, 2012 4:20am
Nice to see some activity on this thread. I honestly assumed that it was finally dead, but there seems to be some life in the old dog yet!!

I'll hang around on here and see what happens.

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