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Psych Levels, Pivots, and Trendlines - Resurrected

  • #8,081
  • Edited 4:37am May 29, 2012 4:27am | Edited 4:37am
Just to kick it off again, perhaps, there's a nice little consolidation of spinning-tops etc on the 15m AU around MR1 and could head up to R1, given time. Price is above my 50ema, so going long could be on the cards.
TWT

EDIT: .....and so, to teach me a lesson, price promptly dropped to the Main Pivot line!! Oh, well.......
  • #8,082
  • May 29, 2012 5:02am May 29, 2012 5:02am
I took this reversal based off my resistant line (gold) got in a little late. Closed it out at the RN for 14 pips also got out to early but still profitable. I based this on 1 hr chart and entered on 15 min.
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  • #8,083
  • May 29, 2012 5:27am May 29, 2012 5:27am
Quoting SteelerKeith
I took this reversal based off my resistant line (gold) got in a little late. Closed it out at the RN for 14 pips also got out to early but still profitable. I based this on 1 hr chart and entered on 15 min.

Nice trade, brother, and welcome to the thread. You may have got out early, but a profit is a profit, whichever way you look at it.

Hope you stick around, mate.
  • #8,084
  • May 29, 2012 8:24am May 29, 2012 8:24am
Quoting eyevoltage
Nice trade, brother, and welcome to the thread. You may have got out early, but a profit is a profit, whichever way you look at it.

Hope you stick around, mate.
Thank You EyeVoltage, I have read this thread and very interested in it. I seen all your comments etc. And was hoping you guys would still be here. And yes I will be here!!!!
  • #8,085
  • May 29, 2012 8:44am May 29, 2012 8:44am
Watching Red Flag on US news. After news comes out this good be a possible good trade up or down according to Levels and Fibo peeking through the 50 level with a trend line as support which good be broken or bounce up around pivot line also. The entry and exit was a previous trade earlier.
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  • #8,086
  • May 29, 2012 9:43am May 29, 2012 9:43am
Quoting SteelerKeith
Watching Red Flag on US news. After news comes out this good be a possible good trade up or down according to Levels and Fibo peeking through the 50 level with a trend line as support which good be broken or bounce up around pivot line also. The entry and exit was a previous trade earlier.
Well I did not take a trade just couldn't feel right at this time of day 10:00 am est.
  • #8,087
  • May 29, 2012 10:33am May 29, 2012 10:33am
Quoting SteelerKeith
Well I did not take a trade just couldn't feel right at this time of day 10:00 am est.
I would agree. I havent been taking trades in the late UK afternoon. Currently I look for breaks of trendlines early morning. Both you and EV spotted this one on AU. I didnt take it as movement this morning was slow on all currencies and as EV said, it was heading into DP and MAs, so more than likely would retrace. However there was a burst of activity and it dropped down. Good trade Steeler! I wasnt prepared to be patient today as I have a lot of non-trading work on.

I watch AU a lot these days, and 10-15 pips is what it usually moves after a break of trend early UK time before retracing, so you took a good trade.

NZD also broke TL 9.05 UK time down from Y high to DP then created a nice flag up to 7620 before dropping at 10.30am thro to 7589. It was already close to ADR so I didnt take the risk of opening trade on break of TL.

I had a setup at Y low as y gapped up & it hasnt filled, but thats been cancelled
  • #8,088
  • May 29, 2012 1:43pm May 29, 2012 1:43pm
Ok my friends I took this trade easrlier due to PA coming down to todays low with a beautiful pin bar, RN and Zone area (yellow) from last Thurs. high of day and Fri. High of day with todays low. I had a SL set at 5 pips below RN .9800. It about took me out however things worked out. It was actually a little to late in day to take trade but I couldn't resist with the set up I was seeing. Things really slowed down so I took profit for 12.5 pips and got out to be on the plus side. But as Im typing the move is still going up. Im seeing possible retrace to todays pivot then a down turn to possilby my trend line not SL. Tommorrow may bring another good trade we'll see. May we all make those green pips. Also notice the DIV. we had at that time .
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  • #8,089
  • May 29, 2012 2:01pm May 29, 2012 2:01pm
Quoting SteelerKeith
Ok my friends I took this trade easrlier due to PA coming down to todays low with a beautiful pin bar, RN and Zone area (yellow) from last Thurs. high of day and Fri. High of day with todays low. I had a SL set at 5 pips below RN .9800. It about took me out however things worked out. It was actually a little to late in day to take trade but I couldn't resist with the set up I was seeing. Things really slowed down so I took profit for 12.5 pips and got out to be on the plus side. But as Im typing the move is still going up. Im seeing possible retrace...
Thanks for the posts on here, Keith. Great to see some activity for a change, and my amigo Barry returning.

See you tomorrow, I hope, with some great trades. Well, we live in hope......
  • #8,090
  • May 30, 2012 1:46am May 30, 2012 1:46am
rising TL on 15m just beneath Y low, 9800 rn and on weekly pivot and 5m 60ma (this is one I recently saw as a useful backstop trailing ma). Rejection of these and open trade 5 pips below break of TL.

Apologies for no charts yet. Using 2 computers & not had time to set up properly for posting and reading charts on same one.
  • #8,091
  • May 30, 2012 2:12am May 30, 2012 2:12am
NZDUSD 15m rising TL also currently just above 76000 & mid pivot. DP at 76154. Maybe it will reach DP and bounce down. May just drop at London open. S1 7585

AUDJPY rising 15m TL at Y low and S1 at 77.86. WP 77.91. I would like it to bounce off WP before breaking TL so there is more momentum

5 pips below TL trades just opened
  • #8,092
  • May 30, 2012 2:47am May 30, 2012 2:47am
Quoting Barry Cade
NZDUSD 15m rising TL also currently just above 76000 & mid pivot. DP at 76154. Maybe it will reach DP and bounce down. May just drop at London open. S1 7585

AUDJPY rising 15m TL at Y low and S1 at 77.86. WP 77.91. I would like it to bounce off WP before breaking TL so there is more momentum

5 pips below TL trades just opened
AJ just closed +25 as it had pushed past S2 and ADR reached 94 when average is 89. There may be more in the move but I am not taking risk.
  • #8,093
  • May 30, 2012 2:48am May 30, 2012 2:48am
Morning, Barry.

You've been busy I see!!
  • #8,094
  • Edited 3:09am May 30, 2012 3:09am | Edited 3:09am
Quoting eyevoltage
Morning, Barry.

You've been busy I see!!
Good morning Maestro.
Check out AUD I am +15 but its just coming out of a flag so theres another entry possible as its also at 62% fib
  • #8,095
  • May 30, 2012 3:36am May 30, 2012 3:36am
Quoting Barry Cade
Good morning Maestro.
Check out AUD I am +15 but its just coming out of a flag so theres another entry possible as its also at 62% fib
I can see a flag that started forming around 2.30am, and the break-out was round 8.00am. This is on the 15m chart. Is that what you're referring to?
  • #8,096
  • May 30, 2012 4:00am May 30, 2012 4:00am
I'm watching a symmetrical triangle on EJ which looks as it's ripe for a break-out. TWT.
  • #8,097
  • May 30, 2012 4:11am May 30, 2012 4:11am
Quoting eyevoltage
I can see a flag that started forming around 2.30am, and the break-out was round 8.00am. This is on the 15m chart. Is that what you're referring to?
thats the one. Apologies for delay. Been fixed to screens. Just closed AUD for +30 as it hit S2. ADR now 101 vs average 98.

NZD at last started to move. Currently +10
  • #8,098
  • May 30, 2012 4:12am May 30, 2012 4:12am
Quoting eyevoltage
I'm watching a symmetrical triangle on EJ which looks as it's ripe for a break-out. TWT.
good one. I missed the EJ breakout at Y low earlier whilst setting up other trades
  • #8,099
  • May 30, 2012 4:15am May 30, 2012 4:15am
Quoting Barry Cade
good one. I missed the EJ breakout at Y low earlier whilst setting up other trades
also missed EU breakout of TL at 8am. Ah well. Been a good day anyway
  • #8,100
  • May 30, 2012 4:23am May 30, 2012 4:23am
Quoting Barry Cade
thats the one. Apologies for delay. Been fixed to screens. Just closed AUD for +30 as it hit S2. ADR now 101 vs average 98.

NZD at last started to move. Currently +10

Nice one, mate. Elbowed the EJ triangle, and followed Cable instead. Retracement to xx80 followed by engulfing pattern and then a nice drop down towards S2, but I bailed out before it got there.

Edit: On reflection, I should have taken the EJ triangle as well. Just didn't think it would drop the way it did.
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