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Psych Levels, Pivots, and Trendlines - Resurrected

  • #8,101
  • May 30, 2012 2:50am May 30, 2012 2:50am
Quoting eyevoltage
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.
5553 is S2 on my chart, so good discretion!

Took profits on NZD. A disappointing 12 pips, but at least its profit. Its me that chickened here. There is still the opening gap to fill from 2 days ago but as we retraced above YL i jumped off.

Ha, AUDJPY was fallen another 20+. Oh well. I am happy with my trade & where I took profit.
  • #8,102
  • May 30, 2012 3:07am May 30, 2012 3:07am
Quoting Barry Cade
5553 is S2 on my chart, so good discretion!

Took profits on NZD. A disappointing 12 pips, but at least its profit. Its me that chickened here. There is still the opening gap to fill from 2 days ago but as we retraced above YL i jumped off.

Ha, AUDJPY was fallen another 20+. Oh well. I am happy with my trade & where I took profit.
Looks like you've had a good day so far, mate. How long before we see some charts, brother? I know you've got a problem or two, but I'm just wondering.
  • #8,103
  • May 30, 2012 3:31am May 30, 2012 3:31am
Quoting eyevoltage
Looks like you've had a good day so far, mate. How long before we see some charts, brother? I know you've got a problem or two, but I'm just wondering.
I have to go out now. Finished trading. If I get back in afternoon I will setup computer so I can load charts.
Catchya later
  • #8,104
  • May 30, 2012 5:38am May 30, 2012 5:38am
A shooting-star type candle where the body ends up forming a harami candle! Now that's what I call confirmation! Entry just under xx80 and good momentum down, exiting after price pierced xx60.
Attached Image
  • #8,105
  • May 30, 2012 8:36am May 30, 2012 8:36am
Quoting eyevoltage
A shooting-star type candle where the body ends up forming a harami candle! Now that's what I call confirmation! Entry just under xx80 and good momentum down, exiting after price pierced xx60.
Good one EV. Ive just got back in. It was also a break of the upward TL and WP rejection!
My images to follow, but they arent as clear as yours - I have all psych lines showing, and they arent labelled so the images are predictably busy looking.
  • #8,106
  • May 30, 2012 8:40am May 30, 2012 8:40am
Quoting Barry Cade
I have to go out now. Finished trading. If I get back in afternoon I will setup computer so I can load charts.
Catchya later
Its now "later " so as promised, images attached for AU and AJ trades this morning.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd 5m 300512.jpg Size: 130 KB
Click to Enlarge Name: audjpy 5m 300512.jpg Size: 148 KB
  • #8,107
  • May 30, 2012 8:49am May 30, 2012 8:49am
I may not be around much as I am refurbishing a flat and need to be there. Been a really good day trading today. I also bagged 30 pips on USDCAD as it broke thro Y high and reached Prev W high. Its not part of this threads trading so I wont explain, but its great when all 4 trades in a day win, and good to find time to post with EV again.

If every day was like this I wouldnt be refurbishing property!!!
Catchya when I can.
  • #8,108
  • May 31, 2012 6:01am May 31, 2012 6:01am
A sideways wedge formed along the confluence of xx80 and the 60ema. Entry and exit as indicated.
Attached Image
  • #8,109
  • May 31, 2012 6:34am May 31, 2012 6:34am
Quoting eyevoltage
A sideways wedge formed along the confluence of xx80 and the 60ema. Entry and exit as indicated.
Lovely trade Maestro.
I checked charts at 7 this morning. Nothing I liked look of before I rushed out. In just returning for a quick lunch I couldnt resist checking charts. EJ had formed nice TL and broke thro at 11am ish with small spinning top. I wouldnt have taken my normal 5 pip break here because of Y low at 97.74 & mid pivot just above. Your entry was perfect next opportunity.

NZD TL break would have interested me but it had gone too high for my liking, above WP and DP. Now its back at WP but 1H candle is a big dragonfly. Worth watching for a sell though. Gotta go back to property work so cant wait to watch markets.

I wont trade tomorrow on Forex or on Mon Tues as its Bank Hols, so will catch you next week. Have a great Bank Hol weekend!
  • #8,110
  • May 31, 2012 6:55am May 31, 2012 6:55am
Quoting Barry Cade
Lovely trade Maestro.
I checked charts at 7 this morning. Nothing I liked look of before I rushed out. In just returning for a quick lunch I couldnt resist checking charts. EJ had formed nice TL and broke thro at 11am ish with small spinning top. I wouldnt have taken my normal 5 pip break here because of Y low at 97.74 & mid pivot just above. Your entry was perfect next opportunity.

NZD TL break would have interested me but it had gone too high for my liking, above WP and DP. Now its back at WP but 1H candle is a big dragonfly. Worth watching...
Many thanks for your comments, mate. OK on the bank holiday weekend.......see you next week. God bless.
  • #8,111
  • Jun 1, 2012 9:37am Jun 1, 2012 9:37am
This is one I missed earlier, due to other commitments. A nice bullish piercing pattern (blue square) slightly above xx60, and a potential entry just above the high of candle breaching the xx80. Roughly 30 pips went begging. Them's the breaks sometimes.
Attached Image
  • #8,112
  • Jun 1, 2012 9:45am Jun 1, 2012 9:45am
I got this next one, after a spinning-top/harami candle formed, right on the confluence of R1 and xx20, suggesting a move down. Entry just under the low of the harami and probably a premature exit, but I have other things to do.
Attached Image
  • #8,113
  • Jun 6, 2012 3:30pm Jun 6, 2012 3:30pm
Quoting eyevoltage
I got this next one, after a spinning-top/harami candle formed, right on the confluence of R1 and xx20, suggesting a move down. Entry just under the low of the harami and probably a premature exit, but I have other things to do.
Good stuff EV. No setups early this morning that I liked, as much movement overnight. Off refurbing flat for rest of day. I see that many currencies have had very big ranges today, so hope you bagged some of it.

Overnight setups looked interesting last night as 11 of the 16 pairs were forming pullbacks/flags. Looks like there will be some nice setups in next couple of days. However I wont be at screen much as too much refurb work to do.

Catch you soon.
  • #8,114
  • Jun 12, 2012 2:19am Jun 12, 2012 2:19am
I didnt trade yesterday after gapping, following Spanish bailouts.

Tried today on EJ and AUDUSD after breakouts from trends. Both whipped back as did other currencies, hitting SLs. Grrrr. Think I will dip out for the rest of the week and concentrate on my refurb. Greek elections as well as PIIGS causing too many problems in market.

TTFN
  • #8,115
  • Jun 12, 2012 8:42am Jun 12, 2012 8:42am
My one trade of the day and it was a beauty. After hitting the confluence of R1 and xx50, price bounced down to the Main Pivot line and formed a nice spinning-top (blue circle). I got in as indicated just above the high of the spinning-top and the target was always going to be the confluence previously referred to. However, momentum was very strong and price breached the confluence, with the following candle also showing a strong move. Entry and exit as shown. Well, they do say that patience is a virtue!!
Attached Image
  • #8,116
  • Jun 12, 2012 12:05pm Jun 12, 2012 12:05pm
Quoting eyevoltage
...and it was a beauty.
As always, ev !
Good to see the thread going on with you
Donīt live for working, but work for living.
  • #8,117
  • Jun 13, 2012 1:11am Jun 13, 2012 1:11am
Quoting matsf
As always, ev !
Good to see the thread going on with you
Thanks, matsf. Great to hear from you again. Hope all is well with you and yours. Take care and God bless.
  • #8,118
  • Jun 14, 2012 12:25am Jun 14, 2012 12:25am
Quoting eyevoltage
My one trade of the day and it was a beauty. After hitting the confluence of R1 and xx50, price bounced down to the Main Pivot line and formed a nice spinning-top (blue circle). I got in as indicated just above the high of the spinning-top and the target was always going to be the confluence previously referred to. However, momentum was very strong and price breached the confluence, with the following candle also showing a strong move. Entry and exit as shown. Well, they do say that patience is a virtue!!
Nice one mate

Check out GU at the moment. Flag after bounce from S1 54729 and psych area. Rejection of 13ema and 50% retrace of large bear candle on 1hr and 38% of this mornings hilo. Sell. at .80ish
  • #8,119
  • Jun 14, 2012 12:50am Jun 14, 2012 12:50am
Quoting Barry Cade
Nice one mate

Check out GU at the moment. Flag after bounce from S1 54729 and psych area. Rejection of 13ema and 50% retrace of large bear candle on 1hr and 38% of this mornings hilo. Sell. at .80ish
Morning, brother. Yep, I can see the flag, but I'd sell below the S1.....it's a bit too close for comfort for a sell right now.
  • #8,120
  • Jun 14, 2012 12:52am Jun 14, 2012 12:52am
hi ev!

hope you are doing well, brother.

i notice a change in your RN choice from 00, 25, 50, 75 to 00, 20, 40, 60, 80.
also, i saw ema60 in one of your charts.

what's the story...

cheers.
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