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Psych Levels, Pivots, and Trendlines - Resurrected

  • #8,121
  • Jun 14, 2012 3:01am Jun 14, 2012 3:01am
Quoting pgd
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.
Hi pg, and nice to hear from you.

You should know me by now, brother. I like to experiment and move things around now and again, whilst staying within the original concept. Right now, I'm using just pivots, 00 and 50. Plenty of space to give price room to breathe and some quite solid S/R.
  • #8,122
  • Jun 14, 2012 4:08am Jun 14, 2012 4:08am
Quoting eyevoltage
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.
You were right. I thought it would run thro it as it had just bounced up from it. Went to -16 but now +6
  • #8,123
  • Jun 14, 2012 12:10pm Jun 14, 2012 12:10pm
Thought I would post this as it may be useful. My entry was close to S1 but not long after bouncing from it, hence I was confident it would run back thro.

I was eventually stopped out -5. Interestingly my WP was at 15464 so that was my first TP. However someone else had their WP showing at 15480. If my WP had been at 15480 I would not have traded. I will do some research to check WP calculation variations!

Gotta go. Moving home this weekend & may not have reliable connection for a couple of weeks. Dont you just love BTs efficiency. Grrrr. O2 providing a dongle but I dont think they are reliable enough for running charts & trades at the same time.

I will return, so in the meantime, good luck & may you bag lots of pips.
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  • #8,124
  • Jun 21, 2012 6:50am Jun 21, 2012 6:50am
Afternoon, folks.

Just thought I'd drop these two beauties in just to breathe a bit of life back into the thread.
Two flags in succession, with the results as shown. Entry on the second one = 101.323.
Happens loads of times when there's a bit of volatility knocking around.
Attached Image
  • #8,125
  • Jul 26, 2012 6:51am Jul 26, 2012 6:51am
Hello people

Quick one, a break and re-test before 9am before dropping down to the pivot. The big daddy (which i missed) was the break of the wedge which rocketed up past R3.

http://i288.photobucket.com/albums/l...usdmorning.gif
  • #8,126
  • Jul 27, 2012 12:35am Jul 27, 2012 12:35am
Nice wedge break - see how it develops. First target would be open followed by pivot. Also check out the macd divergence.

http://i288.photobucket.com/albums/l...dmorning-1.gif
  • #8,127
  • Jul 27, 2012 6:41am Jul 27, 2012 6:41am
Well we did eventually make it... but it wasn't pretty!

1. This was my initial entry with a 12 pip stop.
2. Stopped out here but the divergence continues so still feel confident in a drop
3. New entry with a 12 pip stop.
4.Put the stop at breakeven at this new trendline ready to re-enter. I actually get stopped out breakeven due to a less than perfect entry.
5. Anothe entry and re-test. I can't remember what you call that candle but it's definitely making me confident in a drop with only the daily open and MR1 in the way.
6. Pivot point provides the perfect exit as originally planned.

Also check out that double bottom at the pivot point. If for some reason I had decided to hold out for more pips I certainly would have exited when that had broken. Also, as if by magic, look where that massive up candle around midday stops. If you're brave you could have taken a small short there.

http://i288.photobucket.com/albums/l...dmorning-2.gif
  • #8,128
  • Jul 30, 2012 2:41am Jul 30, 2012 2:41am
M. Good to see you posting. I hardly have time to trade but do read the thread.
Personally I do like trendlines but after a major thrust, even stopping at a TL, I wouldnt be brave enough to look for a direction change trade.

The candlestick appears to be an inside bar. I am sure EV will know the name. Is it a harami?

Quoting mysterio
Well we did eventually make it... but it wasn't pretty!

1. This was my initial entry with a 12 pip stop.
2. Stopped out here but the divergence continues so still feel confident in a drop
3. New entry with a 12 pip stop.
4.Put the stop at breakeven at this new trendline ready to re-enter. I actually get stopped out breakeven due to a less than perfect entry.
5. Anothe entry and re-test. I can't remember what you call that candle but it's definitely making me confident in a drop with only the daily open and MR1 in the way.
6. Pivot point provides...
  • #8,129
  • Jul 30, 2012 12:13pm Jul 30, 2012 12:13pm
Thanks BC good to see you and the usual faces still about.

Agree with you on the direction change trade but it is interesting to observe.

Here's how I saw today.

http://i288.photobucket.com/albums/l...dmorning-3.gif

It was slightly frustrating and I should have quit while I was ahead.

1 & 2 were entries which I got stopped out breakeven.
3 was the drop which I re-entered when that candle failed to close above the line, plain sailing to S1 for around 24 pips.
5 & 6 were false breaks which I took two losses of 12 pips on taking me back to breakeven for the day.
7 was a break of the head and shoulders which provided a nice drop down to S2 which I closed and yesterday's low.

8 was possible for a quick bite but I stayed out as volume is low at this time of day and it's not worth it.
  • #8,130
  • Jul 31, 2012 1:57am Jul 31, 2012 1:57am
Possible entries

http://i288.photobucket.com/albums/l...dmorning-4.gif
  • #8,131
  • Aug 2, 2012 4:46am Aug 2, 2012 4:46am
Good morning, folks, and nice to see a brief spell of activity recently.

This chart shows a nice retracement to the Main Pivot line to test support, and a hammer formed before price moved north. Simple methods are best.
Attached Image
  • #8,132
  • Aug 9, 2012 5:19am Aug 9, 2012 5:19am
Two nice bearish flags which would have brought nice returns.....
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  • #8,133
  • Aug 9, 2012 6:56am Aug 9, 2012 6:56am
Quoting eyevoltage
Two nice bearish flags which would have brought nice returns.....
Hey EV I was singing your flag in trend praises elsewhere. This was our re-entry trade, didn't get the shooting star entry at M3 1hr shows the psych support becomes resistance level 2385 from a day or 2 back. Only got in later and this was bite 2.

I trust you are well otherwise.
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  • #8,134
  • Aug 9, 2012 7:32am Aug 9, 2012 7:32am
ev, vantage,

great trades!

trust all is well with you, my friends.

vantage,

re. your 1st and 3rd entries marked on the m15 chart:

wouldn't you have entered during the candles next after the ones marked by you with down arrows, upon the lows of the marked candles being taken out?

cheers.
p
  • #8,135
  • Aug 9, 2012 7:38am Aug 9, 2012 7:38am
Quoting pgd
ev, vantage,

great trades!

trust all is well with you, my friends.

vantage,

re. your 1st and 3rd entries marked on the m15 chart:

wouldn't you have entered during the candles next after the ones marked by you with down arrows, upon the lows of the marked candles being taken out?

cheers.
p
The left arrow down is the one I missed, didn't see the SR level until after the fact. It happens. Got the 5 min lower highs that co-coincided with the close of 2nd and 3rd arrow down on 15 min. By then the day was into my view of higher TF pa.
  • #8,136
  • Aug 9, 2012 8:13am Aug 9, 2012 8:13am
Quoting Vantage
The left arrow down is the one I missed, didn't see the SR level until after the fact. It happens. Got the 5 min lower highs that co-coincided with the close of 2nd and 3rd arrow down on 15 min. By then the day was into my view of higher TF pa.
vantage,

perhaps my Q was not clearly stated...

irrespective of the fact that you did not trade some of the entries, what i was saying is that if one chose to trade those setups, one would be entering on the next bar in each case and not on the marked bar itself. Is that correct?

thanks.
  • #8,137
  • Aug 9, 2012 8:28am Aug 9, 2012 8:28am
Hi pg. Nice to see you again, and hello to Vantage as well. Long time since I've heard from you.
Hope you're keeping well, pg.
God bless.
  • #8,138
  • Aug 9, 2012 8:39am Aug 9, 2012 8:39am
Here's one on EJ that followed as a reversal after ev's trade.

bullish divergence at mS2.
price rises to S1 area where it reacts to form a rising triangle.

entry: above triangle
exit : mS1
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  • #8,139
  • Aug 9, 2012 8:41am Aug 9, 2012 8:41am
Yes pg on next candle, entries from 5 min as usual.

Thks EV always well.
  • #8,140
  • Aug 9, 2012 8:44am Aug 9, 2012 8:44am
Quoting eyevoltage
Hi pg. Nice to see you again, and hello to Vantage as well. Long time since I've heard from you.
Hope you're keeping well, pg.
God bless.
yes, I am very well,
thanks for asking, brother.
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