Psych Levels, Pivots, and Trendlines - Resurrected | Page 410 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #8,181
  • Aug 29, 2012 4:10am Aug 29, 2012 4:10am
Morning, chrissfx and anybody else passing by!

This was a nice dragonfly doji forming across the Main Pivot line followed by a healthy confirmation candle, and price then climbing to the mid-point level. I missed this due to other commitments, unfortunately.
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  • #8,182
  • Sep 4, 2012 9:23am Sep 4, 2012 9:23am
Just thought I'd show these 3 opportunities on AU.

Number 1 shows a bearish engulfing pattern, that in actual fact, engulfed the previous four candles! This was right on the Main Pivot line and then price headed down to the next mid-point level.

Number 2 shows a bullish piercing pattern and the resulting move from the mid-point level right back up to the Main Pivot line.

Number 3 is a bearish piercing pattern (not a dark cloud cover due to the fact that the piercing candle has to finish either at or below two thirds of the way down the previous candle). Price again finished up at the mid-point level.

All potential entries and exits indicated.
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  • #8,183
  • Sep 4, 2012 11:09am Sep 4, 2012 11:09am
crissfx,

what indicator / tool are you using to draw those channels?

thanks.
  • #8,184
  • Sep 5, 2012 2:09am Sep 5, 2012 2:09am
Good morning @ all,


Quoting pgd
crissfx,

what indicator / tool are you using to draw those channels?

thanks.
Hello pgd, i'm using the andrews pitchfork tool from mt4. I'm using it like normal trendline, but connecting the counterline with the swing low. Mostly, i'm trading away from the median line... i'm trading only from the other 2 lines, when these are in confluence with the h4 timeframe.
PeterE, has 3 or 4 videos at you tube which show it nicely.

And here is today's chart:

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Trading plan:
long if break of S1 and resistance-tl
short if break of median line

Regards

Chriss
  • #8,185
  • Sep 5, 2012 4:45am Sep 5, 2012 4:45am
After price hit S2, there was a short period of indecision, indicated by a spinning-top, a gravestone doji, and another spinning-top. This second spinning-top, however, opened and closed above S2, and entry was above the high of said spinning-top. Entry and exit as indicated.
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  • #8,186
  • Sep 5, 2012 9:02am Sep 5, 2012 9:02am
Quoting eyevoltage
...there was a short period of indecision...
Hey eyevoltage, very nice PA observation!


I'm very interested about tomorrow, how the markets will react by ECB investment


Me got one small loss at the median line today and some hours later the long entry, which has been profitable. So did stick to the trading plan and everything is fine...

Chriss
  • #8,187
  • Jan 26, 2013 2:50pm Jan 26, 2013 2:50pm
Hello all around here
Wanted to thank Eyevoltage for all his shared trading wisdom in here, besides other great posters/traders too.....
I refer me directly to Eyevoltage as he looked like "running the show" lately.... and he makes this intraday/semi-scalping trading looking really easy....
Hardest thing to do in many aspects of life consist in making them the easiest....
Is this thread still alive??
really interesting one.... if i'm not late for the main show....
  • #8,188
  • Mar 5, 2013 1:48am Mar 5, 2013 1:48am
I thought perhaps this thread could use a little revival..
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  • #8,189
  • Mar 5, 2013 2:06am Mar 5, 2013 2:06am
Took my +20

Could maybe ride longer but going to bed!
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  • #8,190
  • Mar 5, 2013 10:11am Mar 5, 2013 10:11am
One for the morning and hopefully I can close this before work. Depending on current bar I may take profit earlier.
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  • #8,191
  • Mar 6, 2013 3:00am Mar 6, 2013 3:00am
Missed this one because I took a shower.

-Inside Bar
-Fib
-pivot
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  • #8,192
  • Mar 6, 2013 3:10am Mar 6, 2013 3:10am
Hi biDc, and welcome to the thread. Nice clear charts, mate.
  • #8,193
  • Mar 6, 2013 10:21am Mar 6, 2013 10:21am
Quoting eyevoltage
Hi biDc, and welcome to the thread. Nice clear charts, mate.
Thanks EV. I learned a lot from your charts. Hope you resume posting!

One for the morning before I'm off to work. This one is close to R1 but I couldn't resist the confluences...

-Fib (not shown)
-Trendline
-.50
-purple line is previous resistance with 3 touches currently support
-bullish engulfing
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  • #8,194
  • Mar 6, 2013 12:52pm Mar 6, 2013 12:52pm
Quoting biDc
Thanks EV. I learned a lot from your charts. Hope you resume posting!

One for the morning before I'm off to work. This one is close to R1 but I couldn't resist the confluences...

-Fib (not shown)
-Trendline
-.50
-purple line is previous resistance with 3 touches currently support
-bullish engulfing
Good one, biDc. I can see why you couldn't resist the confluences, and it seems your judgement was spot on!! By my reckoning, I guess you grabbed around 30 pips in profit? I brought it up on my charts, and there wasn't much difference, apart from your bullish engulfing pattern, which in actual fact was a bullish sash pattern on mine.
Well done, mate.
  • #8,195
  • Mar 6, 2013 11:22pm Mar 6, 2013 11:22pm
Quoting eyevoltage
Good one, biDc. I can see why you couldn't resist the confluences, and it seems your judgement was spot on!! By my reckoning, I guess you grabbed around 30 pips in profit? I brought it up on my charts, and there wasn't much difference, apart from your bullish engulfing pattern, which in actual fact was a bullish sash pattern on mine.
Well done, mate.
Yup! Snagged 30 off the R2

I had this trade at the same time but I didn't have time to post because I had to leave for work.

-Trendline break
-Bearish engulfing followed by a pinbar
-Broke below 1.30000
-Had my sell order below the midpoint

Took 15 pips on this one off the 1.29800 + S2 confluence.
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  • #8,196
  • Mar 7, 2013 7:54am Mar 7, 2013 7:54am
Quoting biDc
Yup! Snagged 30 off the R2

I had this trade at the same time but I didn't have time to post because I had to leave for work.

-Trendline break
-Bearish engulfing followed by a pinbar
-Broke below 1.30000
-Had my sell order below the midpoint

Took 15 pips on this one off the 1.29800 + S2 confluence.
You're doing well, biDC!! I've just finished a small trade on 15m USD/JPY. Price pierced R1 and then a doji formed above it. Entry just above the high of the doji and exit as shown.
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  • #8,197
  • Mar 7, 2013 8:43am Mar 7, 2013 8:43am
Another nice little trade, this time on the 5m EU. A bullish flag that finished on the confluence of the midpoint and the 13ema. Entry and exit as indicated.
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  • #8,198
  • Mar 7, 2013 3:25pm Mar 7, 2013 3:25pm
Nice trades EV as usual!
  • #8,199
  • Mar 7, 2013 4:53pm Mar 7, 2013 4:53pm
Quoting biDc
Nice trades EV as usual!
Thank you, brother. Just trying to demonstrate how simple trading can be, as the originator, acumen, did.
  • #8,200
  • Mar 7, 2013 8:53pm Mar 7, 2013 8:53pm
Bought this.

-Pennant breakout
-Broke above 95.00
-Small hammer retracement
-Trend is up and strength of trend is strong

I know...not the typical trade. But I will be monitoring this closely.
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