Psych Levels, Pivots, and Trendlines - Resurrected | Page 418 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #8,341
  • Apr 23, 2013 4:56am Apr 23, 2013 4:56am
Long after engulfing, close above pivot. All this after harmonic pattern. Then 2x HL.

Exit at R2, confluence with SD area on left. (not seen here)
Attached Image (click to enlarge)
Click to Enlarge Name: eu ev 4-23.png Size: 46 KB
  • #8,342
  • Apr 23, 2013 5:38am Apr 23, 2013 5:38am
Quoting snail69
Long after engulfing, close above pivot. All this after harmonic pattern. Then 2x HL. Exit at R2, confluence with SD area on left. (not seen here) {image}
Well done, snail. I personally wouldn't have entered into anything around there simply because the MA's were flat, and showing no signs of movement. However, each to his own, brother. You got a profit and that's what counts.
  • #8,343
  • Apr 23, 2013 7:33am Apr 23, 2013 7:33am
GbpJpy

Not sure if this qualifies. Price rejected RN 151.00, as well as D S1. Entered at break of rejection bar.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15.png Size: 59 KB
  • #8,344
  • Apr 23, 2013 8:01am Apr 23, 2013 8:01am
Quoting mt2
GbpJpy Not sure if this qualifies. Price rejected RN 151.00, as well as D S1. Entered at break of rejection bar. {image}
Only just seen this, mate. Been away from the computer. Nothing wrong with how you read the potential trade, but going by the MA, you seemed to be possibly trading a pull-back. Anyway, time will tell.
  • #8,345
  • Apr 23, 2013 8:08am Apr 23, 2013 8:08am
It was counter trend, exited at 10 pips loss 150.96. Only entered 1/2 position due to risk. MA as you say were no where close. I liked the rejection as well as a resistance at that level earlier.
  • #8,346
  • Apr 23, 2013 8:15am Apr 23, 2013 8:15am
Quoting mt2
It was counter trend, exited at 10 pips loss 150.96. Only entered 1/2 position due to risk. MA as you say were no where close. I liked the rejection as well as a resistance at that level earlier.
Yes, I understand. However, I never trade counter-trend. My point of view is that this forex thingy is quite complicated enough without making it even harder! Still, as I said before, each to his own. Better luck next time, brother!
  • #8,347
  • Apr 23, 2013 8:27am Apr 23, 2013 8:27am
USD/JPY 5m.

This is a good set-up right on S1, with a falling wedge pattern. Note how price broke out right through a smack-on confluence of the S1 and the 13ema. A nice potential trade, which I unfortunately missed!
Attached Image
  • #8,348
  • Apr 23, 2013 8:49am Apr 23, 2013 8:49am
Quoting eyevoltage
USD/JPY 5m. This is a good set-up right on S1, with a falling wedge pattern. Note how price broke out right through a smack-on confluence of the S1 and the 13ema. A nice potential trade, which I unfortunately missed! {image}
EV, no worries, there will be more to come.
  • #8,349
  • Apr 23, 2013 8:54am Apr 23, 2013 8:54am
USD/JPY 5m again.

I managed to get this one, after the other one that I missed. Price pulled back to the mid-point level to test for support, before carrying on upwards. Entry and exit as shown.

Edit: I was a bit late posting this, but I had a little trouble with the photo facility on MT4.
Attached Image
  • #8,350
  • Apr 23, 2013 9:57am Apr 23, 2013 9:57am
Hi EV,

Referring to the falling wedge you missed, where would you have entered if you'd been around.
  • #8,351
  • Apr 23, 2013 10:17am Apr 23, 2013 10:17am
Quoting mt2
Hi EV, Referring to the falling wedge you missed, where would you have entered if you'd been around.
Just above the white line, mate.
Attached Image
  • #8,352
  • Apr 23, 2013 10:25am Apr 23, 2013 10:25am
Quoting eyevoltage
USD/JPY 5m. This is a good set-up right on S1, with a falling wedge pattern. Note how price broke out right through a smack-on confluence of the S1 and the 13ema. A nice potential trade, which I unfortunately missed! {image}
EV, nice to see you managed 2nd one nicely. The 1st one I would not go long as it is below Main pivot.
  • #8,353
  • Apr 23, 2013 10:51am Apr 23, 2013 10:51am
Quoting snail69
{quote} EV, nice to see you managed 2nd one nicely. The 1st one I would not go long as it is below Main pivot.
I take your point, snail. However, when price is quite some distance from the Main pivot, and the MA's are looking promising, as they were at that time, a long trade is always worth considering. Sometimes, one can end up dismissing it, but otherwise, like this one, IMHO it would definitely be worth a punt.
  • #8,354
  • Apr 23, 2013 11:27pm Apr 23, 2013 11:27pm
Quoting mt2
GbpJpy Not sure if this qualifies. Price rejected RN 151.00, as well as D S1. Entered at break of rejection bar. {image}
Hi Ev,

mt2 that big upper wick rejection bar at that proven support/resistance level, I'd say great trade.
  • #8,355
  • Edited 3:31am Apr 24, 2013 3:15am | Edited 3:31am
Good morning all. After German IFO price dropped fast below daily open line (5 am GMT).

Pullback to MAs and SD level. Will try add price tags but now somehow can not upload new pic. Sorry EV.
Attached Image (click to enlarge)
Click to Enlarge Name: eu ev 4-24.png Size: 40 KB
  • #8,356
  • Apr 24, 2013 3:53am Apr 24, 2013 3:53am
After the consolidation trade eventually developed nicely. Pullback above Daily Open line and long. This time I left pivots on. Exit around R1.
Attached Image (click to enlarge)
Click to Enlarge Name: gu ev 4-24.png Size: 43 KB
  • #8,357
  • Apr 24, 2013 5:06am Apr 24, 2013 5:06am
5m EJ....

A harami formed just above MR1 in the MA zone. Pretty straightforward after that. Entry and exit as indicated.


(Fibonacci pivots used)
Attached Image
  • #8,358
  • Apr 24, 2013 6:03am Apr 24, 2013 6:03am
Quoting eyevoltage
5m EJ.... A harami formed just above MR1 in the MA zone. Pretty straightforward after that. Entry and exit as indicated. (Fibonacci pivots used) {image}

Veru nice EV. Where is your stop placed ?
  • #8,359
  • Apr 24, 2013 6:48am Apr 24, 2013 6:48am
Quoting snail69
{quote} Veru nice EV. Where is your stop placed ?

Just under the MR1, snail.
  • #8,360
  • Apr 24, 2013 8:41am Apr 24, 2013 8:41am
Hi EV,

Would you mind attaching your fib pivot indicator please? I use regular pivots but I'm interested in testing with the fib pivots as well.

Many thanks
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
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