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Psych Levels, Pivots, and Trendlines - Resurrected

  • #8,381
  • Apr 27, 2013 11:18pm Apr 27, 2013 11:18pm
Quoting pgd
{quote} hi snail, was wondering why your exit was not earlier near S3 which also fell in your ma-zone. that would have been the expected bounce area for a downward continuation, which actually did happen for about 15 pips (the long lower wick of the long green candle). do throw some light. cheers. Edit: ev, any comments?
PGD, it is because of the supply and demand area above as well as you can see fib retracement levels indicate exit. It worked out almost to the pip.
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  • #8,382
  • Edited 9:50pm Apr 28, 2013 9:10pm | Edited 9:50pm
Late to the party ! 2x ABCD trade.
Attached Image (click to enlarge)
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  • #8,383
  • Apr 29, 2013 2:23am Apr 29, 2013 2:23am
Trade long on UJ after reverse pattern on round number level 97.500. Target SD area above.
Attached Image (click to enlarge)
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  • #8,384
  • Apr 30, 2013 4:38am Apr 30, 2013 4:38am
Same set up again UJ after pullback short.
Attached Image (click to enlarge)
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  • #8,385
  • Apr 30, 2013 5:00am Apr 30, 2013 5:00am
5m EJ.......

A consolidation along the 13ema culminating in a shooting star/spinning-top led to this trade. Entry and exit as shown.


By the way, snail, nice trading!
Attached Image
  • #8,386
  • Apr 30, 2013 5:22am Apr 30, 2013 5:22am
Quoting eyevoltage
5m EJ....... A consolidation along the 13ema culminating in a shooting star/spinning-top led to this trade. Entry and exit as shown. By the way, snail, nice trading! {image}
Thanks EV. You took nice cd part of abcd trade.
  • #8,387
  • Edited 9:50am Apr 30, 2013 9:37am | Edited 9:50am
EJ long - M5

price rises from S1 (blue line at the bottom of the image)
hits mS1 and retraces making a higher low.
rises back to mS1.
a one bar reaction at mS1 (white circle) then a break out.

entry: 127.60 (as marked)
exit1 : 127.85 (near main pivot - thick yellow)
exit2 : 128.22 (at marked SR-zone)

Attached Image (click to enlarge)
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Edit :
This may also be viewed as a bull flag b/o (see image below).

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  • #8,388
  • Edited 11:19am Apr 30, 2013 10:25am | Edited 11:19am
EU long - M5

Another goodie:

price does extended consolidation below pivot (thick yellow).
price breaks out and closes above pivot.

entry : 1.3088 (as marked)
exit1 : 1. 3130 (near R1)

S/L trailed below each long bar and currently at 1.3160

Edit

exit2 : stopped out at 1.3160
Attached Image (click to enlarge)
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  • #8,389
  • Apr 30, 2013 10:33am Apr 30, 2013 10:33am
Nice trading, pg, and good to see you contributing after so long. I've only been on nodding terms with the computer all day, mate, so only the one trade earlier. Seems you managed to jump in just as price decided to cause a bit of excitement!! Well done, brother!
  • #8,390
  • Apr 30, 2013 10:50am Apr 30, 2013 10:50am
Quoting eyevoltage
Nice trading, pg, and good to see you contributing after so long. I've only been on nodding terms with the computer all day, mate, so only the one trade earlier. Seems you managed to jump in just as price decided to cause a bit of excitement!! Well done, brother!
Thanks, ev.

saw your EJ trade. nice one.
my EJ came upon the reversal that followed.

the EU was quite rewarding.
the s/l is not yet hit so it's still running for the 2nd exit.
  • #8,391
  • Apr 30, 2013 9:53pm Apr 30, 2013 9:53pm
PGD, great that you got that EU trade. I made 2 mistakes on it yesterday.

1) did not pull trigger on earlier pullback in ABCD trade with engulfing.

2) did not pull trigger after spotting 2 haramis within a triangle and after that close above previous peak (yellow line) and then pivot magneta.
Attached Image (click to enlarge)
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  • #8,392
  • Apr 30, 2013 9:59pm Apr 30, 2013 9:59pm
This is quite regular happening. 8 am Tokyo time (on chart 19:00 EST)
Attached Image (click to enlarge)
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  • #8,393
  • May 1, 2013 1:00am May 1, 2013 1:00am
Quoting snail69
PGD, great that you got that EU trade. I made 2 mistakes on it yesterday. 1) did not pull trigger on earlier pullback in ABCD trade with engulfing. 2) did not pull trigger after spotting 2 haramis within a triangle and after that close above previous peak (yellow line) and then pivot magneta. {image}
it happens, brother.
look at the bright side...
what could be worse is pulling the trigger in the opposite direction.

Quoting snail69
This is quite regular happening. 8 am Tokyo time (on chart 19:00 EST)
interesting!
thanks for sharing.
  • #8,394
  • May 1, 2013 3:17am May 1, 2013 3:17am
Today EU long after London Open pullback then engulfing. Exit at R1.
Attached Image (click to enlarge)
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  • #8,395
  • May 1, 2013 3:35am May 1, 2013 3:35am
GU after flag and reverse pattern earlier around DO line. Exit at MR2. This RR is really nice.
Attached Image (click to enlarge)
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  • #8,396
  • May 1, 2013 6:03am May 1, 2013 6:03am
snail,

EU, GU both nice ones, GU a real runner.
got them too.
  • #8,397
  • May 1, 2013 6:22am May 1, 2013 6:22am
5m EU......

Some good trading from snail earlier. Well done, mate!!

This one was after a bullish flag breakout, with the 34ema acting as support a couple of times before the said breakout. Entry and exit as shown.
Attached Image
  • #8,398
  • May 1, 2013 7:21am May 1, 2013 7:21am
5m usd/jpy......

A good retracement to the Main Pivot line, which formed a confluence inside the MA zone. A lovely bearish engulfing candle followed, which led to the impressive drop! Entry and exit as shown.


Edit: Seems I got out too early!! Oh well......
Attached Image
  • #8,399
  • May 1, 2013 7:31am May 1, 2013 7:31am
Quoting eyevoltage
5m usd/jpy...... A good retracement to the Main Pivot line, which formed a confluence inside the MA zone. A lovely bearish engulfing candle followed, which led to the impressive drop! Entry and exit as shown. Edit: Seems I got out too early!! Oh well...... {image}
LOL almost the same entry EV here. Exit a bit above S1. Not all are winners as the trade before shows but winners are bigger.
Attached Image (click to enlarge)
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  • #8,400
  • May 1, 2013 7:42am May 1, 2013 7:42am
Quoting snail69
{quote} LOL almost the same entry EV here. Exit a bit above S1. Not all are winners as the trade before shows but winners are bigger. {image}
I'm not surprised you got it as well, snail. It was such an obvious heads-up with that great retrace and the bearish engulfing candle!! Wish they came along a bit more often!
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