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Psych Levels, Pivots, and Trendlines - Resurrected

  • #8,421
  • May 8, 2013 8:42am May 8, 2013 8:42am
Quoting pgd
hey ev ! see anything?
Hi pg.

I'm just on nodding terms with the computer today, mate. Seem to have been busy all day so far. At around 1325, there was a move up on EU, which would have netted around 30 pips or so, but I wasn't there at the time. Sod's law.
  • #8,422
  • May 8, 2013 9:05am May 8, 2013 9:05am
EU long - M5

bull flag b/o.
entry : above mR2 as marked.
exit1 : as marked after a doji and a s/s formed near mR3.
s/l : 1.3160 as marked.

edit:

exit2 :

oops!

I hadn't noticed the rsi divergence that formed at that double top.
so, i am out now before i get stopped out.
Attached Image (click to enlarge)
Click to Enlarge Name: eu_long_20130508.gif Size: 30 KB
  • #8,423
  • May 8, 2013 9:35am May 8, 2013 9:35am
Quoting pgd
EU long - M5 bull flag b/o. entry : above mR2 as marked. exit1 : as marked after a doji and a s/s formed near mR3. s/l : 1.3160 as marked. edit: exit2 : oops! I hadn't noticed the rsi divergence that formed at that double top. so, i am out now before i get stopped out. {image}
Nice trade, pg. Remind me.....what is s/s?
  • #8,424
  • Edited 10:16am May 8, 2013 9:41am | Edited 10:16am
Quoting eyevoltage
{quote} Nice trade, pg. Remind me.....what is s/s?
shooting star.

however, doji would have been more appropriate.
  • #8,425
  • Edited 10:30pm May 13, 2013 8:44pm | Edited 10:30pm
PGD, same story again... this morning Asia
Attached Image (click to enlarge)
Click to Enlarge Name: uj ev 5-14.png Size: 40 KB
  • #8,426
  • May 13, 2013 10:34pm May 13, 2013 10:34pm
Yesterday later in US session. Pullback to EMAs, harami and then short 3M (multiple) trade. Target price 4M was met as well but was almost midnight here and my dear half asked to turn lights off.
Attached Image (click to enlarge)
Click to Enlarge Name: gu ev 5-13.png Size: 40 KB
  • #8,427
  • May 14, 2013 8:01am May 14, 2013 8:01am
What a day... Short after bounce off Daily Open line and close below EMAs, exit around S2.
Attached Image (click to enlarge)
Click to Enlarge Name: gu ev 5-14.png Size: 44 KB
  • #8,428
  • May 14, 2013 8:02am May 14, 2013 8:02am
Nice trades, snail. Been a bit quiet on here lately.
  • #8,429
  • May 30, 2013 7:08am May 30, 2013 7:08am
Hi all - good to see the thread is still going strong!

I'm in the fortunate position to have six weeks off before I start a new job-I'll be posting some trend line trades hopefully starting tomorrow.

Looking at today I see there was a nice head and shoulders break about an hour ago on the EUR/USD , hope somebody bagged some pips.
  • #8,430
  • May 31, 2013 3:36am May 31, 2013 3:36am
Quoting mysterio
Hi all - good to see the thread is still going strong! I'm in the fortunate position to have six weeks off before I start a new job-I'll be posting some trend line trades hopefully starting tomorrow. Looking at today I see there was a nice head and shoulders break about an hour ago on the EUR/USD , hope somebody bagged some pips.

Hey Mysterio!! Great to see you back, brother, and congrats on your new job. As you can see, there's not much happening on this thread lately. People drop by and then disappear into cyber space, never to be seen again!!
Take care, mate.
  • #8,431
  • May 31, 2013 3:42am May 31, 2013 3:42am
Thanks EV, could to see the 'old guard' keeping the thread alive!

I see a bullish flag forming on Eur/Usd. You would 'expect' this to break upwards at some point to at least R1/yesterday's high before continuing, as usual wait and see!

http://i288.photobucket.com/albums/l.../flagmay31.jpg
  • #8,432
  • May 31, 2013 9:06am May 31, 2013 9:06am
Well that didn't materialise! I'm in a short here on the triangle break, moved stop to breakeven on touch of S1...

http://charts.mql5.com/1/689/eurusd-...l-services.png
  • #8,433
  • Jun 3, 2013 3:42am Jun 3, 2013 3:42am
Good to see you back on, Mysterio! I was busy on Friday, and I've only just seen your charts. The familiar trend-line approach, mate!! Great stuff.

Below is a 15m usdjpy chart showing a retrace to the mid-point line where a shooting star candle formed. Entry and exit as indicated.
Attached Image
  • #8,434
  • Edited 6:29am Jun 3, 2013 6:00am | Edited 6:29am
Here's how I see it this morning.

Had a break which didn't hold and went up to R1. I actually got stopped here and lost some pips.

Then we have a nice H&S pattern forming which breaks and give some movement - however it moving towards another trend line which provides some support on the 15m chart. Risky so I have my stop set to break-even and we'll see if there's enough momentum to reach the daily pivot.

http://i288.photobucket.com/albums/l...eurusdjune.jpg

Edit: Well it did drop to the pivot-but not before taking out my break-even stop because of the 15m trendline.
  • #8,435
  • Edited 3:40am Jun 4, 2013 1:08am | Edited 3:40am
If it breaks we're heading up...

http://i288.photobucket.com/albums/l...s/eurusdm5.png

Update: I closed around GBP news and just before a resistance level. I had my stop to break even after the initial break touched the daily opening price but relaxed it when it looked like we were coming down for a re-test. Of course that should say 'stop below support' on the chart

http://i288.photobucket.com/albums/l...eurusdm5-1.png
  • #8,436
  • Jun 4, 2013 4:41am Jun 4, 2013 4:41am
Quoting mysterio
If it breaks we're heading up... {image} Update: I closed around GBP news and just before a resistance level. I had my stop to break even after the initial break touched the daily opening price but relaxed it when it looked like we were coming down for a re-test. Of course that should say 'stop below support' on the chart {image}

Nice job, Mysterio! You definitely haven't lost your touch, brother!
  • #8,437
  • Jun 4, 2013 4:51am Jun 4, 2013 4:51am
Thanks EV I was quite pleased with that one!!

It's a beautiful sunny day- really want to get outside but I see another set-up cooking on Eur/Usd - will give it an hour! How's it looking down where you are?
  • #8,438
  • Jun 4, 2013 5:30am Jun 4, 2013 5:30am
Quoting mysterio
Thanks EV I was quite pleased with that one!! It's a beautiful sunny day- really want to get outside but I see another set-up cooking on Eur/Usd - will give it an hour! How's it looking down where you are?

Weather's beautiful here in West Cumbria. Blue skies, warm sunshine and not a breath of wind. Incredible after the lousy spring we had. I need to get outside as well, because my hedges are badly in need of a trimming!!
  • #8,439
  • Jun 4, 2013 6:08am Jun 4, 2013 6:08am
Hi guys.

Managed today one EU trade. Entry as usually after pullback above DO (daily open line). Exit as indicated (2RR) at 127 % because of Bearish Butterfly .

It might go to 3100, but it is enough and home....
Attached Image (click to enlarge)
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  • #8,440
  • Jun 4, 2013 6:32am Jun 4, 2013 6:32am
Quoting snail69
Hi guys. Managed today one EU trade. Entry as usually after pullback above DO (daily open line). Exit as indicated (2RR) at 127 % because of Bearish Butterfly . It might go to 3100, but it is enough and home.... {image}

Good to see you back, snail. And a nice trade as well!!
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