Psych Levels, Pivots, and Trendlines - Resurrected | Page 424 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Adr, psych levels, demand & supply trading 15 replies

Standard Pivots and Fibonnaci Pivots? 9 replies

EUR/USD 5min - Trendlines and Pivots 379 replies

Important psych levels 1 reply

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Attachments: Psych Levels, Pivots, and Trendlines - Resurrected
Exit Attachments

Psych Levels, Pivots, and Trendlines - Resurrected

  • #8,461
  • Jul 5, 2013 7:51am Jul 5, 2013 7:51am
Hardest part is having the patience in waiting for the right setup.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 22 KB
  • #8,462
  • Jul 9, 2013 5:32am Jul 9, 2013 5:32am
Quoting biDc
Hardest part is having the patience in waiting for the right setup. {image}
Nice to see your charts again, biDc.
  • #8,463
  • Jul 10, 2013 1:19am Jul 10, 2013 1:19am
15m GU......

A very distinct bullish flag across the Main Pivot line, followed by a fairly rapid ascent to the midpoint line.
Attached Image
  • #8,464
  • Jul 10, 2013 8:11am Jul 10, 2013 8:11am
15 EU.......

(This time using Fib Pivots.)

Another very impressive bullish flag pattern forming around the main pivot line. SL was set just under said main pivot line. I was aiming for a 1:1 R:R, and price more than obliged!
Attached Image
  • #8,465
  • Jul 10, 2013 8:32am Jul 10, 2013 8:32am
15 EU.......

(This time using Fib Pivots.)

Another very impressive bullish flag pattern forming around the main pivot line. SL was set just under said main pivot line. I was aiming for a 1:1 R:R, and price more than obliged!

Edit: Ignore. For some reason, I accidentally sent it out again!
  • #8,466
  • Jul 10, 2013 10:42am Jul 10, 2013 10:42am
15m EJ.....

Been some good moves today for this method. This one was initiated by the spinning-top and hammer (blue box) forming on MS2. Entry and exit as shown. A fairly routine trade. SL was just under the two candlesticks in the blue box.
Attached Image
  • #8,467
  • Edited 1:38am Jul 11, 2013 1:07am | Edited 1:38am
hi ev,

you charts disclose a great example of:

"once you get it right, do it over and over again..."

i recall you saying once that you don't look at higher timeframes like daily, etc.
you setups are all of m5 and m15. what is the highest timeframe you do look at and how do you use that info in making your trading decision?

cheers.
  • #8,468
  • Jul 11, 2013 1:59am Jul 11, 2013 1:59am
Quoting pgd
hi ev, you charts disclose a great example of: "once you get it right, do it over and over again..." i recall you saying once that you don't look at higher timeframes like daily, etc. you setups are all of m5 and m15. what is the highest timeframe you do look at and how do you use that info in making your trading decision? cheers.

Hi, pg, and good to see you on here again.


In the morning, before I do anything else, I'll have a quick look at the 1h and 4h for each of my pairs just to get a "feeling" for what might occur during the day. When one is trading short TF's, it seems pointless to go any higher than 4h, IMHO.

Hope that helps, brother.
  • #8,469
  • Jul 11, 2013 3:08am Jul 11, 2013 3:08am
Quoting eyevoltage
{quote} Hi, pg, and good to see you on here again. In the morning, before I do anything else, I'll have a quick look at the 1h and 4h for each of my pairs just to get a "feeling" for what might occur during the day. When one is trading short TF's, it seems pointless to go any higher than 4h, IMHO. Hope that helps, brother.

yes and no...

need something more specific on the "feeling" aspect because at times i've seen you take trades both ways one after the other. one of them would necessarily be against the h1/h4 trend...
  • #8,470
  • Jul 11, 2013 4:21am Jul 11, 2013 4:21am
Quoting pgd
{quote} yes and no... need something more specific on the "feeling" aspect because at times i've seen you take trades both ways one after the other. one of them would necessarily be against the h1/h4 trend...

..........which probably explains why you need more on the "feeling" aspect from me!! Sorry, mate, but I couldn't possibly offer you a nailed-down analysis of my higher TF perusals. I'm just not that clever! Usually, it's just a glance and nothing more.

If I'm trading off a 5m chart, then that's 12 candles compared to 1 on the 1h, and 48 candles compared to 1 on the 4h. When you take into account the fact that most of my trades on 5m and 15m charts don't usually last very long in this method, what's happening up there in the hourly and 4 hourly doesn't really matter to me. Up there, it's a totally different ball-game, as our US cousins would say.

Sorry I couldn't be more helpful, brother.
  • #8,471
  • Jul 11, 2013 7:13am Jul 11, 2013 7:13am
15m EJ.......

A nice retrace to the mid-point level, followed by a Harami candle, and forming a tweezer-top. Entry and exit as shown.
Attached Image
  • #8,472
  • Jul 11, 2013 8:34am Jul 11, 2013 8:34am
Quoting eyevoltage
15m EJ....... A nice retrace to the mid-point level, followed by a Harami candle, and forming a tweezer-top. Entry and exit as shown. {image}

Nice one, ev.

today's open (129.34) also lies in the harami area.
so, nice area to launch the trade from...

i see you entered below the baby candle.
i recall you once telling me that harami entries should be when the mother candle is taken out.
any reason for the making an exception?
  • #8,473
  • Jul 11, 2013 9:34am Jul 11, 2013 9:34am
Quoting pgd
{quote} Nice one, ev. today's open (129.34) also lies in the harami area. so, nice area to launch the trade from... i see you entered below the baby candle. i recall you once telling me that harami entries should be when the mother candle is taken out. any reason for the making an exception?

You're absolutely right, pg. I remember telling you that, and the only excuse I have regarding this particular situation was pure impatience!! Having said that, I was fairly confident that price would move down anyway, seeing as it was resulting from a high-probability signal.
  • #8,474
  • Jul 11, 2013 9:58am Jul 11, 2013 9:58am
Quoting eyevoltage
{quote} You're absolutely right, pg. I remember telling you that, and the only excuse I have regarding this particular situation was pure impatience!! Having said that, I was fairly confident that price would move down anyway, seeing as it was resulting from a high-probability signal.

... and, of course, a few extra pips are always welcome
  • #8,475
  • Jul 11, 2013 11:04am Jul 11, 2013 11:04am
Quoting pgd
{quote} ... and, of course, a few extra pips are always welcome

Oh, absolutely!! Couldn't agree more!
  • #8,476
  • Jul 12, 2013 7:08am Jul 12, 2013 7:08am
Nice to see action again here....

Today UJ was up and then down. At first a little pullback after went back above DO line, second entry after harmonic pattern right at DO line - exit at R1.

After new long entry but failed catch R2 top.

Then waited for reversal, harami up there at R2, and followed UJ down to DO line and pivot.

Nice weekend to all !
Attached Image (click to enlarge)
Click to Enlarge Name: uj ev 7-12.png Size: 45 KB
  • #8,477
  • Edited 8:54am Jul 12, 2013 7:32am | Edited 8:54am
GU - M5 - short

consolidation across the main pivot line formed a wedge going right into the ma zone.
the breakdown provided a nice short into resumption of the down move.

entry : 1.5123 (marked)
exit : 1.5085 (support area coming from somewhere in the past -- green band)
Attached Image (click to enlarge)
Click to Enlarge Name: gu_m5_20130712.jpg Size: 90 KB
  • #8,478
  • Jul 15, 2013 1:23am Jul 15, 2013 1:23am
Good to see some charts from snail and pg. Keep 'em coming, guys!
  • #8,479
  • Jul 15, 2013 2:47am Jul 15, 2013 2:47am
yours will be done, ev!

here's another:

GBPAUD - m5 - SHORT

price pulled back to mS1 during FH
a bearish harami (in blue rectangle) formed right across mS1 soon after LO.

Entry: 1.6590 (when the pattern was taken out).
Exit : 1.6533 (past S1).

Note:
if placed in advance, exit order would have been at S1.
however, as it was manually monitored, the momentum gave some extra pips past S1.
Attached Image (click to enlarge)
Click to Enlarge Name: ga_m5_20130715.jpg Size: 69 KB
  • #8,480
  • Jul 15, 2013 3:06am Jul 15, 2013 3:06am
Quoting snail69
Nice to see action again here.... Today UJ was up and then down. At first a little pullback after went back above DO line, second entry after harmonic pattern right at DO line - exit at R1. After new long entry but failed catch R2 top. Then waited for reversal, harami up there at R2, and followed UJ down to DO line and pivot. Nice weekend to all ! {image}
hey snail!

what's the 'DO' line you mentioned?

thanks.
1 trader viewing now