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Psych Levels, Pivots, and Trendlines - Resurrected

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  • Post #8,501
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  • Aug 6, 2013 3:35pm Aug 6, 2013 3:35pm
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
Quoting eyevoltage
Disliked
15m EU....... After a short period of consolidation along the main pivot line, price started moving north. The MA's were starting to spread and move up, which was a promising indication, so I entered as shown. SL was placed under the MA's. {image}
Ignored
I spotted this one today also, just starting to trade this style, never took it though just looking for setups while I move brokers. I'm encouraged that you posted the same thing as I know you have tremendous experience. I will be looking at the charts each day and trying to spot potential setups until I get moved. Will post some charts before and after if I get the chance. Looks like there is at least a couple of setups a day across the majors?
Economists have forecast 9 out of the last 5 recessions
 
 
  • Post #8,502
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  • Aug 6, 2013 4:42pm Aug 6, 2013 4:42pm
  •  snail69
  • Joined Jan 2010 | Status: Member | 2,020 Posts
Quoting eyevoltage
Disliked
15m EU....... After a short period of consolidation along the main pivot line, price started moving north. The MA's were starting to spread and move up, which was a promising indication, so I entered as shown. SL was placed under the MA's. {image}
Ignored
Very nice EV.

My pivots are aligned differently, so potential entry might be in marked area. I am not trading these days but often check charts and thread.

Will be back actively soon.
Attached Image (click to enlarge)
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Size: 40 KB
 
 
  • Post #8,503
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  • Aug 7, 2013 4:09am Aug 7, 2013 4:09am
  •  eyevoltage
  • Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Markmm, welcome to the thread. I look forward to your contributions, as and when.

Snail, good to hear from you again. Take your time, mate, and come back soon.

 
 
  • Post #8,504
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  • Aug 7, 2013 4:21am Aug 7, 2013 4:21am
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
On GBPUSD a nice BUOB forming at psych and mid point, worth a long at top up to lows for a quick few pips.
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Name: 07-08-2013-Cable BUOB.PNG
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Economists have forecast 9 out of the last 5 recessions
 
 
  • Post #8,505
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  • Aug 7, 2013 4:34am Aug 7, 2013 4:34am
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
Drop down through pivot then bounce off mid point, potential short to S1.
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Economists have forecast 9 out of the last 5 recessions
 
 
  • Post #8,506
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  • Aug 7, 2013 5:01am Aug 7, 2013 5:01am
  •  eyevoltage
  • Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Thanks for the charts, markmm. You'll have to forgive me, but I'm not as comfortable with bar-charts as you obviously are. What does BUOB indicate, for example? Also, could you get on MT4 properties and tick your "Show OHLC" box? That way, we can see at a glance your time frame and currency pair in the top left corner.
Thanks in advance, markmm.
 
 
  • Post #8,507
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  • Aug 7, 2013 5:04am Aug 7, 2013 5:04am
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
Quoting markmm
Disliked
On GBPUSD a nice BUOB forming at psych and mid point, worth a long at top up to lows for a quick few pips. {image}
Ignored
Realised we are under the pivot so looking for shorts, the I would reinterpret that as a bounce of 1.5300 psych. Looking for a short below low of the BUOB to next midpoint. I am not trading these just getting into the practice of spotting setups.
Economists have forecast 9 out of the last 5 recessions
 
 
  • Post #8,508
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  • Aug 7, 2013 5:13am Aug 7, 2013 5:13am
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
Quoting eyevoltage
Disliked
Thanks for the charts, markmm. You'll have to forgive me, but I'm not as comfortable with bar-charts as you obviously are. What does BUOB indicate, for example? Also, could you get on MT4 properties and tick your "Show OHLC" box? That way, we can see at a glance your time frame and currency pair in the top left corner. Thanks in advance, markmm.
Ignored
Hi EV,

I learned price action from the J16 thread/private forum so I am kinda used to bars. A BUOB is a bullish outside bar which is similar to engulfing but you just look for the low and high to engulf the low and high of previous bar and you also want the close to be above the high of the previous bar and near the high of the bar. I will include the Pair and TF from now on, I had used a clipping tool and not included that, probably better to just use MT4s chart saving functions.

Regards

Mar
Economists have forecast 9 out of the last 5 recessions
 
 
  • Post #8,509
  • Quote
  • Aug 7, 2013 5:21am Aug 7, 2013 5:21am
  •  eyevoltage
  • Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Quoting markmm
Disliked
{quote} Hi EV, I learned price action from the J16 thread/private forum so I am kinda used to bars. A BUOB is a bullish outside bar which is similar to engulfing but you just look for the low and high to engulf the low and high of previous bar and you also want the close to be above the high of the previous bar and near the high of the bar. I will include the Pair and TF from now on, I had used a clipping tool and not included that, probably better to just use MT4s chart saving functions. Regards Mar
Ignored

Thanks for the info, mate. I had an idea that you'd been a devotee of the J16 thread! Bar charts are all Greek to me, markmm. I find candlesticks far easier to interpret, so I guess we'll have to muddle along as best we can!! Purely out of interest, which Pivot indicator are you using?
 
 
  • Post #8,510
  • Quote
  • Aug 7, 2013 5:30am Aug 7, 2013 5:30am
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
Quoting eyevoltage
Disliked
{quote} Thanks for the info, mate. I had an idea that you'd been a devotee of the J16 thread! Bar charts are all Greek to me, markmm. I find candlesticks far easier to interpret, so I guess we'll have to muddle along as best we can!! Purely out of interest, which Pivot indicator are you using?
Ignored
I can use candlesticks as well, I will post charts with them as it seems most people use them here My pivot point indicators are based on ones posted by hanover, however I have added some bells and whistles (price labels) as I am a coder by day. I have the set to NY close. I also have a session indicator that shows London open/close and a psych indicator that shows 00's, 50's and fainter 20's and 80's, and a indicator that shows news for that pair coming up. If anyone wants these let me now an I will post them. The news one is a bit more complicated as part of it runs as a windows service, that pulls the calendar from rss feed each day.

Regards

Mark
Economists have forecast 9 out of the last 5 recessions
 
 
  • Post #8,511
  • Quote
  • Aug 7, 2013 5:38am Aug 7, 2013 5:38am
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
Quoting markmm
Disliked
{quote} Realised we are under the pivot so looking for shorts, the I would reinterpret that as a bounce of 1.5300 psych. Looking for a short below low of the BUOB to next midpoint. I am not trading these just getting into the practice of spotting setups.
Ignored
Look's like Carney spoke and it spiked price down, wouldn't have traded so close to high impact news, even though it would have been a big winner, could have easily went the other way.
Economists have forecast 9 out of the last 5 recessions
 
 
  • Post #8,512
  • Quote
  • Aug 7, 2013 6:10am Aug 7, 2013 6:10am
  •  eyevoltage
  • Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Quoting markmm
Disliked
{quote} I can use candlesticks as well, I will post charts with them as it seems most people use them here My pivot point indicators are based on ones posted by hanover, however I have added some bells and whistles (price labels) as I am a coder by day. I have the set to NY close. I also have a session indicator that shows London open/close and a psych indicator that shows 00's, 50's and fainter 20's and 80's, and a indicator that shows news for that pair coming up. If anyone wants these let me now an I will post them. The news one is a bit more...
Ignored

Thanks, markmm. That's very good of you to use the candle charts. Much appreciated, and I would also appreciate it if you could post your "custom-made" pivot indicator and the psych indicator as well. I guess being a "coder" can come in pretty handy from time to time!!
 
 
  • Post #8,513
  • Quote
  • Aug 7, 2013 6:41am Aug 7, 2013 6:41am
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
Quoting eyevoltage
Disliked
{quote} Thanks, markmm. That's very good of you to use the candle charts. Much appreciated, and I would also appreciate it if you could post your "custom-made" pivot indicator and the psych indicator as well. I guess being a "coder" can come in pretty handy from time to time!!
Ignored

No problem EV. This is a excellent method and the 15 min TF is perfect not to short not to long for me. Thanks to Acumen for sharing it and yourself for carrying the torch.

Wanted to ask if anyone knows what happened to Acumen he doesn't seem to post anymore? Also wanted to ask, do you expect to see 1 or two setups a day across the 2 main pairs?

Regards

Mark
Attached File(s)
File Type: mq4 MarksMidPivots.mq4   14 KB | 408 downloads
File Type: mq4 MarksPivots.mq4   14 KB | 438 downloads
File Type: mq4 PsychLines.mq4   3 KB | 606 downloads
Economists have forecast 9 out of the last 5 recessions
 
 
  • Post #8,514
  • Quote
  • Aug 7, 2013 7:54am Aug 7, 2013 7:54am
  •  eyevoltage
  • Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Quoting markmm
Disliked
{quote} No problem EV. This is a excellent method and the 15 min TF is perfect not to short not to long for me. Thanks to Acumen for sharing it and yourself for carrying the torch. Wanted to ask if anyone knows what happened to Acumen he doesn't seem to post anymore? Also wanted to ask, do you expect to see 1 or two setups a day across the 2 main pairs? Regards Mark {file} {file} {file}
Ignored
Thanks very much for the indicators, Mark. I always like to play around with pivot and psych indicators that I haven't seen before!
You're right about this method that Acumen gave us. Like any other method, it has its ups and downs (excuse the pun), but the set-ups are varied and numerous, so one isn't just stuck looking for the ONE move that will enable a trade!
From what I've heard on this forum, Acumen no longer frequents it. In fact, I'm sure that I read somewhere that he's also totally given up trading!! It would be nice to see him back again, but it doesn't look likely, I'm afraid.
By two main pairs, I take it you're referring to GU and EU? I actually monitor 6 pairs, Mark, and there are days, I'm afraid, when every one of them let me down! However, I'm not always at the computer (other commitments), so I sometimes miss opportunities that crop up whilst I'm away. I've never actually done an analysis of a set-up average, and to be honest, I don't think I want to! I just take them when they come, Mark! Suffice to say, with the varied set-ups within this method, they seem to crop up an a "semi-regular" basis, shall we say?
Thanks again for the indys, mate.
 
 
  • Post #8,515
  • Quote
  • Aug 7, 2013 9:47am Aug 7, 2013 9:47am
  •  eyevoltage
  • Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m NZD/USD

A break of a long TL starting at around 6.00pm last evening. Entry and exit as shown. SL just under the MA's. R:R roughly 1:1.
Attached Image (click to enlarge)
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Name: nzdusd0016.png
Size: 40 KB
 
 
  • Post #8,516
  • Quote
  • Aug 8, 2013 2:46am Aug 8, 2013 2:46am
  •  don555
  • | Joined Apr 2010 | Status: Member | 388 Posts
Do any of you guys on here trade nymex oil on a 15min chart if you dont to date do you mind me introducing it on to this thread.
The main points are a midnight close when it comes back to this level and a lot of times divergence kicks in and it makes it possible to make anything from 40-140 pips.
If I should be on another thread please let me know.
 
 
  • Post #8,517
  • Quote
  • Aug 8, 2013 3:46am Aug 8, 2013 3:46am
  •  eyevoltage
  • Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Quoting don555
Disliked
Do any of you guys on here trade nymex oil on a 15min chart if you dont to date do you mind me introducing it on to this thread. The main points are a midnight close when it comes back to this level and a lot of times divergence kicks in and it makes it possible to make anything from 40-140 pips. If I should be on another thread please let me know.
Ignored

Hello don.

As long as you're using pivots/psychs/TL's, then you're welcome, mate. I really don't know if there's a thread on here that's exclusively about oil, but perhaps someone else can enlighten us.
 
 
  • Post #8,518
  • Quote
  • Aug 8, 2013 4:01am Aug 8, 2013 4:01am
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
Looking at cable today after the huge move up on news during Asian session price has formed a small range, on 4hr. On 15 mins price has dropped below MA's. Could it break down to head back to 1.5450 towards pivot or break the high at 1.5530 and head to 1.5550, hopefully some price action will give us a clue?
Attached Image(s) (click to enlarge)
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Name: gbpusdh4.png
Size: 30 KB
Click to Enlarge

Name: gbpusdm15.png
Size: 27 KB
Economists have forecast 9 out of the last 5 recessions
 
 
  • Post #8,519
  • Quote
  • Aug 8, 2013 4:08am Aug 8, 2013 4:08am
  •  eyevoltage
  • Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Quoting markmm
Disliked
Looking at cable today after the huge move up on news during Asian session price has formed a small range, on 4hr. On 15 mins price has dropped below MA's. Could it break down to head back to 1.5450 towards pivot or break the high at 1.5530 and head to 1.5550, hopefully some price action will give us a clue? {image} {image}
Ignored

It certainly looks like a lottery on GU at the moment, mark. One of those where it's best to sit on your hands until there's SOME kind of movement!
 
 
  • Post #8,520
  • Quote
  • Aug 8, 2013 4:21am Aug 8, 2013 4:21am
  •  markmm
  • | Joined Feb 2009 | Status: Price Stalker | 1,197 Posts
Quoting eyevoltage
Disliked
{quote} It certainly looks like a lottery on GU at the moment, mark. One of those where it's best to sit on your hands until there's SOME kind of movement!
Ignored
Yes I agree EV, why gamble when price will show it's hand at some point.
Economists have forecast 9 out of the last 5 recessions
 
 
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  • Psych Levels, Pivots, and Trendlines - Resurrected
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