Psych Levels, Pivots, and Trendlines - Resurrected | Page 439 | 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

  • #8,761
  • Oct 24, 2013 8:46am Oct 24, 2013 8:46am
Noticing that Shooting Star or Hammer Formation( PB Formations ) from 34 EMA are working great. Yesterday also noticed one such setup.
Following 2 setups formed today.. Potential to give Reward of 1R to 1.5R

MA with good wide gap
Retracement to 34 EMA
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD_5_Min_24_OCT_1.png Size: 20 KB
Click to Enlarge Name: EURUSD_5_Min_24_OCT_4.png Size: 20 KB
  • #8,762
  • Oct 25, 2013 5:04am Oct 25, 2013 5:04am
UJ 5 min Tokyo morning. Pullback to Do line and slower EMA. Entry under IB ( inside bar - harami). Exit based on 1H SD level. Need to switch timeframe to see it.
Attached Image (click to enlarge)
Click to Enlarge Name: ev post.png Size: 95 KB
  • #8,763
  • Oct 25, 2013 6:33am Oct 25, 2013 6:33am
Quoting snail69
UJ 5 min Tokyo morning. Pullback to Do line and slower EMA. Entry under IB ( inside bar - harami). Exit based on 1H SD level. Need to switch timeframe to see it. {image}
Nice Trade Snail .. Quick Movement...
  • #8,764
  • Oct 25, 2013 7:09am Oct 25, 2013 7:09am
EU 5 min - potential beautiful set up. Did not take it. Was trying something on other thread. Entry after pullback to DO line, then harami. Exit at 1H SD line.
Attached Image (click to enlarge)
Click to Enlarge Name: ev post.png Size: 85 KB
  • #8,765
  • Oct 28, 2013 4:19am Oct 28, 2013 4:19am
1st Trade of the Day for few pips..

Double Bottom Formation
Price Close above Central Pivot Line
Retraced to Central Pivot Line
MA Cross Over in Beginning Phase
Trade taken when price started moving Up.
TP at Days High and slightly above MR1
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_5_Min_28_OCT_1.png Size: 29 KB
  • #8,766
  • Oct 28, 2013 4:49am Oct 28, 2013 4:49am
Quoting JPraveen
1st Trade of the Day for few pips.. Double Bottom Formation Price Close above Central Pivot Line Retraced to Central Pivot Line MA Cross Over in Beginning Phase Trade taken when price started moving Up. TP at Days High and slightly above MR1 {image}

Nice trade, JP, and clear explanation as well!
  • #8,767
  • Oct 28, 2013 7:44am Oct 28, 2013 7:44am
15m GU..............

A dramatic drop from MR1 down through the MA zone and then the Main Pivot line. Bearish candles all the way. Entry and exit as shown.
Attached Image
  • #8,768
  • Oct 28, 2013 9:02am Oct 28, 2013 9:02am
Picked Up Trade for GU at the very beginning but closed it that early itself (encircled in Yellow).. don't know exactly why
Never thought that Downward move can be so huge..

Formation of Bearish Engulfing Candle => Probable CT movement can happen. Consistent Resistance Observed at MR1
Consolidation happening inside Mother Candle
Was looking for Breakout in Up Or Down and take trade accordingly
Breakout Happened in Down Direction and Sell Trade was taken..
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_5_Min_28_OCT_1.png Size: 27 KB
  • #8,769
  • Oct 28, 2013 9:14am Oct 28, 2013 9:14am
Quoting JPraveen
Picked Up Trade for GU at the very beginning but closed it that early itself (encircled in Yellow).. don't know exactly why Never thought that Downward move can be so huge.. Formation of Bearish Engulfing Candle => Probable CT movement can happen. Consistent Resistance Observed at MR1 Consolidation happening inside Mother Candle Was looking for Breakout in Up Or Down and take trade accordingly Breakout Happened in Down Direction and Sell Trade was taken.. {image}
JP, suggestion. FPV served as SR level. To have more confidence would be good to trade short after bounce of FPV.
  • #8,770
  • Oct 28, 2013 9:25am Oct 28, 2013 9:25am
Quoting snail69
{quote} JP, suggestion. FPV served as SR level. To have more confidence would be good to trade short after bounce of FPV.
I see.. Thanks for drawing attention to this..
  • #8,771
  • Oct 28, 2013 9:51am Oct 28, 2013 9:51am
great thread! keep it coming guys!
consistency wins
  • #8,772
  • Oct 28, 2013 10:30am Oct 28, 2013 10:30am
Quoting iTrader
great thread! keep it coming guys!

Thanks, iTrader. Feel free to jump in any time
  • #8,773
  • Oct 28, 2013 10:54am Oct 28, 2013 10:54am
15m GU............

Carrying on from the last chart posting, price carried on down through the mid-level, and then retraced back up to into the MA zone, just above the mid-level. A question then of waiting for some sort of signal or pattern that would indicate a possible further drop. The blue rectangle reveals a small shooting-star, which was a great start, and then it was another short wait until the right moment to enter came along. Entry and exit as shown.
Attached Image
  • #8,774
  • Oct 28, 2013 3:51pm Oct 28, 2013 3:51pm
GU 15min
Took this CT trade earlier good for 20 pips.
Pinbar rejecting Support Zone/Line/S1 6110-25 - first blue arrow
Waited for a clear bull move for confirmation - second arrow
entered @ 6140 with a tight stop @ 6128 target @ 6160
im not a big fan of CT trades, but i liked this one
Attached Image (click to enlarge)
Click to Enlarge Name: Bild 9.png Size: 28 KB
consistency wins
  • #8,775
  • Oct 29, 2013 3:04am Oct 29, 2013 3:04am
NJ 15min good for 19 pips.
Opened chart to see an overnight sell move.
Price retraced into MA's and stalled at S1 Pivot Line. - blue arrows
Waited for a clear sell signal.
Price tried to break S1 but failed countering with an outside bar.
R:R was not good enough for me so i waited for a small retrace to jump in. - red arrow.
Sell @ 80.69 Stop @ 80.80 Limit (previous support/S2) @ 80.50
Attached Image (click to enlarge)
Click to Enlarge Name: Bild 10.png Size: 27 KB
consistency wins
  • #8,776
  • Oct 29, 2013 3:38am Oct 29, 2013 3:38am
Currently in a GU sell trade:
Sell @ 6101 Stop @ 6113 Limit @ 6075
Price in MA's and rejected several times current trendline and S1.
Waited to see if its gonna make a convincing break of the BRN. - second green arrow
Jumped in when it retraced to BRN with good R:R. - red arrow
Now i moved stop to BE - freetrade.
Attached Image (click to enlarge)
Click to Enlarge Name: Bild 12.png Size: 29 KB
consistency wins
  • #8,777
  • Oct 29, 2013 3:57am Oct 29, 2013 3:57am
Quoting snail69
{quote} JP, suggestion. FPV served as SR level. To have more confidence would be good to trade short after bounce of FPV.
Snail, Could u elaborate importance of FPV ?

What I noticed somewhere in the thread that, go for Buy only if Price if above FPV and Sell only if price is below FPV. Wondering if this is the right understanding on FPV ?
  • #8,778
  • Oct 29, 2013 3:59am Oct 29, 2013 3:59am
iTrader......nice trades and good commentaries. Thanks for your postings.
  • #8,779
  • Oct 29, 2013 4:00am Oct 29, 2013 4:00am
Out +19 enough for me, need a break

thanks eyevoltage, this thread is really a gold mine of knowledge, not just to profit pips, but for really understanding market movements, everybody should read it.
consistency wins
  • #8,780
  • Oct 29, 2013 4:12am Oct 29, 2013 4:12am
Quoting JPraveen
{quote} Snail, Could u elaborate importance of FPV ? What I noticed somewhere in the thread that, go for Buy only if Price if above FPV and Sell only if price is below FPV. Wondering if this is the right understanding on FPV ?
JP, that might keep you out of many weak trades.
8 traders viewing now