Keep in touch.
Maybe from time to time i can contribute a trade on a higher TF here...
Donīt live for working, but work for living.
Psych Levels, Pivots, and Trendlines - Resurrected
- #8,843
- Nov 5, 2013 4:25am Nov 5, 2013 4:25am
I took the following trades today,
1. EU Sell 15 min
Market and MAs were sliding down, and broke 3500 psych level.
A nice Pinbar was formed around 3500 and then i awaited a break of the Pivot line to jump in.
I entered at 3490 with a stop above the pinbar, targeting S1 at 3465.
Market stalled in a range between 3478 and 88, so i decided to move my stop to BE.
So this position closed @ BE.
2. EA Sell 15min
Price broke, the tight range above pivot, and started a strong fall toward S1.
Slightly above S1 a Spinning Top pattern formed, i decided to sell on a break of this pattern, and S1. - black arrow
Price broke S1 and i jumped into this trade @ 1.4170 with a 20 pip stop, targeting MS2.
Price dropped quickly to my target and i banked in 20 pips.
On the chart you can also see a fat lightblue arrow i marked, a potential Buy scenario i was monitoring earlier, but price didnt manage to break the high of the Bullish Outside Bar, so there was no position taken.
3. AJ Sell 15min
Market made nice Bear move earlier, and retraced into the MA Zone.
There a Sideway "Box" formed and i was looking for a sell breakout to jump into a trade.
I dont know if you can call it Doji or Spinning Top, but the last bar in the Box didnt do any harm, showing indecision. I decided to jump into this trade, at a break of the box / bar low. - red arrow.
I placed my stop above the box high, initial target was S2 but price hesitated to break the 9300 psych level and formed a spinning top, so i decided to take my 18 pips profit, and leave, only to see my actual target get hit.
im tired, and gonna call it a day, bye.
1. EU Sell 15 min
Market and MAs were sliding down, and broke 3500 psych level.
A nice Pinbar was formed around 3500 and then i awaited a break of the Pivot line to jump in.
I entered at 3490 with a stop above the pinbar, targeting S1 at 3465.
Market stalled in a range between 3478 and 88, so i decided to move my stop to BE.
So this position closed @ BE.
2. EA Sell 15min
Price broke, the tight range above pivot, and started a strong fall toward S1.
Slightly above S1 a Spinning Top pattern formed, i decided to sell on a break of this pattern, and S1. - black arrow
Price broke S1 and i jumped into this trade @ 1.4170 with a 20 pip stop, targeting MS2.
Price dropped quickly to my target and i banked in 20 pips.
On the chart you can also see a fat lightblue arrow i marked, a potential Buy scenario i was monitoring earlier, but price didnt manage to break the high of the Bullish Outside Bar, so there was no position taken.
3. AJ Sell 15min
Market made nice Bear move earlier, and retraced into the MA Zone.
There a Sideway "Box" formed and i was looking for a sell breakout to jump into a trade.
I dont know if you can call it Doji or Spinning Top, but the last bar in the Box didnt do any harm, showing indecision. I decided to jump into this trade, at a break of the box / bar low. - red arrow.
I placed my stop above the box high, initial target was S2 but price hesitated to break the 9300 psych level and formed a spinning top, so i decided to take my 18 pips profit, and leave, only to see my actual target get hit.
im tired, and gonna call it a day, bye.
consistency wins
- #8,844
- Nov 5, 2013 4:51am Nov 5, 2013 4:51am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
A quick 20 Pips.. AUD/USD 15 MIN Double Bottom Formation Price Closed above FPV and Base of Double Bottom Formation of Indicision Candle Trade taken at Cross of Indicision Candle( Could have also be taken at Cross of Mother Candle) {image}
Nice trade, JPraveen. The "indecision" candle you mentioned is called a "doji" in candlestick parlance, by the way.
- #8,845
- Nov 5, 2013 4:55am Nov 5, 2013 4:55am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
iTrader, you've been busy this morning, brother!! Well done. You seem to have tired yourself out! Enjoy. 
- #8,847
- Nov 5, 2013 7:42am Nov 5, 2013 7:42am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
EU 15 mins - entry after price cleared pivot and exit around S1. Good for 20 pips. {image}
Good one, snail. I saw that one, but too late, sadly. Nice to see you using Pivots again, brother!
- #8,848
- Nov 6, 2013 7:21am Nov 6, 2013 7:21am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m EU..............
Not much happening today, but I've been watching this one forming for a while. A bullish wedge pattern formed around the R1 line, and when price broke up, it really went for it!! Entry and exit as indicated, and SL was set just under MR1.
Not much happening today, but I've been watching this one forming for a while. A bullish wedge pattern formed around the R1 line, and when price broke up, it really went for it!! Entry and exit as indicated, and SL was set just under MR1.
15m EU.............. Not much happening today, but I've been watching this one forming for a while. A bullish wedge pattern formed around the R1 line, and when price broke up, it really went for it!! Entry and exit as indicated, and SL was set just under MR1.
If this cadle just went a few pips in your direction but close as a doji? Its too risky for me to trade it like you.
But this is your way EV
- #8,850
- Nov 6, 2013 11:27am Nov 6, 2013 11:27am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} I can't really understand how can you open a trade EV when the candle is not closed
What really helped, Dimkata, was how the break of the TL came straight after a confluence of the TL itself, the 13ema and R1. As you said, yes, the next candle could easily have done what you suggested, as nothing is certain in this game. However, a breakout from a three-way confluence is very definitely a promising situation, and worth considering.
- #8,851
- Nov 6, 2013 11:50am Nov 6, 2013 11:50am
{quote} What really helped, Dimkata, was how the break of the TL came straight after a confluence of the TL itself, the 13ema and R1. As you said, yes, the next candle could easily have done what you suggested, as nothing is certain in this game. However, a breakout from a three-way confluence is very definitely a promising situation, and worth considering.
My trading not going very well unfortunately, I continue to loss more than I earn...
Today for example I entry on EU but stoped with -15 pips. Yes that is not a lot, but with account 200$ is it.... last week I had 300$ now... 200 something is wrong with me.
Am I wrong somewhere with my entry here or what?
The ema's were in the right way, we had a broken trend line and the entry was a half hour after open of Frankfurt....
Here is the chart:
- #8,852
- Nov 6, 2013 3:00pm Nov 6, 2013 3:00pm
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} Thanks Ev, My trading not going very well unfortunately, I continue to loss more than I earn...
I hope all this helps you, my friend.
God bless.
- #8,853
- Nov 6, 2013 10:56pm Nov 6, 2013 10:56pm
{quote} Dimkata.......price had finished an impressive rise a few hours before your entry. In my view, price then ambled across in what can only be described as a consolidation phase. You say the MAs were "in the right way", in other words, in the right order, and yes, they were. However, they were also ambling across the screen. Dimkata, I don't mean to be rude or anything, but I think that you're being a little impatient. Understandably, you want to trade, but this wasn't a decent set-up, and more than anything in this game, you must have the...
Please don't understand me wrong, Im not impatient, just I can't see the different between good and bad entry signals .
Ev, thank you anyway I will continue to try and fight, I will nоt give up. Many time in my life I gived up, but this time just I can't afford it, I must finish it to the end.
Thanks again my friend
A quick scalp i did earlier on the pound based on double top and previous resistance on the 15min. SL and TP set at 9pips. It's a ranging market as of right now but i think things might get interesting when the news comes out later.
Sit tight traders and protect your account to the maximum as i can sense there will be a storm coming in later, or not.
Sit tight traders and protect your account to the maximum as i can sense there will be a storm coming in later, or not.
- #8,860
- Nov 7, 2013 6:06am Nov 7, 2013 6:06am
- Joined Jan 2010 | Status: Trader | 2,021 Posts
15 min UJ - sometimes luck is here. Entry after broken flag. Exit later based on gut..... 
