Psych Levels, Pivots, and Trendlines - Resurrected | Page 447 | Forex Factory

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

  • #8,921
  • May 15, 2014 10:08am May 15, 2014 10:08am
eurcad short - m15

taken earlier in the day.
after about 5 hours of consolidation right below the pivot, price broke through the c/trendline and gave a classic bpc entry.

entry and exits marked.
gave ~ 55 pips on exit 1 and ~ 70 pips on exit 2.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad_m15.png Size: 27 KB
  • #8,922
  • May 15, 2014 10:26am May 15, 2014 10:26am
Very nice, pg. What MA's are you using? And what's the spread on that pair?
  • #8,923
  • Edited 9:27pm May 15, 2014 12:35pm | Edited 9:27pm
Quoting eyevoltage
Very nice, pg. What MA's are you using? And what's the spread on that pair?
spread varies 3-5 pips.
ema12, ema26 borrowed from the classic macd settings.
  • #8,924
  • May 15, 2014 2:19pm May 15, 2014 2:19pm
Quoting pgd
{quote} spread varies 3-5 pips. ema12, ema26 borrowed from the classic macd settings.
Thanks, brother.
  • #8,925
  • May 15, 2014 9:28pm May 15, 2014 9:28pm
Quoting eyevoltage
{quote} Thanks, brother.
trying them out myself. been just a few days.
u're welcome.
  • #8,926
  • Edited 1:58pm May 19, 2014 12:04pm | Edited 1:58pm
GBPUSD M5 SHORT

break of c/tl and mR1 confluence.
bpc short entry at 1.68195.
targeting 1.6785 (confluence of S1 and yest's low - dashed magenta line).

i may be criticised for entering close to the pivot.
however, rejection of yest's high (dashdot magenta line - also R1) with several long wicks led me to believe that it's headed for yest's low and maybe lower.

at worst, i will be out at b/e.

twt.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_m5.png Size: 35 KB
  • #8,927
  • May 19, 2014 10:15pm May 19, 2014 10:15pm
Hi PGD, what is the pivot indicator you use ?
  • #8,928
  • May 20, 2014 1:21am May 20, 2014 1:21am
Quoting snail69
Hi PGD, what is the pivot indicator you use ?
snail,

picked it up on FF long back.
you can use it with any broker.
input the day start hour and minute corresponding to 5 pm EST and you're good to go.

here you go...
Attached File(s)
File Type: mq4 Auto-Pivot Plotter V1-41.mq4   16 KB | 386 downloads
File Type: mq4 Auto-Pivot Plotter (Mid-Levels) V1-41.mq4   14 KB | 405 downloads
  • #8,929
  • May 20, 2014 3:59am May 20, 2014 3:59am
EJ M15 short. Closed for +27 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym15.png Size: 49 KB
  • #8,930
  • Edited 9:38am May 21, 2014 9:14am | Edited 9:38am
EURUSD M15 SHORT

price lazily rises to resistance area coming from 19-May (maroon band just above R1).
the descent starts with a doji with a long upper wick.
trendline break followed by pullback and continuation.
entry at 1.3695 after the pivot is taken out.
exit at 1.3663 support area (green band at bottom) coming from 15-May and S2 confluence.
this is also a support area on d1 chart since 27-Feb... perhaps a long setting up from here.
+32 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_m15.png Size: 37 KB
  • #8,931
  • May 21, 2014 2:03pm May 21, 2014 2:03pm
Quoting pgd
EURUSD M15 SHORT price lazily rises to resistance area coming from 19-May (maroon band just above R1). the descent starts with a doji with a long upper wick. trendline break followed by pullback and continuation. entry at 1.3695 after the pivot is taken out. exit at 1.3663 support area (green band at bottom) coming from 15-May and S2 confluence. this is also a support area on d1 chart since 27-Feb... perhaps a long setting up from here. +32 pips. {image}
Nice trade, pg. Also nice to see Cold W in the thick of the action as well!
Not had the time to trade here........domestic responsibilities weighing me down at present. I'm hoping that I can get back to being active on here on a regular basis again.
Keep 'em coming!
  • #8,932
  • May 21, 2014 4:27pm May 21, 2014 4:27pm
Quoting pgd
EURUSD M15 SHORT price lazily rises to resistance area coming from 19-May (maroon band just above R1). the descent starts with a doji with a long upper wick. trendline break followed by pullback and continuation. entry at 1.3695 after the pivot is taken out. exit at 1.3663 support area (green band at bottom) coming from 15-May and S2 confluence. this is also a support area on d1 chart since 27-Feb... perhaps a long setting up from here. +32 pips. {image}
Hi PGD,

Which indicator are the bands?
  • #8,933
  • May 21, 2014 11:08pm May 21, 2014 11:08pm
Quoting balouf
{quote} Hi PGD, Which indicator are the bands?
balouf,

you will need to draw them manually.
i wrote an indicator that keeps them updated to the current bar.
you can have it. instructions are in the file itself near the top.

cheers.
Attached File(s)
File Type: mq4 SR_zones.mq4   6 KB | 409 downloads
  • #8,934
  • Edited 3:17am May 22, 2014 2:43am | Edited 3:17am
AUDCAD short

guys,

this one is for a bunch of reasons, among them, trade support also from d1 timeframe:

d1

neat HnS pattern was triggered a few days ago.
now, price has risen and is re-testing the neckline (chart not attached. do take a look).

m15

1. price stalls before hitting resistance coming from 20-May (maroon band on top).
2. rsi bearish divergence.
3. descent starts with a bearish harami (encircled) across R1.
4. bearish pennant / trendline break.
5. re-test of break area and continuation with a long legged doji forming a lower high.
6. traditional bpc entry as marked at 1.0104.

seemed to be good enough reasons to enter early before the flow of the m15 ma's aligned to the reversal and before support from yest's high (dashdot magenta) was taken out. have to keep this one on a tight leash.

incidentally, the d1 HnS target lies in the 0.9950 area...
.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad_m15.png Size: 38 KB
  • #8,935
  • Edited 8:09am May 22, 2014 7:36am | Edited 8:09am
AUDCAD M15 - Trade Update

Descending |> (yellow) forms across yest's high & mR1.
Added to position upon breakdown of |> at marked entry 2.
Price stalls, painting a green candle at confluence of intraday support area (blue band) and mS1 with RSI deep in o/s and turning up.
That's Exit 1.

Balance pos. protected with s/l at b/e.

Edit

oops!
while i was posting, price spike takes out bal position!
perhaps, exiting all and looking for an opportunity to re-engage would have been a better plan...
Attached Image (click to enlarge)
Click to Enlarge Name: audcad_m15_1.png Size: 45 KB
  • #8,936
  • Edited 9:37am May 22, 2014 9:15am | Edited 9:37am
USDTRY M15 Short

price rejects pivot and res. area coming from yesterday with a couple of long upper wicks.
bearish engulfing pattern and lower high (encircled in red) forms a few candles later with rsi painting a hidden bearish divergence.

entry: 2.0950 (below pattern).
exit : 2.0847 (price stalls with a couple of dojis after a quick over 100 pip drop to S1. rsi is deep in o/s and turning up.)
.
Attached Image (click to enlarge)
Click to Enlarge Name: usdtry_m15.png Size: 32 KB
  • #8,937
  • Edited 11:22am May 22, 2014 10:43am | Edited 11:22am
USDTRY M15 Short again

A quick re-entry came along.

Bearish harami pattern (encircled in red) formed along S1.
Entry : 2.0829 (below pattern and S1).

price dropped for 3 candles down to mS2 making a lower low but rsi made a higher low showing bullish divergence.
i bailed out.
Exit : 2.0808

PS
what have we coming up now?
a lazy consolidation or a long setting up for a deeper retrace / reversal.
it's interesting to note that on d1 we have a bullish divergence followed by a higher low (in progress).
if the higher low comes through, we could be seeing some serious pips upwards.
twt.
Attached Image (click to enlarge)
Click to Enlarge Name: usdtry_m15_1.png Size: 27 KB
  • #8,938
  • Edited 4:32pm May 22, 2014 12:21pm | Edited 4:32pm
AUDCAD M15 SHORT RE-ENTRY

Read this post as a continuation to post 8,935 above.

there was this great opportunity to re-engage short which i missed while focusing on usdtry.
entry would have been around 1.0080 below the consolidation marked with a blue rectangle (lot of long upper wicks in there) and pivot.
well, you can't get them all but this one was important as it promised to be a runner in the context of the HnS pattern on D1.
.
Attached Image (click to enlarge)
Click to Enlarge Name: audcad_m15_2.png Size: 31 KB
  • #8,939
  • May 22, 2014 11:54pm May 22, 2014 11:54pm
Quoting pgd
{quote} balouf, you will need to draw them manually. i wrote an indicator that keeps them updated to the current bar. you can have it. instructions are in the file itself near the top. cheers. {file}
thank you very much
have a nice day!
  • #8,940
  • May 23, 2014 2:47am May 23, 2014 2:47am
I just have this trade right now, It just reached my target S1, moved SL to BE, I want to see if it will break S1 and continue on down side. For now +16 pips
I market my entry point, PP was support which become resistance, brake of round number.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15.png Size: 72 KB
Even though I walk through the darkest valley, I will fear no evil
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