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Psych Levels, Pivots, and Trendlines - Resurrected

  • #9,001
  • Jun 6, 2014 5:03am Jun 6, 2014 5:03am
Quoting eyevoltage
aus/usd.......I missed this one as I was busy with other duties, but it's a nice example of one of the many types of a potential trade this method can throw up. Price reached upwards and pierced R1 three times before dropping back to the mid-point level. There then formed what I call a "long-tailed harami" which heralded another assault on R1, and this time, succeeded. A nice surge up followed, making anything up to around 20 pips or so. {image}
I had pretty much the same trade, I had a trade on the break of triangle, but that trade end up BE, so I entered second time on the retest, that was risky trade, I didn't wait for price close above 0,93 and R1.
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Even though I walk through the darkest valley, I will fear no evil
  • #9,002
  • Jun 6, 2014 7:12am Jun 6, 2014 7:12am
Thanks a lot to all senior members for sharing your trades here.
Just closed GJ long. Exited when PA reached today's high.
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  • #9,003
  • Jun 9, 2014 5:11am Jun 9, 2014 5:11am
15m eur/usd.....


After the large bullish candle straddled MR1, a large bearish harami formed. Price dropped to the Main Pivot level, hesitated with a long-legged doji "stutter", and then continued down. I was going to get out at MS1, but I decided to watch and wait, because my 8ema was still quite steep and and I had a hunch that there was still some price movement to come. Entry and exit as shown.
Attached Image
  • #9,004
  • Jun 9, 2014 7:29am Jun 9, 2014 7:29am
Quoting eyevoltage
15m eur/usd..... After the large bullish candle straddled MR1, a large bearish harami formed. Price dropped to the Main Pivot level, hesitated with a long-legged doji "stutter", and then continued down. I was going to get out at MS1, but I decided to watch and wait, because my 8ema was still quite steep and and I had a hunch that there was still some price movement to come. Entry and exit as shown. {image}
Nice trade! My chart looks a little different, i.e. no harami pattern, etc. My broker is Oanda. What is your broker?
  • #9,005
  • Jun 9, 2014 7:53am Jun 9, 2014 7:53am
Quoting Cold_W
{quote} Nice trade! My chart looks a little different, i.e. no harami pattern, etc. My broker is Oanda. What is your broker?
I don't trade through a broker, CW. I operate through a financial spread-betting firm. From what I've heard, spread-betting is illegal in some parts of the world, including the USA, I believe, but here in the UK, it's totally legitimate.
  • #9,006
  • Jun 9, 2014 7:55am Jun 9, 2014 7:55am
Quoting eyevoltage
{quote} I don't trade through a broker, CW. I operate through a financial spread-betting firm. From what I've heard, spread-betting is illegal in some parts of the world, including the USA, I believe, but here in the UK, it's totally legitimate.
Thank you for reply
  • #9,007
  • Jun 9, 2014 8:09am Jun 9, 2014 8:09am
eurjpy m15 short

the down move started with a bearish divergence early in the day.
a good short entry came along with a bearish harami (encircled) forming at the confluence of:

1] last week's high (violet dashdotted).
2] mR1 (red dotted).
3] res. zone (magenta band)

a nice trailable move followed until exit near mS2 on rsi painting bullish divergence to price.

entry and exit marked on chart.

+48
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  • #9,008
  • Jun 9, 2014 8:16am Jun 9, 2014 8:16am
Quoting pgd
eurjpy m15 short the down move started with a bearish harami early in the day. a good short entry came along with a bearish harami (encircled) forming at the confluence of: 1] last week's high (violet dashdotted). 2] mR1 (red dotted). 3] res. zone (magenta band) a nice trailable move followed until exit near mS2 on rsi painting bullish divergence to price. entry and exit marked on chart. +48 {image}

Nice one, pg.
  • #9,009
  • Jun 9, 2014 8:24am Jun 9, 2014 8:24am
Quoting eyevoltage
{quote} Nice one, pg.
thanks, brother.
  • #9,010
  • Edited 10:14am Jun 9, 2014 9:41am | Edited 10:14am
crude oil m15 long

price rode along confluence of pivot and support area (lt. blue).
then, painted a hammer (red ellipse) and started its ascent.

entry: 102.86
exit1 : 103.49 (bearish div. while price hits R2) +63
exit2 : 103.82 (near R3) +96

it may be headed to the res. area marked at ~104.25 but happy to take this off the table here.
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  • #9,011
  • Jun 10, 2014 5:46am Jun 10, 2014 5:46am
EU +40, price found resistance at 1.35, small consolidation, close below daily open and S1.
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Even though I walk through the darkest valley, I will fear no evil
  • #9,012
  • Jun 10, 2014 6:33am Jun 10, 2014 6:33am
Good one, monocor. It was the consolidation ending with a nice bearish engulfing pattern that made it a real possibility. This sort of move happens all the time. Whenever you see a consolidation, it signals that there's a lot of indecision. So it's worth keeping a close eye on the candles as they form, and wait for a pattern that signals a possibility of a strong move either up or down, depending on which pattern pops up.

  • #9,013
  • Jun 10, 2014 8:48am Jun 10, 2014 8:48am
Quoting eyevoltage
Good one, monocor. It was the consolidation ending with a nice bearish engulfing pattern that made it a real possibility. This sort of move happens all the time. Whenever you see a consolidation, it signals that there's a lot of indecision. So it's worth keeping a close eye on the candles as they form, and wait for a pattern that signals a possibility of a strong move either up or down, depending on which pattern pops up.
Thanks, will keep an eye.
Even though I walk through the darkest valley, I will fear no evil
  • #9,014
  • Jun 10, 2014 8:49am Jun 10, 2014 8:49am
One more trade from today GJ +25, retest of S2 with pennant formation.
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Even though I walk through the darkest valley, I will fear no evil
  • #9,015
  • Jun 10, 2014 10:07am Jun 10, 2014 10:07am
Quoting monocor
EU +40, price found resistance at 1.35, small consolidation, close below daily open and S1. {image}
very nice, mono.
  • #9,016
  • Edited 3:12pm Jun 10, 2014 10:34am | Edited 3:12pm
gold m15, long

a reversal comprising of a piercing line pattern and a couple of dojis (blue ellipse) at sup. area (light green band).
then, a push and close above the pivot provides the entry (as marked).
exit near R3 (as marked).

a painless trade.

PS
a flag is now forming.
let's see what that brings us.
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  • #9,017
  • Jun 11, 2014 2:48am Jun 11, 2014 2:48am
gbpcad m15 long

bullish divergence at S1.
price moves away a bit.
then, retests and forms a piercing line pattern (orange ellipse) which provides the long entry.
entry: 1.8254
exit : targeting 1.8280 (near confluence of pivot and red res. area) (+26)
stoploss tightened to 1.8266
+26 or +12 depending on what is hit.
.
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  • #9,018
  • Jun 11, 2014 2:48am Jun 11, 2014 2:48am
Good morning, pg. Nice trade, brother.
  • #9,019
  • Edited 3:16am Jun 11, 2014 2:52am | Edited 3:16am
Quoting eyevoltage
Good morning, pg. Nice trade, brother.
good morning, ev.

thanks.
  • #9,020
  • Jun 11, 2014 4:34am Jun 11, 2014 4:34am
Quoting pgd
{quote} very nice, mono.
Thx mate !
Even though I walk through the darkest valley, I will fear no evil
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