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Psych Levels, Pivots, and Trendlines - Resurrected

  • #9,021
  • Jun 11, 2014 4:36am Jun 11, 2014 4:36am
UJ +16, Triangle break out, close below MS1!
Attached Image (click to enlarge)
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Even though I walk through the darkest valley, I will fear no evil
  • #9,022
  • Jun 11, 2014 6:34am Jun 11, 2014 6:34am
EU long trade, closed for +16. Entered after PA formed and broke bullish flag.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15.png Size: 57 KB
  • #9,023
  • Edited 10:37am Jun 11, 2014 9:52am | Edited 10:37am
GBPCAD M15 SHORT

a push to the pivot area where price diverges to rsi and drops away.
a second attempt to the pivot where a lower high and bearish harami are painted (blue rectangle).

entry: 1.8273 (below pattern)
exit : 1.8240 (on close of the hammer -- 2 long lower wicks at mS2)
+33
.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad_m15_20140611_1.png Size: 38 KB
  • #9,024
  • Edited 3:52am Jun 12, 2014 1:42am | Edited 3:52am
euraud m15 short
(live)

rsi divergence into R1.
LH s/s followed by bearish engulfing (encircled).
breakdown from |> consolidation.

entry: 1.4431

nice thrust below pivot.
but, followed by a long tailed doji...
so, s/l already at b/e.
tp still open.

update
exit: 1.4398 (upon close of hammer at S1) +33.
.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud_m15_20140612.png Size: 31 KB
  • #9,025
  • Edited 4:33am Jun 12, 2014 3:15am | Edited 4:33am
gbpusd m15 long (continuation trade)
(live)

a sym |> at mR1 and b/o.
entry: 1.6807
exit 1: 1.6832 (near mR2) +25
s/l : 1.6813 (in profit)
tp 2 : 1.6865

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_m15_20140612.png Size: 31 KB

--- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x ---

update

a push above mR2 took out the previous high. but rsi did not make a new high.
expecting a bearish divergence, exited near top of that candle while it was still live.
exit: 1.3837 (+30)

Attached Image

.
  • #9,026
  • Jun 12, 2014 4:54am Jun 12, 2014 4:54am
Quoting pgd
gbpusd m15 long (continuation trade) (live) a sym |> at mR1 and b/o. entry: 1.6807 exit 1: 1.6832 (near mR2) +25 s/l : 1.6813 (in profit) tp 2 : 1.6865 {image} --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- x --- update a push above mR2 took out the previous high. but rsi did not make a new high. expecting a bearish divergence, exited near top of that candle while it was still live. exit: 1.3837 (+30) {image} .
Nice trades mate! I like your trades ! Do you trade mostly during Asia ?
Even though I walk through the darkest valley, I will fear no evil
  • #9,027
  • Jun 12, 2014 5:04am Jun 12, 2014 5:04am
Two trades from today.

EA +40 pips. Resistance R1 and 1.4450. Consolidation, triangle formation, break below MR1. When price reached DP, moved my stop to BE. Closed after dragon fly at S1.

Second trade +22 pips. Flag at 1.44, retest, continuation on the down side. MS2 was target, so closed after break of MS2.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraudm15.png Size: 64 KB
Click to Enlarge Name: euraudm15-1.png Size: 64 KB
Even though I walk through the darkest valley, I will fear no evil
  • #9,028
  • Jun 12, 2014 12:03pm Jun 12, 2014 12:03pm
Quoting monocor
Two trades from today. EA +40 pips. Resistance R1 and 1.4450. Consolidation, triangle formation, break below MR1. When price reached DP, moved my stop to BE. Closed after dragon fly at S1. Second trade +22 pips. Flag at 1.44, retest, continuation on the down side. MS2 was target, so closed after break of MS2. {image} {image}
mono,

see post 9024.
exactly same trade!
  • #9,029
  • Jun 12, 2014 12:18pm Jun 12, 2014 12:18pm
Quoting monocor
{quote} Nice trades mate! I like your trades ! Do you trade mostly during Asia ?
thanks, mono.

late asian to an hour or so into london. then, lon/ny overlap - whatever floats my boat each day.
if asian gives me a nice entry or two into a strong daily trend, then rest of the day is more about trade management with an eye on the daily atr.
  • #9,030
  • Jun 12, 2014 4:14pm Jun 12, 2014 4:14pm
Quoting pgd
{quote} mono, see post 9024. exactly same trade!
you are right, pretty much one in one. I didn't notice it first, your chart looks different, large candles.
Even though I walk through the darkest valley, I will fear no evil
  • #9,031
  • Edited 1:48am Jun 13, 2014 1:37am | Edited 1:48am
gbpjpy m15 long

this one worked out well taking a cue from h4, then dropping down to m15 to nail the entry!
rsi bullish divergence was seen on both timeframes (not marked on h4)
attached charts have self-explanatory annotations.

entry: 171.27
exit : 173.15

--------------------------------- H4 ---------------------------------

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--------------------------------- M15 ---------------------------------

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.
  • #9,032
  • Jun 13, 2014 2:24am Jun 13, 2014 2:24am
i see signs of some gbp weakness.
watching gbp pairs for possible shorts...
twt.
  • #9,033
  • Jun 13, 2014 5:18am Jun 13, 2014 5:18am
2 trades from today. EA +20 and AU +18. Triangle break out
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: euraudm15.png Size: 66 KB
Even though I walk through the darkest valley, I will fear no evil
  • #9,034
  • Jun 13, 2014 6:18am Jun 13, 2014 6:18am
usdtry m15 long

flowing with monocor's mood, another |> b/o trade...
Attached Image (click to enlarge)
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  • #9,035
  • Jun 13, 2014 6:40am Jun 13, 2014 6:40am
GBPUSD M15 SHORT

rsi divergence at res. area.
lower high bearish engulfing pattern.
entry, exit 1 marked (+22)
s/l at b/e for bal.
.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_m15_20140613.png Size: 35 KB
  • #9,036
  • Jun 13, 2014 6:51am Jun 13, 2014 6:51am
Hi EV and pgd - hope you are both well......many a long moon since I have posted here, so as requested, here's one......now I am focused on UsdTry (Turkish Lira) and its ADR tells you why.....also, its moves are almost all during the European Session.

Whilst I trade mainly off the 5m / 1m charts, using EVs (old?) methodology these were a couple of buys on the breaks as shown for 80 & 93 pip gross moves from the entries - this contract has normal spreads of 5/8 pips, with spikes of 20/30 pips, usually around turns, so I don't use stops.....plenty of posts elsewhere for any who might be interested in UT

Cheers

Islander
Attached Image (click to enlarge)
Click to Enlarge Name: jne13 ut 15m 1140.png Size: 32 KB
Trading Levels with WRBs
  • #9,037
  • Jun 13, 2014 7:17am Jun 13, 2014 7:17am
Quoting Islander
Hi EV and pgd - hope you are both well......many a long moon since I have posted here, so as requested, here's one......now I am focused on UsdTry (Turkish Lira) and its ADR tells you why.....also, its moves are almost all during the European Session. Whilst I trade mainly off the 5m / 1m charts, using EVs (old?) methodology these were a couple of buys on the breaks as shown for 80 & 93 pip gross moves from the entries - this contract has normal spreads of 5/8 pips, with spikes of 20/30 pips, usually around turns, so I don't use stops.....plenty...
islander,

welcome back!

i started doing UT after i read a couple of your posts on your regular thread.
in fact, the 2nd trade you posted here today is about the same as the one i posted as a |> b/o at post #9034 above.
my entry was a bit late, though.

i agree, the adr is quite attractive. however, the pip value is about 1/2 that of usd pairs which probably explains the high adr.

do post more often.

cheers.
  • #9,038
  • Jun 13, 2014 5:10pm Jun 13, 2014 5:10pm
Quoting pgd
GBPUSD M15 SHORT rsi divergence at res. area. lower high bearish engulfing pattern. entry, exit 1 marked (+22) s/l at b/e for bal. . {image}
Nice trade! I saw that H&S too, but I don't trade cable. Nice entry !
Even though I walk through the darkest valley, I will fear no evil
  • #9,039
  • Jun 14, 2014 4:36am Jun 14, 2014 4:36am
Quoting monocor
{quote} Nice trade! I saw that H&S too, but I don't trade cable. Nice entry !
thanks, mono.

yes, it's an HnS too...
had noticed that but i don't bother with that aspect on lower timeframes.
for me, HnS on h4 and above give a nice trade context when taking i/day entries on lower tf's.

why don't u trade cable?
do u trade EU?
which pairs do u trade?

cheers!
  • #9,040
  • Edited 5:23am Jun 15, 2014 4:05am | Edited 5:23am
Quoting pgd
{quote} islander, welcome back! i started doing UT after i read a couple of your posts on your regular thread. in fact, the 2nd trade you posted here today is about the same as the one i posted as a |> b/o at post #9034 above. my entry was a bit late, though. i agree, the adr is quite attractive. however, the pip value is about 1/2 that of usd pairs which probably explains the high adr. do post more often. cheers.
Apologies, I only noticed your post AFTER I had made mine!

I actually think that this works better on the 5m TF as the pull backs can be quite swift.....gross pips shown, so realistically take off 20 or so.....
Attached Image (click to enlarge)
Click to Enlarge Name: jne13 ut 5m 1600.png Size: 42 KB
Trading Levels with WRBs
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