Psych Levels, Pivots, and Trendlines - Resurrected | Page 453 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #9,041
  • Jun 16, 2014 2:06am Jun 16, 2014 2:06am
Quoting Islander
{quote} 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..... {image}
oh, no need for apologies, brother!
i just mentioned it as a matter of interest viz. while you approached the trade as a counter trendline break, i approached it as a |> b/o.

m5 used to be my preferred tf earlier on but now i stick to m15 coz it involves less watching and is therefore less tiring.
it could mean --

on the downside:
a few pips less on some trades,
the odd trade missed out,

on the upside:
less fatigue,
staying out of some potentially bad trades.
  • #9,042
  • Jun 16, 2014 2:47am Jun 16, 2014 2:47am
Quoting pgd
{quote} 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!
I have EU, UJ, EA, AU, GJ. Not a big fan of GU, GJ is much more reliable
Even though I walk through the darkest valley, I will fear no evil
  • #9,043
  • Jun 16, 2014 3:20am Jun 16, 2014 3:20am
Quoting pgd
{quote} oh, no need for apologies, brother! i just mentioned it as a matter of interest viz. while you approached the trade as a counter trendline break, i approached it as a |> b/o. m5 used to be my preferred tf earlier on but now i stick to m15 coz it involves less watching and is therefore less tiring. it could mean -- on the downside: a few pips less on some trades, the odd trade missed out, on the upside: less fatigue, staying out of some potentially bad trades.

GM - the action so far.....I use the 5m as its easier to see what's happening and as I am trading price levels and using audio alerts it does not IMO involve any more effort than trading the same levels off a 15m chart!......of course you DO need more discipline NOT to get trigger happy....

Edit: with today's range so far ~250 pips, I did take a half position sell on the 5m lower high with my alert and partial TP at the BRN - the alert sounded whilst I was posting and so I closed the remainder as price spiked under the BRN to hit the earlier high. Good pips banked and I am finished for this morning
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #9,044
  • Jun 16, 2014 9:21am Jun 16, 2014 9:21am
Uk100. Possible breakout
Attached Image (click to enlarge)
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  • #9,045
  • Jun 17, 2014 7:26am Jun 17, 2014 7:26am
Short, so far so good.
Attached Image (click to enlarge)
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  • #9,046
  • Jun 17, 2014 7:59am Jun 17, 2014 7:59am
Quoting lakhan
Short, so far so good. {image}
What pair is this? A little bit of information is always appreciated!
  • #9,047
  • Jun 17, 2014 8:09am Jun 17, 2014 8:09am
My bad. GU, Closed for 20. Bit lucky and stupid of me, didn't see news was around the corner
  • #9,048
  • Jun 17, 2014 8:29am Jun 17, 2014 8:29am
Quoting lakhan
My bad. GU, Closed for 20. Bit lucky and stupid of me, didn't see news was around the corner
Thank you. I note that there's no pivots or psych-lines, so I presume you're just sticking to trendlines? Or do you have separate screens for pivots and psychs?
  • #9,049
  • Jun 17, 2014 9:03am Jun 17, 2014 9:03am
I trade pivots mainly, but I do trade a few TL breaks. I don't mix the two together necessarily.
EV, seen some of your recent trades. Nice work mate!
  • #9,050
  • Jun 17, 2014 10:13am Jun 17, 2014 10:13am
Quoting lakhan
I trade pivots mainly, but I do trade a few TL breaks. I don't mix the two together necessarily. EV, seen some of your recent trades. Nice work mate!
Thanks very much. The best thing about this (acumen's) system is that it's so adaptable. Looking back down the years, we've had so many traders on here, all doing their own thing, but still sticking to the basics. Fascinating stuff!
Hope you stick around, my friend.
  • #9,051
  • Jun 19, 2014 3:28am Jun 19, 2014 3:28am
15m eur/usd.....

Price retreated from MR2 to R1, and halted right on the 8ema, where a bullish piercing pattern developed. Price then resumed its northern move.
Attached Image
  • #9,052
  • Jun 23, 2014 9:43am Jun 23, 2014 9:43am
GBPAUD m15 short

a bear flag consolidation across mS3.
rsi bearish divergence.
lastly, a bunch of long upper wicks followed by TL break.

entry: 1.8042.
exit : 1.8021 (near next sup. area).
Attached Image (click to enlarge)
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  • #9,053
  • Jun 23, 2014 1:02pm Jun 23, 2014 1:02pm
Nice one, pg. A very long bearish flag, but it was those upper shadows that gave the game away!!
Spot one, mate.
  • #9,054
  • Jun 23, 2014 2:08pm Jun 23, 2014 2:08pm
Quoting eyevoltage
Nice one, pg. A very long bearish flag, but it was those upper shadows that gave the game away!! Spot one, mate.
thanks, ev.

shadows beckon , don't they?
  • #9,055
  • Jun 25, 2014 1:58am Jun 25, 2014 1:58am
Good morning,

don't let this beautiful thread die. My first trade today, E/U:

Attached Image (click to enlarge)
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Daily Pivot - Bounce

Risk-to-Reward 1:1.7

best regards

Chriss
  • #9,056
  • Jun 25, 2014 2:14am Jun 25, 2014 2:14am
Missed this one

G/U is trending nicely, this bounce had more potential...

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  • #9,057
  • Jun 25, 2014 2:58am Jun 25, 2014 2:58am
Good to see your contributions, chrissfx. I feel the same way about this thread, mate. Just keep 'em coming!
  • #9,058
  • Jun 25, 2014 6:27am Jun 25, 2014 6:27am
15m nzd/usd......

Flag pattern descending to MS1, followed by a breakout and a fairly slow move upwards. Entry and exit as shown.
Attached Image
  • #9,059
  • Jun 26, 2014 2:45am Jun 26, 2014 2:45am
Sorry didn't post for a while, been busy. This one from yesterday +30 pips EU, rectangle, consolidation between Pivot and 1,36, break from rectangle up north. SL below consolidation, moved SL to BE at 1,3620.
In that consolidation is plenty of candles, doji, spinning top, hammer, which gives an idea that price will move up north
Attached Image (click to enlarge)
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Even though I walk through the darkest valley, I will fear no evil
  • #9,060
  • Jun 26, 2014 2:48am Jun 26, 2014 2:48am
Didn't take this one not my trading hours, but I am pretty sure EV would take this trade
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Even though I walk through the darkest valley, I will fear no evil
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