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Psych Levels, Pivots, and Trendlines - Resurrected

  • #9,321
  • Feb 3, 2015 9:17am Feb 3, 2015 9:17am
Quoting eyevoltage
{quote} Nice contribution, WDays, with good clear charts. I'll be fan of yours if you stay and contribute occasionally.
I hope to do so I really like PA trading, nothing gets you in a trade with better timing, I used to have trouble letting go of all my indis but it's much better now that I did so...
  • #9,322
  • Feb 3, 2015 11:52am Feb 3, 2015 11:52am
The eurodollar has been plenty generous today, I got a mesely 30 something pips out of it all... Entered with a pinbar (hammer?), was targetting 90ish, but bailed earlier because I have to go now.
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  • #9,323
  • Feb 4, 2015 1:08am Feb 4, 2015 1:08am
Quoting eyevoltage
A nice trade on the gbp/jpy. After all the confusion (in the circle), it was good to see a positive move up, breaching the mid-point level, and moving back up to the Main Pivot line. Entry and exit as shown. {image}
Clear and simpe as always
Got this one too
  • #9,324
  • Feb 4, 2015 7:34am Feb 4, 2015 7:34am
Eu was (is) trapped between a rock and a hard place... took a chance there by going long below the pivot, after it formed a double bottom and entered long after a morning star (I believe? I can never remember the names of the patterns I trade ). I was hoping it would break the trendline because of decent EZ data, unfortunately it failed to a couple of times so I exited as it was coming back down at 1.1455ish for 16 pips...
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  • #9,325
  • Feb 4, 2015 8:49am Feb 4, 2015 8:49am
Quoting WDays
Eu was (is) trapped between a rock and a hard place... took a chance there by going long below the pivot, after it formed a double bottom and entered long after a morning star (I believe? I can never remember the names of the patterns I trade ). I was hoping it would break the trendline because of decent EZ data, unfortunately it failed to a couple of times so I exited as it was coming back down at 1.1455ish for 16 pips... {image}
Nice one, brother. In actual fact, the candle you saw as a morning star, was, in fact, a Harami candle, where the previous candle's body has a higher high and a lower low. In this case, a nice reversal signal right on the pivot point.
  • #9,326
  • Feb 4, 2015 9:33am Feb 4, 2015 9:33am
Quoting eyevoltage
{quote} Nice one, brother. In actual fact, the candle you saw as a morning star, was, in fact, a Harami candle, where the previous candle's body has a higher high and a lower low. In this case, a nice reversal signal right on the pivot point.
Thanks.

Funny, I thought a harami was japanese candle stick talk for inside bar? The candle I was referring to has broken the low of the previous candle, closed higher than it opened and made a tiny wick up, hence why I referred to it as a morning star I've been trading for three years+ now, and I have yet to remember the names of the various patterns I use in my trading, how sad is that
  • #9,327
  • Feb 4, 2015 9:43am Feb 4, 2015 9:43am
Quoting WDays
{quote} Thanks. Funny, I thought a harami was japanese candle stick talk for inside bar? The candle I was referring to has broken the low of the previous candle, closed higher than it opened and made a tiny wick up, hence why I referred to it as a morning star I've been trading for three years+ now, and I have yet to remember the names of the various patterns I use in my trading, how sad is that
Where the Harami is concerned, the shadows are ignored and it's only the body of the candle that's taken into account.
  • #9,328
  • Feb 4, 2015 9:49am Feb 4, 2015 9:49am
15m audjpy.

Just finished a longish trade, but it was well worth waiting for. The ellipse shows a bullish candle followed by a Doji with a lower high, and in turn, followed by a bearish candle with a lower high. It just needed the break under the mid-point level, and that's where I entered. The MA's were widening all the time, with price sticking quite close to the 8ema all the way down.
One of those rare ones that does exactly what one wants it to do!!
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  • #9,329
  • Feb 4, 2015 9:53am Feb 4, 2015 9:53am
Quoting eyevoltage
{quote} Where the Harami is concerned, the shadows are ignored and it's only the body of the candle that's taken into account.
I see Thank you for the clarification! And nice trade yourself.
  • #9,330
  • Feb 5, 2015 11:22am Feb 5, 2015 11:22am
Landed a (not so) quick scalp on cable. It took a while, but I was out anyway so I could handle it. Target was the 0.382 level
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  • #9,331
  • Edited 11:54am Feb 6, 2015 8:21am | Edited 11:54am
Collecting scraps post-NFP

4 trades for a total of 88 pips,
first one was a buy at 118.391 for 25 pips
second was a second buy at 118.76 for 35 pips
third was a buy at 118.94 for 17 pips
fourth was a buy at 118.03 for 11 pips...

The TP was set for 118.32, unfortunately I couldn't wait anymore for it to take out stops at 118.20 so I closed manually for what I had and am going off to have some drinks
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  • #9,332
  • Feb 9, 2015 8:53am Feb 9, 2015 8:53am
I am surprised to see this thread has so little activity :| It's actually a very good way to make pips, much better than the cluttered charts most systems have to offer!
  • #9,333
  • Feb 10, 2015 3:58am Feb 10, 2015 3:58am
Quoting WDays
I am surprised to see this thread has so little activity :| It's actually a very good way to make pips, much better than the cluttered charts most systems have to offer!
You're quite right. I'm sure that most traders don't bother because this method IS very simple, and most people avoid it like the plague because they don't need to fill their charts with all sorts of indicators.
This method has proved time and again that "LESS IS MORE"!!​
  • #9,334
  • Feb 11, 2015 10:22am Feb 11, 2015 10:22am
gbpjpy 15m.....

Always good to see a nice consolidation forming along any pivot line - in this case a mid-point. The 50sma (out of picture) still going up, giving the indication that there's more to follow. I was a bit late getting out........that shooting star was too big to argue with!!
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  • #9,335
  • Feb 12, 2015 5:23am Feb 12, 2015 5:23am
Quoting eyevoltage
{quote} You're quite right. I'm sure that most traders don't bother because this method IS very simple, and most people avoid it like the plague because they don't need to fill their charts with all sorts of indicators. This method has proved time and again that "LESS IS MORE"!!​
Eye - this is a great thread. Yes -the approach is so simple that it is learnt very quickly, whereupon people like myself then go away and trade it live. Some pop in now and again to clarify a few points, but in general, the approach is so simple that repetition is pointless. Great that you pop in now and again to check that things remain simple and not tinkered with. The thread could be locked and used as a learning resource for interested parties? Overall, the thread will probably fade away as all things do , even James16 thread is now a bloated hulk of information -much of which is repetition which could be avoided if people actually read all posts before asking questions (Like all good threads it could be trimmed but what a herculean task) , so folks- save this thread to your computers for future reference before it is lost in the dark under belly of the FF cellars.
every Saint has a past. Every Sinner has a Future
  • #9,336
  • Feb 12, 2015 7:15am Feb 12, 2015 7:15am
Quoting turnip15
{quote} Eye - this is a great thread. Yes -the approach is so simple that it is learnt very quickly, whereupon people like myself then go away and trade it live. Some pop in now and again to clarify a few points, but in general, the approach is so simple that repetition is pointless. Great that you pop in now and again to check that things remain simple and not tinkered with. The thread could be locked and used as a learning resource for interested parties? Overall, the thread will probably fade away as all things do , even James16 thread is now...
You're right, turnip, it IS a great thread, and it's all down to the originator, acumen. He disappeared off the scene quite some time ago, and there's been no indication as to what he's doing these days. I'm quite sure, though, that there's quite a few people out there who are grateful for what he left behind.
  • #9,337
  • Mar 17, 2015 9:30am Mar 17, 2015 9:30am
Hello EV,





I've just about finished reading through this mammoth thread, which I have to say is huge, but well worth it. Many thanks for all your input on here, it really is appreciated. My grasp of price action has improved ten-fold from reading your charts.

Before I post some charts up, could you please tell me how you get the price entry and exits (in the boxes) to show up on your charts.

My charts will make much more sense, if people can see where I jumped in and out of the market.

Thanks for all your help.

Steve, in Sheffield.



Quoting eyevoltage
{quote} You're right, turnip, it IS a great thread, and it's all down to the originator, acumen. He disappeared off the scene quite some time ago, and there's been no indication as to what he's doing these days. I'm quite sure, though, that there's quite a few people out there who are grateful for what he left behind.
"Never interrupt your enemy when he is making a mistake" Napoleon Bonaparte
  • #9,338
  • Mar 17, 2015 11:55am Mar 17, 2015 11:55am
OK, my first trade using this method.

A scalp on the EUR/USD 5 minute chart today.

It was good for 17 pips profit. My entry and exit aren't showing up all that great on the chart, so I have highlighted the area with a green eclipse.

Price punched through the 1.06400 line, which has provided numerous resistance in the recent past (triple top). Price was immediately pushed back down, leaving us with a nice looking pin bar. The MACD indicator was also showing a nice downwards divergence.

I jumped in immediately, with my stop just above the pin high.

I exited at the weekly pivot line, for a very easy 17 pips profit. My exit also coincided with price hitting the 50 MA.

In retrospect, I could have stayed in the trade much longer, as price continues to fall as I write, but I'm very happy with this trade. Nice and uncomplicated.

Please come back eyevoltage - I miss your excellent posts and charts.




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Click to Enlarge Name: EURUSD 5min.png Size: 93 KB
"Never interrupt your enemy when he is making a mistake" Napoleon Bonaparte
  • #9,339
  • Mar 18, 2015 10:08am Mar 18, 2015 10:08am
eur/usd 5 mins

A 5 mins trade that was good for 15 pips profit.

The red candle before my trade bounced off and rejected the daily open line (horizontal blue line).

This red candle was then engulfed by the next green candle, which is where I immediately entered the trade.

I exited for 15 pips profit, just before the weekly pivot line.

Price then went south again. All-in-all, another quick, clean trade, that I'm very happy with.



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Click to Enlarge Name: 5 min scalp.png Size: 90 KB
"Never interrupt your enemy when he is making a mistake" Napoleon Bonaparte
  • #9,340
  • Apr 21, 2015 2:49am Apr 21, 2015 2:49am
Hi folks.
Just popped in to see if there's any interest still in this method. Apologies to MushyPeas for not replying to his posts and charts. I'm still keeping things simple and very basic, as you can see below.
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