Psych Levels, Pivots, and Trendlines - Resurrected | Page 469 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #9,361
  • Apr 23, 2015 8:47am Apr 23, 2015 8:47am
M5 - GJ.......

This is a beauty. A period of consolidation on the mid-point pivot (in the yellow circle), ended by a large bearish engulfing candle. Entry and exit as shown. SL was above the engulfing candle.
Attached Image (click to enlarge)
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  • #9,362
  • Apr 23, 2015 8:49am Apr 23, 2015 8:49am
Quoting eyevoltage
M5 - GJ....... This is a beauty. A period of consolidation on the mid-point pivot (in the yellow circle), ended by a large bearish engulfing candle. Entry and exit as shown. SL was above the engulfing candle. {image}
Are you using a template for this chart?
  • #9,363
  • Apr 23, 2015 8:53am Apr 23, 2015 8:53am
Quoting PixeLM
I love this simple approach eyevoltage. Kudos for resurrecting this thread, subscribing and following Cheers!

Welcome, PixeLM. I look forward to you contributing to the thread. As you say, a very simple approach, as potential trades are easy to spot. All you need for this template is any Pivot Point indicator.
  • #9,364
  • Apr 24, 2015 2:59am Apr 24, 2015 2:59am
eyevoltage, I can see youre just using pivots and it seems very effective on the TF you are using, have you trialed using fibs alongside on higher timeframes and finding points of confluence?

I can see the OP was using this initially..
  • #9,365
  • Apr 24, 2015 3:04am Apr 24, 2015 3:04am
5m GJ.....

Consolidation along the mid-point pivot, followed by a break-out. Price then headed up to R1. Good for about 15 pips or so.
Attached Image
  • #9,366
  • Apr 24, 2015 3:26am Apr 24, 2015 3:26am
Rejected from R1 on 15min chart..
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  • #9,367
  • Apr 24, 2015 3:28am Apr 24, 2015 3:28am
I think I pulled the trigger too early being so close to London open, and Friday..
  • #9,368
  • Apr 24, 2015 3:52am Apr 24, 2015 3:52am
Quoting PixeLM
I think I pulled the trigger too early being so close to London open, and Friday..

Which pair is this, PixeLM?
  • #9,369
  • Apr 24, 2015 3:55am Apr 24, 2015 3:55am
Quoting eyevoltage
{quote} Which pair is this, PixeLM?
that is EU pair
  • #9,370
  • Apr 24, 2015 3:55am Apr 24, 2015 3:55am
Quoting eyevoltage
{quote} Which pair is this, PixeLM?
Oh sorry, EURUSD. It seems to have made a little double top on the 15min chart.. its still in play.

Im just figuring out some different pivot indis atm, and daily start hour..
  • #9,371
  • Apr 24, 2015 3:56am Apr 24, 2015 3:56am
Quoting PixeLM
Rejected from R1 on 15min chart.. {image}
U sell against the trend, that is bad trade
  • #9,372
  • Apr 24, 2015 3:57am Apr 24, 2015 3:57am
Quoting fxnikolaev
{quote} U sell against the trend, that is bad trade
Yeh I guess, Im seeing this pair to be in a range right now..
  • #9,373
  • Apr 24, 2015 3:59am Apr 24, 2015 3:59am
Just closed this one +30 pips, GJ, test and engulf ))))
Attached Image (click to enlarge)
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  • #9,374
  • Apr 24, 2015 4:04am Apr 24, 2015 4:04am
Quoting PixeLM
{quote} Yeh I guess, Im seeing this pair to be in a range right now..
It's consolidating. A break down to the mid-point would be worth around 30 pips, so keep an eye on it.
Attached Image
  • #9,375
  • Apr 24, 2015 4:05am Apr 24, 2015 4:05am
Quoting PixeLM
{quote} Yeh I guess, Im seeing this pair to be in a range right now..
I am using 8 EMA, it has to be close below MA and after that i will consider my entry
  • #9,376
  • Apr 24, 2015 4:06am Apr 24, 2015 4:06am
Quoting eyevoltage
{quote} It's consolidating. A break down to the mid-point would be worth around 30 pips, so keep an eye on it. {image}
small H&S
  • #9,377
  • Apr 24, 2015 4:09am Apr 24, 2015 4:09am
So that we can all see which pair is being shown, can you please right click the chart, select "properties" and then select "Show OHLC". That way, no matter how large or small your chart appears on here, the pair indication will appear top left of the chart.
Thanks in advance.
  • #9,378
  • Apr 24, 2015 4:16am Apr 24, 2015 4:16am
No probs eyevoltage, can I call you EV for short?
I will move to BE once 2/3rd target is reached, which is close. Risky trade though my moto is "without risk, there is no gain.."

fxnikolaev, Can you share your pivot indy please?
  • #9,379
  • Apr 24, 2015 4:19am Apr 24, 2015 4:19am
Quoting eyevoltage
{quote} It's consolidating. A break down to the mid-point would be worth around 30 pips, so keep an eye on it. {image}
My target is the 50 fib level from the pre London bull spike.
  • #9,380
  • Apr 24, 2015 4:36am Apr 24, 2015 4:36am
Sorry, guys, but I have to close down now. Lots to do, I'm afraid. Good luck with the rest of the day. See you on Monday, I hope.
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