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Psych Levels, Pivots, and Trendlines - Resurrected

  • #9,381
  • Apr 24, 2015 4:45am Apr 24, 2015 4:45am
EV can I ask u about this one, I was looking in to it, but after the news candle I pass on it. Would u take it ?? And how do u trade during news ???
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  • #9,382
  • Apr 24, 2015 5:49am Apr 24, 2015 5:49am
Trade Interceptor charts is the best, from what ive seen.
The first time I see real candles, like by the book
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  • #9,383
  • Apr 25, 2015 8:09am Apr 25, 2015 8:09am
Quoting fxnikolaev
EV can I ask u about this one, I was looking in to it, but after the news candle I pass on it. Would u take it ?? And how do u trade during news ??? {image}
Which one is the news candle? I can't really help you with this, fxn, because I'm not a fan of trading the news.
Sorry, mate.
  • #9,384
  • Edited 8:33am Apr 25, 2015 8:16am | Edited 8:33am
Quoting PixeLM
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..
I just use regular pivot points purely and simple because they've mostly done the business for me down the years. I've tried using various indicators as well, (including Fibonacci pivots) but decided in the end to just follow acumen's examples. He seemed to do well with them, so that was good enough for me. I have trialed a fair few indicators along the way, but honestly, I've never been happy with them. However, I do use Fibonacci Retracements from time to time, but not very often.
By the way, I've posted the pivots I use, plus the mid-points as well, down below.
Attached File(s)
File Type: ex4 FXI Pivots.ex4   25 KB | 316 downloads
File Type: ex4 Pivot Mid-Levels.ex4   5 KB | 295 downloads
  • #9,385
  • Apr 25, 2015 8:18am Apr 25, 2015 8:18am
Quoting fxnikolaev
Trade Interceptor charts is the best, from what ive seen. The first time I see real candles, like by the book {image}
Fxn, your chart has a nice look about it, and I hope it's doing the business for you. However, I wonder if you could let us know which pair you're trading as and when you post a chart? It would be much appreciated, mate!
  • #9,386
  • Apr 26, 2015 6:29am Apr 26, 2015 6:29am
Thanks EV, I'd like to keep it simple also. So using the same indy as you we can ensure we're reading from the same page.

Ive applied to chart without changing parameters, Im using a GMT+2 broker so hopefully our charts are similar.
  • #9,387
  • Apr 26, 2015 6:54am Apr 26, 2015 6:54am
awesome
  • #9,388
  • Apr 26, 2015 1:16pm Apr 26, 2015 1:16pm
Quoting eyevoltage
{quote} Fxn, your chart has a nice look about it, and I hope it's doing the business for you. However, I wonder if you could let us know which pair you're trading as and when you post a chart? It would be much appreciated, mate!
Sorry EV, I didn't realize it is cutting the right side of the chart.
  • #9,389
  • Apr 27, 2015 3:23am Apr 27, 2015 3:23am
Hmmm will we be seeing the EURUSD break below 1.08.
  • #9,390
  • Apr 27, 2015 3:33am Apr 27, 2015 3:33am
Morning, folks.

This would have been a lovely trade, but I missed it. 5m GJ forming a little double top just above the mid-point level. A nice little punt on that one would have yielded around 30 pips or so.
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  • #9,391
  • Apr 27, 2015 4:23am Apr 27, 2015 4:23am
Nice simple little setup, though my chart looks a little different to that...
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  • #9,392
  • Apr 27, 2015 4:26am Apr 27, 2015 4:26am
This isn't tradable but UJ has a nice rejection from R1 zone on the 5min chart.
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  • #9,393
  • Apr 27, 2015 4:55am Apr 27, 2015 4:55am
EV I visually backtested and it seems on such low timeframes Fibs don't really give a massive advantage, it does show good levels of confluence on larger timeframes though. For now I will post charts just using pivots.
  • #9,394
  • Apr 27, 2015 5:06am Apr 27, 2015 5:06am
Quoting PixeLM
EV I visually backtested and it seems on such low timeframes Fibs don't really give a massive advantage, it does show good levels of confluence on larger timeframes though. For now I will post charts just using pivots.
I also came to that conclusion some time ago. Hence, Fibs don't figure on my charts at all, except when I get a little curious about a particular situation. However, that doesn't happen very often.
  • #9,395
  • Apr 27, 2015 7:17am Apr 27, 2015 7:17am
I haven't traded this pair tonight but Im amazed at how its played the levels, looks good on the 5min chart, heres the 15min chart. UJ.
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  • #9,396
  • Apr 27, 2015 7:24am Apr 27, 2015 7:24am
You really cannot get an easier method to be honest.. Especially if you have time constraints. Use good MM and discipline and the sky is the limit..
  • #9,397
  • Apr 27, 2015 8:35am Apr 27, 2015 8:35am
Quoting PixeLM
You really cannot get an easier method to be honest.. Especially if you have time constraints. Use good MM and discipline and the sky is the limit..

Couldn't agree more!
  • #9,398
  • Apr 27, 2015 8:36am Apr 27, 2015 8:36am
Quoting PixeLM
I haven't traded this pair tonight but Im amazed at how its played the levels, looks good on the 5min chart, heres the 15min chart. UJ. {image}
That was good one, harami with confirmation and divergence A+
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  • #9,399
  • Apr 27, 2015 8:39am Apr 27, 2015 8:39am
Good use of SMA 50, some times it is acting as S/R
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  • #9,400
  • Apr 27, 2015 9:17am Apr 27, 2015 9:17am
Nice ones, fxn. I'm actually in the middle of a trade on GU right now.
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