Psych Levels, Pivots, and Trendlines - Resurrected | Page 488 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #9,741
  • May 19, 2015 3:30am May 19, 2015 3:30am
Hi Everyone
I have only discovered this thread today (only 7 years late!!!!).
I'm slowly getting through all the posts.(I'm not up to date yet) Thank you to all who have contributed. There is a lot to learn in candlestick patterns.
a special thanks to EV, who after all these years is still trading the same way. ( which proves it must be working).
cheers
Coastie
  • #9,742
  • May 19, 2015 3:55am May 19, 2015 3:55am
Quoting coastie
Hi Everyone I have only discovered this thread today (only 7 years late!!!!). I'm slowly getting through all the posts.(I'm not up to date yet) Thank you to all who have contributed. There is a lot to learn in candlestick patterns. a special thanks to EV, who after all these years is still trading the same way. ( which proves it must be working). cheers Coastie
Welcome, coastie. Any questions, just ask. Good luck with the method.
  • #9,743
  • May 19, 2015 4:50am May 19, 2015 4:50am
Morning !! Just got home, I see that I missed good trades
Is some had this trades ???
Attached Image(s) (click to enlarge)
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  • #9,744
  • May 19, 2015 5:30am May 19, 2015 5:30am
Quoting fxnikolaev
Morning !! Just got home, I see that I missed good trades Is some had this trades ??? {image} {image} {image}
Morning, fxn. No, I missed all these, due to other daily duties. I'm guessing that nobody else on here caught them either, or we'd have seen their charts no doubt.
  • #9,745
  • May 19, 2015 5:43am May 19, 2015 5:43am
Quoting eyevoltage
{quote} Morning, fxn. No, I missed all these, due to other daily duties. I'm guessing that nobody else on here caught them either, or we'd have seen their charts no doubt.
Indeed, My working schedule over the next week isn't conducive to London open trading.. such a shame, some great setups today!
  • #9,746
  • May 19, 2015 6:00am May 19, 2015 6:00am
I took 1 trade the EUR/USD. broke the 1.13 on London open and tp was 1.125.
still trying to learn
cheers
  • #9,747
  • May 19, 2015 6:07am May 19, 2015 6:07am
Quoting coastie
I took 1 trade the EUR/USD. broke the 1.13 on London open and tp was 1.125. still trying to learn cheers
Can you show us a chart, coastie?
  • #9,748
  • May 19, 2015 6:28am May 19, 2015 6:28am
AU M15.

After pull-back to MS1 bearish harami appeared. After PA closed above EMA8 I exited with -3 pips.
I'll appreciate any comments.
Attached Image (click to enlarge)
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  • #9,749
  • May 19, 2015 6:39am May 19, 2015 6:39am
Sold this 3, engulf on retracement, with divergence for continuation
Attached Image(s) (click to enlarge)
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  • #9,750
  • May 19, 2015 6:48am May 19, 2015 6:48am
Quoting Cold_W
AU M15. After pull-back to MS1 bearish harami appeared. After PA closed above EMA8 I exited with -3 pips. I'll appreciate any comments. {image}
I wouldn't have taken this trade, Cold, purely and simply because entry was very near S1 which had been tried and rejected some hours ago. Just my view, mate. Others may have a different view.
  • #9,751
  • May 19, 2015 6:53am May 19, 2015 6:53am
Quoting eyevoltage
{quote} I wouldn't have taken this trade, Cold, purely and simply because entry was very near S1 which had been tried and rejected some hours ago. Just my view, mate. Others may have a different view.
Thank you, EV! I got your point and it's helpful as always!
  • #9,752
  • Edited 7:18am May 19, 2015 6:56am | Edited 7:18am
Quoting fxnikolaev
Sold this 3, engulf on retracement, with divergence for continuation {image} {image} {image}
Fxn, I'm still in EU after a bearish wedge formed. Aiming for S2/S3 midpoint.
  • #9,753
  • May 19, 2015 7:01am May 19, 2015 7:01am
EV can you clarify, Im basically looking for patterns around the levels, if a setup occurs between levels does this deter you?

If say, the next positive level is a midpoint, would you then make the next support or resistance level your target?

My understanding is, for a trade to be valid, it must have a good risk to reward ratio ie 1:1, so I set my SL above the last level or above the last high.. so to if entering midway through levels, my target must be the 2nd level.. Oh gawd, I'll post a screenshot lol.
  • #9,754
  • May 19, 2015 7:02am May 19, 2015 7:02am
Quoting eyevoltage
{quote} Fxn, I'm still in EU after a bearish wedge formed. Aiming for S1/S2 midpoint.

You mean S2/S3?
  • #9,755
  • May 19, 2015 7:11am May 19, 2015 7:11am
Quoting eyevoltage
{quote} Fxn, I'm still in EU after a bearish wedge formed. Aiming for S1/S2 midpoint.
I just closed all 3 for 50 pips in total, news release is coming, they can shake out on news
  • #9,756
  • May 19, 2015 7:13am May 19, 2015 7:13am
Quoting fxnikolaev
{quote} I just closed all 3 for 50 pips in total, news release is coming, they can shake out on news
Good idea mate
  • #9,757
  • May 19, 2015 7:19am May 19, 2015 7:19am
Quoting PixeLM
{quote} You mean S2/S3?
Correct. Swiftly edited!! Thanks, mate.
  • #9,758
  • May 19, 2015 7:26am May 19, 2015 7:26am
Quoting PixeLM
EV can you clarify, Im basically looking for patterns around the levels, if a setup occurs between levels does this deter you? If say, the next positive level is a midpoint, would you then make the next support or resistance level your target? My understanding is, for a trade to be valid, it must have a good risk to reward ratio ie 1:1, so I set my SL above the last level or above the last high.. so to if entering midway through levels, my target must be the 2nd level.. Oh gawd, I'll post a screenshot lol.
Basically, if a pattern sets up between pivots, then I would be reluctant to enter unless there's a fair amount of space to work with. When things are getting a little cramped, I stay out. However, when a flag, wedge, triangle etc., forms around any of the pivots, then I'm VERY interested.
  • #9,759
  • May 19, 2015 7:30am May 19, 2015 7:30am
Quoting eyevoltage
{quote} Basically, if a pattern sets up between pivots, then I would be reluctant to enter unless there's a fair amount of space to work with. When things are getting a little cramped, I stay out. However, when a flag, wedge, triangle etc., forms around any of the pivots, then I'm VERY interested.
Thats a good point !!!
  • #9,760
  • Edited 9:27am May 19, 2015 7:42am | Edited 9:27am
NU M15. Still open.

Bearish harami right below DP.

Edit: Closed the trade for +50
Attached Image (click to enlarge)
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