{quote} I would say yes. Plus its now sitting on previous support and MR1.
Psych Levels, Pivots, and Trendlines - Resurrected
- #9,802
- May 25, 2015 2:17am May 25, 2015 2:17am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Hi guys, would you think this qualifies as a bull flag? {image}
- #9,805
- May 25, 2015 2:27am May 25, 2015 2:27am
Today is holiday in Europe and US, no trading for me !!!See u guys tomorrow !!! Happy pips to all !!!
Cya mate, enjoy your day.. Im working all week also, No London/US open trading for me after today!
- #9,808
- May 25, 2015 3:22am May 25, 2015 3:22am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m.....EJ
A bearish piercing candle right on the Pivot/S1 midpoint gave me the heads up. The next candle dropped through the 50sma and I was in. I was looking for an exit at the S1, but I think I got a little impatient!! Entry and exit as shown. (By the way, that bearish piercing candle would have been a Dark Cloud Cover if it had pushed down at least two thirds of the previous candle.)
A bearish piercing candle right on the Pivot/S1 midpoint gave me the heads up. The next candle dropped through the 50sma and I was in. I was looking for an exit at the S1, but I think I got a little impatient!! Entry and exit as shown. (By the way, that bearish piercing candle would have been a Dark Cloud Cover if it had pushed down at least two thirds of the previous candle.)
- #9,809
- May 25, 2015 3:31am May 25, 2015 3:31am
15m.....EJ A bearish piercing candle right on the Pivot/S1 midpoint gave me the heads up. The next candle dropped through the 50sma and I was in. I was looking for an exit at the S1, but I think I got a little impatient!! Entry and exit as shown. (By the way, that bearish piercing candle would have been a Dark Cloud Cover if it had pushed down at least two thirds of the previous candle.)
- #9,810
- May 25, 2015 3:38am May 25, 2015 3:38am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} That's a nice 30pip bread n butter trade mate!
- #9,811
- May 25, 2015 3:55am May 25, 2015 3:55am
15m.....EJ A bearish piercing candle right on the Pivot/S1 midpoint gave me the heads up. The next candle dropped through the 50sma and I was in. I was looking for an exit at the S1, but I think I got a little impatient!! Entry and exit as shown. (By the way, that bearish piercing candle would have been a Dark Cloud Cover if it had pushed down at least two thirds of the previous candle.)
- #9,813
- May 25, 2015 6:40am May 25, 2015 6:40am
- Joined Feb 2012 | Status: Trade like Water | 3,403 Posts
15m.....EJ A bearish piercing candle right on the Pivot/S1 midpoint gave me the heads up. The next candle dropped through the 50sma and I was in. I was looking for an exit at the S1, but I think I got a little impatient!! Entry and exit as shown. (By the way, that bearish piercing candle would have been a Dark Cloud Cover if it had pushed down at least two thirds of the previous candle.)
Let Market Tell You
- #9,814
- May 25, 2015 6:59am May 25, 2015 6:59am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
15m.....EJ A bearish piercing candle right on the Pivot/S1 midpoint gave me the heads up. The next candle dropped through the 50sma and I was in. I was looking for an exit at the S1, but I think I got a little impatient!! Entry and exit as shown. (By the way, that bearish piercing candle would have been a Dark Cloud Cover if it had pushed down at least two thirds of the previous candle.)
every Saint has a past. Every Sinner has a Future
- #9,815
- Edited 7:45am May 25, 2015 7:12am | Edited 7:45am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} 5 candles to the right is another piercing red candle - Did you ignore that one due to lack of confluence with 50 ema and pivot line?
Yes, I see the candle you refer to. You're right that it's a similar candle to the one that initiated my trade. Also, you're also right about why I ignored it. This thread is, after all, based on pivot lines, psych lines and trend lines, meaning that the reaction of price at those levels is what we should be looking for. Hope that makes sense, mate? - #9,816
- May 25, 2015 7:27am May 25, 2015 7:27am
15m.....EJ A bearish piercing candle right on the Pivot/S1 midpoint gave me the heads up. The next candle dropped through the 50sma and I was in. I was looking for an exit at the S1, but I think I got a little impatient!! Entry and exit as shown. (By the way, that bearish piercing candle would have been a Dark Cloud Cover if it had pushed down at least two thirds of the previous candle.)
Your charts and commentary are helping me and I greatly appreciate it.
Cheers
Here is the trade I took today on the EUR/USD 15 min.
Down trend, rejection from pivot, bearish engulfing and waited for move below MA and entered.
Exit @ previous low.
Coastie
- #9,817
- May 25, 2015 7:32am May 25, 2015 7:32am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} Nice trade EV, and thanks for the description and chart. Your charts and commentary are helping me and I greatly appreciate it.
- #9,818
- May 25, 2015 7:55am May 25, 2015 7:55am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} Nice trade EV, and thanks for the description and chart. Your charts and commentary are helping me and I greatly appreciate it.
- #9,819
- May 25, 2015 8:02am May 25, 2015 8:02am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
{quote} I'm sorry about that, turnip. I've had another look at the chart and I see what you're on about.
every Saint has a past. Every Sinner has a Future
- #9,820
- May 25, 2015 8:05am May 25, 2015 8:05am
{quote} Yep, nice trade. A nice engulfing candle just a couple of pips below the pivot on my chart. The MA provided a nice entry point as well. In my opinion, MA's should be added to the thread name!
How can we have it added??
