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Psych Levels, Pivots, and Trendlines - Resurrected

  • #9,961
  • Jun 2, 2015 8:10am Jun 2, 2015 8:10am
I didn't take the trade but it was good confluence between systems, with 50SMA and candle formation in play, In my chart Ive marked where my targets would have been...
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  • #9,962
  • Jun 2, 2015 8:14am Jun 2, 2015 8:14am
My NZ chart from earlier, the Kiwi checked the upper wedge, retraced back to the 50SMA, breakout above wedge and R1.

Looking on the higher timeframes, this could be the start of a little bull run. (Or large)

I will continue to watch for a nice entry..
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  • #9,963
  • Jun 2, 2015 8:20am Jun 2, 2015 8:20am
Well that was an opportunity missed, TP hit..
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  • #9,964
  • Jun 2, 2015 8:21am Jun 2, 2015 8:21am
Quoting PixeLM
EV, I'm finding the 15m TF a little erratic for now, mixed with the pivots it does give some confirmation. Do you think it will be cool if we post some T-Line trades along side our pivot trades?
I like the idea, but I still feel that Pivots are king on this thread. Suppose that we look for T-Line breakouts corresponding with a pivot? I see that you use all the MA's that Mr. Bigalow uses. Having experimented with with the T-Line, I'm happy just with the 8 and 50 MA's. What do you reckon?
  • #9,965
  • Jun 2, 2015 8:22am Jun 2, 2015 8:22am
NU M15

PA retraced to DP and tested it. Bullish harami candle formed. Entry after PA broke R1. Not sure if exit was right, closed around +30
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  • #9,966
  • Jun 2, 2015 8:24am Jun 2, 2015 8:24am
Quoting eyevoltage
{quote} I like the idea, but I still feel that Pivots are king on this thread. Suppose that we look for T-Line breakouts corresponding with a pivot? I see that you use all the MA's that Mr. Bigalow uses. Having experimented with with the T-Line, I'm happy just with the 8 and 50 MA's. What do you reckon?
Im happy with using the MA's mate, the T-Line trade I posted I showed what the corresponding Pivot chart was telling us, as you can see... it was a great trade.

I think we all know the system, so a random chart uploaded shouldn't distract too much, as long as it doesn't confuse everyone?
  • #9,967
  • Jun 2, 2015 8:27am Jun 2, 2015 8:27am
Quoting Cold_W
NU M15 PA retraced to DP and tested it. Bullish harami candle formed. Entry after PA broke R1. Not sure if exit was right, closed around +30 {image}
Great trade COLD, my chart is a little different, price didn't touch open.. 30 quick fire pips, no complaints
  • #9,968
  • Jun 2, 2015 8:32am Jun 2, 2015 8:32am
EU hitting 250+ pip move for the day... wow..
  • #9,969
  • Jun 2, 2015 8:33am Jun 2, 2015 8:33am
Quoting PixeLM
{quote} Great trade COLD, my chart is a little different, price didn't touch open.. 30 quick fire pips, no complaints
Thank you, mate. It was super quick indeed!
  • #9,970
  • Jun 2, 2015 8:35am Jun 2, 2015 8:35am
Quoting Cold_W
{quote} Thank you, mate. It was super quick indeed!
They are the best mate, If price keeps going.. Don't be disheartened. You had a plan and executed it, keeping to your plan is the key!
  • #9,971
  • Jun 2, 2015 8:35am Jun 2, 2015 8:35am
Quoting Cold_W
NU M15 PA retraced to DP and tested it. Bullish harami candle formed. Entry after PA broke R1. Not sure if exit was right, closed around +30 {image}
Nice trade, mate. That was a lovely bullish harami, followed by a massive Marabozu candle.
  • #9,972
  • Jun 2, 2015 8:38am Jun 2, 2015 8:38am
Quoting eyevoltage
{quote} Nice trade, mate. That was a lovely bullish harami, followed by a massive Marabozu candle.
Thank you, EV. It's really important for me to hear what you think.

Quoting eyevoltage
{quote} Nice trade, mate. That was a lovely bullish harami, followed by a massive Marabozu candle.
BTW, where would you look for exit on this trade?
  • #9,973
  • Jun 2, 2015 8:46am Jun 2, 2015 8:46am
Cold, I know you asked EV, but I think your target was spot on considering NZ GDT price index is flagged for release soon.
  • #9,974
  • Jun 2, 2015 8:52am Jun 2, 2015 8:52am
Quoting Cold_W
{quote} Thank you, EV. It's really important for me to hear what you think. {quote} BTW, where would you look for exit on this trade?
Basically, next line up (midpoint). Around 17 pips or so, I think, but seeing as price carried on to R2 before collapsing again, maybe it would have been worthwhile to stay in, with your finger on the "get out" trigger!!
  • #9,975
  • Jun 2, 2015 8:55am Jun 2, 2015 8:55am
Quoting PixeLM
Cold, I know you asked EV, but I think your target was spot on considering NZ GDT price index is flagged for release soon.
It looks OK now
  • #9,976
  • Jun 2, 2015 8:56am Jun 2, 2015 8:56am
Quoting eyevoltage
{quote} Basically, next line up (midpoint). Around 17 pips or so, I think, but seeing as price carried on to R2 before collapsing again, maybe it would have been worthwhile to stay in, with your finger on the "get out" trigger!!
Thank you.
  • #9,977
  • Jun 2, 2015 9:01am Jun 2, 2015 9:01am
One of my thoughts when opening a trade is how far is my SL? I want my TP to at least be the same as the SL to give me a 1:1 R:R. Considering your entry candle was so big, this indicates good volatility, so the target in my view was acceptable.

Ive asked this question before, sometimes aiming for the next level is good, but depending on the PA you might want to consider going for the next major Level and once price closes above the midpoint, move SL to BE.
  • #9,978
  • Jun 2, 2015 9:03am Jun 2, 2015 9:03am
haha, not trying to reinvent the wheel either... I know EV is an old hand at this but hopefully we can have some good discussion about it in future trades
  • #9,979
  • Jun 2, 2015 9:09am Jun 2, 2015 9:09am
Quoting PixeLM
I didn't take the trade but it was good confluence between systems, with 50SMA and candle formation in play, In my chart Ive marked where my targets would have been... {image}
There were tweezer bottoms candles right on 50 MA on my chart!
  • #9,980
  • Jun 2, 2015 9:13am Jun 2, 2015 9:13am
Quoting Cold_W
{quote} There were tweezer bottoms candles right on 50 MA on my chart!
Yes I had them too, I have a bad habit of calling them pins
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