Psych Levels, Pivots, and Trendlines - Resurrected | Page 526 | Forex Factory

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Psych Levels, Pivots, and Trendlines - Resurrected

  • #10,501
  • Aug 4, 2015 7:12am Aug 4, 2015 7:12am
Good morning guys,

EJ: Failed trade, after bounce of 13ma + psych level I waited for price to clear MS1 and entered, however price reversed on me on the very same candle and took me out for a loss on the very next candle. Any thoughts? PS: (took similar setup on the EU for the same result)
Attached Image
  • #10,502
  • Aug 4, 2015 8:13am Aug 4, 2015 8:13am
Quoting fuzz
Good morning guys, EJ: Failed trade, after bounce of 13ma + psych level I waited for price to clear MS1 and entered, however price reversed on me on the very same candle and took me out for a loss on the very next candle. Any thoughts? PS: (took similar setup on the EU for the same result) {image}
Hi Fuzz. After that strong bullish candle pierced the mid-point, you were presented with a red doji. I would have wanted the next candle to show some real bullish strength before entering a trade. Doesn't look as if it did, and that would have kept my finger away from the mouse!! Just my opinion, my friend.
  • #10,503
  • Aug 4, 2015 8:17am Aug 4, 2015 8:17am
Quoting eyevoltage
{quote} Hi Fuzz. After that strong bullish candle pierced the mid-point, you were presented with a red doji. I would have wanted the next candle to show some real bullish strength before entering a trade. Doesn't look as if it did, and that would have kept my finger away from the mouse!! Just my opinion, my friend.
You mean you wouldn't have entered on the break of doji but instead waited for the close of the bar before considering a enter?
  • #10,504
  • Aug 4, 2015 8:19am Aug 4, 2015 8:19am
Quoting fuzz
{quote} You mean you wouldn't have entered on the break of doji but instead waited for the close of the bar before considering a enter?
More or less, yes.
  • #10,505
  • Aug 4, 2015 8:21am Aug 4, 2015 8:21am
Quoting eyevoltage
{quote} More or less, yes.
Thanks man, I find harder to enter setups that doesn't present any sort of pullback to a pivot point.
  • #10,506
  • Edited 6:26pm Aug 4, 2015 2:10pm | Edited 6:26pm
EURUSD M15 SHORT

symmetrical |> breakdown below mS1.
entry and exits as marked.
sweet painless trade.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_M15_20150804.png Size: 19 KB
  • #10,507
  • Aug 5, 2015 2:14am Aug 5, 2015 2:14am
Quoting fuzz
Good morning guys, EJ: Failed trade, after bounce of 13ma + psych level I waited for price to clear MS1 and entered, however price reversed on me on the very same candle and took me out for a loss on the very next candle. Any thoughts? PS: (took similar setup on the EU for the same result) {image}
Hi mate!!! You bought right in to reversal. That is not a part of this thread, but if you see S/R on higher time frame, and reversal pattern lines up on M15, that is gonna be high profit trade ))))

Cheers mate !!!
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYM15.png Size: 69 KB
  • #10,508
  • Aug 5, 2015 10:37am Aug 5, 2015 10:37am
eurjpy m5 long

this sym |> b/o didn't seem to have much strength.
it still didn't disappoint with 15 pips in about 20 mins.
entry and exit as marked.

Attached Image
  • #10,509
  • Edited 4:02pm Aug 5, 2015 3:50pm | Edited 4:02pm
eurjpy m15 long

after the |> b/o trade posted earlier, price paints a down-sloped wedge.
b/o above the wedge and mR1 provides another long entry at 135.83
exit at 136.18 near confluence of mR2 and res. area (red band above) coming from 3-Aug.
a more substantial one (35 pips) this time...

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_M15_20150805_2.png Size: 18 KB
  • #10,510
  • Aug 5, 2015 4:13pm Aug 5, 2015 4:13pm
Nice trades, pgd. Hope you and yours are well, me old mate.
  • #10,511
  • Aug 5, 2015 4:25pm Aug 5, 2015 4:25pm
Quoting eyevoltage
Nice trades, pgd. Hope you and yours are well, me old mate.
thanks, brother.
all well. your good wishes help.
  • #10,512
  • Aug 6, 2015 12:38am Aug 6, 2015 12:38am
some nice trades there guys!.

pgd,
nice colour scheme. it makes the price action look very clear.
What MA's do you use?
Cheers
Coastie
  • #10,513
  • Aug 6, 2015 4:43am Aug 6, 2015 4:43am
Quoting fxnikolaev
{quote} Hi mate!!! You bought right in to reversal. That is not a part of this thread, but if you see S/R on higher time frame, and reversal pattern lines up on M15, that is gonna be high profit trade )))) Cheers mate !!! {image}
Yeah, I think you're right pal. Thanks for the input
  • #10,514
  • Edited 9:37am Aug 6, 2015 8:58am | Edited 9:37am
15m...... GBP/CHF

After price fell away from the 50sma and formed a harami candle, it went on to breach the Main Pivot line, and I entered as indicated. There was a brief half-hearted test for resistance, and then price continued down. Entry and exit as shown.

Attached Image
  • #10,515
  • Aug 6, 2015 9:35am Aug 6, 2015 9:35am
Quoting eyevoltage
15m...... GBP/CHF After price fell away from the 50sma and breached the Main Pivot line, I entered as indicated. There was a brief half-hearted test for resistance, and then price continued down. Entry and exit as shown. {image}
Very nice straight forward trade
  • #10,516
  • Aug 6, 2015 11:31am Aug 6, 2015 11:31am
Quoting eyevoltage
15m...... GBP/CHF After price fell away from the 50sma and formed a harami candle, it went on to breach the Main Pivot line, and I entered as indicated. There was a brief half-hearted test for resistance, and then price continued down. Entry and exit as shown. {image}
Niceeeee !
  • #10,517
  • Edited 12:52pm Aug 6, 2015 12:39pm | Edited 12:52pm
Quoting coastie
some nice trades there guys!. pgd, nice colour scheme. it makes the price action look very clear. What MA's do you use? Cheers Coastie
coastie,

thanks, a pleasant colour scheme does help. while we may not realise this, it is certainly a constant input that contributes to our response system and consequently our responses (in this case, trading decisions).

those are ema12 and ema26, the ones traditionally used by macd.
  • #10,518
  • Edited 5:17am Aug 7, 2015 4:57am | Edited 5:17am
EURJPY M5 LONG

this one was pretty straight forward.
bullish divergence, bounce off pivot, counter trend line b/o.
entry, exit marked.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_M5_20150807.png Size: 31 KB
  • #10,519
  • Aug 7, 2015 5:38am Aug 7, 2015 5:38am
eurjpy M1 short

this one came back to back after the long posted above (#10518)
several long upper wicks at R1 (see chart at stated post) made it worthwhile to drop down to M1 for an entry.

it worked:

bearish divergence, followed by mini trend line break.

entry: 136.47
exit : 136.20 (near pivot).

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_M1_20150807_2.png Size: 41 KB
  • #10,520
  • Edited 10:34am Aug 7, 2015 8:13am | Edited 10:34am
Morning Folks, 2 trades today

First:
Bounce of Main PP, entry after break of TL and exited 50% a bit too early and rest set to BE before news, luck me because price dropped like a stone

Second:

Price formed a inverted hammer near pretty strong support 1.0862 with confluence of Middle Pivot 2, entry after bullish confirmation and exit as marked on chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd-m15-fxopen-investments-inc.png Size: 17 KB
Click to Enlarge Name: eurusd-m15-fxopen-investments-inc (1).png Size: 20 KB
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