Triple top above pivot, TL break
Attached Image (click to enlarge)
Psych Levels, Pivots, and Trendlines - Resurrected
{quote} Frankly, I don not follow what exactly it is; I called them jointly "animals", as they morph constantly.... Shoot me a PM with email address. Wanted to post book on harmonics, but it is over limit of this forum.
- #10,710
- Sep 10, 2015 3:18am Sep 10, 2015 3:18am
- Joined Jan 2010 | Status: Trader | 2,021 Posts
Morning Folks !!! Lets all have a nice trading day !!! https://www.youtube.com/watch?v=rYED...hRWRvv8BT1uoif
- #10,713
- Sep 10, 2015 5:23am Sep 10, 2015 5:23am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Morning, folks. Not been on for a while, but I'm happy to see that there's been plenty of activity on here!! 
I'm leaving Pivots alone from now on. Seeing as the thread title includes Psych-lines, that's what I'm concentrating on from now on, and I'm finding that it's yielding some very good trades. I'm only using 00 and 50 psychs. As you can see on this example, there was consolidation on 185.50 ahead of a drop ending with a spinning top. Price then moved upwards and crossed 185.50. My entry is shown, but I think I was a little early, to be honest. However, price struggled upwards to 186.00 where a dragon-fly doji formed before price carried on upwards to just above 186.50, where I exited the trade.
This is just an example of what can be achieved by using just two major psych-lines. The advantage is that they stay where they are, unlike pivot lines, so it's easier to weigh up potential trades.
I'm leaving Pivots alone from now on. Seeing as the thread title includes Psych-lines, that's what I'm concentrating on from now on, and I'm finding that it's yielding some very good trades. I'm only using 00 and 50 psychs. As you can see on this example, there was consolidation on 185.50 ahead of a drop ending with a spinning top. Price then moved upwards and crossed 185.50. My entry is shown, but I think I was a little early, to be honest. However, price struggled upwards to 186.00 where a dragon-fly doji formed before price carried on upwards to just above 186.50, where I exited the trade.
This is just an example of what can be achieved by using just two major psych-lines. The advantage is that they stay where they are, unlike pivot lines, so it's easier to weigh up potential trades.
- #10,714
- Edited 6:52am Sep 10, 2015 5:48am | Edited 6:52am
- Joined Aug 2010 | Status: EsikeTrader | 2,227 Posts
Time always comes before price
- #10,715
- Edited 7:34am Sep 10, 2015 6:32am | Edited 7:34am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m...... GJ
Another good trade on offer, but I missed it due to other business.
A consolidation along the 186.50 line before price pushed up to well above the 187.00 line before falling back. Suggested entry as shown.
A potential 60-odd pips trade missed!
Another good trade on offer, but I missed it due to other business.
A consolidation along the 186.50 line before price pushed up to well above the 187.00 line before falling back. Suggested entry as shown.
A potential 60-odd pips trade missed!
- #10,716
- Sep 10, 2015 7:03am Sep 10, 2015 7:03am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m...... EUR/AUD
40-odd pips from trading off a trendline.
40-odd pips from trading off a trendline.
- #10,718
- Sep 10, 2015 8:07am Sep 10, 2015 8:07am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Took a dive with UJ. UJ 5m Break of level, entry, exit after stall around MR1 , considering left..... {image}
- #10,719
- Sep 10, 2015 8:16am Sep 10, 2015 8:16am
- Joined Jan 2010 | Status: Trader | 2,021 Posts
{quote} Nice uncomplicated trade, snail. Spot on!!
- #10,720
- Sep 10, 2015 8:21am Sep 10, 2015 8:21am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} Had a good teacher, I guess, since 2010 or so .....LOL pst... his name is EV
