Psych Levels, Pivots, and Trendlines - Resurrected | Page 558 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD

Similar Threads

Adr, psych levels, demand & supply trading 15 replies

Standard Pivots and Fibonnaci Pivots? 9 replies

EUR/USD 5min - Trendlines and Pivots 379 replies

Important psych levels 1 reply

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Attachments: Psych Levels, Pivots, and Trendlines - Resurrected
Exit Attachments

Psych Levels, Pivots, and Trendlines - Resurrected

  • #11,141
  • Feb 1, 2016 2:10pm Feb 1, 2016 2:10pm
Quoting turnip15
{quote} You might find this week is busy regarding announcements etc -then the rate/number of high risk announcements should slow down a bit:-)
This is Good news

6B

Toke trade after the news. Long bounce of 1.435. Initial target was R1 but as I needed to leave home I closed trade at previous high.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 34 KB
I might be wrong , I have been wrong before
  • #11,142
  • Feb 2, 2016 2:34am Feb 2, 2016 2:34am
6B

Toke short trade before the news.
1.44 as resistance level PP as target.

Its so easy to trade with levels
Between 25.01-02.02
I have made 17 trades with 70 % profitable.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 35 KB
I might be wrong , I have been wrong before
  • #11,143
  • Feb 2, 2016 3:14am Feb 2, 2016 3:14am
Nice setup again. Good example how market moves from level to level from line to line.
PP as resistance 1,435 as target.

I didn't take this one because it was too close to news.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 37 KB
I might be wrong , I have been wrong before
  • #11,144
  • Feb 2, 2016 3:50am Feb 2, 2016 3:50am
hi folks,
forex factory has been a great resource to me over the years and i want to pay it forward. i use floor pivots, and have heard the question asked what time should i use?
the general answer is 5:00p NY est. some pivot indicators allow for time zone adjustment but they never quite lined up to the ny pivots i was looking at from other resources.
heres what i found; if your broker uses daily est close i.e 12:00am est then set your pivot offset to +2 this should show as 1700 on mt4 time when you cursor that candle
if your broker closes at gmt 12:00a set your offset to +2 this should show 2200 on mt4 when you cursor it.
hope this info can be useful
thanks
  • #11,145
  • Feb 2, 2016 6:52am Feb 2, 2016 6:52am
Missed 2 nice setups while I was taking my regular 7 km run.

Longs with confluence target M3 + yesterdays high.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 37 KB
I might be wrong , I have been wrong before
  • #11,146
  • Feb 2, 2016 8:08am Feb 2, 2016 8:08am
Sometimes it works sometimes it does not

Long doij at previous swing low with target 1.44
Reversed short with PP as target.

Maybe I shoud have payed attention to trend
Price was making lower highs and lower lows.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 38 KB
I might be wrong , I have been wrong before
  • #11,147
  • Feb 2, 2016 9:52am Feb 2, 2016 9:52am
Is getting really boring
Market give me a challenge

Short - 1,44 acting as resistance and PP as target

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 39 KB
I might be wrong , I have been wrong before
  • #11,148
  • Feb 2, 2016 10:33am Feb 2, 2016 10:33am
Run some stats today.
10 years daily data about 6B = " GBP / USD "

Percent of time pivot point is crossed
R1 - 44,75
M3 - 68,64
PP - 75,11
M2 - 68,72
S1 - 44,41

Trade from PP to M3 or PP to M2 is sure thing
I might be wrong , I have been wrong before
  • #11,149
  • Feb 2, 2016 10:45am Feb 2, 2016 10:45am
Mandariin, it's good to see your charts, mate. However, I'm sorry, mate, but they're playing hell with my old eyes! Couldn't you brighten them up a bit and make them easier to read? Oh, and by the way, a 50sma would be very useful to you regarding trend.
Hope you don't mind my comments, mate.
  • #11,150
  • Feb 2, 2016 11:02am Feb 2, 2016 11:02am
Eyevoltage

Comments are always welcome. About 50sma, it can be helpful and also it can confuse me. I read somewhere one idea. What will you do if 50sma is not invented yet ? You learn to trade without it. And I try do to it.

About charts it odd thing. Before I upload them they are clear but inside the post they look indeed blur. But if you click on chart then new window opens and if you click again on the chart it makes it bigger and clear.

I don't know how to make them better, if you provide tips and trick I will try.
I might be wrong , I have been wrong before
  • #11,151
  • Edited 4:57pm Feb 2, 2016 11:52am | Edited 4:57pm
Thanks for that, Mandariin. Re the 50sma.....if it's there, then use it. That's the way I look at it, my friend. It's very useful for determining the trend, and also it frequently provides support and resistance for price. As for your charts, I always enlarge them, but they look just the same to me. Unfortunately, you don't use MT4, so I don't have a clue as to how you can adjust your charts. With MT4 it's so easy to adjust the charts to one's own preference. So I guess I'll have to keep squinting.
  • #11,152
  • Feb 2, 2016 2:16pm Feb 2, 2016 2:16pm
Eyevoltage

Thank you for recommending moving average but I have to pass on it. I have traded with moving averages and they provide me more headache than help. I have taken 20 trades according to this thread "pivot points system" 70 % of winners and managed to do it without moving average.

About chart , this is as good I get it.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 93 KB
I might be wrong , I have been wrong before
  • #11,153
  • Feb 3, 2016 3:18am Feb 3, 2016 3:18am
15m...... USD/CAD

Back to Pivots...................Price came down and pushed down through the confluence of the 50sma and MR1. After a brief resistance test, price continued down and I exited around the MPP.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad0011.png Size: 57 KB
  • #11,154
  • Feb 3, 2016 4:06am Feb 3, 2016 4:06am
Nice trade EV
  • #11,155
  • Feb 3, 2016 4:13am Feb 3, 2016 4:13am
Quoting eyevoltage
15m...... USD/CAD Back to Pivots...................Price came down and pushed down through the confluence of the 50sma and MR1. After a brief resistance test, price continued down and I exited around the MPP. {image}
My read : 50sma sloping higher + confluence MR1 + doij above 50sma = market must bounce I must buy
That's way I don't use 50sma because I don't know how to read it. I know that with lot of practice I can learn how to use 50sma.

And I remember your print screens with 13ema + 34ema. Perfect trades in my eyes.
You are Master trader with moving averages.
I might be wrong , I have been wrong before
  • #11,156
  • Feb 3, 2016 4:17am Feb 3, 2016 4:17am
Long at confluence area yesterdays high + 1,445 with target R1

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 71 KB
I might be wrong , I have been wrong before
  • #11,157
  • Feb 3, 2016 5:52am Feb 3, 2016 5:52am
Hesitated to take this one.
Nice sideways correction long with target 1,45

With more sreentime I will get more confident to take them.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 69 KB
I might be wrong , I have been wrong before
  • #11,158
  • Feb 3, 2016 7:56am Feb 3, 2016 7:56am
Quoting Mandariin
{quote} My read : 50sma sloping higher + confluence MR1 + doij above 50sma = market must bounce I must buy That's way I don't use 50sma because I don't know how to read it. I know that with lot of practice I can learn how to use 50sma. And I remember your print screens with 13ema + 34ema. Perfect trades in my eyes. You are Master trader with moving averages.
Mandariin, 50sma going up, and the confluence right across the MR1. In a position like that, one has to wait to see which way price is likely to go before any decision can be taken. In this case, instead of your forecast, it went bearish and dropped like a stone to the MPP. Still, we all have our own ways of doing things!
I remember those 13 and 34 emas from many moons ago. I picked them because they are Fibonacci numbers, and yes, they seemed to work pretty well.
  • #11,159
  • Feb 3, 2016 8:29am Feb 3, 2016 8:29am
I have confession to make ...
I love pivots, I love x.x100 and x.xx50 levels

Long higher low and target 1,455

I encourage you 5 trades viewing now to become member of FF and start to learn how price moves between pivot points and psych levels.
This is not my private journal

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 70 KB
I might be wrong , I have been wrong before
  • #11,160
  • Feb 3, 2016 9:04am Feb 3, 2016 9:04am
News or no news .

Long higher low from 1,455 with target R3

Market was really strong today.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 71 KB
I might be wrong , I have been wrong before
0 traders viewing now