Gday everyone!! I placed this trade last night. EUR 5 min chart Price bounced off previous support with an engulfing candle, I waited for a trend line break and entered. SL below the swing and TP was at previous resistance. {image} Cheers Coastie
Psych Levels, Pivots, and Trendlines - Resurrected
- #11,361
- Jun 7, 2016 5:36am Jun 7, 2016 5:36am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
- #11,362
- Edited 7:56am Jun 7, 2016 7:45am | Edited 7:56am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m................. EJ
A rather impressive channel formed from just above FPV and reached R2. Price then dropped and broke down across R1, the 50ema and the lower channel line, followed by a nice impressive drop to FPV. Entry and exit as indicated.
A rather impressive channel formed from just above FPV and reached R2. Price then dropped and broke down across R1, the 50ema and the lower channel line, followed by a nice impressive drop to FPV. Entry and exit as indicated.
- #11,363
- Jun 7, 2016 1:05pm Jun 7, 2016 1:05pm
15m................. EJ A rather impressive channel formed from just above FPV and reached R2. Price then dropped and broke down across R1, the 50ema and the lower channel line, followed by a nice impressive drop to FPV. Entry and exit as indicated.
Nice trade EV, looks like nearly 40 pips in that move.
- #11,364
- Jun 8, 2016 4:10am Jun 8, 2016 4:10am
My trade for tonight was a long on the EURUSD 5min chart. (no surprise!!!
)
We had a couple of long wicks/ rejection off previous lows and TP finally got hit which was yesterdays high.
Since EURUSD has been in a tight range since the jump a few days ago the TP was only 11 pips and SL was 6 pips.
Not a huge effort but you have take what the market has to offer.
Happy trading
Cheers
)We had a couple of long wicks/ rejection off previous lows and TP finally got hit which was yesterdays high.
Since EURUSD has been in a tight range since the jump a few days ago the TP was only 11 pips and SL was 6 pips.
Not a huge effort but you have take what the market has to offer.
Happy trading
Cheers
- #11,366
- Jun 13, 2016 1:20am Jun 13, 2016 1:20am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m.... UJ
Nice reversal pattern at S4 initiated this trade. Entry and exit as shown.
Nice reversal pattern at S4 initiated this trade. Entry and exit as shown.
- #11,367
- Jun 15, 2016 1:16am Jun 15, 2016 1:16am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m...... GJ
This one I missed. Price pushed up across FPV, then spent a couple of hours getting back before it headed upwards to R1. The interesting thing is the reversal pattern on FPV. A bearish candle, followed by a doji, and then a bullish candle. The result would have been worth in the region of 50 pips or so!!
This one I missed. Price pushed up across FPV, then spent a couple of hours getting back before it headed upwards to R1. The interesting thing is the reversal pattern on FPV. A bearish candle, followed by a doji, and then a bullish candle. The result would have been worth in the region of 50 pips or so!!
- #11,368
- Jun 16, 2016 4:36am Jun 16, 2016 4:36am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m...... EU
Following the fall from the FPV, price settled at S1 for around 45 minutes before dropping down below S2, where I jumped ship.
Following the fall from the FPV, price settled at S1 for around 45 minutes before dropping down below S2, where I jumped ship.
- #11,369
- Jun 21, 2016 3:56am Jun 21, 2016 3:56am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m..... UJ
Bullish flag pattern across MR1, and price then moved up nicely to R1. Entry and exit as shown.
Bullish flag pattern across MR1, and price then moved up nicely to R1. Entry and exit as shown.
- #11,371
- Jun 22, 2016 1:19am Jun 22, 2016 1:19am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Hi eyevolatage! How are you? This is very nice thread. You look for pattern on Pivot Point lines and 00, 50 number lines, right? It is that simple? Where you put your SL? And, what is your avarge R:R with this method? eyevoltage, you once said that, you do not recommond this method to use to make a living? Why you said that, if it is not a private question? I mean, you have very nice results, and I dont see a reason why you cant make a living trading this method. Can you explain me? Thanks! Good luck!
will tell me whether or not price might possibly reverse or continue up or down. Pretty simple, really. As for R:R decisions......I don't stick to a rigid R:R regime.
I make that decision with each trade. As for making a living with this method, that's up to those who want or need to. Personally, I use it as a
supplement to my income.
Best of luck, sk.
- #11,372
- Jun 22, 2016 3:38am Jun 22, 2016 3:38am
{quote} Hello, sk. Welcome. Whether I'm using pivots or psych-lines, I'm always watching for candlestick patterns or trendline patterns at those levels which will tell me whether or not price might possibly reverse or continue up or down. Pretty simple, really. As for R:R decisions......I don't stick to a rigid R:R regime. I make that decision with each trade. As for making a living with this method, that's up to those who want or need to. Personally, I use it as a supplement to my income. Best of luck, sk.
Thanks!
- #11,373
- Jun 22, 2016 4:59am Jun 22, 2016 4:59am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} Thank you eyevoltage. How you know which breakout of trendline (channel) is good? Hou do you know it is not false breakout? Thanks!
- #11,374
- Jun 22, 2016 5:07am Jun 22, 2016 5:07am
{quote} You don't. It's not the break-out that's important. It's what follows. Some break-outs just crash out and keep on going. Others break the line and then reverse to test the TL for resistance or support, depending on which way it's heading.
Thank you, eyevoltage!
- #11,375
- Jun 22, 2016 5:25am Jun 22, 2016 5:25am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
{quote} On EURUSD m15 we have rendline break. There is doji on big round number and bearish engulfing candlestick. Is this good trade? Thank you, eyevoltage!
- #11,377
- Jun 22, 2016 6:21am Jun 22, 2016 6:21am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
- #11,378
- Jun 22, 2016 6:30am Jun 22, 2016 6:30am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
- #11,380
- Jun 28, 2016 5:56am Jun 28, 2016 5:56am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
15m...... GU
Price moved up and down just above FPV, and then moved up further, developing a symmetrical triangle. Price then broke out towards R1. Entry and exit as shown.
Price moved up and down just above FPV, and then moved up further, developing a symmetrical triangle. Price then broke out towards R1. Entry and exit as shown.
