Good day guys! — Here's a fib trade. Cable made a higher swing low and 76.4% retracement. Bought after price crossed the high of the 3rd candle in the higher swing low formation. TP was placed and hit at psyche level-1.6650. As I type this ...

Psych Levels, Pivots, and Trendlines - Resurrected

You're right Vantage. It made a higher swing low and a bounce off of the rising TL making 76.4% retracement. Continued up to conflunce of R1-1.6103, psyche level-1.6100 and visual resistance level. It just hit 100% extension (123.6% level) before ...

Psych Levels, Pivots, and Trendlines - Resurrected

Nice one EV! We could also apply fib analysis to that move considering that it made a higher swing low.

Psych Levels, Pivots, and Trendlines - Resurrected

Descending Triangle — Cable has formed a small descending triangle formation. With a tweezer bottom at the floor and spinning top candles. Let's see what happens.

Psych Levels, Pivots, and Trendlines - Resurrected

You take some, you give some — Bought after price crossed above the high of the 2nd in the tweezer bottom. This also forms a double bottom. TP was at R1. Never really got there. Gave up some pips. Closed when it came back to the psyche level. ...

Psych Levels, Pivots, and Trendlines - Resurrected

.. Excellent analysis Islander! Are you using 8 EMA coz of its relation to the fib sequence? I think EV is using it also, but at M5.

Psych Levels, Pivots, and Trendlines - Resurrected

76.4% retracement — Here's a fib trade. Cable made a 76.4% retracement. Bought after price crossed above the spinning top and psyche level-1.6050. TP was placed and hit at psyche level-1.6150 just below 100% extension. Looks like price rose to ...

Psych Levels, Pivots, and Trendlines - Resurrected

Wow! Look at it move up! Edit: It looks like it's meeting resistance at the previous swing high.

Psych Levels, Pivots, and Trendlines - Resurrected

Good day guys! — Excellent trades guys! I wasn't able to get back to trading last night. Here are a couple of trades. First one is a sell stop 2 bid points below the 1.6000 psyche level. A descending triangle formation was formed. Price then ...

Psych Levels, Pivots, and Trendlines - Resurrected

.. Chart formations which are a bit unclear as that one is prone to varying subjective interpretation. Best of luck to you Ed! Visit us anytime.

Psych Levels, Pivots, and Trendlines - Resurrected

You could be right EV. It does look like a descending triangle. Good eye! If so, it's good to look for a possible break downwards 1/3 from the apex of the triangle.

Psych Levels, Pivots, and Trendlines - Resurrected

Hi Ed! That looks a bit like a small ascending triangle formation. If price crossed the ceiling of that formation. There's a high probability of price going up. If I'm not mistaken that's a M30 EURUSD chart. I just pulled up a chart and its looking ...

Psych Levels, Pivots, and Trendlines - Resurrected

Currently long from 1.5531. Edit: Moved Stop to BE. Edit: Exit @ 1.5587. Edit: I was looking at a possible continuation of the previous uptrend after a 76.4% retracement. I might have pulled the plug a bit earlier after seeing a strong move down at ...

Psych Levels, Pivots, and Trendlines - Resurrected

Goodluck with you're work Islander! I hope to see more of your charts and analysis soon.

Psych Levels, Pivots, and Trendlines - Resurrected

Good day guys! — Excellent trades EV! Here's my first trade of the day. Bought after price crossed above the ceiling of an ascending triangle formation. TP was hit 2 bid points below the central pivot-1.5566 before the tweezer top. After the ...

Psych Levels, Pivots, and Trendlines - Resurrected

Signing off — Last trade of the day guys. Bought after price crossed above the TL for the 2nd time seeing a potential for the continuation of the short term uptrend inside the flag. TP at 100% level. Pulled the plug when price went back to the ...

Psych Levels, Pivots, and Trendlines - Resurrected

Looks like the lower rising TL of the flag has been broken EV. But it looks like price is coming back to the broken TL. Lets see if the TL resists the rise of price.

Psych Levels, Pivots, and Trendlines - Resurrected

.. Thanks Vantage.

Psych Levels, Pivots, and Trendlines - Resurrected

Psyche levels with patterns — Bought 2 bid points above the psyche level-1.5400 which incidentally is the ceiling of this small ascending triangle pattern at M15, inside the flag pattern. TP was placed and hit at psyche level-1.5450 just below ...

Psych Levels, Pivots, and Trendlines - Resurrected

Just got back at my screen — You're right EV. Let's see what happens.

Psych Levels, Pivots, and Trendlines - Resurrected