Spot on, mate. It's amazing sometimes how folks see things in different ways in this game, but always aiming for the same conclusion. Nice trade.

Psych Levels, Pivots, and Trendlines - Resurrected

A resistance break on cable.... — This trade came about after a break of the line that had proved to be a strong support, but became a resistance line after the break downwards. Price reversed and provided a perfect long entry after breaking ...

Psych Levels, Pivots, and Trendlines - Resurrected

Eur/usd 5min — A quickish sort of trade initiated by a small harami candle indicated by the arrow. Entry was just under the close of the harami. Target was the main Pivot line, but I exited as price started retreating northwards. Note how, ...

Psych Levels, Pivots, and Trendlines - Resurrected

Yes, I'm with you now. However, a bullish piercing pattern would always have 2 candles, and the dimensions would have to be spot on, otherwise it just wouldn't be a hammer. Which is probably why the experts say that the further a bullish candle ...

Psych Levels, Pivots, and Trendlines - Resurrected

Strong cable movements.... — Some really nice pull-backs on cable here, each one starting with a very bullish opening marabozu candle. From the first one, there's an equally strong pull-back, offering a great opportunity to buy right on the ...

Psych Levels, Pivots, and Trendlines - Resurrected

I'm glad you remembered the M.C.B.V., fx1. Shows you've been paying attention! However, you've lost me with the above example. Maybe you could elaborate a little? (It's my age, you know!)

Psych Levels, Pivots, and Trendlines - Resurrected

Hi jk...... — Probably because they're great charts and free, mate. Bear in mind that just because you're using FXCM, you don't have to make your decisions using their charts. You can always download MT4, set it up, and make your decisions off ...

Psych Levels, Pivots, and Trendlines - Resurrected

It's very kind of you to say so, mate, but at the same time, I'm also learning from the other guys who contribute so much to this thread. I guess we're all teaching each other! Good luck with your trading.

Psych Levels, Pivots, and Trendlines - Resurrected

Eur/usd 15m...... — Here's a trade just completed on the E/U 15m chart. The Dark Cloud Cover forming just under the confluence of the Mid-Point and the xx.50 psych-line was a perfect heads-up of what was to hopefully follow, especially with ...

Psych Levels, Pivots, and Trendlines - Resurrected

Half an hour later.... — Didn't bother in the end. Far too much congestion with no clear direction.

Psych Levels, Pivots, and Trendlines - Resurrected

Oooops.

Psych Levels, Pivots, and Trendlines - Resurrected

Will this one force the issue at 1.5900? A lower swing high to the Pivot point, between 50% and 61.8% retracements. Now we wait and see.....

Psych Levels, Pivots, and Trendlines - Resurrected

Yep, nice one, fx1. I also didn't trade the breakout for the same reason. 1.5900 proved to be a very strong support.

Psych Levels, Pivots, and Trendlines - Resurrected

Sorry........here's the chart!

Psych Levels, Pivots, and Trendlines - Resurrected

Cable..... — Descending triangle formed on cable?

Psych Levels, Pivots, and Trendlines - Resurrected

Hi fx1.... — Thanks for larger charts, mate. Much better for my tired old eyes!! Nice trades, mate.

Psych Levels, Pivots, and Trendlines - Resurrected

Morning, folks..... — A fib trade on cable just completed. Price retraced to the 38.2%/Pivot Point/xx.20 confluence, and I entered just above it. A lot of indecision in the early stages (2 dojis), but then price rose steadily until it poked ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi d-e-f........ — I use the negative entries you mention, but that's because I prefer to use them rather then the fib extensions. I've found that price reacts to these levels just the same as with the other fibs. People use the fibs in ...

Psych Levels, Pivots, and Trendlines - Resurrected

That's a nice trade, fx1. You do seem to be able to spot these fib chances in abundance, whether it's on 5m or 15m. What's your secret, mate? Are you monitoring 5m on one screen and 15m on another? Or do you constantly switch back and forth? Looking ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi Rialto..... — No, sorry, mate. I don't know of an indicator that will put the .20 and .80 psych-lines on, so I have to do it manually, I'm afraid. I've often thought it must be an easy task for one of our code writers to undertake, so I ...

Psych Levels, Pivots, and Trendlines - Resurrected