Hi Ed.... — Looking at your chart, I see TWO inverted hammers, both opening and closing just below the 1.4565 line, although the second one is more like a high wave candle, Ed. Doesn't matter though, because the HW candle is another of those ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi again.... — Just got back to the screen, and it certainly looks as if that TL's still holding, mate. On the other hand, I see price made a quite hefty drop down to 1.7984 before starting to pull back. Your triangle is getting narrower, ...

Psych Levels, Pivots, and Trendlines - Resurrected

It's a pleasure... — Glad to help, old chap. Another attraction of this method is the complete absence of any indicator boxes; something I've been growing increasingly disenchanted with over a period of time. Reading the old-timers on here, ...

Psych Levels, Pivots, and Trendlines - Resurrected

Thanks.......... — Many thanks for the chart, mate. Up until relatively recently, I've been monitoring 3 pairs (gbpusd, eurusd and usdjpy), but I cut it down to the first two a couple of weeks ago. However, I think I'm rapidly coming round to ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi fx1 — Any chance of seeing your chart for that trade, mate? I'm interested in your fib lines, and where you draw them from. I'm always interested in how other people do it! Nice trade, by the way. Cheers

Psych Levels, Pivots, and Trendlines - Resurrected

Finally, an opportunity..... — Eur/usd had an upwards mini-trend, and I was waiting for a break under. I drew a small support line from the spinning-top low and entered as price broke through it. The target was, unsurprisingly, the S1 line, ...

Psych Levels, Pivots, and Trendlines - Resurrected

Morning, Ed...... — Thanks, mate, same to you. Labour Day over there, so you'll have your feet up all day, I'll bet?

Psych Levels, Pivots, and Trendlines - Resurrected

Hi fx1.... — Good plan, mate, although I don't think it'll happen today, possibly because it's Labour Day over in the States. As I type this, price is stuck in a range just under the S2 line, and seeing as we should be short trade biased at ...

Psych Levels, Pivots, and Trendlines - Resurrected

Morning, Ed..... — Boy, you guys get up early in the morning! The hammer was the initial "heads-up", mate, and generally, the next candle should be looked upon as confirmation of the reversal. Therefore, the next candle after that would have ...

Psych Levels, Pivots, and Trendlines - Resurrected

Good trade, Islander.... — ........and I'll have to keep my eyes open for those bounces off 0.85 levels after breaches of .00 levels. Something I've never really noticed before. Thanks for that, mate.

Psych Levels, Pivots, and Trendlines - Resurrected

Candlestick reversals....... — This is a great candlestick reversal example from usd/jpy that started around an hour ago. A lovely hammer right on the .50 psych line, followed by a bullish engulfing candle. What more does one need?

Psych Levels, Pivots, and Trendlines - Resurrected

Hi Ed..... — Nice trade, mate, and yes, you've seen the power of confluences! They're magic! Plus, you've done something I've never done; placed a trade and gone to bed. As you say in Number 2 above, monitor PA for best results. There are ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi Islander....... — Thanks for your posts, mate, and the chart, plus description. I'd never thought about looking at the Dow, FTSE or anything else, for that matter. Just Forex, but I guess Pivots, Sweetspots and Fibs will work with them just ...

Psych Levels, Pivots, and Trendlines - Resurrected

CHEERS!! — Either would be perfectly acceptable, Ed, although Boddie's IS from my home town (Manchester), so I'd prefer that. What's YOUR favourite tipple?

Psych Levels, Pivots, and Trendlines - Resurrected

A fib chart...... — I love trying to find these short-term opportunities. My entry would have been where the arrow is, next to the Dark Cloud Cover candlestick. Getting out before the small retracement would have netted around 20-odd pips, and ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi Islander... — Nice trades, mate, and it's good to see you're taking the fibs into account. It'd be nice to see some more charts from you, Islander. Cheers

Psych Levels, Pivots, and Trendlines - Resurrected

Sorry....... — It would help enormously if one supplied a chart to go with the description!!

Psych Levels, Pivots, and Trendlines - Resurrected

Entry point.... — If you look at my chart, Ed, look for the magenta arrow (after the high wave/spinning top candle), and that's where I would have entered, purely and simply because there was a potential 20-odd pips on offer before price hit ...

Psych Levels, Pivots, and Trendlines - Resurrected

Ah, shucks....... — Thank you, Ed, and I really do appreciate your kind comments. I've been thinking about posting a chart or two with some fib retracement trades, incorporating candlesticks. I know that acumen entitled this thread "Psych ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi bk... — Let's just say that I try NOT to trade at those times. However, there are times that I see a good opportunity, forget everything I've learned, and live to regret it! NOT recommended. Hope that answers your question. Cheers

Psych Levels, Pivots, and Trendlines - Resurrected