Interesting situation.... — Which way will it go? Up or down? We've had a retrace off the .00 psych line, and now we wait to see whether price is going to break up, or continue down and breach the psych line. If it does one, then a long trade ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi Ed..... — Yep, the piercing patterns will work at the top of a peak or the bottom of a trough, mate. Except the one at the top of the peak (bearish piercing pattern) is usually known as "dark cloud cover".....according to the Japanese, ...

Psych Levels, Pivots, and Trendlines - Resurrected

A nice reversal example.... — For those interested in Candlestick reversals, here's one from Cable a short time ago. Actually, it's a "two-in-one" situation, because there's a "bullish piercing pattern" that formed from a "tweezer" situation. ...

Psych Levels, Pivots, and Trendlines - Resurrected

I really must..... — ...........get these bloody specs changed!! I thought the time on your post was 03:00, mate! Another nice trade, though. Well done! Cheers

Psych Levels, Pivots, and Trendlines - Resurrected

Nice trades, matsf...... — That second one in particular was tailor-made after that shooting star on the .50 psych line! Nice one. What were you doing up at that time of the morning anyway?

Psych Levels, Pivots, and Trendlines - Resurrected

Thank you for your kind comments. I've learned so much on FF from other people, and it feels good to be able to give something back. Cheers for now.

Psych Levels, Pivots, and Trendlines - Resurrected

Hi MDenise..... — No, I pretty much stick to 15m charts, mate. On occasion, I'll drop down to 5m, but the only time I check 1h or 4h out, is to check the trends, really. Cheers

Psych Levels, Pivots, and Trendlines - Resurrected

As a follow on..... — A follow on to the chart I was using earlier as a candle demo..... I took this trade after the dark cloud cover candle. The next candle opened right underneath the .50 psych line and had no trouble dropping to the next ...

Psych Levels, Pivots, and Trendlines - Resurrected

Entirely my pleasure, old chap!

Psych Levels, Pivots, and Trendlines - Resurrected

No problem, mate..... — When you open ATR PIPS, alter the 13 to 14 in the settings. Apparently, it makes for a more accurate reading, from what I've been told! Just in case you need it, I've included the ATR as well. Cheers.

Psych Levels, Pivots, and Trendlines - Resurrected

Hi Ed.... — Naughty! A short trade ABOVE the Pivot Point? Still, rules are made to be broken, but only sometimes! I've just had a look at the situation on my chart, Ed, and it's funny you should pick 1.4910 for your TP. That just ...

Psych Levels, Pivots, and Trendlines - Resurrected

Further on............ — Not long after I posted the last chart, price decided to explode upwards, and is now toying with the Main Pivot point. Which all goes to prove that one shouldn't dive in at the first sign of a reversal candle. A little ...

Psych Levels, Pivots, and Trendlines - Resurrected

Examples....... — Hi folks. For the benefit of Ed and maybe others on here, I just thought I'd post this chart from this morning, to show some examples of candlestick movements. Cable this morning. As you can see, price was ranging through the ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi SpecialEd.. — First of all, great user-name! Secondly, many thanks for your kind comments, mate. Always happy to be of assistance. I've lost count of the number of good people on FF who have unselfishly helped me along. Regarding ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi houstonn.... — Nice to see you too, mate. I was getting a bit lonely on here! This method rocks, houstonn. Well worth studying. Cheers for now

Psych Levels, Pivots, and Trendlines - Resurrected

Another nice example.... — Again, eur/usd provides a nice example of a reversal signal right on a fib line. I'm not sure if we can call this a "hammer" candle, as it has a small upper shadow, so it's probably a spinning-top. Either way, it's ...

Psych Levels, Pivots, and Trendlines - Resurrected

A similar example..... — This is the eur/usd at around the same time........ This time, a bearish engulfing candle straddling the R1/0.0 fib confluence, then price goes into free-fall all the way down to the 38.2 fib line (and, at the same ...

Psych Levels, Pivots, and Trendlines - Resurrected

A nice combination of pivots and fibs.... — I'm not in this trade as I came across it a little late, but I thought I'd post it purely and simple because of the entry signals. Price peaks on the 38.2 fib with an upside down hammer/shooting star ...

Psych Levels, Pivots, and Trendlines - Resurrected

Eur/usd at the same time as my cable trade.... — I was tempted to go for eurusd instead of cable, but obviously, my decision hung on the fact that cable was reversing at a psych point (.50), and eurusd seemed to be hung up in nowhere land. ...

Psych Levels, Pivots, and Trendlines - Resurrected

Almost..... — I thought about going for the .00 psych point, but then I thought that a TP of 20 pips would be more realistic, taking into account the previous highs at that level. A nice round figure!

Psych Levels, Pivots, and Trendlines - Resurrected