Nice one, Dimkata. A good example of how the MA can be used as support or resistance.

Psych Levels, Pivots, and Trendlines - Resurrected

iTrader, in this situation, I don't wait for a retrace, but rather enter just above the high of the first breaking candle. Hope that helps.

Psych Levels, Pivots, and Trendlines - Resurrected

keikor, just a suggestion. Today, the pivot lines are, for a change, quite a distance from each other. At times like this, it's worth including a QUARTER-pivot line as well. You'll find that price will react to these lines, more often than not.

Psych Levels, Pivots, and Trendlines - Resurrected

Dimkata, regarding entry points. I don't know how familiar (or not) you are with candlestick patterns, but I've lost count of the number of good trades that have resulted from a really good reversal or continuance pattern, especially around an ...

Psych Levels, Pivots, and Trendlines - Resurrected

Dimkata, re your problem with target profit. Set your stop-loss and make your target 1:1...in other words, if your stop-loss is 20 pips, then your target will be 20 pips. If you feel that price will go further, then make your target 1.5 or 2 times ...

Psych Levels, Pivots, and Trendlines - Resurrected

That's the spirit! Stick around, keikor. The more, the merrier!

Psych Levels, Pivots, and Trendlines - Resurrected

keikor, thank you for posting your charts. New faces always welcome! Counter-trend trading is something I very very rarely indulge in, but if that's your thing, then I wish you luck. By the way, the MAs will keep you on the right side of any trend. ...

Psych Levels, Pivots, and Trendlines - Resurrected

Nice trade, iTrader. And your analysis is spot on. See you on Monday, I hope.

Psych Levels, Pivots, and Trendlines - Resurrected

balouf, judging by iTrader's chart, and comparing it to mine, it would seem the answer is yes.

Psych Levels, Pivots, and Trendlines - Resurrected

15m EJ....... Reverting to Fib pivots due to a quite dramatic price drop today. The long consolidation along FS4 was worth keeping an eye on just to see what would happen when price finally met the MAs. As is shown, price eventually met the 13ema ...

Psych Levels, Pivots, and Trendlines - Resurrected

15m EU................ Above the TL, price retraced into the MA zone and bounced off the 34ema. After continuing down, the TL break was too near the S1 line, so it was a matter of waiting for the S1 break instead. Entry and exit as shown.

Psych Levels, Pivots, and Trendlines - Resurrected

Good one, iTrader. Nice clear chart as well. Just what my tired old eyes appreciate!

Psych Levels, Pivots, and Trendlines - Resurrected

15m UJ......... Another nice trade missed due to being busy in other areas. Them's the breaks, as they say. A nice bullish flag pattern, followed by a little wait until price broke through R2. MAs nice wide and steep. Everything looking ...

Psych Levels, Pivots, and Trendlines - Resurrected

Spot on, JP, very nice. Just one point. Your entry point was very close to MS1. I would have waited for the break through MS1 before entering. Not saying it's everybody's way of doing things. Just saying what I would have done. Nevertheless, a good ...

Psych Levels, Pivots, and Trendlines - Resurrected

Good question. Personally, I have never given much credence to the rule regarding "under the PL, only short trades - above PL, only long trades". If, as you point out, price is well below the PL, and the trend is heading down, then yes, it makes ...

Psych Levels, Pivots, and Trendlines - Resurrected

JP, I was too late to get in on this trade, due to other commitments. However, a little bit of advice if you don't mind. If you're looking to go short and there's a support line in close proximity, wait for the break before considering entry. The ...

Psych Levels, Pivots, and Trendlines - Resurrected

Good one, snail. Being a little more conservative, I'd have got in just below S1. But that's just me.

Psych Levels, Pivots, and Trendlines - Resurrected

iTrader......nice trades and good commentaries. Thanks for your postings.

Psych Levels, Pivots, and Trendlines - Resurrected

15m GU............ Carrying on from the last chart posting, price carried on down through the mid-level, and then retraced back up to into the MA zone, just above the mid-level. A question then of waiting for some sort of signal or pattern that ...

Psych Levels, Pivots, and Trendlines - Resurrected

Thanks, iTrader. Feel free to jump in any time

Psych Levels, Pivots, and Trendlines - Resurrected