Made a quick trade from M5 seeing a potential for a momentum break of the triangle's lower TL. I was conservative of the TP coz of the MS1 below. TP was placed and hit just above MS1. Edit: The pullback was resisted by the psyche level-1.5850 and ...

Psych Levels, Pivots, and Trendlines - Resurrected

Symmetrical Triangle — A symmetrical triangle is developing in cable.

Psych Levels, Pivots, and Trendlines - Resurrected

Looking at M15 cable made a lower swing high and a 76.4% retracement at the psyche level-1.5900. Looking at M5 it was a break of the rising TL. Short after price crossed below the 3rd candle in the lower swing high at M15. TP was placed and hit ...

Psych Levels, Pivots, and Trendlines - Resurrected

cable seems to be forming a pennant at M5 and a shooting star at M15 after meeting resistance at CP which is also a 61.8% retracement. Let's see what happens.

Psych Levels, Pivots, and Trendlines - Resurrected

Good day guys! — After cable moved below CP-1.5888. It pulled back and met resistance at CP. Short after price crossed below the low of the shooting star. TP was hit just above the psyche level-1.5800 and a visual support area.

Psych Levels, Pivots, and Trendlines - Resurrected

Signing off — That's it for me today. Goodluck to your trades EV, Happy and others! See you all tomorrow.

Psych Levels, Pivots, and Trendlines - Resurrected

.. Good eye on the triangle EV! I didn't see that. Although I was on this trade. Bought after price crossed above the tweezer top and higher swing high. It's also a bounce off the rising TL. TP was below CP-1.5998. Pulled the plug at ...

Psych Levels, Pivots, and Trendlines - Resurrected

Nice trade EV!

Psych Levels, Pivots, and Trendlines - Resurrected

.. We can't get them all EV! Anyway you had a reason to keep out. Your EMAs were flatting out which shows a potential for a consolidation.

Psych Levels, Pivots, and Trendlines - Resurrected

Just got back at my screen — My TP was hit @ 1.5948, just below the psyche level.

Psych Levels, Pivots, and Trendlines - Resurrected

.. I'm long from 1.5861. Let's see where this goes.

Psych Levels, Pivots, and Trendlines - Resurrected

You're right EV. A double top and a tweezer top on my chart then in went down from there. But it met support at the rising TL. Let's see what happens.

Psych Levels, Pivots, and Trendlines - Resurrected

Nice trade EV! .. Looks like we were on the same boat on that trade. Although your entry was earlier than mine. I was in at 1.5835 after price crossed the high of the 3rd candle in that higher swing low.

Psych Levels, Pivots, and Trendlines - Resurrected

What could have been... — Looking at M15, this could have been a good trade. A buy after the 50% retracement and cable met support at the ceiling of the broken ascending triangle. TP at the 138.2%-161.8% zone.

Psych Levels, Pivots, and Trendlines - Resurrected

Fib and Pennant — While we were discussing triangle breakouts, I was able to slip into this trade. After the 2nd break of the confluence of MS1-1.5798 and psyche level-1.6000 cable made a 61.8% retracement, formed a pennant and a tweezer ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hi Happy! It depends. I have several rules on triangle breakouts. On this this one, since the highs are not the same or very close, I don't place a buy stop since there is no clear ceiling price of the triangle. I prefer to wait for a one candle ...

Psych Levels, Pivots, and Trendlines - Resurrected

Fibs and Candles — Here's a trade after a 76.4% retracement. After the bearish engulfing candle came a bullish piercing and a higher swing low. Bought after price crossed above the high of the bullish piercing candle. TP was hit at 1.5792.

Psych Levels, Pivots, and Trendlines - Resurrected

.. Thanks Vantage. Here's another higher swing low based trade. Bought after price crossed above the high of the tweezer bottom in the HSL. TP was placed and hit at a potential resistance level which is the confluence of MS1-1.5798, psyche ...

Psych Levels, Pivots, and Trendlines - Resurrected

Good day guys! — A couple of trades. First one is after price bounced off the rising TL of the ascending triangle. The second one is after price broke above the triangle.

Psych Levels, Pivots, and Trendlines - Resurrected

.. Have a great weekend EV! See you on Monday!

Psych Levels, Pivots, and Trendlines - Resurrected