Thread: Psych Levels, Pivots, and Trendlines - Resurrected

I've been asked to resurrect the thread which dealt with pivots, psychs and fashion lines. (I should probably put fibs in there also)

Not Sure why... only a handful of you read the initial one.

Let's take a look EURUSD on a 4HR chart.

It is a naked chart with only a fib of the last down move and a fashion line.

Can the EURO have enough power to make it to the 50 degree? (Near the powerful psych level of .5800.)

I'm guessing yes.

However... if it does... does it have enough power to make it beyond three obstacles which are creating strong bearish confluence?

NO WAY.... UNLESS NFP paints more horribly than estimated.

Which are they:

1) .5800 degree. Anything are the psych levels that are most essential.
2) P fib degree of current downward leg.
3) Trend lineup from recent highs

If these three levels drawn close to one another the confluence (I like that phrase) of the three will seriously deter the bulls.

Before the European semester I'll post possible trade set ups according to this method to trading.

AU chart, prcie trying to break the range, and makes a false break out, creating expanding triangle, sell in the top, close in the bot of triangle, 2 to 1 commerce

Originally Posted by ;

If you are interested on how I exchange this system check out this website.

Http://www.thefxpivotpoint.com/Videos.htm

Download the Pivot Point System and give it a glance. (Be patient - little pipe)

Nothing publiion.

It's all 'out there' - I simply combine the three once I exchange.

Hello Acumen

Thank you for revealing your trading egy.

I have found psych levels to be very beneficial in my trading , although I'm still a beginner. I have been trading live today using a little account for about 4 months , I am in break but gaining understanding all the time.


I find this indior to get psych levels very helpful, I think that it was loed here, in the forexsoutheast.asia.

Marshy.
https://www.forexsoutheast.asia/atta...2941328881.ex4
https://www.forexsoutheast.asia/atta...3976950509.mq4

If you're considering how I exchange this system check out this website.

Http://www.thefxpivotpoint.com/Videos.htm

Download the Pivot Point System and give it a glance. (Be patient - small pipe)

Nothing novel.

It's all 'out there' - that I simply combine the three once I exchange.

This might be a tricky session.

In the pic below you can see .5720 and a trend line forming confluence.

At some point during the session I believe price will proceed to this triangle and bounce from it.

Should price move through the trend line pull back and the go south it will likely hit .5700.

If it hit .5750, pull back and proceed north it SHOULD proceed to R1 although trading will most likely be quite choppy.

How can I trade it. I believe we're very likely to observe a move above .5750 during the session. If price hits .5750 AND brings moves up I'll scalp that proceed.

I shall scalp a sustained movement below the .5720 wedge.

I won't exchange any actions.

Too many head fakes.

If we move from the region outlined in my previous post I'm out.

I will sleep or watch the price action. . .OK... probably sleep and await consumer confidence to bring the Euro down.

I live on the East coast so the European Session begins at 2:00am.

We ought to see some hefty consolidation around the .5600 degree.

Additionally it's a fib degree.

SHOULD...

I'd like to see a dead bounce before I take another brief but the EURO bulls are not looking overly Optimistic.

When we do not observe the famous dcb I'll sit on the sidelines until the EURO session.

Hi ,

fine to have you back here. I?ve been studying your ribbon and posted some charts.
I hope I can contribute some thoughts for this thread.

Good chance for your trades !!

Originally Posted by ;

Hi ,

nice to have you back. I?ve been reading your very first thread and posted a few charts.
I hope I can give some thoughts for this thread.

Good luck for your transactions !!

Thanks.

So - todays move was impressive but I am not too excited.

Dollar longs today were fueled by external factors... Oil weakness and equity strength not on its own merit.

Is the prejudice changing... sure... however, the Euro isn't down for the count... yet.

I'll be back prior to this Euro session for pivot and psych degree ideas.