Good Question... — I wish I knew.

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Yes... another great point. — Agree wholeheartedly with this post. Bearish long term but a bounce seems on the table after the Fed talks.

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A retest of .5515 seems in the cards... — I won't buy this market.

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Agree also — Oversold on every chart. However - that hasn't stopped the bleeding lately. It's a very good point. Everyone knows the Fed will leave rates where they are... the big key will be the jawboning afterwards.

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Thanks... — The videos sizes are huge. The system is under Video...Pivot Point System. I suggest downloading the indicator for metatrader also. It's not mine... I pilfered it from someone... it's does a great job with the Pivots.

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Agree 100% — If S3 gives... on my chart it's at .5460. I see nothing until .5320.

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Check out this site — thefxpivotpoint.com Full Disclosure: It's my site. This guy does a nice job of explaining the concept. url

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August 4th - US Session — Let's take a look at today's US Session. Notice how price kissed the .5600 level several times prior to the 'meat' of the US Session. Then - it gave us one warning prior to moving up again. It touches the .5600 level ...

Psych Levels, Pivots, and Trendlines - Resurrected

Hard to deny with a post like yours — Nice job EV. Nice trading.

Psych Levels, Pivots, and Trendlines - Resurrected

Hello FT... — I'm a day trader. My average trade lasts less than 5 minutes. 2-3 trades/session. 15 Minute utilizing pivots,psych levels and S/R. Trade off the 5. Cognizant of the news but the price action will tell you how a pair is doing. Hit ...

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Additionally... — That was a prognostication not historical reference.

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Yes... — Long term is a 1H chart.

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Well... — Intra-day they are doing ok. Long term charts bulls blow farts. I'd like to add the bulls look sad. Makes me happy not the least mad.

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Probably... — Stops and Crude.

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Good Question... — .5620 should. (R2) Additionally rumors are that some large German names will sell hard into the .5620ish level. News coming... gut says stay flat.

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She's a very good trader... — There's a thread on psych levels and pivots point under trading. (Full disclosure - it's my thread) If your are interested it's worth a read. I trade pivots and psych levels exclusively. Have a great trading day.

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Waiting... — The markets waiting for the next news release. I don't think there's enough bearish bias built up to move below .5550 today. Just a guess. The market usually will digest the news... wait for equities and Oil and begin a move ...

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Yes Sir... — It's a psych level. Psych levels are where the black box guys (the quants, banks, large hedge funds...etc) take or move out of positions. Price will often vacillate around these levels prior to picking a direction. Additionally - ...

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IF .5550 doesn't hold... — Price will move quickly to .5500. .5550 and the pivot point are at a confluence. Additionally - when price spends the majority of a session below or above the PP it will do so the rest of the session to the tune of ...

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Stops below .5550 — The news was indeed good for the US. There are some large stops below .5550 and they are being protected.

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