As I write my next book, I am examining more objective tools for traders.  Tools that can replace or confirm discretionary levels like support, resistance, and trendlines.

There are psychological levels that I call my "invisible support and resistance" level.  These are he "00", "50", "20", and "80" pip levels. (e.g. the current 108.50 level currently trading on the USD/JPY and the 11,500 level on the Dow).  There are also psychologically significant moving averages, the most powerful of which is the 200 simple moving average.  Take a look at the U.S. Dollar Index: 

The moment prices traded above the 200sma they not only broker the trading range of the past six months but also triggered the uptrend.

I will be outlining set ups here with the psychological price level set ups as well as my "Lazy Days" Fibonacci-based moving averages in the coming updates.

In the meanwhile, a big thank you to gotforex.com for letting me share my set ups and trading ideas.  I welcome you to contact me with any comments or questions you have at raghee (at) gotforex.com