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Is This the correct way to Draw Support and Resistance 6 replies

Horizontal Support & Resistance Lines 13 replies

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Drawing support and resistance lines 4 replies

Drawing correct resistance and support-lines

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  • First Post: Feb 12, 2008 6:24pm | Edited Nov 11, 2011 1:20pm – Added content
I have seen people draw trend-lines from about anywhere on a chart from different threads here @ FF.

In this thread you can see my development during these years with technical analyzes. Latests drawings are according to Igroks Method, the only worthy study/teaching on complex technical analyzes, IMO. Link for explanation.
Cable
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Gbp/jpy
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Eur/usd
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Hope someone find this useful in some way or another, this is IMO a very important aspect to know applying the right way in forex trading.

I f you are very new to trading , this could be a educational and easy approach to get the feeling of the market.

Try it out !
Not only if you are new, if you have been trading for awhile and something is missing in your trading and you have not incorporated some sort of a variation of this to your trading, THIS IS THAT! It is almost a guarentee!
Quoting aediaz1
Hope someone find this useful in some way or another, this is IMO a very important aspect to know applying the right way in forex trading.

If you are very new to trading , this could be a educational and easy approach to get the feeling of the market.

Try it out !
what about this.... bearish rising wedge pattern... 200 pips down..
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"IT'S GOING TO BE LIKE COMING INTO THE JUNGLE" - K G
Quoting YudhaGBP7
what about this.... bearish rising wedge pattern... 200 pips down..
Indeed,wedges tend to pay well off when rightly drawn as you show us here
For what time frame would trend line work best (or better)?

I'm using MT4 and it automatically generates trend lines, but as I change the time frame the line also changes.

Any advise for beginner like me?
4H on cable. Possible bullish wedge which can be tested sometime this week. Let's see how it plays out.
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Hi,
There are some great videos on you-tube about this. I think the guys name is hector forex. Try puting it into a search on you-tube,very informative.

Cheers.
Hi aediaz1

Good to see you bring this up. An excellent and important point. Hopefully your thread will continue and provoke some discussion on trends appearing and ready to break based on these proper lines. Its hard to keep an eye on all pairs / time frames to catch them.

I know someone has posted the Tom DeMark document before but it warrants a repost.

Also the MT4 indiactor which draws the lines AND potential targets following breakout >>


** Just realized I attached the wrong MT4 indicator.. I will re attach


** Ok proper one attached now
Attached Files
File Type: pdf TD%20LINES[1].pdf   388 KB | 10,719 downloads
File Type: mq4 DeMark Trendline Trader.mq4   22 KB | 4,022 downloads
Quoting gotrade83
For what time frame would trend line work best (or better)?

I'm using MT4 and it automatically generates trend lines, but as I change the time frame the line also changes.

Any advise for beginner like me?
I would recommend higher time-frames if you are new. Lower time-frames can be very choppy, and this trend-lines are more reliable in higher times-frames.
Also, try remove your automatic drawing-indicator , it could be nice training for you to apply them yourself, you have the instruction above
Quoting aediaz1
I would recommend higher time-frames if you are new. Lower time-frames can be very choppy, and this trend-lines are more reliable in higher times-frames.
Also, try remove your automatic drawing-indicator , it could be nice training for you to apply them yourself, you have the instruction above

And there's me just attaching it


I could always remove it again. you are right it is better to find them ourselves in order to learn
Quoting RichD
Hi aediaz1

Good to see you bring this up. An excellent and important point. Hopefully your thread will continue and provoke some discussion on trends appearing and ready to break based on these proper lines. Its hard to keep an eye on all pairs / time frames to catch them.

I know someone has posted the Tom DeMark document before but it warrants a repost.

Also the MT4 indiactor which draws the lines AND potential targets following breakout >>


** Just realized I attached the wrong MT4 indicator.. I will re attach


** Ok proper one attached now
Thank you RichD, and for you attached indicators I'll try them out !
Quoting RichD
And there's me just attaching it


I could always remove it again. you are right it is better to find them ourselves in order to learn
No problem, don't we all just love trying new indicators But for beginners I would, as sayed before, draw manual to learn it.
Looks like we are forming a new line on eur/usd. 3mins left on this bar.
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And we also know that CHF goes opposite of eur/usd. We have strong resistance @ 30m chart. Take a look
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Another developing on GBPJPY 4 hour time frame
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