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The Support Resistance Switch Method - Trade with one line

  • #41
  • May 21, 2018 8:56am May 21, 2018 8:56am
Quoting JacolineFIS
{quote} There is no crystal ball ... you just have to open your eyes and look for the price reaction areas (lines). It is simple resistance turned support, or support turned resistance trading. Google that and you will have your own crystal ball too AS for the EU at 1.1749, I would stay away from shorting that as the 1.1725 is a HUGE support area and will bounce much higher than 1.1750 in my opinion. I will let it go to 1.18xxx at least before shorting again especially with euro banks closed today ... just my two cents

EU seems to be getting rejected at 1.1780 -1.1770 area and may turn into resistance which had been support before looking at 15-min chart. Check your charts. Looking at 1H chart, it is forming a nice pin bar. If that pin bar holds and the price breaks below it on the next hour, it maybe a good shorting opportunity
  • #42
  • May 21, 2018 9:24am May 21, 2018 9:24am
Quoting JacolineFIS
{quote} EU seems to be getting rejected at 1.1780 -1.1770 area and may turn into resistance which had been support before looking at 15-min chart. Check your charts. Looking at 1H chart, it is forming a nice pin bar. If that pin bar holds and the price breaks below it on the next hour, it maybe a good shorting opportunity

And she unfolds perfectly for a short position
  • #43
  • May 21, 2018 9:25am May 21, 2018 9:25am
Quoting JacolineFIS
{quote} I have the same lines and same plan of entry on USDCAD , two positions each at the lines you have drawn. Lets see where she goes. I have to say that my TP is at 1.2990 just short of the previous high and that is why my entry does not need to be so precise as yours though - I realize you looking for 10-15 pips on this trade, I am looking more like 100 to 150 pips There is also fundamental reason to support a long trade in USDCAD as Canadian numbers didn't impress last Friday and we all know that the USD is on a tear lately. I believe...

Triggered for a long position ... may the green pips be with you
  • #44
  • May 21, 2018 9:36am May 21, 2018 9:36am
Quoting JacolineFIS
{quote} Triggered for a long position ... may the green pips be with you
Thanks! I got stupid and took the first level while it was tested. I should have discarded the first level. Anyway, second level was a profit so I'm down for about -0.2 with commission.
  • #45
  • May 21, 2018 10:06am May 21, 2018 10:06am
Quoting CrocodileRex
{quote} Thanks! I got stupid and took the first level while it was tested. I should have discarded the first level. Anyway, second level was a profit so I'm down for about -0.2 with commission.

I saw it was coming down so hard and fast at the first level i knew she was gonna plow right through it

It looks like it is retesting it soon ... there is a rising trendline at 12830 that is being tested ... will see if that holds
  • #46
  • May 21, 2018 2:36pm May 21, 2018 2:36pm
Quoting JacolineFIS
{quote} I saw it was coming down so hard and fast at the first level i knew she was gonna plow right through it It looks like it is retesting it soon ... there is a rising trendline at 12830 that is being tested ... will see if that holds

1.2830 trendline bounce was good for 25 pips .. not the 150 pips i was hoping for
  • #47
  • May 21, 2018 2:41pm May 21, 2018 2:41pm
USDJPY LONG just triggered at 111.05 ...looking for 30 pips on this one
  • #48
  • May 21, 2018 10:06pm May 21, 2018 10:06pm
Morning Traders.

The two closest levels i am watching now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdusd.PNG Size: 85 KB
Click to Enlarge Name: gbpusd.PNG Size: 82 KB
  • #49
  • May 22, 2018 12:21am May 22, 2018 12:21am
Quoting CrocodileRex
Morning Traders. The two closest levels i am watching now. {image} {image}
and why are you watching these levels?
  • #50
  • May 22, 2018 12:24am May 22, 2018 12:24am
Subs
Thanks and
regards
  • #51
  • May 22, 2018 12:59am May 22, 2018 12:59am
Quoting sideway
{quote} and why are you watching these levels?
look to the left side of the chart. You will see the wicks on the left hand side. gbpusd is a very strong zone as there is multiple touches/structure. nzdusd is kinda weak, hence i am more careful on that one.
  • #52
  • May 22, 2018 1:01am May 22, 2018 1:01am
Here is another one on aussie long i am watching but tit seems too far away to be triggered soon.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.png Size: 83 KB
  • #53
  • May 22, 2018 2:52am May 22, 2018 2:52am
will take the eurcad sell with half position as this pair is volatile and i dont have much experience trading it.
Attached Image (click to enlarge)
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  • #54
  • May 22, 2018 3:37am May 22, 2018 3:37am
gbpusd short was triggered and the level was holding until some idiot spoke about brexit. Got a stop for -12

eurcad was a perfect hit, although it was half position.

Just another trade, moving on now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd.PNG Size: 76 KB
Click to Enlarge Name: Capture.PNG Size: 73 KB
  • #55
  • May 22, 2018 3:52am May 22, 2018 3:52am
two yen crosses close to trigger
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: cadjpy.PNG Size: 74 KB
  • #56
  • May 24, 2018 6:08am May 24, 2018 6:08am
GU looking like it might roll over and head south again around 13400
Attached Image (click to enlarge)
Click to Enlarge Name: Capture_GU.PNG Size: 42 KB
  • #57
  • May 24, 2018 10:16am May 24, 2018 10:16am
Quoting JacolineFIS
GU looking like it might roll over and head south again around 13400 {image}
nice one, i have that too but i didnt take it because there was a retail news and it broke the level for me.
  • #58
  • May 28, 2018 12:05am May 28, 2018 12:05am
on daily TF, watching 129.30-129.55 on EJ for short entry
  • #59
  • May 28, 2018 12:20am May 28, 2018 12:20am
Quoting JacolineFIS
on daily TF, watching 129.30-129.55 on EJ for short entry
It's quite far but my level is around 129.23
Attached Image (click to enlarge)
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  • #60
  • May 28, 2018 11:48am May 28, 2018 11:48am
Hello traders,

I am currently in euraud short as per shown. lets see how it goes.
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