The right Trendline and S/R line | Forex Factory

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The right Trendline and S/R line

  • #1
  • First Post: Oct 16, 2007 6:29pm Oct 16, 2007 6:29pm
Hello all
Im new here in this forum and i open this new thread to talk about trendline trading and S/R

Who have more surces from where to learn more about trendline and how to choiche the right support and resistance line .

Personaly i knwo how to draw a trend line and a S/R line but i really dont know if is right line or not.

Please if here is old member who can help us to choiche the right line on trend i really apreciate.


Also i see here is one great trendline trader Isotonic but i cant send him PM....so please ISOTONIC if u se this thread please help

Regards
  • #2
  • Oct 16, 2007 6:54pm Oct 16, 2007 6:54pm
Not sure if this will be much help but this is what i do..

Make sure the trend line joins at least two points perfectly. I make sure it is not "made to fit". I use charts that have no sunday candles too, this can make trend lines appear very differently on daily charts than if you use a chart with sunday candles.
  • #3
  • Oct 16, 2007 6:59pm Oct 16, 2007 6:59pm
Quoting justcatalin
Hello all
Im new here in this forum and i open this new thread to talk about trendline trading and S/R

Who have more surces from where to learn more about trendline and how to choiche the right support and resistance line .

Personaly i knwo how to draw a trend line and a S/R line but i really dont know if is right line or not.

Please if here is old member who can help us to choiche the right line on trend i really apreciate.


Also i see here is one great trendline trader Isotonic but i cant send him PM....so please ISOTONIC if u se this thread please help

Regards
I try to help...to draw a trend line the first thing you should know what's trendline .....down trend means there's lower top that continues ....up trend means there's higher bottom that continues ...if price goes up you can draw uptrend line from bottom to the last bottom ...if price goes down you can draw downtrend line from top to the last top ...
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  • #4
  • Oct 16, 2007 7:08pm Oct 16, 2007 7:08pm
thanks for reply

Im not new in this game but trendline and s/r sems to be very confuse sometimes and im thinking if i miss something.
Tomorow i will start to post chart and try learn togheter from old traders if they have some time
Regards
  • #5
  • Oct 16, 2007 7:24pm Oct 16, 2007 7:24pm
Quoting justcatalin
thanks for reply

Im not new in this game but trendline and s/r sems to be very confuse sometimes and im thinking if i miss something.
Tomorow i will start to post chart and try learn togheter from old traders if they have some time
Regards
Who T F are you calling Old? Pleeb.
  • #6
  • Oct 19, 2007 4:54pm Oct 19, 2007 4:54pm
Hello again
Sory for chart delay

I come with gbp/usd chart 4h timeframe and i want to know how to avoide the false signal from a trendline break.....some example will be great.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gbp1.gif Size: 27 KB
  • #7
  • Oct 19, 2007 4:56pm Oct 19, 2007 4:56pm
Quoting Bemac
Who T F are you calling Old? Pleeb.
he he he....i mean old in this game not in years old
  • #8
  • Oct 19, 2007 6:25pm Oct 19, 2007 6:25pm
Quoting justcatalin
Hello again
Sory for chart delay

I come with gbp/usd chart 4h timeframe and i want to know how to avoide the false signal from a trendline break.....some example will be great.

Regards
you've to combine trend line with top and bottom of the trend ...it's quite simple to determine top and bottom using Zigzag indicator ....(in uptrend) if the trendline was break...watch the previous bottom ..is it break or no...if it doesn't break so uptrend still continues...hope it help
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  • #9
  • Oct 19, 2007 7:56pm Oct 19, 2007 7:56pm
Hi justcatalin

Your original trend line was no1

Price rose to resistance at z then fell breaking TL1 at (a) (Your false breakout 1)

You could possibly have looked to sell if the price went a certain number of pips below the low of the candle that closes below the TL1(it would also have had to go past the support at (x) )

The next candle did not go below this low or the support at (x) So you could re-draw the trend line as TL2

The price then touched again at (b) but didn't close below the TL and also did not close below the resistance at (y) confirming TL2

Price then hit TL2 again before breaking resistance at (z)
Attached Image (click to enlarge)
Click to Enlarge Name: tl.gif Size: 17 KB
The greatest enemy of a good plan is the dream of a perfect plan.
  • #10
  • Oct 20, 2007 4:04am Oct 20, 2007 4:04am
Thanks steve10%
This is the answer what im expecting.
This is your tradin stile ?
What you think if we open a thread only for Trendline trading and SR without any indicator?

Regards
  • #11
  • Oct 21, 2007 5:18pm Oct 21, 2007 5:18pm
or lets continue in this thread

What you think guys?

Regads
  • #12
  • Oct 21, 2007 5:38pm Oct 21, 2007 5:38pm
While I am very new at this and don't think I would have much experience to add, I think your idea is great. I would love to learn more about the proper use of tl's and s/r. I confuse myself sometimes as to how to analyse certain ones or where exactly to put them. Thanks in advance for anyone willing to share their expertise.
  • #13
  • Oct 22, 2007 2:58am Oct 22, 2007 2:58am
Quoting justcatalin
Thanks steve10%
This is the answer what im expecting.
This is your tradin stile ?
What you think if we open a thread only for Trendline trading and SR without any indicator?

Regards
My trading style? Well 7 years and I am still developing it.
I look at;
Trend line/S/R
Fib retrace
M/A
Stoch'
ADX
COT
Option volatility

It would be a good idea to run a thread but you could as you have suggested keep this going for a while to see how it goes.

I will contribute when I can as I have other work commitments and I am not always at the computer during the day
The greatest enemy of a good plan is the dream of a perfect plan.
  • #14
  • Oct 22, 2007 4:33am Oct 22, 2007 4:33am
Tom Demark trendline drawing rules in attached file:
Attached File(s)
File Type: pdf TDTL.pdf   388 KB | 871 downloads
Take care,Sulz.
  • #15
  • Oct 22, 2007 4:44am Oct 22, 2007 4:44am
Hey steve10% i cant send you PM i dont know why.

Be the way lets keep this thread for trading with trendline and SR line without any indicator please.

Also steve10% can you tell us how do you start to analize a chart for example......
From what timeframe did you start draw SR and TL and in what timeframe you look for confirmation.

Any book recomandation on how to use TL and SR but to be based only on these line ?

Regards
Catalin
  • #16
  • Oct 22, 2007 4:53am Oct 22, 2007 4:53am
"The new science of technical analysis" by Tom Demark is usefull. He has 'developed' an objective ruleset for drawing them. Is all in the pdf file two posts up.
Take care,Sulz.
  • #17
  • Oct 22, 2007 12:00pm Oct 22, 2007 12:00pm
Quoting sulz
"The new science of technical analysis" by Tom Demark is usefull. He has 'developed' an objective ruleset for drawing them. Is all in the pdf file two posts up.
Thanks for sharing sulz
The greatest enemy of a good plan is the dream of a perfect plan.
  • #18
  • Oct 22, 2007 6:15pm Oct 22, 2007 6:15pm
Quoting justcatalin
Hey steve10% i cant send you PM i dont know why.

Be the way lets keep this thread for trading with trendline and SR line without any indicator please.

Also steve10% can you tell us how do you start to analize a chart for example......
From what timeframe did you start draw SR and TL and in what timeframe you look for confirmation.

Any book recomandation on how to use TL and SR but to be based only on these line ?

Regards
Catalin
I think its a good idea to draw trend lines on a larger time frame to start with then go to a lower time frame keeping an eye on the price when it approaches long term lines.
On this GBP/USD chart the trend line (1) provided resistance at the start of the down move then a year later provided support at {a}
Lines 2&3 were resistance and support creating a triangle formation and when the price continued to near the apex provided potential for a good move ...in this case up.
Trendline 4 denotes the present uptrend though you could plot a similar slope line inside this touching different points and passing through a few of the bars
Attached Image (click to enlarge)
Click to Enlarge Name: tl.gif Size: 19 KB
The greatest enemy of a good plan is the dream of a perfect plan.
  • #19
  • Oct 22, 2007 6:43pm Oct 22, 2007 6:43pm
Quoting steve10%
I think its a good idea to draw trend lines on a larger time frame to start with then go to a lower time frame keeping an eye on the price when it approaches long term lines.
On this GBP/USD chart the trend line (1) provided resistance at the start of the down move then a year later provided support at {a}
Lines 2&3 were resistance and support creating a triangle formation and when the price continued to near the apex provided potential for a good move ...in this case up.
Trendline 4 denotes the present uptrend though you could plot a similar slope line inside this touching different points and passing through a few of the bars
Hi Steve 10%,
Perhaps you missed one. (#5)

I did this on your Image and is therefore not dependable as being accurate by Price but I think you get my drift.
Just sayin'
Attached Image
  • #20
  • Oct 22, 2007 6:56pm Oct 22, 2007 6:56pm
Quoting Bemac
Hi Steve 10%,
Perhaps you missed one. (#5)

I did this on your Image and is therefore not dependable as being accurate by Price but I think you get my drift.
Just sayin'
Thanks Bemac.Glad you are keeping things in order
The greatest enemy of a good plan is the dream of a perfect plan.
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