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Drawing correct resistance and support-lines

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  • #341
  • Mar 5, 2008 8:50am Mar 5, 2008 8:50am
Quoting aiyahmarklah
aediaz1,

GY retest of asia high ?

looking more yummy...

hope everybody made some pips just now.

Cheers

mARK
Aye, take a look at 1h chart, ascending triangle;


If this breaks, I'm looking for 160pips +. Look out for US ISM Non-Manufacturing Composite in 10mins !
Attached Image (click to enlarge)
Click to Enlarge Name: 1hgj.gif Size: 15 KB
Measure twice, cut once
  • #342
  • Mar 5, 2008 8:54am Mar 5, 2008 8:54am
yes....i suspect it will happen in later half of NY session.

mARK
  • #343
  • Mar 5, 2008 9:12am Mar 5, 2008 9:12am
I hope you all got some piece of this ride.
Measure twice, cut once
  • #344
  • Mar 5, 2008 9:15am Mar 5, 2008 9:15am
Quoting aediaz1
Aye, take a look at 1h chart, ascending triangle;


If this breaks, I'm looking for 160pips +. Look out for US ISM Non-Manufacturing Composite in 10mins !
aediaz1, u long already?

Attached Image (click to enlarge)
Click to Enlarge Name: news again.gif Size: 18 KB


Yuna
  • #345
  • Mar 5, 2008 9:19am Mar 5, 2008 9:19am
Quoting aediaz1
I hope you all got some piece of this ride.
i wasnt ready to react,it happened so fast!i was away for a while and up it goes. i jumped in after it broke R1 for a scalp of 50 pips.
  • #346
  • Mar 5, 2008 9:24am Mar 5, 2008 9:24am
Quoting yuna
aediaz1, u long already?

Attachment

Yuna

Had a minor limit buy order on 205.60. Still, its + pips I have been aiming for 208.47 as first target (50% retracement on 4h chart) and 212 as second target on a long-term basis. Here is some old charts I have posted ;
Attached Image (click to enlarge)
Click to Enlarge Name: dailgbpjpy.gif Size: 16 KB
Attached Image
Measure twice, cut once
  • #347
  • Mar 5, 2008 9:26am Mar 5, 2008 9:26am
Quoting yuna
i wasnt ready to react,it happened so fast!i was away for a while and up it goes. i jumped in after it broke R1 for a scalp of 50 pips.

That's very good ! Make sure you stay near when big news is coming up
Measure twice, cut once
  • #348
  • Mar 5, 2008 9:40am Mar 5, 2008 9:40am
aediaz1,

thank you for bringing the GJ pair to my attention, made some extra pips....


mARK
  • #349
  • Mar 5, 2008 9:40am Mar 5, 2008 9:40am
Quoting aediaz1
Aye, take a look at 1h chart, ascending triangle;


If this breaks, I'm looking for 160pips +. Look out for US ISM Non-Manufacturing Composite in 10mins !

3 pips away from 160 :/
Measure twice, cut once
  • #350
  • Mar 5, 2008 9:41am Mar 5, 2008 9:41am
Quoting aiyahmarklah
aediaz1,

thank you for bringing the GJ pair to my attention, made some extra pips....


mARK

Your welcome, hope we can still can enjoy more positive pips in the future
Measure twice, cut once
  • #351
  • Mar 5, 2008 9:49am Mar 5, 2008 9:49am
Example how profitable descending triangles can be ;

Edit: This pattern is valid right away when candle is confirmed outside of it
Attached Image
Measure twice, cut once
  • #352
  • Mar 5, 2008 10:08am Mar 5, 2008 10:08am
I'm gonna add more positions if this break.
Attached Image
Measure twice, cut once
  • #353
  • Mar 5, 2008 10:33am Mar 5, 2008 10:33am
Quoting aediaz1
I'm gonna add more positions if this break.
Break already looks like ur 4hr fibo 50 is not far frm now. but for me my fibo 50 is 207.80.

GO! Wild horse go!

Attached Image (click to enlarge)
Click to Enlarge Name: break.gif Size: 13 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 207.80.gif Size: 17 KB


Yuna
  • #354
  • Mar 5, 2008 10:37am Mar 5, 2008 10:37am
Quoting yuna
Break already looks like ur 4hr fibo 50 is not far frm now. but for me my fibo 50 is 207.80.

GO! Wild horse go!

Attachment

Attachment

Yuna
Break indeed. Can't see from what top you have drawn your fib from.

Let's ride
Attached Image
Measure twice, cut once
  • #355
  • Edited 10:44am Mar 5, 2008 10:43am | Edited 10:44am
Quoting aediaz1
Break indeed. Can't see from what top you have drawn your fib from.

Let's ride
my top is a bit lower then urs

Attached Image (click to enlarge)
Click to Enlarge Name: my fibo.gif Size: 19 KB


Yuna
  • #356
  • Mar 5, 2008 10:49am Mar 5, 2008 10:49am
Quoting yuna
my top is a bit lower then urs

Attachment

Yuna

Make sure to lock in profit, this could turn around fast !

Also want usdjpy to break 104.10, double tops from 1h and down. If so, I reckon gbpjpy longs should be safe for now.
Measure twice, cut once
  • #357
  • Mar 5, 2008 10:56am Mar 5, 2008 10:56am
Quoting aediaz1
Make sure to lock in profit, this could turn around fast !
yea, i close half of my positions and shift sl to BE when i saw price stalls at fibo 50.

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  • #358
  • Mar 5, 2008 11:08am Mar 5, 2008 11:08am
testing fibo 50 again. aediaz1, can this be considered a round off bullish engulfing??

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Yuna
  • #359
  • Mar 5, 2008 11:18am Mar 5, 2008 11:18am
Quoting yuna
yea, i close half of my positions and shift sl to BE when i saw price stalls at fibo 50.

Attachment

Well done, again ! I'm not taking any more positions before usdjpy breaks above 104.15.
Measure twice, cut once
  • #360
  • Mar 5, 2008 11:29am Mar 5, 2008 11:29am
GJ update, 1h.

I most add; I have a big dejavú right now. Always when I get this "fork" like lines, price will sooner or later test lower part of it. I hope I'm wrong because I'm pretty tired of that 203.50-205.50 area now lol.
Attached Image (click to enlarge)
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Measure twice, cut once
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