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Drawing correct resistance and support-lines

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  • #361
  • Mar 5, 2008 9:41am Mar 5, 2008 9:41am
It is correct?i draw today.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.JPG Size: 264 KB
Sorry about my english...
  • #362
  • Mar 5, 2008 9:47am Mar 5, 2008 9:47am
Quoting CIORIMAU--
It is correct?i draw today.
A rule of thumb; if a line is tested two times, they are most likely valid. Based on that info along with how I draw my lines (in the start of this thread) you have the answer

Here is what I see on aus/usd;

Price reached top of channel on both 1h and 4h.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ad1h.gif Size: 15 KB
Click to Enlarge Name: ad4h.gif Size: 13 KB
Measure twice, cut once
  • #363
  • Mar 5, 2008 9:57am Mar 5, 2008 9:57am
aediaz1,

I suppose u took profit already ?

mARK
  • #364
  • Mar 5, 2008 10:02am Mar 5, 2008 10:02am
could you draw res and supo on eurusd 1h?i want to compare with my chart that i posted
Sorry about my english...
  • #365
  • Mar 5, 2008 10:09am Mar 5, 2008 10:09am
Quoting aiyahmarklah
aediaz1,

I suppose u took profit already ?

mARK
Closed half of my positions. Gonna open more when we brake above 104.15 on usdjpy (first on usdjpy then on gbpjpy if the scenario seems right).
Measure twice, cut once
  • #366
  • Mar 5, 2008 10:15am Mar 5, 2008 10:15am
Quoting CIORIMAU--
could you draw res and supo on eurusd 1h?i want to compare with my chart that i posted
I don't have any updated lines on eurusd (gonna wait and see how price reacts to weekly support around 1.5353 and hopefully form a top there). I had 1 chart posed earlier today if you look back some pages. It's broken but it could give you a clue how it could be drawn
Measure twice, cut once
  • #367
  • Mar 5, 2008 10:29am Mar 5, 2008 10:29am
when you see a candle with big tail do you consider the tail or the candle?
Sorry about my english...
  • #368
  • Mar 5, 2008 10:45am Mar 5, 2008 10:45am
Quoting CIORIMAU--
when you see a candle with big tail do you consider the tail or the candle?
I do, if it seems logical. This way include more of the market swings. But if some big news affected/provided this tail/shadow I would most likely not. I think this is just a matter of personal choice. I haven't seen failure in any of those two methods yet, but I favor including shadows.
Measure twice, cut once
  • #369
  • Mar 5, 2008 11:13am Mar 5, 2008 11:13am
Gbpjpy update;

Price bounced off TL by 60 pips
Attached Image (click to enlarge)
Click to Enlarge Name: 1hgj.gif Size: 18 KB
Measure twice, cut once
  • #370
  • Mar 5, 2008 11:16am Mar 5, 2008 11:16am
A Good Way Of Scalp On Eurusd M5
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD3.JPG Size: 275 KB
Sorry about my english...
  • #371
  • Mar 5, 2008 12:52pm Mar 5, 2008 12:52pm
I'm looking for a continuation of this upward move. 30m chart gonna decide if I'm riding along. A break from currently pattern would favor those odds.
Attached Image (click to enlarge)
Click to Enlarge Name: 30m gj.gif Size: 18 KB
Measure twice, cut once
  • #372
  • Mar 5, 2008 1:18pm Mar 5, 2008 1:18pm
Quoting aediaz1
I'm looking for a continuation of this upward move.
very nice
  • #373
  • Mar 5, 2008 10:28pm Mar 5, 2008 10:28pm
Quoting magictrader
very nice

Hi again magic


Good morning to all. Looking for a breakout to the upside on eur/usd. Facing 1.5300 right now, alot of resistance here.
Attached Image (click to enlarge)
Click to Enlarge Name: 30meuro.gif Size: 9 KB
Measure twice, cut once
  • #374
  • Mar 5, 2008 11:31pm Mar 5, 2008 11:31pm
Quoting aediaz1
Hi again magic


Good morning to all. Looking for a breakout to the upside on eur/usd. Facing 1.5300 right now, alot of resistance here.
I'm wondering will also the cable break out of it's range or not, my fib 38.2 is at 1.9950 area. considering the EU has made another histo high, let's see if the cable follows and how it reacts to news later..

Attached Image (click to enlarge)
Click to Enlarge Name: break of range or not.gif Size: 21 KB


Gd trading

Yuna
  • #375
  • Mar 5, 2008 11:41pm Mar 5, 2008 11:41pm
Seems like today's pivot holds at the moment.. but the pair is testing it again

Attached Image (click to enlarge)
Click to Enlarge Name: testing pivot.gif Size: 20 KB
  • #376
  • Mar 6, 2008 12:12am Mar 6, 2008 12:12am
Quoting yuna
Seems like today's pivot holds at the moment.. but the pair is testing it again

Attachment
I'm looking for price to hit down around 205.50-205.70, according to 1h trendlines. But as you mentioned, price is struggling with currently pivot (206.31 lnd)
Attached Image (click to enlarge)
Click to Enlarge Name: 1hgj.gif Size: 19 KB
Measure twice, cut once
  • #377
  • Mar 6, 2008 12:20am Mar 6, 2008 12:20am
Quoting aediaz1
I'm looking for price to hit down around 205.50-205.70, according to 1h trendlines. But as you mentioned, price is struggling with currently pivot (206.31 lnd)
haha, speak of devil, pivot is broken already.

Attached Image (click to enlarge)
Click to Enlarge Name: broken pivot.gif Size: 20 KB
  • #378
  • Mar 6, 2008 12:26am Mar 6, 2008 12:26am
we also see a descending triangle here(purple line)

Attached Image (click to enlarge)
Click to Enlarge Name: descending triangle.gif Size: 18 KB
  • #379
  • Mar 6, 2008 12:27am Mar 6, 2008 12:27am
Quoting yuna
haha, speak of devil, pivot is broken already.

Attachment
Patience, still want to see if it holds
Measure twice, cut once
  • #380
  • Mar 6, 2008 12:29am Mar 6, 2008 12:29am
Quoting yuna
we also see a descending triangle here(purple line)

Attachment
Well spotted. Hadn't noticed myself, too busy on eur/usd right now lol
Measure twice, cut once
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