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Drawing correct resistance and support-lines

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  • #441
  • Mar 10, 2008 4:20am Mar 10, 2008 4:20am
Here is an Entry Point in a 30-Minutes chart as this pair's successfully break'sdown +70 Pip's almost .... Also See daily chart ...As remain's bearish... Hope so this pair will remain's bearish through-out this week... Waiting for some Important breakdown's...
Also Keep An Eye On some of important Fundamental's through'out the week....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30-minutes.gif Size: 41 KB
Click to Enlarge Name: aud---ud-daily.gif Size: 42 KB
Click to Enlarge Name: weekly.gif Size: 41 KB
  • #442
  • Mar 10, 2008 5:24am Mar 10, 2008 5:24am
Quoting Umairs2004
Here is an Entry Point in a 30-Minutes chart as this pair's successfully break'sdown +70 Pip's almost .... Also See daily chart ...As remain's bearish... Hope so this pair will remain's bearish through-out this week... Waiting for some Important breakdown's...
Also Keep An Eye On some of important Fundamental's through'out the week....
It seems that aud/usd is starting to move downward. But having alot of trouble with daily support-line.What I'm looking for now, is a breakout from daily chart. This week will hopefully tell us what's next
Attached Image (click to enlarge)
Click to Enlarge Name: aud4h.gif Size: 16 KB
Attached Image
Measure twice, cut once
  • #443
  • Mar 10, 2008 5:31am Mar 10, 2008 5:31am
GJ; We had a breakout on 1h to the downside (about 55pips). Right now it went through this newly broken trendline.
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.gif Size: 22 KB
Measure twice, cut once
  • #444
  • Mar 10, 2008 6:00am Mar 10, 2008 6:00am
Quoting Umairs2004
It's One Of My Favourate Thread As related to my style of trading... I'll Glad to post my Analysis also...
Hello Umairs, yes please share, hope to learn frm u.


PS: Aediaz1, seems like ur thread is rocking, didnt u imply entry fees? LOL!

Yuna
  • #445
  • Mar 10, 2008 6:01am Mar 10, 2008 6:01am
Quoting aiyahmarklah
My apologies it meant nothing, needed try the signature thing at the end of every posting.
Haha funny lah u, i like ur signature/avatar, HUAT ah..
  • #446
  • Mar 10, 2008 6:07am Mar 10, 2008 6:07am
Quoting CIORIMAU--
why you think this???i think that you could trade only using fibos.
Seems like to each of its own
My reason is because fibo is very subjective, the way u draw it will be the way how u interprete it and affects ur signal/entry/exit. Another reason is because sometimes price ignores fibo and jus move at it's will. I prefer to use fib together with trendline and SR for more confirmation. However if u use fibo on a longer TF like u did, i think they are more reliable as most players has the same line as u, wheareas in shorter time frame, there's lot's of ways to draw a fib. JMHO.

My 2 cents..
Yuna
  • #447
  • Mar 10, 2008 6:35am Mar 10, 2008 6:35am
Quoting aediaz1
GJ; We had a breakout on 1h to the downside (about 55pips). Right now it went through this newly broken trendline.
Today price was rejected by daily pivot a few times. couldnt make a break above it currently..

Attached Image (click to enlarge)
Click to Enlarge Name: 1.9950.gif Size: 22 KB


Yuna
  • #448
  • Mar 10, 2008 6:36am Mar 10, 2008 6:36am
True, Fibs can be subjective, which is why I tend to use them on clear high lows on which there is a consensus.
  • #449
  • Mar 10, 2008 6:36am Mar 10, 2008 6:36am
Quoting MPP
No apology needed, i just find such symbols interesting, so was making an inquirey about it's meaning, you know the stuff - peace love, family name etc.

best of pips

MPP

Well that is one of the symbols in the mahjong game. It basically means "growth", which in mahjong context growth of wealth. It is a traditional chinese character.

mARK
  • #450
  • Mar 10, 2008 6:41am Mar 10, 2008 6:41am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting aiyahmarklah
Well that is one of the symbols in the mahjong game. It basically means "growth", which in mahjong context growth of wealth. It is a traditional chinese character.

mARK
Love the game, at least now i know one of the symbols. thought i'd seen it somewhere before, just couldn't place it.
  • #451
  • Mar 10, 2008 6:48am Mar 10, 2008 6:48am
Quoting yuna
Hello Umairs, yes please share, hope to learn frm u.


PS: Aediaz1, seems like ur thread is rocking, didnt u imply entry fees? LOL!

Yuna
Sure Yuna .... Glad to Post review's here...
  • #452
  • Mar 10, 2008 6:53am Mar 10, 2008 6:53am
I jUst close the E/U 30 -Minutes breakdown for +30 Pips ,As i missed the chance to enter in a today's AUD/USD breakdown (See My previous Post with screenshot) Trade coz i was bit busy...
ECB President Trichet Speaks'' News is about to come ...
see the screenshot... Also seem's breakdown in 4-Hour chart is about the trigged...But i just exit coz of new's and as a day trader my daily target is now successfuly achieved...
Attached Image (click to enlarge)
Click to Enlarge Name: euro+ussd-30.gif Size: 49 KB
  • #453
  • Mar 10, 2008 6:56am Mar 10, 2008 6:56am
Quoting Umairs2004
I jUst close the E/U 30 -Minutes breakdown for +30 Pips as Important ''
ECB President Trichet Speaks'' News is about to come ...
see the screenshot... Also seem's breakdown in 4-Hour chart is about the trigged...But i just exit coz of new's and as a day trader my daily target is now successfuly achieved...
Nice chart,,, Umair2004....
  • #454
  • Mar 10, 2008 6:58am Mar 10, 2008 6:58am
Quoting yuna
Seems like to each of its own
My reason is because fibo is very subjective, the way u draw it will be the way how u interprete it and affects ur signal/entry/exit. Another reason is because sometimes price ignores fibo and jus move at it's will. I prefer to use fib together with trendline and SR for more confirmation. However if u use fibo on a longer TF like u did, i think they are more reliable as most players has the same line as u, wheareas in shorter time frame, there's lot's of ways to draw a fib. JMHO.

My 2 cents..
Yuna
Quoting from the book The Education of a Speculator written by Victor Niederhoffer -

"I cannot refrain from noting here that there are so many Fibonacci retracement levels...that the chances are 50/50 that some high or some low will retrospectively occur within one point"
  • #455
  • Mar 10, 2008 7:14am Mar 10, 2008 7:14am
yuna

A break of asian session high might be occurring on GJ...


Attached Image (click to enlarge)
Click to Enlarge Name: GJ TODAY.JPG Size: 107 KB
  • #456
  • Mar 10, 2008 7:18am Mar 10, 2008 7:18am
Quoting yuna
Today price was rejected by daily pivot a few times. couldnt make a break above it currently..

Attachment

Yuna
Possible target;
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.gif Size: 22 KB
Measure twice, cut once
  • #457
  • Mar 10, 2008 7:19am Mar 10, 2008 7:19am
Quoting aiyahmarklah
yuna

A break of asian session high might be occurring on GJ...


Attachment
That could really help the outlook for longs today.
Measure twice, cut once
  • #458
  • Mar 10, 2008 7:19am Mar 10, 2008 7:19am
Quoting fising
Nice chart,,, Umair2004....
Thank's Fising...
Well Dude I Just Saw Your 'Custom User Title '' Hit & Run''
What you wana hit and why you wana Run LOL (Kidding)...
GoodLuck To your Journal...
  • #459
  • Mar 10, 2008 7:22am Mar 10, 2008 7:22am
Quoting Umairs2004
I jUst close the E/U 30 -Minutes breakdown for +30 Pips ,As i missed the chance to enter in a today's AUD/USD breakdown (See My previous Post with screenshot) Trade coz i was bit busy...
ECB President Trichet Speaks'' News is about to come ...
see the screenshot... Also seem's breakdown in 4-Hour chart is about the trigged...But i just exit coz of new's and as a day trader my daily target is now successfuly achieved...

Here is 1h char for eur/usd, it seems that price is heading downward. Notice that price have just touched monthly support @ 1.5466 and reversed from here. Could we see a larger retrace ?
Attached Image
Measure twice, cut once
  • #460
  • Mar 10, 2008 7:25am Mar 10, 2008 7:25am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting aediaz1
Here is 1h char for eur/usd, it seems that price is heading downward. Notice that price have just touched monthly support @ 1.5466 and reversed from here. Could we see a larger retrace ?
it's being supported by the rumours of an emergency fed fund rate reduction, possibly today, so watch closely.
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