Drawing correct resistance and support-lines
EUR/USD update...
Broke resistance , evidently it is also the asia session high, 50+ pips in less than 1 hour and still running...
Attachment
As I said In my last Post seem's breaKdown in 30-Minutes and it did drop's down for +16-Pip's but again retraces back coz of reversal candle in a 30-Minutes chart... see the screenshot of AUD/USD...
And about USD/CAD i also said i was waiting for an important breakdown in 4-Hour chart... I also found a breakdown in a 30-Minutes chart but close my position for just some pip's coz i also found a revesal candle in it... but i said im waiting for some important breakdown if it happened then this pair will drop down more and see it's four hour chart ... breakdown accured and drop's for almost +80-Pip's a good solid breakdown...
Being a day trader I always like to enter in a good short term's trades... Through 30-Minutes chart if the trend is in my favour...see the screeshot's...
As I said In my last Post seem's breaKdown in 30-Minutes and it did drop's down for +16-Pip's but again retraces back coz of reversal candle in a 30-Minutes chart... see the screenshot of AUD/USD...
And about USD/CAD i also said i was waiting for an important breakdown in 4-Hour chart... I also found a breakdown in a 30-Minutes chart but close my position for just some pip's coz i also found a revesal candle in it... but i said im waiting for some important breakdown if it happened then this pair will drop down more and see it's four hour chart ... breakdown accured and drop's for almost +80-Pip's a good solid breakdown...
Being a day trader I always like to enter in a good short term's trades... Through 30-Minutes chart if the trend is in my favour...see the screeshot's...
see 4H chart
Hello all, good to see you holding the thread going ! Many nice posts and charts.
I hope someone made some good pips on GJ.
My fibs is the only r/s I have in play right now. And price reversed by 100 pips when hitting 38.2% Targeting 208.47, 50%.
, usually I bo chap (ignore) the news. However if I find them to be important enough to disrupt all technical observations, then I stay out. The long term view of GBP/USD is still weak, considering the downswing is larger than all previous downswings, they may be in a correction of a major downtrend...below is a weekly chart
Yes i think so too
Many Huat pips to you today
Attachment
Hahaha, the news makes analysis bei zun(not accurate). I believe in the long term Cable is weak also, but because of the US recession which makes USD weak.
Thanks, Huat ah!
Yuna
Hello Umairs, for the AU, i believe the reversal candle is because support was found at previous trendline
Attachment
Attachment
Yuna
Where is the reversal candle you talking about ? I mean what is the standard candlestick pattern look like in terms of your analysis in these pairs ?
Thanks
....Kindding.... My friend don't bank on US recession, historically, election years are bullish, especially at second half of the year. The USD may be artificially strengthened in the months to come.
caveat emptor
Cheers
Yes Yuna right You got ...well see my Post No# 579 with screenshot...In which i have clearly pointed about revesal candle in 30-Minutes chart...well also i wana tell you something that the impact of reversal candles in 30-Minutes and less is not much i mean not more than 30/40 Pip's and depend's... The real and strong impact of revesal candles is starts from 1-Hour to more tf's...
Preety High Impact...Also 30-Minutes and less Tf's reversals' are temperory reversal's but my SL is as a day trader just -30---40 Pips do i avoide to carry on after reversals in 30-Minuts...
Now we have something intresting about AUD/USD in 4-Hour Tf... seem's it will show some bearish movement...Let's see...
Thank you all
Ok, lets see some charts;
Look at the resistance we are facing on 4h chart. This resistance have been tested 11 (!) times on 4h chart without a break. If price manage to break this line I think we could see high numbers on GJ. If 203.44 is broken, we could expect the opposite, IMO Price have stalled @ broken supportline for now.
