Measure twice, cut once
Drawing correct resistance and support-lines
- #603
- Mar 12, 2008 10:19am Mar 12, 2008 10:19am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
I am sorry aediaz1, those are fibs and ?
Measure twice, cut once
- #604
- Mar 12, 2008 10:26am Mar 12, 2008 10:26am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #606
- Mar 12, 2008 10:58am Mar 12, 2008 10:58am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #607
- Mar 12, 2008 11:20am Mar 12, 2008 11:20am
There are lot of conditions and circumstances yuna... Not only pulls back... See all my posted screenshots.... You will find something intresting about my entry...yA its ture i enter in a next candle after the breakage but i also see the shape of candle which breaks the trendline... I mean if it's breaks the upper line of trendline than the candle which breaks the upper line of trendlines must be bullish ... I mean it must not be bearish & vice-versa( Important factor)...
-- Also breakage accured almost in it's middle body... cadles wicks have no impact...(2nd Important factor)....
--- Im using some commen indicator's to enter in a trade like...Ssto, Ma's, Rsi and other's... I like to enter when every thing is my favour and in right place...(3rd imp. Factor)
---Also Before entering in a trade I Observed the candle's shape which breaks the trendline ...It must be in my favour...This is the most important factor as there are lot of candles with different shapes which may breaks the Trendlines but all of them are not affective and valid... Just some of them... anD If you wana know which of them are affective and valid then save all the screenshots of my this threads post's... and monitor and observed these candles which breaks the trendlines and see the after affects... I know it may take some time but believe me no body teache's me ...Im my own teacher lol and I also save all the screenshots of my winning/losing trades and observed them in my free time... From this observation i came to know which candle is important/valid and which is not while breaking the trendlines...I hope you may learn alot but with patience...
GoodLuck
thanks.
Yuna
- #608
- Mar 12, 2008 11:57am Mar 12, 2008 11:57am
- | Joined Oct 2007 | Status: Technical Trader | 765 Posts
Well Sorry for the little late response ..I was bit busy today throughout the day ... I Just saw... well see the screenshot...
Nopp!!! well read my previous post about this fact carefully... I said if the the TL Broke the candle than valid and strong situation with solid impact must be like...
1).... If a i-e Upper line of a valid TL Breaks than the TL Must break's it from the middle of the candle and the breaking candle must be bullish and specially TL which you draw's by ur hand must be valid... (Not from De-Mark Indicator coz i have no experience of this indicator)........
2)... If the candle which break's the TL and then wait till the next candle like me ...examine the situation TL Must not be on candles wick coz sometimes it happened that candle breaks the TL and then retraces back and it's wick remain's on TL...Noppp it's not valid...( My experience)....
Nopp!!! well read my previous post about this fact carefully... I said if the the TL Broke the candle than valid and strong situation with solid impact must be like...
1).... If a i-e Upper line of a valid TL Breaks than the TL Must break's it from the middle of the candle and the breaking candle must be bullish and specially TL which you draw's by ur hand must be valid... (Not from De-Mark Indicator coz i have no experience of this indicator)........
2)... If the candle which break's the TL and then wait till the next candle like me ...examine the situation TL Must not be on candles wick coz sometimes it happened that candle breaks the TL and then retraces back and it's wick remain's on TL...Noppp it's not valid...( My experience)....
- #609
- Mar 12, 2008 12:03pm Mar 12, 2008 12:03pm
- | Joined Feb 2008 | Status: FOREX - 10% skills, 90% psychology | 1,000 Posts
Well Sorry for the little late response ..I was bit busy today throughout the day ... I Just saw... well see the screenshot...
Thats really risky move and the price is getting back in the triangle.. hurm..
Bdw, do u think tf below 30 is a lil bit noisy???
- #611
- Mar 12, 2008 1:06pm Mar 12, 2008 1:06pm
Well Sorry for the little late response ..I was bit busy today throughout the day ... I Just saw... well see the screenshot...
Nopp!!! well read my previous post about this fact carefully... I said if the the TL Broke the candle than valid and strong situation with solid impact must be like...
1).... If a i-e Upper line of a valid TL Breaks than the TL Must break's it from the middle of the candle and the breaking candle must be bullish and specially TL which you draw's by ur hand must be valid... (Not from De-Mark Indicator coz i have no experience of this indicator)........
2)... If the candle which break's the TL and then wait till the next candle like me ...examine the situation TL Must not be on candles wick coz sometimes it happened that candle breaks the TL and then retraces back and it's wick remain's on TL...Noppp it's not valid...( My experience)....
i just wanna hear ur views on this "case study" 
Thanks also.
Yuna
[
what do you do if break down the 203.44??you will not see lines to draw the suport area.
quote=aediaz1;1898963]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.[/quote]
what do you do if break down the 203.44??you will not see lines to draw the suport area.
quote=aediaz1;1898963]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.[/quote]
Sorry about my english...
- #613
- Mar 12, 2008 2:12pm Mar 12, 2008 2:12pm
- Joined Jan 2008 | Status: Trader | 1,043 Posts
painfully slow...not like this pair to behave like that...I am out 
- #614
- Mar 12, 2008 2:42pm Mar 12, 2008 2:42pm
- | Joined Oct 2007 | Status: Technical Trader | 765 Posts
WOOW This Pair is breaking some good resistance level's and frankly speaking I was expecting it to drop but technically speaking see the screenshot... +45-Pip's Max. Breakup Move is there in 4-Hour chart...
- #615
- Mar 12, 2008 3:18pm Mar 12, 2008 3:18pm
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #616
- Mar 12, 2008 3:22pm Mar 12, 2008 3:22pm
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
- #617
- Mar 12, 2008 3:33pm Mar 12, 2008 3:33pm
- Joined Aug 2007 | Status: Trader | 3,135 Posts
WOOW This Pair is breaking some good resistance level's and frankly speaking I was expecting it to drop but technically speaking see the screenshot... +45-Pip's Max. Breakup Move is there in 4-Hour chart...
Are we looking for continuation of upward trend ?
I was also expecting a larger drop in this pair, but seems like we both where wrong
Measure twice, cut once
- #618
- Edited 4:46pm Mar 12, 2008 4:29pm | Edited 4:46pm
- Joined Aug 2007 | Status: Trader | 3,135 Posts
Measure twice, cut once
WOOW This Pair is breaking some good resistance level's and frankly speaking I was expecting it to drop but technically speaking see the screenshot... +45-Pip's Max. Breakup Move is there in 4-Hour chart...
Sorry about my english...
