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Drawing correct resistance and support-lines

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  • #621
  • Mar 12, 2008 5:04pm Mar 12, 2008 5:04pm
Quoting CIORIMAU--
Take a look my friend!!!!What do you think???UP OR DOWN??This is why i like using fibonacci!!!
I will start thinking if price is going down to 203.44 area
Measure twice, cut once
  • #622
  • Mar 12, 2008 11:17pm Mar 12, 2008 11:17pm
What say you people?

Attached Image (click to enlarge)
Click to Enlarge Name: gu at 12pm.gif Size: 12 KB
  • #623
  • Mar 13, 2008 1:15am Mar 13, 2008 1:15am
Quoting CIORIMAU--
UMAIR, I DONT UNDERSTAND WHY YOU DREW THIS SUPORT TRENDILINE THAT TOUCH JUST IN ONE CANDLE.I THINK UOU HAVE TO TOUCH IN TWO CANDLES AT LEAST.AM I WRONG?
Hey I didn't understand ur question Much..But see the screenshot that why i draw this successfull trendline in AUD/USD 4-Hour chart... A successfull breakup is there for almost +100-Pip's...Well As far as i understand your question that why i draw a trendline that touches just a single candle Right...???
But buddy see it's importance it was a strong line as candle touches and bounces back for almost +200-Pip's. It's not necessery that there must be a single candle well The important thing is there importance that how much the candles bounces back after fails to break. like here...Also see the screenshot you will know that how valid I draw them as after the breakup it moves for +100 Pip's alomst...
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  • #624
  • Mar 13, 2008 2:02am Mar 13, 2008 2:02am
umairs,

what say you on GU?
  • #625
  • Mar 13, 2008 2:17am Mar 13, 2008 2:17am
Quoting johnbaem
umairs,

what say you on GU?
Still Bullish...reason is the weekly chart... A CLEAN breakup is there... More than 400/500 Pip's... Maybe we may found some short term short trade apportunity through 30-Minutes chart but not for much pip's... But im now waiting for some important breakdown's from 4-Hour chart...if it successfully did than bearish side may got some good down boast...Otherwise remain's bullish...See The both screenshot's...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu-weekly.gif Size: 41 KB
Click to Enlarge Name: gu---4hour.gif Size: 40 KB
  • #626
  • Mar 13, 2008 2:39am Mar 13, 2008 2:39am
Quoting Umairs2004
Still Bullish...reason is the weekly chart... A CLEAN breakup is there... More than 400/500 Pip's... Maybe we may found some short term short trade apportunity through 30-Minutes chart but not for much pip's... But im now waiting for some important breakdown's from 4-Hour chart...if it successfully did than bearish side may got some good down boast...Otherwise remain's bullish...See The both screenshot's...
yeah... i failed to properly seeing weekly breakoff.. it wasnt a good one for me and that result the failure as of now.. i should alerting more on it larger time frame since theres few break out on lower tf.. hurm..
  • #627
  • Mar 13, 2008 6:28am Mar 13, 2008 6:28am
Most currencies strength are contributed by a weak dollar, no signs of anything changing soon either...hopefully a correction. Below is a weekly USD index chart


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  • #628
  • Mar 13, 2008 6:41am Mar 13, 2008 6:41am
Quoting aiyahmarklah
Most currencies strength are contributed by a weak dollar, no signs of anything changing soon either...hopefully a correction. Below is a weekly USD index chart


Attachment
Good reading why dollar plumps; http://www.bloomberg.com/apps/news?pid=20601087&sid=ai0t_0022FqY&refer=home
Measure twice, cut once
  • #629
  • Mar 13, 2008 7:07am Mar 13, 2008 7:07am
Quoting aediaz1
Good reading why dollar plumps; http://www.bloomberg.com/apps/news?pid=20601087&sid=ai0t_0022FqY&refer=home
thanks aediaz1

I suppose it created some sort of domino effect. But currencies movements are circular in nature, should be interesting to see how the dollar will perform. In the mean time lets just reap the pips up or down . But do be wary of surprises...

Damm gotta change my savings to RMB soon..or Euros ?
  • #630
  • Mar 13, 2008 7:17am Mar 13, 2008 7:17am
4 hr and Daily are best.


Correctly drawn its all you need. Its all I use.
  • #631
  • Mar 13, 2008 7:52am Mar 13, 2008 7:52am
Quoting xxDavidxSxx
4 hr and Daily are best.


Correctly drawn its all you need. Its all I use.
Word of wisdom. The efficient of 2 lines could be huge.
Measure twice, cut once
  • #632
  • Mar 13, 2008 7:57am Mar 13, 2008 7:57am
Quoting aiyahmarklah
thanks aediaz1

I suppose it created some sort of domino effect. But currencies movements are circular in nature, should be interesting to see how the dollar will perform. In the mean time lets just reap the pips up or down . But do be wary of surprises...

Damm gotta change my savings to RMB soon..or Euros ?
Measure twice, cut once
  • #633
  • Mar 13, 2008 9:16am Mar 13, 2008 9:16am
Nice thread you have here aediaz1 . Looking to post some chart too
  • #634
  • Mar 13, 2008 9:28am Mar 13, 2008 9:28am
Haha how come nobody posting Geppy today?

The fort at 203.50 area seems weaker defense due to weaker rejection force and a lower low. JMHO

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Attached Image (click to enlarge)
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Yuna
  • #635
  • Mar 13, 2008 10:41am Mar 13, 2008 10:41am
We might seeing something for GU.. This might be a good one..

Attach GU at TF1H and TF4H.. enjoy..

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: gu at tf4 hour.gif Size: 10 KB
  • #636
  • Mar 13, 2008 10:44am Mar 13, 2008 10:44am
Quoting ydaudw
Nice thread you have here aediaz1 . Looking to post some chart too
Thank you. Contributes from different members sharing their own knowledge have made this thread meaningful. I hope this can continue. FF never stop amaze me with talented and focused participants
Measure twice, cut once
  • #637
  • Mar 13, 2008 10:48am Mar 13, 2008 10:48am
Quoting yuna
Haha how come nobody posting Geppy today?

The fort at 203.50 area seems weaker defense due to weaker rejection force and a lower low. JMHO

Attachment

Attachment

Yuna
I want GJ to break either 207.50 area or 203.44 area ! When that is done, charts will rain
Measure twice, cut once
  • #638
  • Mar 13, 2008 10:52am Mar 13, 2008 10:52am
Quoting johnbaem
We might seeing something for GU.. This might be a good one..

Attach GU at TF1H and TF4H.. enjoy..

Attachment

Attachment
Be aware of the currently strong trend. I don't see this pair going much lower than .0200. If so, further downside COULD be possible. But for me right now, I'm only looking for positions with the trend;
Attached Image
Measure twice, cut once
  • #639
  • Mar 13, 2008 3:04pm Mar 13, 2008 3:04pm
NZDUSD Daily chart.
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  • #640
  • Mar 13, 2008 4:17pm Mar 13, 2008 4:17pm
Quoting WTB
NZDUSD Daily chart.
Nice to see you drop a chart in here Hector.

I have enjoyed watching your videos and blogs on your homepage.

Keep up the good work.
Measure twice, cut once
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