Drawing correct resistance and support-lines | Page 46 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Drawing Correct Trendlines 58 replies

Drawing Gann Grid in mt4, the correct way 3 replies

Drawing correct S/R and pivot 8 replies

Drawing Objects vs Drawing lines 1 reply

Drawing support and resistance lines 4 replies

Attachments: Drawing correct resistance and support-lines
Exit Attachments

Drawing correct resistance and support-lines

  • Linked: Trend Trading | Brokerage Account XXXX22
  • Expand
  • Last Sync: Sep 13, 2016
Sep 13, 2016
Last Sync: Sep 13, 2016
Sep 13, 2016
Last Sync: Sep 13, 2016
Sep 13, 2016
Last Sync: Sep 13, 2016
Sep 13, 2016
Last Sync: Sep 13, 2016
to
No trading activity in this period.
  • #901
  • Mar 26, 2008 1:19am Mar 26, 2008 1:19am
Quoting yuna
I had a very light position shorting geppy. i'm at +34 now. there was divergence occuring at res(previous tl) may add more positions if my channel is broken.

Attachment

Wishing everyone a gd day ahead!

Yuna
Good trade Yuna combining divergence and resistance Many tend to trade divergence only which is too risky.
Measure twice, cut once
  • #902
  • Mar 26, 2008 1:24am Mar 26, 2008 1:24am
Ascending triangle on 1h GJ;



Watch out for news today, plenty of them.
Attached Image (click to enlarge)
Click to Enlarge Name: acsending1hgj.jpg Size: 97 KB
Measure twice, cut once
  • #903
  • Mar 26, 2008 1:29am Mar 26, 2008 1:29am
Quoting sDRs
Good morning guys,

i would like to share with you my chart, i just discovered interesting pattern, its with bolded lines, check this out.
an almost double bottom at pivot.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.9950.gif Size: 15 KB


Yuna
  • #904
  • Mar 26, 2008 1:33am Mar 26, 2008 1:33am
Quoting aediaz1
Good trade Yuna combining divergence and resistance Many tend to trade divergence only which is too risky.
Thank you . And candlesticks too .
  • #905
  • Mar 26, 2008 1:36am Mar 26, 2008 1:36am
Quoting aediaz1
Ascending triangle on 1h GJ;



Watch out for news today, plenty of them.
It's testing my channel now, which is almost the same as your ascending triangle line. but there's MPC coming soon..

Attached Image (click to enlarge)
Click to Enlarge Name: 1.9950.gif Size: 20 KB


Yuna
  • #906
  • Mar 26, 2008 1:39am Mar 26, 2008 1:39am
You want double bottoms to be within few pips to make them valid.
Measure twice, cut once
  • #907
  • Mar 26, 2008 1:41am Mar 26, 2008 1:41am
Quoting yuna
It's testing my channel now, which is almost the same as your ascending triangle line. but there's MPC coming soon..

Attachment

Yuna
How did you get that line to the right? (closest to currently price)

I don't see where it have been tested before.
Measure twice, cut once
  • #908
  • Mar 26, 2008 1:43am Mar 26, 2008 1:43am
Quoting aediaz1
You want double bottoms to be within few pips to make them valid.
point taken, u mean like this? only 1 pip difference.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.9950.gif Size: 14 KB


Yuna
  • #909
  • Edited 1:54am Mar 26, 2008 1:51am | Edited 1:54am
Quoting aediaz1
How did you get that line to the right? (closest to currently price)

I don't see where it have been tested before.
tt line was copied from the previous tl with the same angle. it was tested twice, the square i marked in the orange red. i drew this line a bit further away from the tested area(orange square) to for more conservative purpose to avoid spike. so basically it's your ascending triangle line but a bit further away.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.9950.gif Size: 21 KB


Yuna
  • #910
  • Mar 26, 2008 2:05am Mar 26, 2008 2:05am
Quoting yuna
point taken, u mean like this? only 1 pip difference.

Attachment

Yuna

Look for a double bar high, lower close or the opposite double bar low, higher close forming around S/R. James16 thread is a very good place to learn PA.


I said double bottom lol. This is double bottom;
Attached Image (click to enlarge)
Click to Enlarge Name: db.jpg Size: 79 KB
Measure twice, cut once
  • #911
  • Mar 26, 2008 2:38am Mar 26, 2008 2:38am
Quoting yuna
tt line was copied from the previous tl with the same angle. it was tested twice, the square i marked in the orange red. i drew this line a bit further away from the tested area(orange square) to for more conservative purpose to avoid spike. so basically it's your ascending triangle line but a bit further away.

Attachment

Yuna
Ok.

Price is bashing out of triangle;


Also look at 4h;
Attached Image (click to enlarge)
Click to Enlarge Name: acsending1hgj.gif Size: 16 KB
Attached Image
Measure twice, cut once
  • #912
  • Mar 26, 2008 3:04am Mar 26, 2008 3:04am
I sold the U/C, bought the E/U and G/U, and I made pips in all trade. BUT I am not pleased with my performance, but I am grateful for my growth and learning I experienced. I hope you had a good morning.
  • #913
  • Mar 26, 2008 3:18am Mar 26, 2008 3:18am
Quoting aediaz1
Look for a double bar high, lower close or the opposite double bar low, higher close forming around S/R. James16 thread is a very good place to learn PA.


I said double bottom lol. This is double bottom;
LOL. dun really understand what u mean . but mine wasnt a double top right? because the second bar did not made a lower close than the first bar?(ignoring SR lines)

Yuna
  • #914
  • Mar 26, 2008 3:22am Mar 26, 2008 3:22am
Quoting Dcb
I sold the U/C, bought the E/U and G/U, and I made pips in all trade. BUT I am not pleased with my performance, but I am grateful for my growth and learning I experienced. I hope you had a good morning.
As long as you made learning through your progress and understood why you made profit, its all good. In earlier stages of our trading-career its very important to gain knowledge rather than making profit. Why ?

When you make bad trades and losses money you get very eager to find out why you made a losing trade, right? You are now starting to do research (hopefully) of what did go wrong. And the info you find while you search after why your trade failed, tend to be very important.

If you made profits from day 1 you wouldn't learn much would you ?
Measure twice, cut once
  • #915
  • Mar 26, 2008 3:25am Mar 26, 2008 3:25am
Quoting Dcb
I sold the U/C, bought the E/U and G/U, and I made pips in all trade. BUT I am not pleased with my performance, but I am grateful for my growth and learning I experienced. I hope you had a good morning.
Yes a very nice morning today! i was lucky and Geppy is moving like crazy in my favour, had more than 200+ pips currently .
Did not take the UJ though..

Attached Image (click to enlarge)
Click to Enlarge Name: 1.9950.gif Size: 23 KB


Yuna
  • #916
  • Mar 26, 2008 3:36am Mar 26, 2008 3:36am
Quoting yuna
Yes a very nice morning today! i was lucky and Geppy is moving like crazy in my favour, had more than 200+ pips currently .
Did not take the UJ though..

Attachment

Yuna
WHAT? Unheard! twice my amount :
Measure twice, cut once
  • #917
  • Mar 26, 2008 3:57am Mar 26, 2008 3:57am
Quoting aediaz1
WHAT? Unheard! twice my amount :
haha, i already had an entry @200.80 trading the Cp+res+divergence. Aediaz, what's ur tp? i'll close all positions @ 197.50.

Yuna
  • #918
  • Mar 26, 2008 4:02am Mar 26, 2008 4:02am
Quoting yuna
haha, i already had an entry @200.80 trading the Cp+res+divergence. Aediaz, what's ur tp? i'll close all positions @ 197.50.

Yuna
Cheater I'm gonna close it when I see any reversal. So I'm just locking in pips while we cruise down. Call me optimistic but I'm looking for 194-193 area.
Measure twice, cut once
  • #919
  • Edited 4:41am Mar 26, 2008 4:11am | Edited 4:41am
Quoting aediaz1
Cheater I'm gonna close it when I see any reversal. So I'm just locking in pips while we cruise down. Call me optimistic but I'm looking for 194-193 area.
i'm confident abt my early entry because the "seller's zone" i was talking about in post #803 was tested a few times and holds. i believe the 194 area would be reached but not so soon..: JMHO

Yuna
  • #920
  • Mar 26, 2008 4:20am Mar 26, 2008 4:20am
Quoting yuna
i'm confident abt my early entry because the "seller's zone" i was talking about in post #805 was tested a few times and holds. i believe the 194 area would be reached but not so soon..: JMHO

Yuna
Well done sticking to your plan.

I see 194 area as an achievable target but we are talking long-term of course. We all know that GJ is bearish in the long run.
Measure twice, cut once
2 traders viewing now