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Drawing correct resistance and support-lines

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  • #1,161
  • Apr 7, 2008 10:18pm Apr 7, 2008 10:18pm
found a flag on eu m30!! is this correct?
Attached Image
  • #1,162
  • Apr 7, 2008 11:19pm Apr 7, 2008 11:19pm
It's broken and grab my 10 pips
  • #1,163
  • Apr 7, 2008 11:53pm Apr 7, 2008 11:53pm
Quoting LeveragedJoe
Many thanx, appreciated that.

Cannot contribute in any useful way to this thread as i'm just a newby, but been following you and the other great traders here
we all newbie here.. that's why we all here. to learn... start posting your chart buddy..
  • #1,164
  • Apr 8, 2008 2:10am Apr 8, 2008 2:10am
AnyBody Noticed G/J Short term short trade Before Important GBD Data...??
I Just close my position before important G/J Data...But Data was also in my favour......
Attached Image (click to enlarge)
Click to Enlarge Name: gjooooooooooo.gif Size: 39 KB
  • #1,165
  • Apr 8, 2008 2:12am Apr 8, 2008 2:12am
There was another breakdown in GU.......
Attached Image (click to enlarge)
Click to Enlarge Name: guxxxxxxxxxxx.gif Size: 36 KB
  • #1,166
  • Apr 8, 2008 2:21am Apr 8, 2008 2:21am
Anybody long in EU?
  • #1,167
  • Apr 8, 2008 2:38am Apr 8, 2008 2:38am
Quoting Umairs2004
There was another breakdown in GU.......
Still looking for a break of descending triangle on daily;
Attached Image (click to enlarge)
Click to Enlarge Name: gudialy.gif Size: 16 KB
Measure twice, cut once
  • #1,168
  • Apr 8, 2008 2:40am Apr 8, 2008 2:40am
Quoting johnbaem
Anybody long in EU?
Another big move in Asia session on e/u, missed it all.
Attached Image (click to enlarge)
Click to Enlarge Name: pennant30eu.gif Size: 13 KB
Measure twice, cut once
  • #1,169
  • Apr 8, 2008 2:42am Apr 8, 2008 2:42am
Quoting aediaz1
Another big move in Asia session on e/u, missed it all.
sama goes to me.. only manage a move a 1.9746...
  • #1,170
  • Apr 8, 2008 2:42am Apr 8, 2008 2:42am
Quoting gunset
found a flag on eu m30!! is this correct?
Have you read up on flags gunset ? It's still wrong. Try and read the guide on different patterns posted as #1 on this thread.
Measure twice, cut once
  • #1,171
  • Apr 8, 2008 2:46am Apr 8, 2008 2:46am
Hi Guys AUD/USD & N/U Looks bearish to me...Lets see... ...
  • #1,172
  • Apr 8, 2008 3:30am Apr 8, 2008 3:30am
Quoting aediaz1
Have you read up on flags gunset ? It's still wrong. Try and read the guide on different patterns posted as #1 on this thread.
I think Gunset Need more practice about drawing correct support and resistance lines...It maybe any flag pattren or simple Trendlines of all kind...
If you dont dont draw them valid then it may creat trouble for you......
  • #1,173
  • Apr 8, 2008 3:36am Apr 8, 2008 3:36am
Quoting Umairs2004
Hi Guys AUD/USD & N/U Looks bearish to me...Lets see... ...
Hi Umairs. A break below could generate some few pips to the downside but we should not forget how strong upward trend A/U is in. Descending on 30m;
Attached Image (click to enlarge)
Click to Enlarge Name: au30m.gif Size: 16 KB
Measure twice, cut once
  • #1,174
  • Apr 8, 2008 3:46am Apr 8, 2008 3:46am
Quoting aediaz1
Hi Umairs. A break below could generate some few pips to the downside but we should not forget how strong upward trend A/U is in. Descending on 30m;
Me with Accending On same 30-Minutes for +20 Pips down move when I saw That Looks bearish...UpTrend was very Much Strong but next few hours will be Important... Let's see Who Win's the battle Bear's or Bull.......
Attached Image (click to enlarge)
Click to Enlarge Name: aunnnnnnnnnnnnn.gif Size: 33 KB
  • #1,175
  • Apr 8, 2008 3:49am Apr 8, 2008 3:49am
Do you think it will remain quiet until the U.S. news comes out today?
  • #1,176
  • Apr 8, 2008 3:51am Apr 8, 2008 3:51am
Quoting aediaz1
Have you read up on flags gunset ? It's still wrong. Try and read the guide on different patterns posted as #1 on this thread.
sorry bout it :0 have to learn much more.. think It's a valid flag sorry..
  • #1,177
  • Apr 8, 2008 3:53am Apr 8, 2008 3:53am
Quoting Umairs2004
Me with Accending On same 30-Minutes for +20 Pips down move when I saw That Looks bearish...UpTrend was very Much Strong but next few hours will be Important... Let's see Who Win's the battle Bear's or Bull.......
Another way of drawing them lines Bulls seems strong so far.
Attached Image (click to enlarge)
Click to Enlarge Name: au30m.gif Size: 20 KB
Measure twice, cut once
  • #1,178
  • Apr 8, 2008 3:57am Apr 8, 2008 3:57am
Quoting Dcb
Do you think it will remain quiet until the U.S. news comes out today?
All pairs are moving so I guess the answer is no
Measure twice, cut once
  • #1,179
  • Apr 8, 2008 3:58am Apr 8, 2008 3:58am
Quoting gunset
sorry bout it :0 have to learn much more.. think It's a valid flag sorry..
Nothing to be sorry about. Just make sure you read up on flags and I'm sure it would be easier to spot those events.
Measure twice, cut once
  • #1,180
  • Apr 8, 2008 4:03am Apr 8, 2008 4:03am
Quoting Umairs2004
I think Gunset Need more practice about drawing correct support and resistance lines...It maybe any flag pattren or simple Trendlines of all kind...
If you dont dont draw them valid then it may creat trouble for you......

You got a point, learning to draw correct lines before flags and other formation might be easier.

How was that line "Learn to walk, then run" statement
Measure twice, cut once
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