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Drawing correct resistance and support-lines

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  • #1,261
  • Apr 10, 2008 5:41am Apr 10, 2008 5:41am
Quoting Umairs2004
Wellcome Back Mark and Hello EveryOne!!!
Seems its a very much busy day with lot of Important fundamental's......
Indeed Umairs. Had a profitable run so far today, so I'll be picky taking any more trades today. I'm currently watching 30m G/J flag pattern. Same on U/J.
Measure twice, cut once
  • #1,262
  • Apr 10, 2008 5:55am Apr 10, 2008 5:55am
very near to news time now...
  • #1,263
  • Apr 10, 2008 7:51am Apr 10, 2008 7:51am
Is it just me ? Market doesn't seem to offer any clues at the moment..
  • #1,264
  • Apr 10, 2008 8:18am Apr 10, 2008 8:18am
thks for the indicator, i've been looking for something like that for sometime.
  • #1,265
  • Apr 10, 2008 10:56am Apr 10, 2008 10:56am
Woow Im unable to decide that in which pair i go long...
G/J , E/J , U/J & Usd/Chf all pair's got excellent breakup's and with excellent Pip's... I,ll Post the screenshot later but Seems today is the another successful breakout day......
  • #1,266
  • Apr 10, 2008 3:21pm Apr 10, 2008 3:21pm
Quoting aiyahmarklah
Is it just me ? Market doesn't seem to offer any clues at the moment..
Yeah, not until now. Starting to see flag patterns on different pairs. I have an close eye to eur/usd right now;
Attached Image (click to enlarge)
Click to Enlarge Name: euflag30m.jpg Size: 83 KB
Measure twice, cut once
  • #1,267
  • Apr 10, 2008 3:23pm Apr 10, 2008 3:23pm
Quoting Umairs2004
Woow Im unable to decide that in which pair i go long...
G/J , E/J , U/J & Usd/Chf all pair's got excellent breakup's and with excellent Pip's... I,ll Post the screenshot later but Seems today is the another successful breakout day......
I'm seeing patterns on every pair too lol. Eager to see what Asia session gives us.

Mark, our Asian specialists, what potential do you see ?
Measure twice, cut once
  • #1,268
  • Apr 10, 2008 11:03pm Apr 10, 2008 11:03pm
Asian market now is fall asleep!!! not much movement on every pair!
  • #1,269
  • Apr 10, 2008 11:16pm Apr 10, 2008 11:16pm
Quoting gunset
Asian market now is fall asleep!!! not much movement on every pair!
yeah... im waiting for the breakout to the south for geepy as well as cable..

what say you buddy???
  • #1,270
  • Apr 11, 2008 12:42am Apr 11, 2008 12:42am
I don't really watch the gbp/jpy.. and the cable looks like sleepy....
  • #1,271
  • Apr 11, 2008 1:53am Apr 11, 2008 1:53am
ah.. market star moving.. grab 10pips from eur/usd.. please advice..
Attached Image (click to enlarge)
Click to Enlarge Name: euh1flag110408.jpg Size: 99 KB
  • #1,272
  • Apr 11, 2008 2:00am Apr 11, 2008 2:00am
Quoting gunset
ah.. market star moving.. grab 10pips from eur/usd.. please advice..

Good catch!

Holding my entry at cable, 1.9750 while geepy at 201.50...
Hope for a good catch...

Cheers!
  • #1,273
  • Apr 11, 2008 6:10am Apr 11, 2008 6:10am
Broadening top on 1h U/J. So I'm targeting a 70 pip drop on U/J which should also affect G/J.

Measuring target with broadening top pattern: High - low distance and add to breakout-level (about 70 pips here)
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 14 KB
Measure twice, cut once
  • #1,274
  • Apr 11, 2008 6:29am Apr 11, 2008 6:29am
just want to give another perpective on the same chart for usd/jpy, h1.. too bad too late for entry.. miss my 10pips target
Attached Image (click to enlarge)
Click to Enlarge Name: ujh1flag1104.jpg Size: 91 KB
  • #1,275
  • Apr 11, 2008 6:42am Apr 11, 2008 6:42am
Quoting gunset
just want to give another perpective on the same chart for usd/jpy, h1.. too bad too late for entry.. miss my 10pips target
I really respect your 10pip target. Such a realistic target for starters. Good way to built up your confidence.

Yeah, a bit late now. Watch U/J if/when we come down to 101 again. A break below here would be good for bears IMO.
Measure twice, cut once
  • #1,276
  • Apr 11, 2008 9:31am Apr 11, 2008 9:31am
Hi Guy's It's a good day today also...Some very good breakout's like E/J , N/U , G/J E/U & Specially Usd/Cad...
I was with N/U & Just close my Short Position......
  • #1,277
  • Apr 11, 2008 9:33am Apr 11, 2008 9:33am
Quoting aediaz1
I really respect your 10pip target. Such a realistic target for starters. Good way to built up your confidence.
Agreed with you Aediaz...
I think JuSt +10 Pip's for a starter is an excellent strategy toward success......
  • #1,278
  • Apr 11, 2008 10:33am Apr 11, 2008 10:33am
Quoting Umairs2004
Hi Guy's It's a good day today also...Some very good breakout's like E/J , N/U , G/J E/U & Specially Usd/Cad...
I was with N/U & Just close my Short Position......
Had a good run on e/u long and some few pips on U/J. Been a busy day here at FF today, a lot of post to read up on
Measure twice, cut once
  • #1,279
  • Apr 11, 2008 10:57am Apr 11, 2008 10:57am
What patterns I will be closely watching next week;

Cable daily: Ascending triangle breakout. Resistance now confirmed. Looking for continuation of downward movement. Once flag on 30m breaks to the downside, I'm in.

Flag U/J: Channeling out of the daily flag-pattern and I'm looking for a close below lowest point inside of flag.

Check out chf/jpy as well on daily, nice flag we have there.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dialy cable.gif Size: 19 KB
Click to Enlarge Name: uj daily flag.gif Size: 12 KB
Measure twice, cut once
  • #1,280
  • Apr 12, 2008 1:37am Apr 12, 2008 1:37am
Quoting aediaz1
Flag U/J: Channeling out of the daily flag-pattern and I'm looking for a close below lowest point inside of flag.

Check out chf/jpy as well on daily, nice flag we have there.
why did you wait for close below lowest point inside of flag?? I think it should be outside of flag to confirm the break?
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