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Drawing correct resistance and support-lines

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  • #1,321
  • Apr 15, 2008 5:16am Apr 15, 2008 5:16am
Quoting Dcb
I agree with your assessment. I have been watching the pairs this morning, and reassessing my opinion. The USD/GBP wants to go down to strong support area, but it is a struggle. I am posting some H2 charts of what I am looking at. We see if things move as the U.S. open gets closer.
I noticed that your gbp/usd is quoted opposite. I hope you're not buying 1 US for 1.9775 pound

Anyway watch your positions when US session enters the field. You rarely know whats next and it could screw your trades up if you don't pay attention.
Measure twice, cut once
  • #1,322
  • Apr 15, 2008 5:33am Apr 15, 2008 5:33am
Quoting aediaz1
I noticed that your gbp/usd is quoted opposite. I hope you're not buying 1 US for 1.9775 pound

Anyway watch your positions when US session enters the field. You rarely know whats next and it could screw your trades up if you don't pay attention.
I had to manually add the title of the pair, so I made a mistake. I am not in any trade at this time. I am still working at an other job, so I will have to shut down trading soon. Thank you for your comments, and help in our trading.
  • #1,323
  • Apr 15, 2008 5:47am Apr 15, 2008 5:47am
Quoting Dcb
I had to manually add the title of the pair, so I made a mistake. I am not in any trade at this time. I am still working at an other job, so I will have to shut down trading soon. Thank you for your comments, and help in our trading.
I see. Else I would get second thought about your broker lol.

No problem, good luck with your other job.
Measure twice, cut once
  • #1,324
  • Apr 15, 2008 6:20am Apr 15, 2008 6:20am
Potential pennant on 30m G/J.

Also note that U/J have broken TL on 30m.
Attached Image (click to enlarge)
Click to Enlarge Name: gjpennant30.gif Size: 15 KB
Measure twice, cut once
  • #1,325
  • Apr 15, 2008 6:35am Apr 15, 2008 6:35am
Quoting aediaz1
Potential pennant on 30m G/J.

Also note that U/J have broken TL on 30m.
Hi Aediaz!!!
I just locked +30 Pip's in G/J By going long through candlestick pattren
It was rocking ...in my favour just close it now......
  • #1,326
  • Apr 15, 2008 6:37am Apr 15, 2008 6:37am
Quoting Umairs2004
Hi Aediaz!!!
I just locked +30 Pip's in G/J By going long through candlestick pattren
It was rocking ...in my favour just close it now......
Hi bud, I'm favoring long on GJ right now. U/J might have given us a small hint on whats next, if it's not a trap. Time will tell
Measure twice, cut once
  • #1,327
  • Apr 15, 2008 6:41am Apr 15, 2008 6:41am
Quoting aediaz1
Hi bud, I'm favoring long on GJ right now. U/J might have given us a small hint on whats next, if it's not a trap. Time will tell
Nice but enter only if you manage to close before news which is about to announce excat after 45-Minutes...watchout
  • #1,328
  • Apr 15, 2008 6:53am Apr 15, 2008 6:53am
Hi thanks for the great thread, which I have been following from the side lines, I have a question - on the break of a triangle would you wait for the candle to close and trade based on the candle or wait for a pull back close to support and trade after the break out candle is surpassed. USDJPY 30 min looks good? but news in less than 1hour.

Thanks all

PAJ
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 15 apr.gif Size: 15 KB
  • #1,329
  • Apr 15, 2008 7:44am Apr 15, 2008 7:44am
Quoting Paj
Hi thanks for the great thread, which I have been following from the side lines, I have a question - on the break of a triangle would you wait for the candle to close and trade based on the candle or wait for a pull back close to support and trade after the break out candle is surpassed. USDJPY 30 min looks good? but news in less than 1hour.

Thanks all

PAJ
Hi, I usually take position soon as price hits high/low of pattern. Many prefer to wait for close outside pattern, which I do from time to time depending how comfortable I feel about the pattern. Like now, I opened long GJ as soon as it hit higher (and because U/J had broken TL for the upside) but turned out to be a fake breakout for now. If I waited for close, it would have saved me for some pips. Although, if price went rocked, I would have missed some pips (good money management is the key but should also be a lesion for trading patterns on anything lower than 1h). This is my "hybrid" version of it.
Measure twice, cut once
  • #1,330
  • Apr 15, 2008 9:42pm Apr 15, 2008 9:42pm
Quoting aediaz1
I noticed that your gbp/usd is quoted opposite. I hope you're not buying 1 US for 1.9775 pound

Anyway watch your positions when US session enters the field. You rarely know whats next and it could screw your trades up if you don't pay attention.
so do I.. feel very strange with the chart..
  • #1,331
  • Apr 15, 2008 9:59pm Apr 15, 2008 9:59pm
hope I draw right this time . it's a usd/jpy h1. broke the tl.. let's see. hoping a going down movement..
Attached Image
  • #1,332
  • Apr 16, 2008 4:53am Apr 16, 2008 4:53am
TL on GJ starting to form ascending triangle;
Attached Image (click to enlarge)
Click to Enlarge Name: 4hacsgj.gif Size: 15 KB
Measure twice, cut once
  • #1,333
  • Apr 16, 2008 4:54am Apr 16, 2008 4:54am
Quoting gunset
hope I draw right this time . it's a usd/jpy h1. broke the tl.. let's see. hoping a going down movement..
Your lower TL seems correct.
Measure twice, cut once
  • #1,334
  • Apr 16, 2008 5:58am Apr 16, 2008 5:58am
This is what I usually do before com ing to this thread.. combination between TL dan Hi-lo lines. this is a perfect sample on aud/usd h4. Just took the trade. please comments.
Attached Image
  • #1,335
  • Apr 16, 2008 6:05am Apr 16, 2008 6:05am
[quote=aediaz1;1952398]Hi, I usually take position soon as price hits high/low of pattern.

Thanks aediaz1, can you show an example, as I am not 100% clear on the statement.
  • #1,336
  • Apr 16, 2008 6:16am Apr 16, 2008 6:16am
Quoting gunset
This is what I usually do before com ing to this thread.. combination between TL dan Hi-lo lines. this is a perfect sample on aud/usd h4. Just took the trade. please comments.
Seems like you have a setup here. Also noticing that you're playing with the trend
Measure twice, cut once
  • #1,337
  • Apr 17, 2008 1:05am Apr 17, 2008 1:05am
Right... usually I look the h4 for the trend and m15 for the entry.. but have to have much patient in trading h4
  • #1,338
  • Apr 17, 2008 1:17am Apr 17, 2008 1:17am
Quoting gunset
Right... usually I look the h4 for the trend and m15 for the entry.. but have to have much patient in trading h4
The cool thing is that you only need to check you computer every 4 hour

TL for G/J;
Attached Image (click to enlarge)
Click to Enlarge Name: gjtl.gif Size: 15 KB
Measure twice, cut once
  • #1,339
  • Apr 17, 2008 2:21am Apr 17, 2008 2:21am
yup and have to veryyyyyy patient...
  • #1,340
  • Apr 18, 2008 3:22am Apr 18, 2008 3:22am
Hi There Guy's ...
Im Back after some holiday's...Well today we got some wounderfull breakout's specially Euro/Usd... Did anybody Noticed this breakout...???
Also Aud/Usd & Euro/Jpy got some cool breakout's......
Attached Image (click to enlarge)
Click to Enlarge Name: vvvvvvvvvvvvvvvvv.gif Size: 39 KB
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