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Drawing correct resistance and support-lines

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  • #1,661
  • May 13, 2008 12:42am May 13, 2008 12:42am
Quoting Dcb
I am becoming a better and consistent trader because of your comments and this thread.
Good to hear Dcb. It's really pleasant to read those words. Too many give up after 3-12 months. Never give up. Keep it up Dcb !
Measure twice, cut once
  • #1,662
  • May 13, 2008 1:19am May 13, 2008 1:19am
Quoting jupiter_peak
apologies for my ignorance, but what did you mean?
I mean, that mainly EU and gold move in the same direction and if pay attention to gold fall, which was in current and previous months, i think its good buy opportunity
  • #1,663
  • May 13, 2008 2:14am May 13, 2008 2:14am
G/U looks down.
Attached Image (click to enlarge)
Click to Enlarge Name: G.U.png Size: 26 KB
  • #1,664
  • May 13, 2008 2:34am May 13, 2008 2:34am
What is your opinion of the E/U?
Attached Image (click to enlarge)
Click to Enlarge Name: E.U.png Size: 28 KB
  • #1,665
  • May 13, 2008 2:44am May 13, 2008 2:44am
Morning,

im pretty messed up about cable. Look at chart below, mainly, cable should be at the bottom of donwtrend channel, which means probably up, we now, that cable loves to range, right?
Look at my blue line, it shows, that cable broke important donwtrend line yesterday, so probably up, or its just a fake?
News should hint directions way, im still confused
Attached Image (click to enlarge)
Click to Enlarge Name: cable_a.gif Size: 16 KB
  • #1,666
  • May 13, 2008 2:54am May 13, 2008 2:54am
Quoting sDRs
Morning,

im pretty messed up about cable. Look at chart below, mainly, cable should be at the bottom of donwtrend channel, which means probably up, we now, that cable loves to range, right?
Look at my blue line, it shows, that cable broke important donwtrend line yesterday, so probably up, or its just a fake?
News should hint directions way, im still confused
I thought G/U was going to go down, but now it is not giving any indication of where it is going. I am waiting for the news to see if it gets G/U off the fence.
Attached Image (click to enlarge)
Click to Enlarge Name: G.U.png Size: 27 KB
  • #1,667
  • May 13, 2008 3:13am May 13, 2008 3:13am
I am trying to get a clue of what G/U will do when the news comes out.
Attached Image (click to enlarge)
Click to Enlarge Name: G.U.png Size: 25 KB
  • #1,668
  • May 13, 2008 3:48am May 13, 2008 3:48am
I decided to leave the G/U alone and instead sell the E/U.
Attached Image (click to enlarge)
Click to Enlarge Name: E.U.png Size: 26 KB
  • #1,669
  • May 13, 2008 4:07am May 13, 2008 4:07am
Quoting Dcb
I decided to leave the G/U alone and instead sell the E/U.
Hmm., i decided not to trade today at all But i doubt about eu fall, have a look

Unless here was just fake
Attached Image (click to enlarge)
Click to Enlarge Name: eu_a.gif Size: 14 KB
  • #1,670
  • May 13, 2008 4:11am May 13, 2008 4:11am
Quoting Dcb
I decided to leave the G/U alone and instead sell the E/U.
Just Sold EU too..

Waiting for USDCHF to break...
  • #1,671
  • May 13, 2008 4:19am May 13, 2008 4:19am
good luck with those trades...
  • #1,672
  • May 13, 2008 4:35am May 13, 2008 4:35am
Quoting jupiter_peak
Just Sold EU too..

Waiting for USDCHF to break...
Don't just hate how the price goes back and forth, and just want keep moving?
  • #1,673
  • May 13, 2008 4:43am May 13, 2008 4:43am
Made just a few pips for EU.

It could not go very far anyway. We are in a strong daily uptrend an Pivot was a strong magnet. Better wait for it to break H4 UTL. It should be big.

Jupiter.
  • #1,674
  • May 13, 2008 4:53am May 13, 2008 4:53am
Quoting jupiter_peak
Made just a few pips for EU.

It could not go very far anyway. We are in a strong daily uptrend an Pivot was a strong magnet. Better wait for it to break H4 UTL. It should be big.

Jupiter.
Yes, I exited too.
  • #1,675
  • May 13, 2008 4:58am May 13, 2008 4:58am
Quoting Dcb
I am trying to get a clue of what G/U will do when the news comes out.
D1 - Descending triangle limited by a strong LTL.

H4 - Descending wedge limited by D1 strong LTL.

H1 - Descending wedge limited by H4 LTL and D1 LTL.

So,I may think it will bounce back up for this week and maybe (and it's a maybe), it could go down sometime this month.

For now it's just playing between UTL and LTL ups and downs. It should hit LTL (around S1) and bounce back up. If it does, you can go long for a few pips...

Jupiter.
  • #1,676
  • May 13, 2008 5:03am May 13, 2008 5:03am
U/C just broke H1 UTL. Lets see where it takes...

Maybe not too far (R1 maybe) I did not take it...

Did anyonetake it?
  • #1,677
  • May 13, 2008 5:04am May 13, 2008 5:04am
Quoting jupiter_peak
D1 - Descending triangle limited by a strong LTL.

H4 - Descending wedge limited by D1 strong LTL.

H1 - Descending wedge limited by H4 LTL and D1 LTL.

So,I may think it will bounce back up for this week and maybe (and it's a maybe), it could go down sometime this month.

For now it's just playing between UTL and LTL ups and downs. It should hit LTL (around S1) and bounce back up. If it does, you can go long for a few pips...

Jupiter.
Time will tell. My H2 chart of G/U
Attached Image (click to enlarge)
Click to Enlarge Name: G.U.png Size: 28 KB
  • #1,678
  • May 13, 2008 5:17am May 13, 2008 5:17am
Quoting jupiter_peak
Made just a few pips for EU.

It could not go very far anyway. We are in a strong daily uptrend an Pivot was a strong magnet. Better wait for it to break H4 UTL. It should be big.

Jupiter.

Having a more insighful look, I noticed that we are in an ascending wegde (H1) inside a descending wegde (H4)!?!?!?! Which one will prevail?

There is a strong possibility that H1 loses this battle and price will go down towards the H4 LTL.

I really want to be here when it breaks...

Tell me your thoughts.
  • #1,679
  • May 13, 2008 5:21am May 13, 2008 5:21am
Some good Pip's On Usd/Cad Guy's
Attached Image (click to enlarge)
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  • #1,680
  • May 13, 2008 5:25am May 13, 2008 5:25am
Quoting jupiter_peak
Having a more insighful look, I noticed that we are in an ascending wegde (H1) inside a descending wegde (H4)!?!?!?! Which one will prevail?

There is a strong possibility that H1 loses this battle and price will go down towards the H4 LTL.

I really want to be here when it breaks...

Tell me your thoughts.
I believe it can go down to the lower TL that I have drawn, but now that I am out I am going to leave it alone. I will have to signoff soon, so I do not want to enter a trade at this time. Show me your chart and your thoughts.
Attached Image (click to enlarge)
Click to Enlarge Name: E.U.png Size: 26 KB
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