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Drawing support and resistance lines 4 replies

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Drawing correct resistance and support-lines

Sep 13, 2016
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Quoting jupiter_peak
I might have a long signal... Trend is up
yea, i have this too, im out of short position with few pips loss, now just watching.
Quoting sDRs
yea, i have this too, im out of short position with few pips loss, now just watching.

Going for R1 target...
12 pip gain...

not much, but it's something.
Quoting sDRs
Seems that cable failed to break this high support level. Hmm., back up?
The probability for upside is in favor,IMO, so yes. Notice the confluence between TL (4h) and daily support;
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Measure twice, cut once
Quoting juang
just wait for break UTL and LTL,i think my S&R is valid .how about you guys

edit=false break out




"Together More Better Than Alone "
usd/chf along with e/u love to do fake peaks. I have this lines on 4h;
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Measure twice, cut once
Quoting aediaz1
usd/chf along with e/u love to do fake peaks. I have this lines on 4h;
Hey Aediaz,

Any clues why the candles on my chart look so different than yours?

Which broker do you use? I may think that I am not getting the same info. as you are...

strange...

Have a look
Attached Image (click to enlarge)
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Aediaz1,do you have filter for false breakout for TF h1 or false breakout is part of the game in forex.thanks
Quoting juang
Aediaz1,do you have filter for false breakout for TF h1 or false breakout is part of the game in forex.thanks
I was through the same, with EU. last week and asked the same...
Quoting jupiter_peak
Hey Aediaz,

Any clues why the candles on my chart look so different than yours?

Which broker do you use? I may think that I am not getting the same info. as you are...

strange...

Have a look
I you refer to my last post about usd/chf you have simply looked at wrong chart. I use alpari btw so some candle can be slightly different.
Measure twice, cut once
Quoting aediaz1
I you refer to my last post about usd/chf you have simply looked at wrong chart. I use alpari btw so some candle can be slightly different.

My bad.

But still, some different candles...

later...
Quoting juang
Aediaz1,do you have filter for false breakout for TF h1 or false breakout is part of the game in forex.thanks
You will suffer from more fake breakouts on lower TF compared with higher, thats my experience. The reason I have played 1h and even lower is because of my confidence with different price patterns. This confidence didn't occur within weeks. Only practice, practice and experience will give it.

No good answer from me but a hint that combining i.e 4h and daily chart searching for pattern is a good start. If your used to trade on lower TF simply reduce your units seize and try trade on larger TF.

When you have traded some different price patterns over at least 6-12 months you will start notice that each pattern normally give 2 options with close to identical happenings. I'm not sure if I talk too misleading but hope you got a clue. History repeats itself, same does price patterns.
Measure twice, cut once
Quoting aediaz1
You will suffer from more fake breakouts on lower TF compared with higher, thats my experience. The reason I have played 1h and even lower is because of my confidence with different price patterns. This confidence didn't occur within weeks. Only practice, practice and experience will give it.

No good answer from me but a hint that combining i.e 4h and daily chart searching for pattern is a good start. If your used to trade on lower TF simply reduce your units seize and try trade on larger TF.

When you have traded some different price patterns over at least 6-12 months you will start notice that each pattern normally give 2 options with close to identical happenings. I'm not sure if I talk too misleading but hope you got a clue. History repeats itself, same does price patterns.





Thanks for your answer Aediaz1,i will more practise .thanks again
jus wait to break S & R ,the S & R with colour aqua is target for breakout get from TL H4.i prefer buy than sell coz candle h4 make tail from bottom to the top
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Quoting juang
jus wait to break S & R ,the S & R with colour aqua is target for breakout get from TL H4.i prefer buy than sell coz candle h4 make tail from bottom to the top

I have seen several fake break outs. Like Aediaz said, always have a look at higher TFs just like you are doing.

Allow me to say that I look into other TFs and all but actually trade from the 4H TF. I believe it has sufficient gathered (consolidated) DATA in it, and therefore in each candle, in order to satisfy my needs for a valid break.

My strategy is the following:

1) Draw most recent valid demand(support) and supply (resistance) lines. Bill Williams fractals is a goos indicator for the right candles where S/R should be drawn. So I pick the most recent ones.

2) Looking at the 4h TF make a price projection for the break either for demand (support) or supply (resistance).

3) A valid break is whenever a 4H candle opens outside the TDs (either support or resistance).

4) Set your TP at the projected price target counting from the opening of the "break" candle or some other resistance or support lines (pivots, fibos, etc.) that might be in between the break and the price target.


I prefer to have channels with both demand and supply lines. Like this, I can be ready for breaks either way and make price projections either way.

Attched follows one example of what I am saying.

I hope this makes sense to you guys.

Best,

Jupiter.
Attached Image (click to enlarge)
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Quoting jupiter_peak
I have seen several fake break outs. Like Aediaz said, always have a look at higher TFs just like you are doing.

Allow me to say that I look into other TFs and all but actually trade from the 4H TF. I believe it has sufficient gathered (consolidated) DATA in it, and therefore in each candle, in order to satisfy my needs for a valid break.

My strategy is the following:

1) Draw most recent valid demand(support) and supply (resistance) lines. Bill Williams fractals is a goos indicator for the right candles where S/R should be drawn. So I pick the most recent ones.

2) Looking at the 4h TF make a price projection for the break either for demand (support) or resistance (support).

3) A valid break is whenever a 4H candle opens outside the TDs (either support or resistance).

4) Set your TP at the projected price target counting from the opening of the "break" candle or some other resistance or support lines (pivots, fibos, etc.) that might be in between the break and the price target.


I prefer to have channels with both demand and supply lines. Like this, I can be ready for breaks either way and make price projections either way.

Attched follows one example of what I am saying.

I hope this makes sense to you guys.

Best,

Jupiter.


Thanks jupiter,i will more see with TF h4,thanks
below my chart for G/j H4 ,Lower TL break then candle open out site on Lower TL so we can open sell.so if iam trade for TF H1 ,i must open sell rather than buy with wait for break my lower TL in H1,this is mean corellate with bigger TF.
Attached Image
my pciture H1 with break my lower TL,this is the meaning correlate bigger TF with LOwer TF,h4=h1.thanks Aediaz and another Trader,Thanks Again


edit=Break Even After 26 pips
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Quoting juang
my pciture H1 with break my lower TL,this is the meaning correlate bigger TF with LOwer TF,h4=h1.thanks Aediaz and another Trader,Thanks Again

Be aware of currently support we are fighting at right now;
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Measure twice, cut once
Quoting juang
my pciture H1 with break my lower TL,this is the meaning correlate bigger TF with LOwer TF,h4=h1.thanks Aediaz and another Trader,Thanks Again
Juang, Did you sell the G/J? I got up late and missed the initial move of the U/J, but I am selling now. I believe it will go down to the 104.000 level.
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Strong TL on daily UJ;
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Measure twice, cut once
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