Drawing correct resistance and support-lines | Page 97 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Drawing Correct Trendlines 58 replies

Drawing Gann Grid in mt4, the correct way 3 replies

Drawing correct S/R and pivot 8 replies

Drawing Objects vs Drawing lines 1 reply

Drawing support and resistance lines 4 replies

Attachments: Drawing correct resistance and support-lines
Exit Attachments

Drawing correct resistance and support-lines

  • Linked: Trend Trading | Brokerage Account XXXX22
  • Expand
  • Last Sync: Sep 13, 2016
Sep 13, 2016
Last Sync: Sep 13, 2016
Sep 13, 2016
Last Sync: Sep 13, 2016
Sep 13, 2016
Last Sync: Sep 13, 2016
Sep 13, 2016
Last Sync: Sep 13, 2016
to
No trading activity in this period.
  • #1,921
  • Jun 2, 2008 4:08pm Jun 2, 2008 4:08pm
definitely sell on weekly, or?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD20080602c.png Size: 11 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,922
  • Jun 2, 2008 7:12pm Jun 2, 2008 7:12pm
Quoting silverheat
Hi Jupiter,

nice to see u 2, hope you sued the phonecompany for the mistaken chance to earn 400 pips today

yes, the swissy looks good, there is another sell opportunity coming up on H1, and maybe it touches the monthly Support, which was also Resistance & Support as you can see on the daily chart, so there it could either form a double bottom and take off or falling down.

@Yen, the yen seems very strong right now, look at E/J its down like 110 pips since daily open!
Classic Head & Shoulders! Going down!!

Are u thinking a retrace to Fib 50%? Around neckline?



Around 1.0380? At
Attached Image (click to enlarge)
Click to Enlarge Name: usd_chf_h4_02_06_2008_h&s.gif Size: 24 KB
  • #1,923
  • Jun 2, 2008 7:32pm Jun 2, 2008 7:32pm
Going up?

What do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_h1_02_06_2008_double_b.gif Size: 20 KB
  • #1,924
  • Jun 2, 2008 7:52pm Jun 2, 2008 7:52pm
Quoting silverheat
definitely sell on weekly, or?
I see a double bottom on daily and H4 and possible trend resumption after the break.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_h4_02_06_2008_trend_res.gif Size: 18 KB
  • #1,925
  • Jun 2, 2008 7:53pm Jun 2, 2008 7:53pm
Quoting jupiter_peak
Going up?

What do you guys think?
Hi Jupiter,
I believe the U/J has more room to move down. Time will tell.
Attached Image (click to enlarge)
Click to Enlarge Name: U.J.png Size: 29 KB
  • #1,926
  • Jun 2, 2008 7:58pm Jun 2, 2008 7:58pm
Quoting Dcb
Hi Jupiter,
I believe the U/J has more room to move down. Time will tell.
Jupiter,
Since I posted my chart, the U/J does look like it wants to move up. I will wait for some price confirmation
  • #1,927
  • Jun 2, 2008 8:42pm Jun 2, 2008 8:42pm
Slowly picking up speed.

Let's see where it takes us...
  • #1,928
  • Jun 3, 2008 1:25am Jun 3, 2008 1:25am
Hi All!

Since i was unsure about the euro yesterday i did a little research, and i found this:

http://www.financialsense.com/editor...2008/0602.html
http://www.financialsense.com/editor...2008/0602.html

so i would sell if it clearly breaks these two lines, and i wouldnt trust no uptrend for now.

Sorry Jupiter for not awnsering on swissy, but i just woke up, here its 8am now. But i would've said that i dont know for sure anyway
But you were right, it did retrace on 50.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD20080603.png Size: 14 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,929
  • Edited 2:03am Jun 3, 2008 1:28am | Edited 2:03am
Hi all :-)

I am waiting for close candle under low TL on H1 chart. If close, then on USDJPY -> SELL and PT is approximately 103.94 and SL 104.35 -->> OK, I am SELL now

Is my consideration OK?
--
And I am now too:
SELL at 1.0363 on USDCHF, PT: 1.0296, SL: 1.0394
SELL at 1.6084 on EURCHF, PT: 1.6040, SL: 1.6127
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy_h4_pt.gif Size: 22 KB
Click to Enlarge Name: usdjpy.gif Size: 20 KB
Click to Enlarge Name: usdchf.gif Size: 17 KB
  • #1,930
  • Jun 3, 2008 1:41am Jun 3, 2008 1:41am
Hi Dcb,
Hi Jupiter,

The Yen looks overall strong, so i think in the asian session there was a retrace, but now on the london open they will move him down, and if they do, the new york open will put even more weight on it

here's what i think U/J will be heading:
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY20080603.png Size: 11 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,931
  • Jun 3, 2008 2:06am Jun 3, 2008 2:06am
Our strategy paid of perfect 50% retracements.

Jupiter.
  • #1,932
  • Jun 3, 2008 2:50am Jun 3, 2008 2:50am
Hi guys, some nice and easy-looking charts, keep it up.

Healthy signs for bulls on e/u.
Attached Image (click to enlarge)
Click to Enlarge Name: eu4.jpg Size: 107 KB
Measure twice, cut once
  • #1,933
  • Jun 3, 2008 3:24am Jun 3, 2008 3:24am
Hi All,

yen seems like he doesnt want to get stronger
so i will wait till H4 close.

E/J H1 is through, but none of the 4. Qualifiers for a valid TL break from the PDF on Page 1 is met.

U/J H1 has work to do if its gonna break the UTL

So this could be just a little 'thinking'
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY20080603b.png Size: 17 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,934
  • Jun 3, 2008 4:01am Jun 3, 2008 4:01am
Quoting aediaz1
Hi guys, some nice and easy-looking charts, keep it up.

Healthy signs for bulls on e/u.
Yes, I bought the E/U when it when above resistance at 1.5571. Although I believe it may get to 1.5663 I closed my position at 1.56129 for a 26 PIP gain.

I sold the USD/CHF and thought it would go to 1.0272, but I did not close my position until it hit the mark and started moving up. I closed my positon at 1.02887 for a 33 PIP gain.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: E.U.png Size: 22 KB
Click to Enlarge Name: U.C.png Size: 28 KB
  • #1,935
  • Jun 3, 2008 4:14am Jun 3, 2008 4:14am
I am wait for H4 close on USDCHF
My trade today on USDCHF is:
SELL at 1.0363, close trade: 1.0302

SELL USDJPY at 104.04, TP: 103.10, SL: 104.39
BUY EURUSD at 1.5582, TP: 1.5719, SL: 1.5543



Quoting Dcb
Yes, I bought the E/U when it when above resistance at 1.5571. Although I believe it may get to 1.5663 I closed my position at 1.56129 for a 26 PIP gain.

I sold the USD/CHF and thought it would go to 1.0272, but I did not close my position until it hit the mark and started moving up. I closed my positon at 1.02887 for a 33 PIP gain.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf_2.gif Size: 21 KB
Click to Enlarge Name: usdjpy_h1.gif Size: 20 KB
  • #1,936
  • Jun 3, 2008 4:24am Jun 3, 2008 4:24am
Quoting Dcb
Yes, I bought the E/U when it when above resistance at 1.5571. Although I believe it may get to 1.5663 I closed my position at 1.56129 for a 26 PIP gain.

I sold the USD/CHF and thought it would go to 1.0272, but I did not close my position until it hit the mark and started moving up. I closed my positon at 1.02887 for a 33 PIP gain.
Very good trades Dcb. Let's see whats next on u/c. If price breaks below currently area, a continuation of this down-move is favorable.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.jpg Size: 118 KB
Measure twice, cut once
  • #1,937
  • Jun 3, 2008 4:50am Jun 3, 2008 4:50am
Quoting daniel2
I am wait for H4 close on USDCHF
My trade today on USDCHF is:
SELL at 1.0363, close trade: 1.0302

SELL USDJPY at 104.04, TP: 103.10, SL: 104.39
BUY EURUSD at 1.5582, TP: 1.5719, SL: 1.5543
Hi Daniel2,
I am hesitant to sell the U/J at this time. Good luck with your other trades.
Attached Image (click to enlarge)
Click to Enlarge Name: U.J.png Size: 30 KB
  • #1,938
  • Jun 3, 2008 4:58am Jun 3, 2008 4:58am
Hi Dcb,
on USDJPY was activated my SL...

And I am now close EURUSD with +11 pips.

Thank You Dcb
Regards


Quoting Dcb
Hi Daniel2,
I am hesitant to sell the U/J at this time. Good luck with your other trades.
  • #1,939
  • Jun 3, 2008 6:12am Jun 3, 2008 6:12am
Hi to All,

N/U could form a double top here, if not then i would trade it as a breakout above .9718
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD20080603.png Size: 11 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,940
  • Jun 3, 2008 6:19am Jun 3, 2008 6:19am
thank all , i like this topic !!!!!!!!
0 traders viewing now