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Drawing correct resistance and support-lines

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  • #1,941
  • Jun 3, 2008 6:34am Jun 3, 2008 6:34am
Hi all

It is good chance for sell on GBPJPY?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy_h4.gif Size: 27 KB
  • #1,942
  • Jun 3, 2008 6:48am Jun 3, 2008 6:48am
Quoting aediaz1
Hi guys, some nice and easy-looking charts, keep it up.

Healthy signs for bulls on e/u.

Hey Silverheat,

I never usually look into this pair...

Inverted H&S!!! (very rare)

Looks like it's going up for now. I am long and taking profit at the weekly UTL...

Hey, Aediaz, I noticed that you have a MACD setup with two lines??? How do you set it up? I am reding a book which the author says he uses RSI and MACD for most pairs.

Later...
Attached Image (click to enlarge)
Click to Enlarge Name: eur_jpy_d1_03_06_2008_invert_h&s.gif Size: 19 KB
  • #1,943
  • Jun 3, 2008 6:55am Jun 3, 2008 6:55am
Quoting daniel2
Hi all

It is good chance for sell on GBPJPY?
Hey Daniel,

Have a look on daily. I see a strong uptrend...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_jpy_d1_03_06_2008_uptrend.gif Size: 17 KB
  • #1,944
  • Jun 3, 2008 7:05am Jun 3, 2008 7:05am
Thank You jupiter_peak :-)



Quoting jupiter_peak
Hey Daniel,

Have a look on daily. I see a strong uptrend...
  • #1,945
  • Jun 3, 2008 9:33am Jun 3, 2008 9:33am
Hi jupiter_peak

EURCHF SELL, on D1 is trend DOWN... and on H4/H1 is "pullback" to low TL price channel.

Thank You
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.jpg Size: 107 KB
  • #1,946
  • Jun 3, 2008 9:55am Jun 3, 2008 9:55am
Quoting daniel2
Hi jupiter_peak

EURCHF SELL, on D1 is trend DOWN... and on H4/H1 is "pullback" to low TL price channel.

Thank You
This is what I see for EURCHF.

Bounce back up, to a retrace and maybe back down again.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_chf_m15_03_06_2008_uptrend_in_downtrend.gif Size: 18 KB
  • #1,947
  • Jun 3, 2008 10:12am Jun 3, 2008 10:12am
Bounce back from daily LTL(support) and resume the downtrend???
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_h1_03_06_2008_downtrend.gif Size: 23 KB
  • #1,948
  • Jun 3, 2008 10:43am Jun 3, 2008 10:43am
Thank You jupiter_peak for Your explanation and screenshot EURUSD :-)


Quoting jupiter_peak
This is what I see for EURCHF.

Bounce back up, to a retrace and maybe back down again.
  • #1,949
  • Jun 3, 2008 11:37am Jun 3, 2008 11:37am
Quoting silverheat
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.

Looking like a PRO!

Nice analysis and research too.

Good to have pointers from fundamentals. Fundamentals are the ones that really drive the market.

Oh, and by the way, which software do you use for drawing extra-stuff?

Best.
  • #1,950
  • Jun 3, 2008 12:17pm Jun 3, 2008 12:17pm
Quoting jupiter_peak
Bounce back from daily LTL(support) and resume the downtrend???
what is the indicator on your chart with so many triangulars.
what is the function of it, and how to use it.
regards
I need time ,I need money, I need more patience
  • #1,951
  • Jun 3, 2008 12:48pm Jun 3, 2008 12:48pm
Could it be only trendline retest and then go back up??
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.GIF Size: 45 KB
  • #1,952
  • Jun 3, 2008 1:03pm Jun 3, 2008 1:03pm
Quoting ztdep
what is the indicator on your chart with so many triangulars.
what is the function of it, and how to use it.
regards

Hi ztdep,

Welcome to the thread.
It's not an indicator. Well for me, it's one... It shows me a lot!!!

Actually, these are trendlines that tell me where the trend (price) is going and what to expect.

If you read the thread carefully, these are lines.

Oh, and on top, just to give me a hint is the indicator "FRACTALS"

Hope I have answered your question.
  • #1,953
  • Jun 3, 2008 2:31pm Jun 3, 2008 2:31pm
Hi Jupiter

Thank You! but no, im far from being a pro, i've got a lot of work to do. probably at the time i thought about getting short, it would've killed my S/L, but thanks

So lets move on ...

NZD didnt form the double top and went straight ahead towards & through the LTL ... while i was @ work Bernanke!

ps: what do you mean with drawing extra stuff? i only use MT4.

cu

Quoting jupiter_peak
Looking like a PRO!

Nice analysis and research too.

Good to have pointers from fundamentals. Fundamentals are the ones that really drive the market.

Oh, and by the way, which software do you use for drawing extra-stuff?

Best.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDUSD20080603b.png Size: 9 KB
Click to Enlarge Name: USDJPY20080603c.png Size: 9 KB
Click to Enlarge Name: USDCHF20080603.png Size: 10 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,954
  • Jun 3, 2008 3:13pm Jun 3, 2008 3:13pm
Hi to All,

what do u think, will the cable break the 9600 and go down for a move, now as bernanke favors a strong dollar? Or will it move sideways?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD20080603.png Size: 11 KB
Click to Enlarge Name: GBPUSD20080603b.png Size: 10 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,955
  • Jun 3, 2008 4:42pm Jun 3, 2008 4:42pm
Quoting silverheat
Hi to All,

what do u think, will the cable break the 9600 and go down for a move, now as bernanke favors a strong dollar? Or will it move sideways?

Hi Silverheat,

Like I said before... It doesn't really matter. You always have to find the critical points and make a decision.
You are going to go crazy trying to figure the future. If people could, they would all be zillionaires.

By critical points I mean the trend itself and the trendlines surrounding it that serve as "divisions" from where either you buy or sell.

This is what I have for cable.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_usd_d1_3_06_2008_not_break_edit.jpg Size: 282 KB
  • #1,956
  • Jun 4, 2008 12:06am Jun 4, 2008 12:06am
Hi all

Mini triangle on USDCHF H1/M30/M15
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf_triangle.gif Size: 12 KB
  • #1,957
  • Edited 4:02am Jun 4, 2008 3:46am | Edited 4:02am
Good Morning All!

Those of u who got up early, could've catched nice moves in the yen.

Edit: the UTLs on both Yens are wrong, they couldn't have been drawn like that, two hours ago, Sorry!

kiwi broke through yesterday on daily, but a lot of news regarding USD and NZD are coming out today, so be carefull! the timezone on my attachment is GMT.

Hi Jupiter, well i think everybody wants to know the future, especially in trading, am i wrong?
No, you're right, but i just wanted u guys to use your brains on cable
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY20080604.png Size: 16 KB
Click to Enlarge Name: USDJPY20080604.png Size: 15 KB
Click to Enlarge Name: NZDUSD20080604.png Size: 15 KB
Click to Enlarge Name: Screenshot.png Size: 92 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,958
  • Edited 4:35am Jun 4, 2008 4:23am | Edited 4:35am
NZD has formed another triangle,

for Jupiter i have marked the critical points *gg*, but are they of any good? The news could kill the technicals and then comes the retrace, like E/J U/J today.

regards
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD20080604c.png Size: 16 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,959
  • Jun 4, 2008 6:40am Jun 4, 2008 6:40am
Hi all,

is this good chance to breakout? SELL if H4 close under low blue TL?
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy20080604.gif Size: 24 KB
  • #1,960
  • Jun 4, 2008 6:48am Jun 4, 2008 6:48am
Quoting silverheat
Good Morning All!

Those of u who got up early, could've catched nice moves in the yen.

Edit: the UTLs on both Yens are wrong, they couldn't have been drawn like that, two hours ago, Sorry!

kiwi broke through yesterday on daily, but a lot of news regarding USD and NZD are coming out today, so be carefull! the timezone on my attachment is GMT.

Hi Jupiter, well i think everybody wants to know the future, especially in trading, am i wrong?
No, you're right, but i just wanted u guys to use your brains on cable

Hi Silverheat,

Hope you made some nice pips. Just woke up, it's still early here in Brazil and I went out to play soccer(football) last night. Came in really late...

Yeah, I would love to know th future every once in a while. I would just love it. But the hasle and the stress that comes together with trying to predict the future is just not worth it. Believe me.

Anyway, here are my chart for UJ and EJ.

Best.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur_jpy_m15_04_06_2008_not_break.gif Size: 29 KB
Click to Enlarge Name: usd_jpy_m15_04_06_2008.gif Size: 28 KB
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