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Drawing correct resistance and support-lines

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  • #1,961
  • Jun 4, 2008 5:48am Jun 4, 2008 5:48am
Quoting daniel2
Hi all

Mini triangle on USDCHF H1/M30/M15
Measure twice, cut once
  • #1,962
  • Jun 4, 2008 5:48am Jun 4, 2008 5:48am
Quoting jupiter_peak
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.
Very good charts !
Measure twice, cut once
  • #1,963
  • Jun 4, 2008 9:07am Jun 4, 2008 9:07am
Quoting aediaz1
Very good charts !

Hey Aediaz,

You can't imagine how much you and this thread have done for me.

Later I will be posting my very first (old) charts when I started dummy trading. You will be able to see the difference.

Once again, thanx.

Not sure what's up with E/U. Strong support below.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_h4_04_06_2008.gif Size: 32 KB
  • #1,964
  • Jun 4, 2008 10:49am Jun 4, 2008 10:49am
Hi Jupiter,

just found a quote for you, hope it will be of usefulness

Never let the future disturb you. You will meet it, if you have to, with the same weapons of reason which today arm you against the present.

Marcus Aurelius Antoninus, Meditations, 200 A.D.

cu

Quoting jupiter_peak
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.
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,965
  • Jun 4, 2008 11:08am Jun 4, 2008 11:08am
Quoting jupiter_peak
Hey Aediaz,

You can't imagine how much you and this thread have done for me.

Later I will be posting my very first (old) charts when I started dummy trading. You will be able to see the difference.

Once again, thanx.

Not sure what's up with E/U. Strong support below.
Glad on your behalf, jupiter_peak ! It's been fun to see how fast some participants develop through their posting charts since this thread started 4 months ago. Some have given up, like with anything in this world.

It takes seconds to notice when some of you guys are in "rhythm" with the market according to your drawings. Don't ask me "is my drawing in rhythm?" because the answer will pop itself when you are. Only practice will make you there.

I don't want to sound like a pro with 20 years of trading-experience, because I'm far from it. I still consider myself in the earlier stages of trading, but when I have done this for 7-10 years I would (might) consider myself as pro

Remember; we are still tiny fishes in the greatest ocean there is. Swim carefully !
Measure twice, cut once
  • #1,966
  • Jun 4, 2008 12:02pm Jun 4, 2008 12:02pm
Nice Evening from Europe to All!

since i am a newbie i have to try other things, now i found this post and from now on i will draw my trendlines as this post suggests and i will see whats happening:

Quoting robertsonakp
to draw correct ressitance and support lines
1.line charts should firstly be used
2.higher time frames such as 1hr,4hr and daily are best because lines drawn frm these time frames can be permanent and they have found to reoccur most. however, if the market is sideways at a particular time, lower time frames can be used for such situation.
3. for resistance areas chek for similar tops(conect them wit a line) and corelate those areas using 2 or more time frames and for supports chek for similar botoms , conect them with a line and also corelate using 2 or more time frames.
4.finally, ensure the accuracy of those lines by swiching to candlestik chart and looking if u hav these candlestiks there , hammer, inverted hammer, shooting star, any doji, gaps,bullish engulfing, bearish engulfing. always draw the lines at the open of the candlestik.
With this on my mind as i watched the charts, the outcome is as follows:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY20080604b.png Size: 17 KB
Click to Enlarge Name: USDJPY20080604b.png Size: 16 KB
Click to Enlarge Name: NZDUSD20080604d.png Size: 15 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,967
  • Jun 4, 2008 12:09pm Jun 4, 2008 12:09pm
Does anyone see a H&S here or is it just my imagination?

Going down???
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_h4_04_06_2008_h&s.gif Size: 29 KB
  • #1,968
  • Jun 4, 2008 12:14pm Jun 4, 2008 12:14pm
Hey Silver,

This is what I see for UJ.
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_h4_04_06_2008_break.gif Size: 20 KB
  • #1,969
  • Jun 4, 2008 12:26pm Jun 4, 2008 12:26pm
Hey Jupiter,

well ... one could say that there is something like a H&S, but its too small i think, if you go to 5m and zoom out, it has to be clear, but there is nothing.

Quoting jupiter_peak
Does anyone see a H&S here or is it just my imagination?

Going down???
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,970
  • Jun 4, 2008 12:31pm Jun 4, 2008 12:31pm
But on M30 is something
...
Edit: i think its just sideways
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot.png Size: 17 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,971
  • Jun 4, 2008 12:32pm Jun 4, 2008 12:32pm
Hi all
EURGBP SELL on close candle under low TL?
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp_2008_06_04.jpg Size: 108 KB
  • #1,972
  • Edited 1:19pm Jun 4, 2008 12:58pm | Edited 1:19pm
Hi Guys,

I don't want to show off, but today was a really good day.

I just closed this position that was open for the last few days or so.

213 pip gain!!!

Hey Aediaz, thanks so much for the help once again!!!
Attached Image (click to enlarge)
Click to Enlarge Name: usd_cad_h4_04_06_2008_rally_up_channel.gif Size: 22 KB
  • #1,973
  • Edited 1:30pm Jun 4, 2008 1:19pm | Edited 1:30pm
Hi All,

News ahead for kiwi! and a nice long channel on the daily, at the moment he is below the upper channel line and there is much space down, also it tested the upper channel line a few times, and if it breaks this one ... we'll see

btw. nice one, Jupiter


Quoting jupiter_peak
Hi Guys,

I don't want to show off, but today was a really good day.

I just closed this position that was open for the last few days or so.

213 pip gain!!!

Hey Aediaz, thanks so much for the help once again!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDUSD20080604f.png Size: 17 KB
Click to Enlarge Name: NZDUSD20080604e.png Size: 17 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,974
  • Jun 4, 2008 1:48pm Jun 4, 2008 1:48pm
Quoting silverheat
Hi All,

News ahead for kiwi! and a nice long channel on the daily, at the moment he is below the upper channel line and there is much space down, also it tested the upper channel line a few times, and if it breaks this one ... we'll see

btw. nice one, Jupiter
Hey Silverheat,

This is what I have for this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd_usd_m15_04_06_2008_side_chan.gif Size: 17 KB
  • #1,975
  • Jun 4, 2008 1:58pm Jun 4, 2008 1:58pm
Quoting jupiter_peak
Hey Silverheat,

This is what I have for this pair.
I am watching as we wait for the news.
Attached Image (click to enlarge)
Click to Enlarge Name: N.U.png Size: 23 KB
  • #1,976
  • Jun 4, 2008 2:15pm Jun 4, 2008 2:15pm
I decided to not jump in. I hope you captured all of these PIPs.
  • #1,977
  • Jun 4, 2008 2:21pm Jun 4, 2008 2:21pm
What the hell...
  • #1,978
  • Jun 4, 2008 2:32pm Jun 4, 2008 2:32pm
Quoting nuriksari
What the hell...
I hope you did well.
  • #1,979
  • Jun 4, 2008 2:35pm Jun 4, 2008 2:35pm
i really really like forex

Quoting nuriksari
What the hell...
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD20080604g.png Size: 15 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #1,980
  • Jun 4, 2008 7:02pm Jun 4, 2008 7:02pm
Nice pip round on this one...

What a week!
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_h1_04_06_2008_break.gif Size: 21 KB
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