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Drawing correct resistance and support-lines

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  • #2,081
  • Jun 15, 2008 10:30pm Jun 15, 2008 10:30pm
Still no pics for today?? Hi guys.. It's been a while not posting here.. looks this thread keep growing!!!
  • #2,082
  • Jun 16, 2008 5:24am Jun 16, 2008 5:24am
I am expecting the E/U to go down, and the USD/CHF and U/J to go up.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: E.U.png Size: 22 KB
Click to Enlarge Name: U.C.png Size: 39 KB
Click to Enlarge Name: U.J.png Size: 22 KB
  • #2,083
  • Jun 16, 2008 5:48am Jun 16, 2008 5:48am
Well, it looks like the USD is back to weakness. It looks like the E/U does not want to stay down, and the USD/CHF is showing USD weakness.
Attached Image (click to enlarge)
Click to Enlarge Name: E.U.png Size: 22 KB
Attached Image
  • #2,084
  • Jun 16, 2008 6:01am Jun 16, 2008 6:01am
Hi all,

i hope u had a nice weekend.

U/J just hit the big resistance from mid february a few hours ago.

NZD/USD looks bullish, with a doji on friday and a possible morning star pattern forming today

A/U hit the ground on SMA65

everything on daily of course
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY20080616.png Size: 11 KB
Click to Enlarge Name: NZDUSD20080616.png Size: 18 KB
Click to Enlarge Name: AUDUSD20080616.png Size: 21 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #2,085
  • Jun 16, 2008 7:05pm Jun 16, 2008 7:05pm
Quoting Dcb
Well, it looks like the USD is back to weakness. It looks like the E/U does not want to stay down, and the USD/CHF is showing USD weakness.
Hi Dcb.

Regarding e/u, daily support hold again. 4h chart have given us the first signal for possible bull comeback. TL taken out along with previous lower high. So I'm looking for price to head above .5518.

Quick chart;
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 18 KB
Measure twice, cut once
  • #2,086
  • Jun 16, 2008 7:15pm Jun 16, 2008 7:15pm
Quoting silverheat
Hi all,

i hope u had a nice weekend.

U/J just hit the big resistance from mid february a few hours ago.

NZD/USD looks bullish, with a doji on friday and a possible morning star pattern forming today

A/U hit the ground on SMA65

everything on daily of course
Always enjoy a good weekend

Resistance confirmed, indeed.

On nzd/usd, price have rejected lower TL on daily chart. But be careful taking long position against so strong downtrend. Smart move would be to see how price reacts to previous lower high on 4h chart;
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nd4h.gif Size: 11 KB
Click to Enlarge Name: nu.jpg Size: 84 KB
Measure twice, cut once
  • #2,087
  • Jun 16, 2008 7:48pm Jun 16, 2008 7:48pm
Quoting southernmind
...
Had almost the same lines you had, just my upper line was horizontal.
Measure twice, cut once
  • #2,088
  • Jun 16, 2008 9:49pm Jun 16, 2008 9:49pm
I am getting possible resistance @ 1.5560.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_h4_16_06_2008_res.gif Size: 22 KB
  • #2,089
  • Jun 17, 2008 2:10am Jun 17, 2008 2:10am
Quoting jupiter_peak
I am getting possible resistance @ 1.5560.
Confirmed. I would consider longs when this level is taken out. Intraday possible support (from 1h chart) @ .5460.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
Measure twice, cut once
  • #2,090
  • Jun 17, 2008 2:17am Jun 17, 2008 2:17am
I'm looking at this possible bullish flag on 1h chart, G/J. Seems like we're heading for some positive news from U.K, although I couldn't care less before price is heading above flag, @ 212.82;
Attached Image (click to enlarge)
Click to Enlarge Name: gjflag.jpg Size: 116 KB
Measure twice, cut once
  • #2,091
  • Jun 17, 2008 7:59am Jun 17, 2008 7:59am
I am watching and waiting for the E/U and USD/CHF to breakout of the range they are in.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: E.U.png Size: 23 KB
Click to Enlarge Name: U.C.png Size: 33 KB
  • #2,092
  • Jun 17, 2008 8:27am Jun 17, 2008 8:27am
I sold the USD/CHF when it was near the resistance level, and bought the EUR/USD.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: E.U.png Size: 26 KB
Click to Enlarge Name: U.C.png Size: 27 KB
  • #2,093
  • Jun 17, 2008 9:17am Jun 17, 2008 9:17am
I exited my positions
  • #2,094
  • Jun 17, 2008 1:24pm Jun 17, 2008 1:24pm
Quoting Dcb
I exited my positions

I don't see any pairs that are tradable as of now. Everything very limited by S/Rs. Even GBPJPY had a possibility today but fell back inside the channel.

Perhaps just cable to and from the support and resistance lines (inside limited range). Nothing too fancy.

As you said, we have to be very patient.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur_usd_h4_17_06_2008_no_trade.gif Size: 21 KB
Click to Enlarge Name: usd_chf_h4_17_06_2008_no_trade.gif Size: 21 KB
Click to Enlarge Name: gbp_usd_h4_17_06_2008_no_trade.gif Size: 23 KB
  • #2,095
  • Jun 17, 2008 2:56pm Jun 17, 2008 2:56pm
Quoting jupiter_peak
I don't see any pairs that are tradable as of now. Everything very limited by S/Rs. Even GBPJPY had a possibility today but fell back inside the channel.

Perhaps just cable to and from the support and resistance lines (inside limited range). Nothing too fancy.

As you said, we have to be very patient.
very nice thread. I think it needs a lot of experiance to spot HH, HL and so on ? , a lot of nice charts. Off topic from a newbie: USD/CHF formed a doji on the daily yesterday, and stochastics are high. Might come down. Have a nice day.
  • #2,096
  • Jun 17, 2008 4:26pm Jun 17, 2008 4:26pm
Hi All,

here is a bearish engulfing on daily with a confirmation candle, and a downward triangle on M30

for me, this goes down
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20080617-USDCAD-a.png Size: 9 KB
Click to Enlarge Name: 20080617-USDCAD-c.png Size: 11 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #2,097
  • Jun 17, 2008 4:29pm Jun 17, 2008 4:29pm
I don't spot any trades right now neiter, Jupiter. I'll post some charts when I come home. As you say, patient is a big part of the game.

Peaches; I think you'll be amazed how "easy" it gets after some practice. Of course, adding a moving average is even easier but I find LL,HH etc a bit more extended. It simply gives me more value about the currently trends health along with trendlines.
Measure twice, cut once
  • #2,098
  • Jun 18, 2008 2:02am Jun 18, 2008 2:02am
Good Morning All!

A/U hit TL on H1
Attached Image (click to enlarge)
Click to Enlarge Name: 20080618-AUDUSD-a.png Size: 17 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #2,099
  • Jun 18, 2008 2:57am Jun 18, 2008 2:57am
hi all,my first contribution.....
both look interesting,
Attached Image(s) (click to enlarge)
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PATIENCE... DISCIPLINE
  • #2,100
  • Jun 18, 2008 3:36am Jun 18, 2008 3:36am
Quoting silverheat
Good Morning All!

A/U hit TL on H1
Good morning. I'm currently long on euro/jpy thats the only option I see for now.

g_j_hook; Nice triangle on U/J you got there. I'm adding it myself.
Measure twice, cut once
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