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Drawing correct resistance and support-lines

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  • #2,101
  • Jun 18, 2008 4:06am Jun 18, 2008 4:06am
possible break on the u/y
PATIENCE... DISCIPLINE
  • #2,102
  • Jun 18, 2008 5:34am Jun 18, 2008 5:34am
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.
I do not see any chang in the pairs. Maybe when the Crude Inventories Report comes out today we may see some movement.
  • #2,103
  • Jun 18, 2008 6:42am Jun 18, 2008 6:42am
I am getting a triangle in USDCAD H4.

Can anyone confirm?
Attached Image (click to enlarge)
Click to Enlarge Name: usd_cad_h4_18_06_2008_triangle.gif Size: 14 KB
  • #2,104
  • Jun 18, 2008 6:45am Jun 18, 2008 6:45am
Quoting jupiter_peak
I am getting a triangle in USDCAD H4.

Can anyone confirm?
Triangle it is.
Measure twice, cut once
  • #2,105
  • Jun 18, 2008 6:53am Jun 18, 2008 6:53am
Quoting aediaz1
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.

Hey Aediaz,

I am getting a weekly UTL/RES from weekly. I would say we are on hold or even going south as of now.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_jpy_d1_18_06_2008_weekly_res.gif Size: 24 KB
  • #2,106
  • Jun 18, 2008 7:11am Jun 18, 2008 7:11am
I am getting an ascending wedge on EU.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd_d1_18_06_2008_asc_wedge.gif Size: 23 KB
  • #2,107
  • Jun 18, 2008 9:07am Jun 18, 2008 9:07am
hi jupiter,i have a larger triangle on my charts,do i have it drawn in wrong??it can be easy to get these lines wrong,

Also what do you guys think of drawing the lines from the top of the shadows or the closing prices,there seems to be a lot of opinion about this.imo its safer to draw them from shadow peak to peak rather than close peak to peak. would like your feedback on this??thanx
Attached Image (click to enlarge)
Click to Enlarge Name: update.gif Size: 65 KB
PATIENCE... DISCIPLINE
  • #2,108
  • Jun 18, 2008 9:43am Jun 18, 2008 9:43am
Quoting g_j_hook@yah
hi jupiter,i have a larger triangle on my charts,do i have it drawn in wrong??it can be easy to get these lines wrong,

Also what do you guys think of drawing the lines from the top of the shadows or the closing prices,there seems to be a lot of opinion about this.imo its safer to draw them from shadow peak to peak rather than close peak to peak. would like your feedback on this??thanx
actually, I like your triangle bettre than mine. It touches 3 points and makes it a more credible line.

THnaks.
  • #2,109
  • Jun 18, 2008 9:50am Jun 18, 2008 9:50am
jupiter thanx for the confidence boost!!

anyone watching u/c??looks like its breakin.(hope so,been short awhile now,currently at BE stop
p.s. was that a h\s??
PATIENCE... DISCIPLINE
  • #2,110
  • Jun 18, 2008 9:56am Jun 18, 2008 9:56am
Quoting g_j_hook@yah
jupiter thanx for the confidence boost!!

anyone watching u/c??looks like its breakin.(hope so,been short awhile now,currently at BE stop
p.s. was that a h\s??
I am currently short. Although, I am not very sure if it's a break or just a bounce inside a smaller triangle.
Attached Image (click to enlarge)
Click to Enlarge Name: usd_chf_d1_18_06_2008_triangle_or_break.gif Size: 20 KB
  • #2,111
  • Jun 18, 2008 10:00am Jun 18, 2008 10:00am
Cable is currently under a break!!!
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_usd_h1_18_06_2008_break.gif Size: 20 KB
  • #2,112
  • Jun 18, 2008 10:10am Jun 18, 2008 10:10am
Quoting jupiter_peak
I am currently short. Although, I am not very sure if it's a break or just a bounce inside a smaller triangle.
jupiter,if you draw that line straight it is the weekly pivot!!
that was my target.im out now for +30
will be long cable also if it breaks the daily pivot.
PATIENCE... DISCIPLINE
  • #2,113
  • Jun 18, 2008 10:11am Jun 18, 2008 10:11am
Today the market doesn't feel right ...

i don't know, up, down, up, down, no clear direction

tried a load of indicators i never heard of, watched TFs i never looked at ... just makes me crazy
Invincibility lies in the defence, the possibility of victory in the attack
  • #2,114
  • Jun 18, 2008 12:45pm Jun 18, 2008 12:45pm
Quoting jupiter_peak
Hey Aediaz,

I am getting a weekly UTL/RES from weekly. I would say we are on hold or even going south as of now.
Hi, price turns away from resistance on daily chart;
Attached Image (click to enlarge)
Click to Enlarge Name: uj1.gif Size: 13 KB
Measure twice, cut once
  • #2,115
  • Jun 18, 2008 1:22pm Jun 18, 2008 1:22pm
First signs of uptrend on this pair have been noticed;
Attached Image (click to enlarge)
Click to Enlarge Name: ndlr.gif Size: 12 KB
Measure twice, cut once
  • #2,116
  • Jun 18, 2008 1:25pm Jun 18, 2008 1:25pm
jupiter are you still in the u/c short??lookin good again now eh!!?got back in(demos only though me,still learning)on the break of the monthly pivot.
PATIENCE... DISCIPLINE
  • #2,117
  • Jun 18, 2008 2:37pm Jun 18, 2008 2:37pm
VIEWERS DISCRETION IS ADVISED!

me proudly presents: my first live trade ... EVER

USD/CAD short on 18th of June 2008, 00:42 GMT

evidently a premature birth , though promising looking so far , na i can take a loss, whatever it will be, i'm pleased

now in the green pips +11

TRADERS, STAAART YOOOUR ENGINNNNNNE

juuust kidding, fx is a business ... yeah, business, right, probabilities'n'shit

and no i'm not under 21, but i'm sure not older than 30
Attached Image (click to enlarge)
Click to Enlarge Name: 20080618-USDCAD-a.png Size: 10 KB
Invincibility lies in the defence, the possibility of victory in the attack
  • #2,118
  • Jun 18, 2008 2:46pm Jun 18, 2008 2:46pm
Quoting silverheat
VIEWERS DISCRETION IS ADVISED!

me proudly presents: my first live trade ... EVER

USD/CAD short on 18th of June 2008, 00:42 GMT

evidently a premature birth , though promising looking so far , na i can take a loss, whatever it will be, i'm pleased

and no i'm not under 21, but i'm sure not older than 30
Congrats ! Just make sure you're feelings don't ruin your plan ! Here is what price struggles with right now;

And btw, this hour(s) is really bad for trading, normally.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 110 KB
Measure twice, cut once
  • #2,119
  • Jun 18, 2008 2:56pm Jun 18, 2008 2:56pm
Quoting silverheat
VIEWERS DISCRETION IS ADVISED!

me proudly presents: my first live trade ... EVER

USD/CAD short on 18th of June 2008, 00:42 GMT

evidently a premature birth , though promising looking so far , na i can take a loss, whatever it will be, i'm pleased

now in the green pips +11

TRADERS, STAAART YOOOUR ENGINNNNNNE

juuust kidding, fx is a business ... yeah, business, right, probabilities'n'shit

and no i'm not under 21, but i'm sure not older than 30
lol ,well done mate!! must have sweated a bit hangin in there!!
PATIENCE... DISCIPLINE
  • #2,120
  • Edited 3:41pm Jun 18, 2008 3:16pm | Edited 3:41pm
I have a break on USDCHF.

It finally broke from that upper part of the range that it was since JUNE 12!!

Attached Image (click to enlarge)
Click to Enlarge Name: usd_chf_h1_18_06_2008_break.gif Size: 23 KB
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