Drawing correct resistance and support-lines | Page 117 | 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.
  • #2,321
  • Jul 22, 2008 1:18pm Jul 22, 2008 1:18pm
Hey guys,
Long time I haven't posted anything to this forum, I have been busy with other things in my life. I have seen Master Aediaz left for his well deserved vacation and if you don't mind I will try to post some fresh charts here. I have an awful lot to catch up with (2000 posts OMG) but I will try my best.

Here are my thoughts for Asian / (maybe) London session tomorrow.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-22-07-08--1815.jpg Size: 237 KB
  • #2,322
  • Jul 22, 2008 1:49pm Jul 22, 2008 1:49pm
Quoting MarkGavalda
Hey guys,
Long time I haven't posted anything to this forum, I have been busy with other things in my life. I have seen Master Aediaz left for his well deserved vacation and if you don't mind I will try to post some fresh charts here. I have an awful lot to catch up with (2000 posts OMG) but I will try my best.

Here are my thoughts for Asian / (maybe) London session tomorrow.
Aren't you the guy who sells the Trend Stuffer System?
  • #2,323
  • Jul 22, 2008 2:55pm Jul 22, 2008 2:55pm
Quoting forexmoments
Aren't you the guy who sells the Trend Stuffer System?
Yes, that's also me.
  • #2,324
  • Jul 22, 2008 5:13pm Jul 22, 2008 5:13pm
Is back, I got some chart art for you guys later. BBL Dinner. Not a bad drop for EU today. I see a flag forming. Possible reversal? we'll see.
"Diversification is an excuse for a lack of talent" ~FXC
  • #2,325
  • Jul 22, 2008 11:23pm Jul 22, 2008 11:23pm
EUR/USD

I see a few things happening

1) Price completely reverses back on us off of support from the fibonacci level 1.5757 from June 13's low and resistance fails when an hourly candle closes above 1.5473

2) It can retrace and off of 1.5829 and drop further to 1.5687-1.5643

3) Or it can completely collapse from the rising wedge that's forming and violate yesterday's intraday low of 1.5758 in turn breaking through the support at 1.5757 from the fib level of June 13's low and completely open up the area down towards 1.5670 with a possible long range short target at 1.5457

my thoughts.



cheers
Attached Image (click to enlarge)
Click to Enlarge Name: 72208EU.jpg Size: 388 KB
"Diversification is an excuse for a lack of talent" ~FXC
  • #2,326
  • Jul 23, 2008 1:43am Jul 23, 2008 1:43am
Well I have an idea for this situation: I went long until: 1) the price does not break below 1.5757 (low of yesterday, 38.2% from 13 June to 15 July) 2) does not hit yesterday's high-low 38.2% 1.5829.
It's a contratrend trade, but I think it does worth a shot.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-23-07-08--0640.jpg Size: 109 KB
  • #2,327
  • Jul 23, 2008 1:57am Jul 23, 2008 1:57am
Quoting FXCapitalist
I see a few things happening
Nice wedge, I saw it also but was too lazy to get up in time. I hope you got some pips. Thanks
  • #2,328
  • Jul 23, 2008 12:22pm Jul 23, 2008 12:22pm
This is indeed a tunnel to the South. Mixed feelings: some analysis says it can't go down more, and others (mainly higher timeframes) tell me that it's just a beginning. We'll see, price action will tell us. The most useful tip I can give now is to trade lower timeframes and short intraday moves those are a bit more reliable right now.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-23-07-08--1720.jpg Size: 119 KB
  • #2,329
  • Jul 24, 2008 5:16am Jul 24, 2008 5:16am
Hi everyone, I hope you're all good. Just came back from holiday, hope you all had three nice weeks ! At least I had and I will not bore you with any details

Just a quick check-in, I'll try to share some analyze with you guys later on
Measure twice, cut once
  • #2,330
  • Jul 24, 2008 5:27am Jul 24, 2008 5:27am
Quoting aediaz1
Hi everyone, I hope you're all good. Just came back from holiday, hope you all had three nice weeks ! At least I had and I will not bore you with any details

Just a quick check-in, I'll try to share some analyze with you guys later on
Welcome back bro
Trade what you see, not what you think.
  • #2,331
  • Jul 24, 2008 7:36am Jul 24, 2008 7:36am
Quoting aediaz1
Hi everyone, I hope you're all good. Just came back from holiday, hope you all had three nice weeks ! At least I had and I will not bore you with any details

Just a quick check-in, I'll try to share some analyze with you guys later on
Worraittt!!! i miss your brilliant comment dude...
  • #2,332
  • Jul 24, 2008 8:42am Jul 24, 2008 8:42am
Quoting aediaz1
Hi everyone, I hope you're all good. Just came back from holiday, hope you all had three nice weeks ! At least I had and I will not bore you with any details

Just a quick check-in, I'll try to share some analyze with you guys later on

Welcome back !!
  • #2,333
  • Jul 24, 2008 3:48pm Jul 24, 2008 3:48pm
Welcome back...

Glad ur Back.

  • #2,334
  • Jul 25, 2008 3:15am Jul 25, 2008 3:15am
Welcome back aediaz1!
  • #2,335
  • Jul 25, 2008 3:25am Jul 25, 2008 3:25am
Quoting karmostaji
Welcome back bro
Thank you everyone

I've added MA to my charts now with the values 21, 65 and 261 simple moving average whereas 21 is number of dealing-days in a months, 65 is a 3-months period and 261 is the number of dealing-year in the forex market. I use them as potential s/r, thats what I'll share for now

Ok, lets have a look on daily eur/usd chart.

Price is caught between a range, so in other words there is no trend right now. As we know, price stay more time in range than trending, unfortunately for us.

1.5650 have turned out to back up the price for now, along with the 3-months SMA, and if we can get a close above yesterdays (closing)quote, I would favour more bulls, upward to 1.6 area with some luck. Also if we look on weekly chart, we see flag-pattern.

Aud/usd;

Those two TL you see on daily chart is drawn from closing price. Simply because it made more sense. Price seem to be supported around .9550 (also 3-months MA).
If this level dosen't attract any buyers, I would second more upside for now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 104 KB
Click to Enlarge Name: audusd.jpg Size: 120 KB
Measure twice, cut once
  • #2,336
  • Jul 25, 2008 8:22am Jul 25, 2008 8:22am
Hey guys,


I have been trading a whole lot of GJ end EJ. These pair have been moving and last week was a pip frenzy for them!! This week as well. Yesterday and today making shorts and longs... But specially LONGS!!

Now, below I present price channeling up both on H1 and Daily.

I have refrained from making too many trades on pairs like EU and Cable.

Wish u all the best.

JP.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp_jpy_h1_25_07_2008_asc_channel.gif Size: 19 KB
Click to Enlarge Name: gbp_jpy_d1_25_07_2008_asc_channel.gif Size: 18 KB
  • #2,337
  • Jul 25, 2008 8:31am Jul 25, 2008 8:31am
Quoting aediaz1
Thank you everyone

I've added MA to my charts now with the values 21, 65 and 261 simple moving average whereas 21 is number of dealing-days in a months, 65 is a 3-months period and 261 is the number of dealing-year in the forex market. I use them as potential s/r, thats what I'll share for now

Ok, lets have a look on daily eur/usd chart.

Price is caught between a range, so in other words there is no trend right now. As we know, price stay more time in range than trending, unfortunately for us.

1.5650 have turned out to back up the price for now, along with the 3-months SMA, and if we can get a close above yesterdays (closing)quote, I would favour more bulls, upward to 1.6 area with some luck. Also if we look on weekly chart, we see flag-pattern.

Aud/usd;

Those two TL you see on daily chart is drawn from closing price. Simply because it made more sense. Price seem to be supported around .9550 (also 3-months MA).
If this level dosen't attract any buyers, I would second more upside for now.
Hey Aediaz,

Maybe this weekly chart will add something to uour aussie charts.

Price is about to hit an LTL of an Asc. channel from what I see. Maybe a bounce up?

It looks like a very clear asc. channel to me.

What do u think.

Best,

JP.
Attached Image (click to enlarge)
Click to Enlarge Name: aud_usd_wk_25_07_2008_asc_channel.gif Size: 18 KB
  • #2,338
  • Jul 25, 2008 10:09am Jul 25, 2008 10:09am
Hello.

Today ive taken a long position on the touch of the LTL of this ascending 1hr/4hr channel. SL was 10 pips below this swings low. Price started rising nicely and went up ~200 pips. We had news comming, so that made me to bail out quick and so my trade was gone with a little profit. Lesson learned. Plan your trade and trade your plan :-)

Cheers!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf_h1_ltltouchbuy_250708.gif Size: 23 KB
  • #2,339
  • Jul 25, 2008 10:15am Jul 25, 2008 10:15am
I see UJ channeling up but it has hit resistance @107.83 (in RED).
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_h4_25_07_2008_asc_channel.gif Size: 21 KB
  • #2,340
  • Jul 25, 2008 11:28am Jul 25, 2008 11:28am
thanks for your wonderful post.on what time frames do you use the trendlines to the best of your ability and what currency?will be glad to hear from you...happy pips taking.
0 traders viewing now