Trading Live With Simplicity!!!

Hi Guy's,
I Have received lot of PM's that how i place selective but very correct Support & Resistance line's. My Method of drawing S/R Lines is very simple. You can do it easily as well. But i am following some rules to draw my S/R Line's. I dont use any indicator to draw them and dont draw line's on all opportunities. Here are the rules which are followed by Me!

Method With Rules!!!

OKy Here we go!
I Use Just two Support & Resistance Line's. But question is how i draw them by hand???
Price Action-----Do You Know This Thing?--------???
lol I just keep an eye on Price action on blank chart means with no indicator to see what kind of candles formation made by this price action.
Oky

V U V-Curve M W

Above mentioned word's are not any code or any passward but its a secret to draw correct S/R Line's.
YES !!!
I Try to figur out these sort of candles formation to draw my S/R Line's. You may find V & V-Curve shape candles formation most of time's. Hope you understand all what i wana convey.For more see my posted screenshot's one by one. You will find candle's formation excatly matched with these word's & i also have placed my S/R line's on it.

TimeFrames!!!

4-Hour timeframe is best for Jpy related pair's. But I Also love to trade on daily Tf & daily Tf is the most suitable Tf to place line's for non volatile pair's but if i find any great opportunity then i also trade on 4-Hour's timeframe. Well this is my journal. Though i am posting my live trade's with pending order's here but it didnt means at all that i am posting signal's. (SO TRADE AT YOUR OWN RISK) I am just keeping track record of my trade's with an aim also that maybe some one can gain from this. That's why i have posted here my method with more detail. Hope this ALL may help!
Pip!!!

This Is the daily chart of Gbd/Chf. I am looking forward to go long & Short respectively
Long onthe break of 1.7478
Short onthe break of 1.6454
-----------------------------
Target +50 to +70 Pip's on Each
Pip!

true simplicity is the easy way to get pips..good luck my friend

Yes Thank's
Pip!

Hi Guy's yesterday i post here my live Gbd/Chf trade here that im looking forward for following opportunities to enter in Gbd/Chf trade If!

I,ll Go Short if Support Line Breaks 1.6454
I,ll Go Long if Resistance Line Breaks 1.7478

AnyWays Today Support line breaks 1.6454 & Gbd/Chf dropps for +85 Pip's so far and My Target of +70 Pip's successfully achieved today and it was a very good winning trade
I Have Posted the both screenshot's (Screenshot before & After the break)
Pip!

So Far I Have posted here my two live trade's This week

1) Short On Gbd/Jpy @ 137.64 Close With +70 Pip's

2) Short On Gbd/Chf @ 1.6454 Close With +70 Pip's

I,ll Keep Posting My Live Gbd/Jpy & Gbd/Chf Trade's

Pip!

Well right know i am keeping an eye onthe break of following's in Gbd/Jpy to go short & Long respectively!

--Long Onthe break of 141.75
--Long Onthe break of 140.58
--Short Onthe break of 135.52
Target +50 To +70 Pip's

Pip!

Very interesting thread and simple system - thanks for sharing.

Please can you share with us how far back you look for your support and resistance points?

Thank's
Well i just focus onthe candle's on my chart to place my S/R Line's. I dont go much far back. Maybe you find it different from other trader's who trade with these line's but this give me good enough result's
Pip!

Hello Guy's
I Have Posted here My another live trade That i,ll go Long if Resistance Line(140.58) (for More see My Post No #7)
Break's & i,ll target for +70 Pip's now see the pic's it break's and move up for +90 Pip's so far & i have successfuly locked +70 Pip's. It was another good trade. I have posted both the screenshot's(Before the break & after the break).
Pip!

Well this was a good week for me so far as i have posted My three successive live trade's here. (For More detail see all screenshot's Posted above)

So Far I Have posted here three two live trade's This week

1) Short On Gbd/Jpy @ 137.64 Close With +70 Pip's

2) Short On Gbd/Chf @ 1.6454 Close With +70 Pip's

3) Long On Gbd/Jpy @ 140.58 Close With +70 Pip's

ToTal-----------------------------------------------
+210 Pip's
----------------------------------------------------

Pip!

How often the price bounces back from those support/resistance levels?
Maybe it's safer to take position after the break of support/resistance. In the last posted trade we saw, that the price flooded back below resistance level.
Are You trading without stop losses?
Yes, this is very simple breakout system. I prefer simple systems.

Yes You are right. Price break's My resistance level 140.58 & retrace's back for -98 Pip's. Reason was only this that there already was a much bullish move by Gbd/Jpy but i was still optimist about a successful trade because i consider this level(140.58) a strong resistance level also i am trading with stoploss but with no MM Rule as My target profit is +70 Pip's on every Gbd/Jpy & Gbd/Chf related trades but My stoploss is -120 Pip's. Well i have also discussed about My stoploss in this thread. Visit to know why my SL is -120 Pip's.
http://www.forexfactory.com/showthre...18#post2538018
Anyway's Gbd/Jpy After moving against my position for -98 Pip's again retraces back and Move Up for +90 Pip's from 140.58 & I have closed My position for +70 Pip's.
Pip!

Looking a good Long apportunity in Euro/Usd @ 1.2540
I am looking forward for this trade let's see
Pip!

I am long on Euro/Usd @ 1.2540
as i said in my last post before going long that it seems a good long opportunity let's see!
Pip!

Hi Guy's seems a good trading day for me as i have Posted my another live trade here in my journal but this time it's Euro/Usd as i said in my last post that i am going Long on Euro/Usd @ 1.2540
So far Euro/Usd Moved up for almost +40 Pip's but i have closed my long position at +35 Pip's. I Have Posted My Both screenshots of my this live Euro/Usd trade here as before and after going long .(For more see Post No#14 & 15 Of this thread)
Pip!

I don't understand that last trade with eur/usd. Why 1.2540?
If one looks to chart then the support is in 1.2456 or 1.2481. Resistance is in 1.2663. Trade at that resistance triggered today and was up to 1.2725 (FxPro time 11.25). So 63 pips.
gbpchf daily is nearing right now to it's support at 1.6369.

gbp/jpy 4H chart resistance at 141.484, support at 138.000. Right now nearing that support.

Hello Valdjas
I was bit busy today and didnt trade today just came & saw your Post. Anyways in My last posted live Euro/Usd trade in which i went long at 1.2540 was not because of the break of any Support & resistance line, infact My this Euro/Usd trade was based on fibonacci level's now see the posted screenshot again as Euro/Usd already shown much bearish movement and i draw my Fib's level on my chart. i was sure that Euro/Usd will retraces back from any of the level (38.2 or 23.6)
& it did what i was expecting. There was a bullish candle at 23.6 fib's level i didnt went long inthis one infact i was waiting for this candle to close with a good Pull's back and was waiting to go long inthe start of next candle at 1.2540 so it did the same what i was expecting. It was a good scalpe trade. Infact Euro/Usd so far move's Up for +204 Pip's which was a big move but i close at just +35 Pip's
Pip!

Yhough i didnt trade today but missed a good trade today. Yes 138.00 was a good support level and Gbd/Jpy breaks it and drops for +77 Pips before retracing back, see the screenshot
Pip!