Hi,
This is my first post on this thread. I have been looking at the Jacko material with interest and I have attempted to apply some trend lines to today's euro chart. However, I am a little unsure of where the best place is to position the trend lines. As seen on the chart, I have support & resistance lines in orange that go back a little further in time but only have two touches (does only two touches make them invalid?). I also have drawn support & resistance lines in purple, that do not go back in time quite so far however, one has five touches and the other has three. Please can anybody with experience of the Jacko method advise me on this issue?
Regards, Kean
This is my first post on this thread. I have been looking at the Jacko material with interest and I have attempted to apply some trend lines to today's euro chart. However, I am a little unsure of where the best place is to position the trend lines. As seen on the chart, I have support & resistance lines in orange that go back a little further in time but only have two touches (does only two touches make them invalid?). I also have drawn support & resistance lines in purple, that do not go back in time quite so far however, one has five touches and the other has three. Please can anybody with experience of the Jacko method advise me on this issue?
Regards, Kean