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Drawing correct resistance and support-lines

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  • #2,601
  • Oct 2, 2009 12:07pm Oct 2, 2009 12:07pm
Hi ehrek,

Clean and beautiful! Thanks for your details. I can't tell enough, how much your information have helped me!

Keep posting please!

kk
  • #2,602
  • Oct 2, 2009 12:30pm Oct 2, 2009 12:30pm
Nasty slippage, almost 10 pips.. I have been procrastinating switching brokers for the longest time already! (ecn)

Will this break the resistance??

Check out the 4 HR chart..

http://img98.imageshack.us/img98/6352/oct24.gif


http://img202.imageshack.us/img202/48/oct25.gif
lowest draw down possible please.
  • #2,603
  • Oct 2, 2009 12:40pm Oct 2, 2009 12:40pm
For anyone thinking I was a sucker and stayed around in that one waiting for it to break..

No sir ee!

Took my profit..

WOW look at that level of resistance ..

http://img18.imageshack.us/img18/5865/timez.th.jpg



Could have went short.. but im biased long.. so waiting for it to break that level?? Not sure.. I'm kinda sick with a flu/ear infections and the tylenol 3's are giving me Hercules scalps right now.. making me feel super dooper
lowest draw down possible please.
  • #2,604
  • Oct 2, 2009 1:56pm Oct 2, 2009 1:56pm
i'ii follow this thread also
"The person who knows that enough is enough, will always have enough". .
  • #2,605
  • Oct 2, 2009 2:29pm Oct 2, 2009 2:29pm
Quoting aediaz1
Eur/jpy comb and eur/usd wedge;
Good evening, please where can I download the main move indicator showing on your chart.
Thank
woleadu
  • #2,606
  • Oct 2, 2009 3:07pm Oct 2, 2009 3:07pm
Hey everyone!
A trade i took today. It's a simple SR-trade, I went short at resistance. Got a little scared at the blue zone which worked quite nicely as support and resistance in the past. I let the trade run an my target gets hit. In chart 4 you can see that it also had trendline-resistance, which made it an even more valid trade... still continues south at the moment.

Greetings Flo
Attached Image(s) (click to enlarge)
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  • #2,607
  • Oct 2, 2009 3:36pm Oct 2, 2009 3:36pm
The current pattern in the line charts for EUR/USD is a bearish formation.

The price has already started to break thru the diagonal (S/R) trend lines....

If the down measured move develops well, I am short until it gets to around 1.4200, and then I will time and entry of a long position for the retracement back up to about 1.45.....

PAPION
Attached Image(s) (click to enlarge)
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An ocean of boundlesness......
  • #2,608
  • Oct 4, 2009 4:51am Oct 4, 2009 4:51am
keep an on eu could go down to the second uptrend line in the coming days.. The dark cloud cover confirmed the correction testing the upper trendline
Attached Image (click to enlarge)
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  • #2,609
  • Oct 4, 2009 5:11am Oct 4, 2009 5:11am
Uj seems to be heading to its support 87.11 after a confirmation of the morning star and failure to break the lower trendline
Attached Image (click to enlarge)
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  • #2,610
  • Oct 5, 2009 12:20pm Oct 5, 2009 12:20pm
Here another trade I've taken... it's also based on SR-Lines and it played out nicely. We also had a trendline break which made me enter long again.
Looking forward to hear from you all!
-Flo
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  • #2,611
  • Oct 5, 2009 1:22pm Oct 5, 2009 1:22pm
Quoting aediaz1
Eur/jpy comb and eur/usd wedge;
is this thread getting resurrected?
  • #2,612
  • Oct 9, 2009 2:54am Oct 9, 2009 2:54am
EU & GU on M15 respectively
Attached Image(s) (click to enlarge)
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May the pips be with me !!!
  • #2,613
  • Oct 9, 2009 12:20pm Oct 9, 2009 12:20pm
Earned 30 pip.

After the price was unable to break 1.6005 S/R and returned to the downward channel, it seemed to me that it would not break the channel again. Is it a high prob trade?
Attached Image (click to enlarge)
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  • #2,614
  • Jan 19, 2010 10:30pm Jan 19, 2010 10:30pm
Quoting Rocroy
I'm often using trendlines, which give you an alarm, when price comes close to the line. The distance when the alarm triggers is 2-3 pips (if I remember right, the distance can adjusted?).

In any case, these tls are like indicators, and you just insert them into indicators folder of your mt4. These are useful if you for instance do not want to set SL, you can set an alarming tl instead.

R

Attachment

Attachment
T You for the indicators.
May be, you can help, I am looking for S. R. lines w. continuing lines on the chart, ?
regards
Conrod
  • #2,615
  • Jul 25, 2010 10:45am Jul 25, 2010 10:45am
Hi

I am a newbie and would like to have your help on which is the correct TL should I draw as shown in the chart? The one pointed by red arrow? or blue arrow?

Thanks
tpat
Attached Image (click to enlarge)
Click to Enlarge Name: gu tl.gif Size: 42 KB
  • #2,616
  • Oct 14, 2010 5:48am Oct 14, 2010 5:48am
Perfect "combs" on usdcad with nice breakouts. First one looks best on higher TF;
Attached Image(s) (click to enlarge)
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Measure twice, cut once
  • #2,617
  • Oct 14, 2010 6:25am Oct 14, 2010 6:25am
Triangle with flat surface along with changed MM to down on the break. SL above daily high. P.e.r.f.e.c.t.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 15m wedge.gif Size: 23 KB
Measure twice, cut once
  • #2,618
  • Oct 15, 2010 10:56am Oct 15, 2010 10:56am
I wonder what happened to the contributors in this important thread. It's being a long time since anyone posted here.
  • #2,619
  • Oct 15, 2010 11:24am Oct 15, 2010 11:24am
i am just confused.how can i define that the trend line is throughout ??? i mean ,many times the price is broke the trend line ,then it get back later . anyone can give me some suggestions thank you very much .
A chart helps those who can read it.
  • #2,620
  • Oct 15, 2010 11:42am Oct 15, 2010 11:42am
You could change the trendline angle, I'm a newb but have read that 30-45 degrees are most common/reliable trend angles, and to add new lines if price accelerates or decelerates. That's if I have understood your question!
"The probable is what usually happens." Aristotle
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