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Drawing correct resistance and support-lines

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  • #2,621
  • Oct 15, 2010 9:00pm Oct 15, 2010 9:00pm
Quoting aediaz1
Triangle with flat surface along with changed MM to down on the break. SL above daily high. P.e.r.f.e.c.t.
Nice. That's all I can say.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #2,622
  • Oct 16, 2010 4:20am Oct 16, 2010 4:20am
Quoting geniusztc
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 .
Pullbacks happen. Personally I never trade pullbacks anymore, I like breakouts better. Also I'm more fan of patterns and horizontal lines than angled TL.
Measure twice, cut once
  • #2,623
  • Oct 16, 2010 4:47am Oct 16, 2010 4:47am
I was always wandering what is the right way to draw lines, where is candlestick closed or on a candlestick's spike?

But i guess there is no right answer, because price sometime bounces from spike, sometimes from closed price.
I think horizontal S/R are much stronger then any other lines.
  • #2,624
  • Oct 16, 2010 5:47am Oct 16, 2010 5:47am
Quoting aediaz1
Pullbacks happen. Personally I never trade pullbacks anymore, I like breakouts better. Also I'm more fan of patterns and horizontal lines than angled TL.

yes ,i know .but i mean : how can you verify a breakout???
A chart helps those who can read it.
  • #2,625
  • Oct 16, 2010 6:04am Oct 16, 2010 6:04am
Quoting geniusztc
yes ,i know .but i mean : how can you verify a breakout???
A TL is broken when price heads on the other side of the boarder even with 1 pip. Like Igrok said: "either your pregnant or not. You can't be half or little pregant".
Measure twice, cut once
  • #2,626
  • Oct 16, 2010 6:08am Oct 16, 2010 6:08am
Here is a TL with 3 touches. Quadruple divergence on MACD too so we'll see 0.8400 area very soon.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp 4h tl.gif Size: 27 KB
Measure twice, cut once
  • #2,627
  • Edited 7:44am Oct 16, 2010 6:39am | Edited 7:44am
Quoting aediaz1
Here is a TL with 3 touches. Quadruple divergence on MACD too so we'll see 0.8400 area very soon.
but the close price didnt break the long trend TL.
A chart helps those who can read it.
  • #2,628
  • Oct 16, 2010 7:40am Oct 16, 2010 7:40am
Quoting aediaz1
A TL is broken when price heads on the other side of the boarder even with 1 pip. Like Igrok said: "either your pregnant or not. You can't be half or little pregant".
  • #2,629
  • Oct 19, 2010 4:35am Oct 19, 2010 4:35am
Usd/jpy comb;
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy 4h comb.gif Size: 22 KB
Measure twice, cut once
  • #2,630
  • Oct 22, 2010 2:18pm Oct 22, 2010 2:18pm
hi friends ,

what is the best indicator that drow trendlines & what is the best one for supp/resiss ..??

am not an investor , (hit & run) , so am focussing in supp/resiss linse which is in range of 100 pips above and below the current price.

i used demark trendlines , but i still can not find a clear day trading system.

is it better to use 4h tf or 1h tf ..??
how to use 15tf as a filter>>??
  • #2,631
  • Oct 22, 2010 2:26pm Oct 22, 2010 2:26pm
Quoting khalidhassan
hi friends ,

what is the best indicator that drow trendlines & what is the best one for supp/resiss ..??

am not an investor , (hit & run) , so am focussing in supp/resiss linse which is in range of 100 pips above and below the current price.

i used demark trendlines , but i still can not find a clear day trading system.

is it better to use 4h tf or 1h tf ..??
how to use 15tf as a filter>>??
I will appreciate if someone provide me with a tamplet containing trend lines indicator & Supp/Resiss levels
  • #2,632
  • Oct 22, 2010 2:34pm Oct 22, 2010 2:34pm
Quoting khalidhassan
I will appreciate if someone provide me with a tamplet containing trend lines indicator & Supp/Resiss levels
Here you go this is excelent

http://www.earnforex.com/metatrader-...and-Resistance
Know when to hold em, Know when to fold em!
  • #2,633
  • Oct 22, 2010 3:03pm Oct 22, 2010 3:03pm
Quoting goods
Here you go this is excelent

http://www.earnforex.com/metatrader-...and-Resistance

Thaaaaaaaaaanks , i will check it out ..!!
  • #2,634
  • Oct 22, 2010 3:27pm Oct 22, 2010 3:27pm
Quoting goods
Here you go this is excelent

http://www.earnforex.com/metatrader-...and-Resistance
thanks , but am looking for something better , appreciate your help.
  • #2,635
  • Oct 22, 2010 3:49pm Oct 22, 2010 3:49pm
If your are looking for best support and resistance Indicator its your EYE.



second best is attached
Attached File(s)
File Type: ex4 #KG Support and Resistance.ex4   6 KB | 511 downloads
  • #2,636
  • Nov 1, 2010 2:22pm Nov 1, 2010 2:22pm
This is my favorite type of trendlines. 4 quick and precise touches before a break happens;
Attached Image
Measure twice, cut once
  • #2,637
  • Nov 4, 2010 9:35am Nov 4, 2010 9:35am
Channel;
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp 1h channel.gif Size: 27 KB
Measure twice, cut once
  • #2,638
  • Nov 4, 2010 12:57pm Nov 4, 2010 12:57pm
Another case of perfect TL, this time on usd/chf;
Attached Image (click to enlarge)
Click to Enlarge Name: $USDCHF (10 Min) 11_4_2010 comblike.jpg Size: 53 KB
Measure twice, cut once
  • #2,639
  • Nov 13, 2010 12:11pm Nov 13, 2010 12:11pm
This is an important thread, no doubt. Just found it though. I have read some of the pages from the beginning. It fits my style of trading especially WITHOUT INDICATORS. Thanks to all the Contributors
  • #2,640
  • Nov 13, 2010 12:54pm Nov 13, 2010 12:54pm
aediaz
could you plz give me idicator what i see on your chart it looks me intersting because it gives you overall probability how much pair has room to move up or down thx
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