HEAVY Support/Resistance System

Hello fellow interested traders. I am back again to share a chart for AUD monetary policy play.
After I close most of my EU short ( about 4 lots ) open at 1.3890 on 1.3840-50 @ today market open, I start to make other major pairs play.

AUD USD Heavy resistance



A little zoom in to M15 entry chart




Entry with this price, S/L at 50 pips away , TP at least 50 pips too.

Another call on NZD short... seems like I quite obsessed with shorting Commodities pair.

H1 View



M15 Zoom in



Same thing.. 50 pips play for SL/TP





I bear no responsibility if this trade fail. You got to put your Stop loss to limit your loss, all trades posted here are just for reference and education.

Took Profit for AUD, re-added many position 1 hour ago at 10-20 spot, just TP at 93 and also took EUR/AUD long also tp on it.

Happy pipping. Closed some nzd and some still open with little unrealized loss.

Update:

NZD also fully close in small profit.

GBP love for positioning on GBP big news release later.

GU & GJ

NZD/USD long before the NZD cpi release.



With NZD/USD at the well support heavy low, and if this low break, it will change trend of nzd, but I don't think so. because nzd seem very well supported and good to long for now to get a smooth 30-50 pips profit.

I already in at 34-38 zone. Its not late to join nzd love

2 things that will affect nzd other than Ukraine tensions.



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M15 zoom in for NZD/USD




If you look at the forecast, and the prior, NZD is forecast at 0.5% from prior 0.1%, the prospect is positive and market is looking for good inflation data from NZD.



However China GDP is revised lower to 7.4% from prior 7.7% and China might not even able hit the 7.4%, the risk is quite high. However if China able to substain a 7.4% to 7.5%, commodities pair will benefit greatly.

Given a choice with sufficient rewards from nzd, I will exit my nzd trades in profit before china gdp q/y

However if the move is very limited, I will hold for china data.

If you look at my previous few charts that I post e.g AUD/USD yesterday before AUD monetary minutes which I recommend a short at 0.9410 zone, and you close now or earlier on, you will already bag 50 pips or so. I think its quite important to look at both technical and fundamental.

To add on, if you think about the Ukraine tension that is on-going, Euro is not a good place to park money, so do USD dovish stance. The only left options are Commodities pair and yen. With yen unpredictable, I will go for commodities.

Advice: Always set SL to expect the unexpected. My words are just my views, everyone have their own position & method to trade the market.
My words here are just for reference and sharing.


Anyone are welcome to post their heavy support/resistance feedback/charts to share with the rest

Sell GBPUSD

Today bad move

I set a buy limit to buy USD/CAD at 1.09571, the price went to 1.09586 and rebounce..

The reason for my call there was heavy support was at 1.09561 previously and I was depicting that the price will be attracted to previous support and bounce..
next time need give 3 pips allowance +3 / -3

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Look out for a good long at 1.3794 approx for EUR/USD . Touch trend line & Heavy Support. But I went in already at this current price with stop around 1.3770 spot. Either it break the trend line and head to 1.37 zone or it continue its uptrend.

I manage to increase my 3 accounts equity by like 20% this week. Although my nzd call for fundamental reason was fail last night, but manage scalp a lot of trades with trend line & heavy support/resistance and still up my realized equity (after minus all the losses).

A new way to look at chart



Trend line and Heavy Support/Resistance is the same thing.


GU recent out break




EUR GBP Signal ( Just combine top 1 and top 2 ) will give you top 3 (Today movement)

Attached Image (click to enlarge)

​Sometime have you wonder if trend line is just coincidence or its work. I would pair it up with a heavy support/resistance zone for entry with stop loss at next heavy support/resistance within 30-50 pips range.


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I am thinking AUD will go down, pair it up with my 34,89 EMA and the trend line, with the heavy resistance.

The questions are when ? and will it work, how much I need risk and when I need take profit.

It could/might touch the higher trend line near 0.9400 and then retrace.




I am also taking a long call for EUR/USD as of now.


Anyway my forecast might not be accurate, just like yesterday my nzd forecast was fail due to CPI only hit 0.3% instead of expected 0.5% lead to NZD fall 50 pips. Always trade with SL & caution. I am still learning to get a better view of chart and price.

my sell order TP 1 30 pips .8590, first support area

Yesterday I post this..




Look at how well the trend line play



Of course you pair it up with previous heavy resistance at that zone, its make a perfect entry with little tight SL to get a good rewards.


There 2 trend line, inner and outer 1. which I mention

"It could/might touch the higher trend line near 0.9400 and then retrace."

Trying improve entry by using Trend Line, Heavy Support/Resistance and some EMA

About the same I guess

USD/CHF at low of uptrend line.
In line with previous HEAVY SUPPORT

Went in a small play.

Today won some trades , GBP/AUD Short , AUD/USD long, USD/CAD short and some others.. scalp here n there

Invalid Trade, Break out of lower trend.

Manage to close this trade in 10 pips profit.

Hello,

You use any fixed rrr? Or only check moving average and place sl tp same? I think system is good, but you must have good oportunity, because many time price go and hit stoploss.

Thank you for your reply.

When market open...

I would long gbp usd as 1st priority

Second i will long eur usd.


Its a good long from here. Happy easter day

anyone on this ??

Support comes in at 102.36 zone

If UJ Break below 102.30, I might do a short .



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Euro break the daily pivot, and went higher, will the pivot hold as a firm support for more uptrend.




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A look at the H1 chart tells us that EURO got some HEAVY support at 1.3806 zone. and a test of the trend line will test near 1.39




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Another interesting things to share is USD/CHF short chart



The uptrend was broken and it went to test the previous resistance at trend line.

I did a short here and target to TP around the triangle price.



You might question why I use trend line and break out , 1 2 3 pattern to do my Heavy / Support Resistance Thread.
The answer is simple, they are inter-related and provide firmer entry / exit.

Basically price often touch a heavy support / resistance and then decide the next movement. Should Support or Resistance Hold the price in trend, the price will move from the support to the resistance.

But sometime when the price break the trend, the heavy support / resistance will draw price towards it and most people place stop loss and entry there. While wipeout the losers, and bring in new volume, the price will move faster towards the trend. Just like the USD chf chart which I depict it will fall after touch the resistance.

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Many people would short GBP/USD or EUR/USD at the current level, thinking they are "too high" or so. However yesterday I mention I will long them on market open, I went in with 0.9 volume on G/U and now is up near 20 pips as I went in this early asia market price around 7x to low 8x

I also went in EUR/USD long and USD/CHF short, I don't think price got high or low, but we need monitor the trend and watch for break out.

When trend break, if you read on 1,2,3 pattern it will actually not go down at 1 go, price will move as normal then fall on touch the opposite resistance/support and continue its new trend.

Stop Loss is important for Forex Survival too.

Another Chart I would like to share is this.

EUR/GBP LONG



I fancy a long here . with support holding and a break out of the down trend. I anticipate E/G will rise over time.

The movement of 1,2,3 pattern is this way.


Step 1

Break out of trend

Step 2

Went back to test support (if break out of down trend) <- EUR/GBP current position
Went back to test resistance (if break out of up trend) <- Not applicable as this is a break out of down trend.

Step 3

Continue going down (if down trend)
Continue going up (if uptrend)



In regards to step 2, normally it would test a heavy support or resistance. Not just a small 1.


Take note:

My technical analysis might WENT wrong if Fundamental news affect it, so always trade with STOP LOSS.

I not trading this but its seems nice to share. <- No Broker to trade it ..
As I not sure how per pip calculate with gold so its hard for me to actually plant a trade with broker.

GOLD Chart




Reversal might be seen soon once XAU/USD (GOLD) break 1295 area, the down trend line, else it might go lower.



If you got questions or charts to share, feel free to reply to this thread !

Earlier on closed gu . Usd chf and eur usd for some scalping profit.

Opportunity resurface. Reopen position at current price.