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HEAVY Support/Resistance System

  • #261
  • May 2, 2014 7:01am May 2, 2014 7:01am
Quoting asaljay
Chaosbun good call on the EURUSD I jumped in at 1.3865 and stayed with it till the NFP for 50 pips you sure do have a great eye for the trend lines, support and resistance, I am hoping to learn from you and I thank you for being so generous to show what you do in your post and like to wish you all the very best
Thanks for the compliment. I look forward more people joining the thread to post chart of heavy support/resistance paired up with trendline

More poster = more opportunity reveal

Have a nice weekend.
Learn to Trade is Important. Keep your bias & ego aside.
  • #262
  • May 2, 2014 7:09am May 2, 2014 7:09am
Quoting chaosbun
Ignore my message of not open AUD/USD. My hand is itchy as the heavy support is very nice down there. I just open at 3 accounts of mine and earn the swaps over weekend. Should be able grind some profit next week with this. {image}
position close in small profit. not keeping for weekend news.
Learn to Trade is Important. Keep your bias & ego aside.
  • #263
  • May 2, 2014 7:14am May 2, 2014 7:14am
Quoting chaosbun
{quote} Thanks for the compliment. I look forward more people joining the thread to post chart of heavy support/resistance paired up with trendline More poster = more opportunity reveal Have a nice weekend.

Question...as you can see AUDUSD broke the support "officially" but jump right back...so that is a plus..

Do you care that support was broken and it may go lower to the next support at 9163?

Could of been brokers hunting stops, but still broken...
  • #264
  • May 2, 2014 7:38am May 2, 2014 7:38am
Quoting driven18
{quote} Question...as you can see AUDUSD broke the support "officially" but jump right back...so that is a plus.. Do you care that support was broken and it may go lower to the next support at 9163? Could of been brokers hunting stops, but still broken...

The support was firm at 0.9200, even if breakout, it can provide another move up then down again. Just like what you see now. 30 pips from the chart.
Learn to Trade is Important. Keep your bias & ego aside.
  • #265
  • May 2, 2014 7:50am May 2, 2014 7:50am
Added usd/cad long, usd/jpy long, eur/usd short


USD/CAD and USD/JPY is base on heavy support.
EUR/USD short is base on trendline.


I WANT to have a peaceful weekend. seems hard !
Learn to Trade is Important. Keep your bias & ego aside.
  • #266
  • May 2, 2014 7:54am May 2, 2014 7:54am
Quoting chaosbun
Added usd/cad long, usd/jpy long, eur/usd short USD/CAD and USD/JPY is base on heavy support. EUR/USD short is base on trendline. I WANT to have a peaceful weekend. seems hard !
Okay all close again. totally 0 positions now, close in around 10 pips profit each haha.
Learn to Trade is Important. Keep your bias & ego aside.
  • #267
  • May 2, 2014 7:57am May 2, 2014 7:57am
Look at the reversals lol..

I had aud/usd short open, eurjpy long , usdjpy long before nfp.. but i prefer not take risk and close all for small pips.
  • #268
  • May 2, 2014 7:58am May 2, 2014 7:58am
Quoting Kuat
Look at the reversals lol.. I had aud/usd short open, eurjpy long , usdjpy long before nfp.. but i prefer not take risk and close all for small pips.
I had aud usd long open at 0.9220 which is a few post earlier but because its friday so I close, you can trace the thread lol. I knew it will go up, just that I am content with my week performance.

Now i got 0 positions, just open that 3 positions and close in minutes lol. quite happy with the profit.

Adding position at key support/resistance (HEAVY not small s/r), and trend line will really increase your win edge dramatically.
Learn to take profit and not be over greedy. Once you used to it should be fine.
Learn to Trade is Important. Keep your bias & ego aside.
  • #269
  • May 2, 2014 8:15am May 2, 2014 8:15am
Conclude my weekly performance:

This week I made over 100% Return of investment, it was a week of roller coaster.

I made some mistake, such as open position base on my own speculation without trendline & heavy support/resistance, but this trade luckily was close today in small profit.

There was also period of time where E/U going near 1.39 but I did not falter although I did have some fear and did more planning.

I believe in my trendline & support/resistance system, I been adding positions up there when the price is near break out.

I also did some withdrawal at different period of time on my accounts to reduce my equity, in case my account blown up due to unexpected fundamental reasons, my damage will not be too intensive.

This week I open more than 150 positions, and lose 0 position.

Some was close for few pips profit, some was close for more than 40 pips profit. The range is quite limited, but the earning is awesome as the price keep bounce around in a small range.

Trend line is pretty reliable, and I did some money management too.


I hope you guys win some money and see you guys again next week.



Its tough to be a dollar bull !
Learn to Trade is Important. Keep your bias & ego aside.
  • #270
  • May 2, 2014 8:32am May 2, 2014 8:32am
Added USD/CHF Long - H1 Trendline play.

Attached Image (click to enlarge)
Click to Enlarge Name: usdchf-h4-forex-capital-markets.png Size: 119 KB


H4 Trendline is just 12 pips below.
Learn to Trade is Important. Keep your bias & ego aside.
  • #271
  • May 2, 2014 8:41am May 2, 2014 8:41am
USD Yield facing heavy support

Attached Image


And how is this related to any pair ? Yes it is related to USD/JPY long

I open a UJ long - small position.

I intend open 1 more at trend line 102.06 approx.
Learn to Trade is Important. Keep your bias & ego aside.
  • #272
  • May 2, 2014 9:09am May 2, 2014 9:09am
This thread does not promote market speculation or market maker theory.

We look on Trend Line & Heavy Support / Resistance. We don't have to know why market move,
we just need to know when it about to move, we join them.

Keep it simple stupid This technical skill using trend line & identify price action using Heavy S/R should be easy to adapt.
Hope some of you guys have a better profitable weeks after look carefully at chart.
Learn to Trade is Important. Keep your bias & ego aside.
  • #273
  • May 3, 2014 4:35am May 3, 2014 4:35am
Hi Chaosbun
just like to ask if you do not mind, my Broker is AxiTrader in Australia and I notice that it does not match up to your charts
so can I ask who is your broker so that I can look up to see if they have Demo accounts ,
also it seems that you look at longer time frames and than work down to 60 min, to open trades is that correct
regards Allan
  • #274
  • May 3, 2014 7:34am May 3, 2014 7:34am
Quoting asaljay
Hi Chaosbun just like to ask if you do not mind, my Broker is AxiTrader in Australia and I notice that it does not match up to your charts so can I ask who is your broker so that I can look up to see if they have Demo accounts , also it seems that you look at longer time frames and than work down to 60 min, to open trades is that correct regards Allan
My broker is FxPro. I normally have a glance and remember roughly the key entry price & the trend line at, for major pair like EU,GU,UJ,AU,NU etc.

If there is a big movement, i will check h1 first, if h1 trend is broke, I will check if h4 got a trend, then d1.

I also look for heavy support / resistance, the term heavy is because at high timeframe, previous support/resistance that result in large pips on the next candle are mostly some zone that buyer & seller hiding at.

You will get to know more about this kind of trading scalping strategy that I am using after posting chart often here and we can pin point each other entry and make the best out of it.

The range is very tight for the past 2 weeks, but it make me very good money. at least 200% roi for just 2 weeks. I open over 300 positions and 0 was close in loss.

20%-30% was close in profit less than 10 pips.

The rest was close somewhere higher. 10 - 50 pips


I been trading for 3 years 3 months, my consistent earning start 3 months ago, and this heavy support/resistance system initially rely on just Support & Resistance, but after refine and adding trend line, the entry got more precise and beautiful. Result in very good money.

----

This system is very easy to use, all you need do is draw trend line and and draw s/r line at heavy support/resistance, read some fundamental news and do your entry, its work very well for me, and able to adapt to tight & wide trending / ranging market situation.

Some system only work for certain market condition, such as those system that hold positions for hundred of pips will not work for such tight market situation and lose potential profit.

Just see last week chart, euro got hit down, went up, hit down again, went up. Repeatly. and other pairs too, just grinding on those movement and all those little and small pips crumble together will form you big fat money.

Joining trend is important, at least 1 thing is you won't lose money, as most trader lose money for going against the trend.

Second thing is you can actually make a lot of profit if you on the right trend.
Learn to Trade is Important. Keep your bias & ego aside.
  • #275
  • May 3, 2014 11:19am May 3, 2014 11:19am
Inserted Video
Learn to Trade is Important. Keep your bias & ego aside.
  • #276
  • May 3, 2014 7:43pm May 3, 2014 7:43pm
Hi chaosbun thank you for that insightful reply ( great video too ) will spend my Sunday looking at charts
  • #277
  • May 4, 2014 12:07am May 4, 2014 12:07am
Hi Chaosbun,

nice to see somebody from singapore here too !!, hope i can learn trading forex with you cheers !!
  • #278
  • May 4, 2014 3:31am May 4, 2014 3:31am
Hi Chaosbun,
I support your way of trading and tread wholeheartedly , and read every post to learn from everybody. I had a look at your USDCHF trade (post 270) and after putting TrendLines on it looked as if price is moving in a channel, so i made the 4H chart a LineChart and added the "Equidistance Channel" indicator to it and as you can see from my Screenshot, everything just fell in place, for the down trend as well as the present trend. Thans for all your effert.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfh4.png Size: 51 KB
  • #279
  • May 4, 2014 5:57am May 4, 2014 5:57am
Quoting FibFork
Hi Chaosbun, I support your way of trading and tread wholeheartedly , and read every post to learn from everybody. I had a look at your USDCHF trade (post 270) and after putting TrendLines on it looked as if price is moving in a channel, so i made the 4H chart a LineChart and added the "Equidistance Channel" indicator to it and as you can see from my Screenshot, everything just fell in place, for the down trend as well as the present trend. Thans for all your effert. {image}
Hi FibFork, thanks for this chart.

Yeah I do agree that now is a good time to add a USD/CHF long as its fall at the good price of a trend.
I draw manually H1 and H4 line for USD/CHF on friday, the price is around your line too

Look forwards for more trend and support/resistance player to join this thread


Weekend news:

France pm say euro is too strong.
> http://uk.reuters.com/article/2014/0...0DJ0H420140503

Ukraine says heavy fighting in Kramatorsk, war descends in its east
> http://www.reuters.com/article/2014/...0NP08T20140503
Learn to Trade is Important. Keep your bias & ego aside.
  • #280
  • May 4, 2014 1:25pm May 4, 2014 1:25pm
Quoting FibFork
Hi Chaosbun, I support your way of trading and tread wholeheartedly , and read every post to learn from everybody. I had a look at your USDCHF trade (post 270) and after putting TrendLines on it looked as if price is moving in a channel, so i made the 4H chart a LineChart and added the "Equidistance Channel" indicator to it and as you can see from my Screenshot, everything just fell in place, for the down trend as well as the present trend. Thans for all your effert. {image}

hi, where can I get "Equidistance Channel" indicator?
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