HEAVY Support/Resistance System

What price you begin your short?

I started my short @ 1.526 due to resistance at 1.531.

Hey Rap no c..p just good comments , thanks for the input

Chaosbun thank you for the reply regards point two would you say that point one would be 0.8591 and point two will be at candle close price.
Allan ( with old eyes )

Prize today never got to 1.526

You are correct I went short from the 01/05/14 due to pullback from 30/04/14.

I think you should not include the current swing or current price to construct the trendline. Use the last two older swings that already have finished to form,
because you current swing is still in the process of forming.

ADDED NZD/USD SHORT

Multi year high is just 50 pips away, while H4 strong resistance is at current price near 8700

Yes that's correct

Thank you guys.. still a bit to go to get my head around things
also silly me thought the nzdusd was going to turn down on the 1Hr so got out with 5 pips long
and left a few pips on the table
am back in short now at 0.8712 thanks for the heads up Chaosbun

Is there a valid sell zone right now on EU at 1.39050? (I guess everything was denied by positive eu news...)

USD is very weak now.

Market don't like the toilet paper. Trend breakout and rebounce should be near, GBP/USD short seems high probability with USD/CHF long

EUR/USD i am unsure, NZD/USD short is also another pair I looking to short.

hello Chaos,

im from malaysia.

i like ur trading method, clean and easy.

i'm a stock trader,exploring to forex.. market downturn kind of boring lol.


my question is:

approx how long for each time you open a position? what is the duration? few hours? few days?

on average please?

I m not familiar with forex so I need some guidance, especially about what time is more suitable to trade in forex? (I searched a little bit and try out some different times...)

Our Time:
Lunch hour: boring...nothing to see

I noticed usually after 4pm it's more active (london open)
and throughout evening till .... is still active?

kindly shed some lights for me....

many thanks...

Also, I had tested on a few positions using ur method...here it goes.

1. tested on EURJPY TF15m (Screenshot5.png - sorry im not sure how to rename the screenshot upload???)
position: Short
size: 1.00
EP: 142.00
TP: 141.73
SL: 142.14

It was a 27pips won position.

>> I wasn't sure bout what TP to go for so I set it at the immediate Resistance area (highlighted with Oval).
>> The Blue-colored rectangular are the extreme Support/Resistance area right?(In your context)

2. tested on EURGBP TF 1Hr (screenshot 6.png)
position: Long
size: 1.00
EP: 0.8198
TP: 0.8223
SL: 0.8180

still open and have unrealised P/L up n down.

>> again, Im not sure where to set the TP except the congested area where prices lie heavily.
>> Also, My EP was just depending on the reversal area where I see it's a Extreme support (the rectangular area) and I simply enter the position when I see there's some bull/bear in the area (probably i'd went to lower TF to seek entry, i've forgotten )



----------------

Hope you can comment and give me some guidance.

My few new questions are:
1. Am I getting your ideas right?
2. If yes, how should I determine the EP?
3. How to determine the TP?
4. When you do the trigger, will you go into lower timeframe to seek entry or just depending on the same chart (eg. 1hr or 4hr chart to seek entry)
5. How long you leave the position open?
6. Does it work well with lower timeframe or too much whipsaw?(probably i should try out by myself lol)

so far these are what I can come up with...

thanks...

note: the vertical line in both screenshot is when I do the trade.
the red slope line in screenshot5 is where my position hits the TP... took about 2hrs...
SF

EUR-USD is giving maturing sale sign, you should expect to confirm a false start, accompanied by strong bearish divergence

Ahh yes...I did a short position earlier but got wiped out.

just re-entered another short position with this pair... where should I set the TP ?

(I'm on demo, no worries. I just need guidance :S)

Hi All I was in the nzdusd short now out for 56 pips ( heads up from chaosbun thank you )

was in gbpusd short due to heavy resistance but out now for 8 pips due to pin bar

hope good trading for all... I am still struggling with it but getting there
I hope the boss is ok and not unwell

Did anyone win euro/usd ? Its make me a fortune this week.

I just close at 1.385x, I added 2 positions at 1.3970 earlier on , a batch of positions at 1.3930-40.

Happy week I also added a lot of usd chf.

I closed my 2 lots GBP/usd and change to eur/usd before the news. Luckily Draghi jawbone it down.

I am busily withdraw money. will post charts soon


There few charts for you guys to play if you interested

EUR/GBP long - near heavy support
USD/CAD long - near heavy support
AUD/USD short - near heavy resistance.

As short as 10 minutes, as long as a few days or 1 week. I normally keep it short & simple.