HEAVY Support/Resistance System

Here is a trendline indicator,

Happy Trading All

Did anyone test this indicator and see if its work? I not very sure if one should use trend line indicator.


Anyway for today my positioning is

NZD/USD long ( same . heavy support idealogy )
EUR/USD long (37-49 zone got some moving average with heavy support)
EUR/GBP long (support broken but seems fine at 40 zone)


I close my EJ long at 139.94 - 140.00 last week at 30 earlier on.

Hi all
Chaosbun could you comment on this one please

http://screencast.com/t/Sjvv8eIWi

My position ahead of Euro CPI release in less than 24 hours time..


EUR/USD long & EUR/JPY long.


EUR/USD had some decent support at 1.3680, EUR/JPY had strong support at 10 to 30 zone.

I had EU short @ 1.3687, still n profit. waiting it to trend lower as downtrend is strong (EU did have a strong support @ 1.3680zone but i traded based on continuation breakout )

Personally long GU at low 50 and EU at low 50 also.

Both close for around 40 pips each.


I now longing USD/JPY, buyer spotted at 101.30, might be a rebounce up when yellen speaks later or fall might resume till near 101.
I favor the upside, I also added USD/CHF long as the trend breakout earlier on with heavy support at 90 zone.

if you want a sudden rush of risk:reward

do this trade

Support is within 50 pips - 2 heavy support.

Trend is touch 4 times, I suspect a breakout soon, perhaps to the upside after such a strong downtrend.



E/J long, the trendline is not clear cause I zoom out, you can draw it yourself and you will understand what I mean.


Another support chart is UJ



Heavy support at 30 zone, which is 20 pips away.


I think jpy crosses like UJ , EJ seems nice to play.
I am on it, with tight stop loss.

This week was my first losing week.

Reason was because most of my trade was base on speculation and not on trendline etc. This week was full of fundamental news that bring down risk pairs and causes large amount of risk aversion.

I cut all my positions at wednesday and then did some trend line & heavy support position. Then I won some at thursday and my loss was minimize, my saving did not reduce but my trading balance reduce by 1/4, the loss was cut much because the loss suppose be 1/2 of my trading balance.

But glad I cut my loss and bet big on trend line and heavy support such as my GU and EU position at the low which bag me 40 pips each, and the lot size was big because the SL was tight too.

Have a nice weekend guys.


Currently for the next week I look forwards for UJ and EJ position to make some pips.

A Example of UJ Down trend line.



A test of the trendline will bring price close to 102, which at current level will be quite rewarding, a break through will breach 102 resistance.
The support hold quite well for several instances as you can see on the chart. A break lower will test 100.6


Another JPY crosses I took is EJ long which can be seen here



The support also holding. and it seems the trend line is tested 4 times. A reversal will breach trendline and test 139.40 which is the closest resistance follow by 139.70 then ultimately 140.70

Added position-

AUD/USD long - Trend Line with 2 Heavy Support .



NZD/USD long - Trend line with 2 Heavy Support

Still trading my friend?

EU Long entry taken



1.3580 old support come in place

>> This is counter trend trade <<


Earlier on I did USD/CAD short & AUD/USD short on my personal trading, and won some 40 pips in total

NZD/USD Long Taken



Reason:
Support come in place
High Yield / Carry Trade Worth


Break of 0.8475 - 0.8480 zone to continue down trend, else it will continue going up.

Potential Price lookout for GBP/USD UpTrend Line Play

Another trade to joint with EUR and GBP movement.

EUR/GPB Long at 0.80843 or current price.



Previous support come in place.

Counter trend trade too, but i like the R:R for this to be around near 1:1

Hello, eurgbp have big SD area in week chart. You watch this big area too, or check only h4.d1?

Thank you

USDCAD Daily
right now at important resistant to support level. still holding at 1.0725

Windfall for AUD/USD Today

Enter short at 0.9440, close at +60 pips

Trend play for Tonight NON Farm Pay Roll + ECB Press Conference

Breakout to upside for USD/CHF



Expect some good labor data from USD, target is to make at least 50 pips from this long.

Another good play is EUR/CHF Long for tonight.



Breakout of down trend line, with ECB likely hold QE till september / more data, I expect some strength in EURO

IF GU Could fall another 15-20 pips, it could be a good short from there.



A break of 1.7138 will target for more downside.