Thread: Drawing correct resistance and support-lines

Oh Dear! I was stop out at 210.45. Price nearly hit my tp @211.20 but reverses when near tt.
Did I put my sl too tight? Or probably tt was jus lol, a trade. Opinions on my trades are welcomed!

Yuna

This is just 1 of those times being technical trader can be difficult. All this selling of dollar is brought on by news, no drawing or indior could predict it.

However, I feel ready for a turnover on eurusd. Facing strong resistance right now.
Lets see if it may form a resistance-drawing point.

Originally Posted by ;

Oh Dear! I had been stop out at 210.45. Price nearly hit my tp @211.20 but setbacks when near tt.
Did I put my sl too tight? Or likely tt was jus lol, a trade. Opinions on my trades are welcomed!

Yuna

You should always have a protective S/L when you're at the green with 20 pips... IMO.
And also there was a reverse candle in your chart it's clearly visible that was a good sign that perhaps a change is coming. Don't forget that the number 1 rule: break is better than a reduction!!! There's always a tomorrow

Originally Posted by ;

However, I feel ready for a turnover on eurusd. Facing strong resistance right now.
Lets see whether it may form a resistance-drawing point.

I'm already short on eur/usd with a very light position at 1.4807 targeting 38% of today. We'll see.

Originally Posted by ;

Oh Dear! I had been stop out at 210.45. Price almost struck on my tp @211.20 but reverses when near tt.
Did I put my own sl too tight? Tt was jus lol, a bad transaction. Remarks on my trades are welcomed!

Yuna

As told in a earlier post you need to have locked in your profit. Do not make a trade turn bad. This is VERY important. At if u hit 20 or so, break.

Originally Posted by ;

I'm already short on eur/usd with a rather light position at 1.4807 targeting 38% of now. We'll see.

I was detained, but PA is ticking slowly . Remember that price have broken yesterdays making alot of investors to buy. However, it all breaks down to if this resistance retains or not.

Originally Posted by ;

You should always have a protective S/L when you're in the green with 20 pips... IMO.
And there was a reverse candle in your chart it's clearly visible that has been a fantastic indication that maybe a reversal is coming. Do not overlook that the number 1 rule: break is obviously better than a reduction!!! There is always a tomorrow

Okae, thanks markers and for the comments. I inquired tt
I must place sl at break even when I have positive 20 , I neglected the indication of reversal candle and, when tt candle closes at 211 I still have 20 pips, should have lock .

Yuna

Hi ,

here is my chart with g/u plus a few down trandline, what do you think - will it holds??

Originally Posted by ;

Nope I was only curious, I did short that the USD/CHF although the idea behind it was that it's a win-win situation: if I lose money that's the fee I have to pay for my own shallow analysis and t recall to not do it again and if I can have any pips than it's simply magnificent. And I'd 15pips (down to 50% then I quit) so thanks for your help mate!

Along with your geppy analysis (potential upside B.O. predicated on PA) was really professional. I expect you jumped the bandwagon in time it's a lot of money now! 122pips because the breakout

You have to had a nice run with the chf now

Originally Posted by ;

Hi ,

here's my chart using g/u and some downward trandline, what do you believe - will it retains??

Difficult to tell right now, as market is rampant. Here is the chart I've with proper r/s. Resistance is currently getting heavily tested right now. Might look to get a break soon.