Thread: Drawing correct resistance and support-lines

Sure, it is ok, we all have our own way to exchange

R

Originally Posted by ;

Hello,

I see your things. Hope you do not mind my taking it not so serious. It's only my own mind trying to exchange with uncertainties (what I learn far). Like you guys in this thread, I really don't use any lagging indiors, but trading naked with aids of price actions, including S/R levels, patterns, trendlines etc..

Nice to share with you guys.

Regards,
pipal

Originally Posted by ;

I disagree with the way you draw your trendlines, I find them to be fairly random, but then again, I wrote a novel about it I'm a believer of everyone (including myself).

I'm curious how you draw yours however, since I see lines but then again, I'm nearsighted and blind as a bat so that I may not be viewing the rationale behind your lines. .

So I'm curious why you pick certain points to use and others, and that means you do not pick the tops of some lines. .

Edit: I assume/hope that was meant for me personally since I answered with damn far haha, actually tho other people answered (I noticed after I wrote)?

I'm not sure whether you've read the introduction of this thread since you call the drawing random? Might be me describing poorly.

Anyway, I could place it out again;

I use candlestick pattern; we're in a uptrend, 2 green pubs followed by inverted hammer and 2 red pubs, which can be ideal candlestick for where price stops/reverses, fast reversal of supply/demand, and also the greatest setup I try to search for drawing my lines. If I don't see hammer-setup I have a tendency to draw from 2 red bars green. But there has to be some sort of shadow on the candlestick to show that price fights at currently level.

But mostly on a chart there's only 1 way to draw lines posted on the chart. Not necessarily, and it seemed to me that some newcomers could use some way of drawing they are lines.

I'm not saying that is the only way drawing, or the correctly method of drawing, it is merely a way working for me. I'm certain you got other ways of drawing that could turn out almost (better?) Same way.

This was not meant as a trading-system, but is may begin forming that way.

It's likely to be a tricky afternoon for trading...

I built a series of longs after the tl pointing down essentially breaked. I'd expected that she'd climb back to daily , but had get out prior to that. Oh well, got a couple of pips anyhow...

Originally Posted by ;

Man, thats the price for taking a transaction when walking in half-sleep. Resistance need to be analyzed before we can become support.

Rocroy your 50 percent was well hit, there's a solid support at 210.73 and your fashion line can be well in play. I have taken a small long here and after it crosses my red fashion line I will enter a second long pos target my origanal 213.69.
Guy's your thoughts

Originally Posted by ;

Rocroy that your 50 percent was well hit, there's a solid support at 210.73 and your fashion line is also well in drama. I have taken a little long here and after it crosses my red trend line I will go into a second long pos goal my origanal 213.69.
Man's your ideas

sorry forgot to attached the chart

Update on GJ, struggles with london pivot at this time. Would like that candlestick to form for being 99% confident about a bullish day.

Difficult to say... As an ad-hoc analysis I'd say that UJ is still moving down (can rebound from yesterday's low) and GU looks somewhat tired... so I would say she might make a move down, or range around daily and daily brief amounts (see my chart)?

Originally Posted by ;

that your 50 percent was well hit, there's a strong support at 210.73 and your fashion line can be well in drama. I have taken a small long here and when it crosses my red fashion line I will enter another long pos goal my origanal 213.69.
Guy's your ideas

No fear yet. 1h getting heavily tested. 4h rock solid so far

Originally Posted by ;

Difficult to say... As an ad-hoc analysis I'd say that UJ is still moving down (can rebound from yesterday's low) and GU looks a bit tired... so I would say she could make a go down, or range around daily and daily short amounts (see my chart)?

This should teach me to keep my eyes open a bit beter and look at all aspects that was the quickest 30pips I have loss. Should have experienced a larger stop.woudn't make that mistake again.

Originally Posted by ;

This should teach me to keep my eyes open a bit beter and look at all aspects that was the quickest 30pips I have reduction.

Only my viewpoint, but when trading GJ that I would recommend trading half your typical position with double quantity of your usually stop reduction for a beginning. Or just enter when you're dead certain about your installation