Thread: Drawing correct resistance and support-lines

Originally Posted by ;

Seems like your sole trade was rather successful afterward!

I mostly look at exactly what level/price distinct patterns could happen. But some patterns favors breakout into the downside/upside according to statistic. Exp; if you're a formation in a bull-market, you will be favoring a break to the upside and in a bear-market, the contrary. Statistic viewed.

Furthermore, if you obtain diamond pattern following a big bull-move you'd like a break to the downside.

Hope I answered you question understandable.

I'd recommend Thomas Bulkowski as coach on patterns. He's no less than a master with this field with many years practice using patterns.

Thanks, will take a look.

mARK

Originally Posted by ;

Hey Mark, a nice trade u had here!

Okay lah, got stopped a bit early due to trailing quit, but then again I had been away from the display....

mARK

Originally Posted by ;

Ok lah, got stopped out a little early due to trailing stop, but then again I had been away from the screen....

MARK

Haha at least it was a favorable commerce. No fish prawn additionally gd LOL!

Originally Posted by ;

Yea and it happened earlier london close. So u made some pips ? This EU trade was not taken by me as I fell asleep yesterday lol! And I still can fall asleep when I needed a position open .



Luckily I watched my tp hit in my fibo 50 2.0115 place once I woke up



Yuna

Not following London near And seems like you had a fantastic run on cable!

Have 1h chart on cable. Still seems like it may climb. Lets see what we can be provided by a break of this triangle with.

Originally Posted by ;

Not after London near PHP Code: <code><span style=”color: #000000”> <span style=”color: #0000BB”></span><span style=”color: #007700”>And</span><span style=”color: #0000BB”>seemslikeyouhadagoodrunoncable</span><span style=”color: #007700”>!
</span><span style=”color: #0000BB”></span> </span> </code> Have 1h chart online cable. Seems like it may climb. Lets see what we can be provided by a break of this ascending triangle with.

Yea! But there's Daily R1 at 2.0175 and the forthcoming NFP. If cable breaks down the ascending triangle and daily R1, provided in the event the NFP is negative for US, cable will likely be soaring. However, I feel though it breaks the triangle, there won't be much reaction due to the nervousness of crowd before NFP. JMHO

Originally Posted by ;

Yea! But there's Daily R1 at 2.0175 along with the forthcoming NFP. If cable breaks down the triangle and daily R1, supplied if the NFP is negative for US, cable will likely be soaring. But I feel there won't be much reaction due to the nervousness of crowd before NFP, even though it breaks the triangle. JMHO

Yes, we are much safer after those US news is finished. I shall hold my positions before.

GJ update; searching for 206 place, according to 1h resistance.

Originally Posted by ;

GJ upgrade; looking for 206 area, according to 1h resistance.

And also the rebound from 205 support. Looks like u're correct, it may reach.

Yuna

Originally Posted by ;

And also the rebound from 205 support. Looks like u're correct, it may reach.

Yuna

Along with a free brief ride also, with B/E @ 1

Sticking with your trading-plan and trust your TL can be very profitable. Every trade have turned out in minutes;