Thread: Drawing correct resistance and support-lines

Originally Posted by ;

I jUst near the E/U 30 -Minutes breakdown for 30 Pips,like I missed the chance to enter in a today's AUD/USD breakdown (See My prior Article with screenshot) Trade coz I was little busy...
ECB President Trichet Speaks” News is going to emerge...
watch the screenshot... Additionally seem's breakdown in 4-Hour chart is all about the trigged. . .But I just exit coz of new's and as a day trader my daily goal is currently successfuly achieved... </b>

This is 1h char for eur/usd, it appears that price is heading downward. Notice that price have just touched monthly support @ 1.5466 and reversed from here. Could we see a retrace?

Originally Posted by ;

Here is 1h char to get eur/usd, it seems that price is heading downward. Notice that price have only touched monthly support @ 1.5466 and switched from here. Can we see a larger retrace?

It's being encouraged by the rumours of an emergency fed fund rate reduction, maybe today, so watch carefully.

Originally Posted by ;

it is being encouraged by the rumours of a crisis fed fund rate reduction, maybe now, so watch carefully.

Thank you for the heads-up. A break from 1h could provide.

Originally Posted by ;

A break of asian session high may be happening on GJ...

yea, let's watch. . Price is still struggling at daily pp

Aud/usd ;'ve turned into resistance on 1h, look how heavily it obtained re-tested!

Seems like you got your candlestick Umairs

Originally Posted by ;

Thanks to your heads-up. A fall IMO A break from 1h could offer.

I looking to buy sub 1.5300, like I do not expect much movement down wards, still a bull fashion.

Rejected

Originally Posted by ;

I looking to buy sub 1.5300, like I don't expect much movement down wards, still a bull trend.

This eur/usd is in a really strong up-trend shouldn't been taken lightly. The trend is upward, as you state. I would love to see some numbers on how many traders have lost money looking for tops on this pair.

However, seems like daily chart want inform us something (currently candlestick could look whole different when closed of course);

Originally Posted by ;

I looking to buy sub 1.5300, as I don't expect much of a movement down wards, nevertheless a bull fashion.

Me too

I really do intraday, thats exactly the level I'm seeing, very low risk entry I think