Thread: Drawing correct resistance and support-lines

Originally Posted by ;

Well done. Let us see where this 1h candle closes;

If this pair starts trading back in the triangle, I will be disgusted with myself as I square off my positions prematurely, mainly its because I was believing a correction is probably. On an intraday basis I feel any movement on either side of the extremes are not likely to yield any meaningful pips, the pair is close to finishing its average daily range.

mARK

Originally Posted by ;

If it shuts lower, thats a sure indication that the bears are in drama, 2green cnadles followed by 2 red candles is near perfect for a resistance indior, we watch and see, if it shuts lower I will also look to support in the 1.51ish area - but not so optimistic of this as I think you will find alot of bulls that cashed in last week and are taking a look at exactly the very same areas of support that we're.

Will lead the way.

I believe final of currently daily pub gonna provide us with a little hint on whats next. I am very wary shorting this pair, since the money is searching for buy setups. But I can't dismiss what charts is starting to tell me, from TF, up to weekly.

Need to state that the least surprising move, IMO, could be continuation of currently trend.

the market has spoken...I exited too early....the asia open is your suitable exit area.

Originally Posted by ;

I believe final of currently daily bar gonna give us just a tiny sign on whats next. I'm very wary shorting this pair, since the money is ever looking for buy setups. But I can not dismiss what charts is starting to tell me, from reduced TFup to weekly.

Need to state the least surprising move, IMO, could be continuation of currently trend.

Braver than me, I will not short on EU unless I notice a very clear rest of 1.5200, so far aid in there, I like to trade with the trend. Greatest of pips to you thoough, what is your target?

An update on GJ intraday,

After being rejected by the asian session high....

Originally Posted by ;

thank you and aiyahmarklah for the warm welcome. I am watching this thread for a while, as my system is using trendlines as support/resistance (not only trendlines, but they're an essential part ). And... because I am too lazy to keep my thread, I use others.
, I did not have time to go all posts so I will need to ask: do you use open/close values to draw trendlines? Or you?

I like to add shadows mainly because it includes more of this market swings also gives my patterns more space. However, tbh, I think it's a topic of favored style, since I have seen individuals draw from with no known failure. The variations on lower TF is rather compact

If I am unsure, I try to look at it using a obvious frame of mind, and only think where could other traders draw it out (any round numbers etc).

Originally Posted by ;

EJ testing down. . Seems like it was rejected currently.



Yuna

I've the Exact Same support-line as you. Seems like we are heading for a big move soon.


; here you see a good illustration of excluding a fantastic drawing-spot, as it would not make sense such as that shadowfor resistance.

Wooow 121 Pip's Moves down Nevertheless in AUD/USD...
Hope so remains bearish tyhroughout the week

Originally Posted by ;

Braver than me, I will not brief on EU unless I notice a clear rest of 1.5200, so far aid from there, I prefer to trade with this trend. Greatest of pips to you thoough, what is your target?

Upgraded 1h TL's. Targets are just based on preceding high/low and.5200 as a round nr;

Greatest of pips to you also.

Originally Posted by ;

wooow 121 Pip's Moves down Nevertheless in AUD/USD...
Hope so Stays bearish tyhroughout the week

Nice move Really. Price having a tiny pause on a old TL;