Thread: Drawing correct resistance and support-lines

Originally Posted by ;

Hello,
There are some fantastic videos on you-tube about this. I think that the guys name is hector Currency Market. Try puting it into an internet search on you-tube.

Cheers.

Just found this thread now - hector can be known as WTB here of FF, fantastic trader.

I suspect Cable will grow now. Very powerful support at 1.9550 I do not think it will manage to break it.
Look for an upside break from this pattern.

Originally Posted by ;

I'd recommend higher time-frames if you're new. Reduced time-frames can be choppy, and this trend-lines are more dependable in times-frames that are greater.
Additionally, attempt remove your automatic drawing-indior, it could be fine training for you to use them yourself, you have the education above

I presumed has tought us to use increased time frames, if you're new.

Originally Posted by ;

I suspect Cable will rise today. Very strong support at 1.9550 I do not think it will can break it.
Try to find an upside break out of this pattern.

Thanks for this great thread and everyone to talk about their perspectives charts . I started lately learning to trade naked mainly with S/R levels, patterns etc..

Hey Mark, the cable looks to form a change on a minor downside trend. Look even better if it could stand above 1.9600-1.9613. Sometime I can not determine if I should input (above 1.9580) or after these level (preceding 1.9600/13). Both appear to have cons and pros. Below is a M5.

, what do u think about my lines?

Those rectangles is the possible targets.

Originally Posted by ;

Just discovered this thread today - hector is also known as WTB here of FF, great trader.

He is a proficient trader, no doubt, and I have seen alot of he is trading videos.

Originally Posted by ;

I thought has tought us to utilize higher time frames, even if you are new.

No problem using lower time-frames so long as you correlate with higher TF's.

Originally Posted by ;

, what do u think about my lines?

These rectangles is the probable targets.

I am anticipating gbp to fortify according to my charts, but maybe not 100% convinced yet. Everything can happen.

I'll try post a comment if momentum affects

Originally Posted by ;

I guess Cable will grow now. Very strong support at 1.9550 I don't think that it will manage to break it.
Try to find an upside break from the pattern.

Hey, I overlooked that 1.9550 is currently an excellent support, at least for the brief chart. I believe one should have entered at 1.9580 and look for testing at 1.9600/13, taking profit prior to them seeing whether it could really break. My bad. :

Mark, if you look at longer tfs, such as 1H, then you will notice that the supporting tl has broken, and we're very likely to find some down movement, possibly to Daily Short Target1, that can also be 61 fib retracement level. Daily pivot might be a fantastic amount to go short, if price will get there now?

But yes, a long position on 5M chart would have brought you a few pips.

R

PS. Thanks for a thread.

Originally Posted by ;

I suspect Cable will rise today. Very powerful support at 1.9550 I don't think that it will can break it.
Look for an upside break out of this pattern.