Thread: Drawing correct resistance and support-lines

Originally Posted by ;

Yuna Watch screenshot of 1-Hour chart... I was asuming to go short but see Significant US Data alter the gap position... Reversal candle has been there it also drops for 15 Pips before news but news suddenly changes the entire situation... Thats y being a day technical trader I remain far to input before imp. Data's...
Dont be curiuos Much Hahahha see screenshot... Im 100% Sure when there is not the Important data statement then this pair has been in a perfect place to drop... My Experience....

Thanks Umairs, I only wanna check whether I see what u see. Anyhow for ur trading fashion, besides candlestick patterns, u seem to enter upon breakout without even needing a pullback. Is tt authentic? Correct me if I'm wrong

Yuna

Originally Posted by ;

lol I stated in my post that it appears to go short but I understand about the statement of trade balance... Coz In ordinary terms as a day trader I always avoide to input before and after half an hour of important new's as my SL is merely 40-Pips at Jpys related pairs and 30-Pips in Others...
Yep but in ordinary circumstances if I discovered the breakage after the half hour of news in my favour than I enter...
And around last forecast where I stated appears to go short. . .then I had been predicting to go short coz of change candles in my favour... But then Trade balance was announced I know concerning its announcement. Im a huge fan of this candlestick pattrens and they're believe me a powerful weapon for you if u have it's knowledge in depth... I post the screenshort's of my trades via candles here...
GoodLuck my friend...
Joyful Pips'...

Yes I have similar stop reduction as you can. Beneath the red line was my intended trade that was not implemented black line is that the stop loss, this saved me a few pips. However the upswing triggered my extended order line. Within this scenario, I was not directionally biased. The idea here is to make the most of whatever movement this pair will make using lows and hoghs as a guide. Seeing candlesticks, I purchased a book on this went through it and continues to be on the shelf because, seems like I want to look into more. Has candlestick patterns been statistically proven ?



Regards

Originally Posted by ;

Thanks Umairs, I just wanna assess whether I see what u see. Anyway for ur trading style, besides candlestick patterns, u seem to enter upon breakout without even waiting for a pullback. Is tt authentic? Correct me if I'm erroneous

Yuna

There are lot of circumstances and conditions yuna... Not only pulls back... View all my posted screenshots.... You'll discover something intresting. . .yA its own ture I enter in a next candle following the breakage but also see the form of candle that divides the trendline... I mean if it is fractures the top field of trendline than the candle that divides the top line of trendlines have to be bullish... I mean it should be bearish vice-versa( Significant factor)...
-- Also breakage accured nearly in it's middle body... cadles wicks have no effect...(2nd Significant factor)....
-- Im using some commen indior's to input in a trade like. . .Ssto, Ma's, Rsi and other's... I like to input when everything is my own favour and in right place...(3rd imp. Factor)
--Also Before entering a trade I Observed the candle's shape that divides the trendline. . .It must be in my favour. . .This has become the most important variable as there are lot of candles with different shapes that may divides the Trendlines however all of these aren't affective and valid... Just some of these... anD Should you wana know which of these are affective and valid then save all of the screenshots of my this threads article's... and monitor and noticed those candles that breaks the trendlines and watch the following affects... I know it may take some time but believe me nobody teache's me. . .Im my own teacher lol and I save all of the screenshots of my winning/losing transactions and observed them in my free time... From that observation I came to understand that candle is important/valid and which is not while breaking up the trendlines...I trust you may learn alot but with patience...
GoodLuck

Originally Posted by ;

Regarding candlesticks, I purchased a book on this, briefly went through it and its been on the shelf since, seems like I need to check into more. Has candlestick patterns been statistically proven ?



Regards

Ofcourse It Proven alot... well I,ll also place the screenshot's of my transactions through this candlestick pattren... You'll Im 100% sure take it's importance... I understand lot of trader's trading through them successfully even without any indior's... I have detected and studied alot about this pattren in my forex dealer. . .Preety Usefull...

Originally Posted by ;

You will find lot of circumstances and conditions... Not only pulls back... View all my submitted screenshots.... You will find something intresting about my entrance. . .yA its own ture I enter in another candle after the breakage but I also see the shape of candle that breaks the trendline... I mean if it is fractures the top field of trendline compared to the candle that breaks the top line of trendlines must be bullish... I mean it must not be bearish vice-versa( Important factor)...
-- Also breakage accured nearly in it's middle body... cadles wicks have no impact...(2nd Important factor)....
-- Im using some commen indior's to enter into a trade like. . .Ssto, Ma's, Rsi and other's... I like to enter when every thing is my favour and in right place...(3rd imp. Factor)
--Also Before entering a trade I Observed the candle's shape that breaks the trendline. . .It has to be in my favor. . .This has become the most essential variable since there are lot of candles with different shapes that may breaks the Trendlines but all of these aren't affective and valid... Just a number of these... anD Should you wana know which of these are affective and valid then save all the screenshots of my this threads post's... and track and observed these candles that breaks the trendlines and watch the after affects... I know it could take some time but believe me nobody teache's me. . .Im my own teacher lol and I also save all the screenshots of my winning/losing trades and detected them in my free time... From this monitoring I came to understand that which candle is important/valid and that isn't while breaking up the trendlines...I trust you will learn alot but with patience...
GoodLuck

Wow, thanks for the detailed information u provide. . I needed a quick run through of your screenshots, I observed most of the candle tt made the breakout were occuring in body, although not marubozu but close enough. Unfortunately tt's the only real thing I observed, I am convinced there is more to it. Like u say. . This comes with experience. And I agree with u tt we're our best master

Yuna

Currently Active Users Viewing This Thread: 5 (3 members and 2 guests), stace, Umairs2004

hi both of you...

Hi

Originally Posted by ;

Currently Active Users Viewing This Thread: 5 (3 members and 2 guests) johnbaem,, Umairs2004

Hello both of you...

Originally Posted by ;

Currently Active Users Viewing This Thread: 5 (3 members and 2 guests) johnbaem, stace,

hi both of you...

Hi2'm Fine...
Nice to see your analysis also...

Can anyone draw me some SR lines for EUR/USD?? Thank you

I cant upload attachment. . Is it?