Thread: Drawing correct resistance and support-lines

Thank you all


Okay, lets see some charts;

consider the resistance we are confronting on 4h chart. This resistance have been analyzed 11 (!) Times on 4h chart without a break. If price manage to split this line I think we can see high amounts. If 203.44 is broken, we can anticipate the opposite, IMO Price have stalled @ broken supportline for the time being.

Originally Posted by ;

Thank you


Okay, lets see some charts;

Look at the resistance we are confronting on 4h chart. This resistance have been tested 11 (!) Times on 4h chart with no break. If price manage to split this line I believe we can see high amounts on GJ. If 203.44 is broken, we can anticipate the opposite, IMO Price have postponed @ broken supportline for now.

Downside appears more likely, external bar noted here. 203.44 requires a break of the week's low and its only Wed..

caveat emptor

1h chart;

Originally Posted by ;

1h chart;

I am sorry, those are fibs and?

Originally Posted by ;

I am sorry, those are fibs and?

Take these dotted lines gently. If we Don't break higher we might see price heading down to 205.76 as a start, that has been my main purpose

1 easy chart;

Originally Posted by ;

Cable is analyzing powerful res in 2.0200 area

Wow, look at cable. .



Yuna

Originally Posted by ;

Wow, look at cable. .



Yuna

2.0200 tested for the Four period on daily;

Originally Posted by ;

There are lot of circumstances and conditions... Not just pulls back... View all of my posted screenshots.... You will discover something intresting. . .yA its own ture I enter in another candle following the breakage but I also find the shape of candle that divides the trendline... I mean if it's fractures the top line of trendline compared to the candle that divides the top line of trendlines have to be bullish... I mean it should not be bearish vice-versa( Significant factor)...
-- Additionally breakage accured almost in it's middle body... cadles wicks have no impact...(2nd Significant factor)....
-- Im using a few commen indior's to enter into a trade like. . .Ssto, Ma's, Rsi and other's... I love to enter when everything is my favour and at right place...(3rd imp. Factor)
--Additionally Before entering a trade I Observed the candle's shape that divides the trendline. . .It must be in my favor. . .This is the most essential variable as there are lot of candles with different shapes that may divides the Trendlines but all of them are not affective and legitimate... Just some of them... anD If you wana know which of them are affective and legitimate then save all of the screenshots of my threads post's... and monitor and observed these candles that breaks the trendlines and see the following affects... I am aware that it could take a while but believe me no body teache's me. . .Im my own instructor lol and I also save all of the screenshots of my winning/losing transactions and detected them at my free time... From that observation I came to understand that which candle is important/valid and that isn't while breaking up the trendlines...I hope you will learn alot but with patience...
GoodLuck

Umairs, with this chart as an example, I would love to hear your views on the breaking candle that's highlighted. Let's just ignore 2.200 as an essential res lineup that was analyzed many times, jus take it like a normal res line. Does this looks like a break to u? How about the long wick? enlight plz thanks.



Yuna

Well Sorry for your little late reaction. . I was little busy now throughout the afternoon... I Only watched... well see the screenshot...

Nopp!!! Read my prior article concerning this truth carefully... I stated if the the TL Broke the candle than valid and strong situation with good effect must be like...
1).... If a i-e Upper line of a valid TL Breaks than the TL Must break's it in the middle of the candle and the breaking candle must be bullish and specially TL which you draw by ur hand must be valid... (Not from De-Mark Indior coz I have no experience of this indior)....
Two )... If the candle which break's the TL and wait until another candle just like me. . .examine the scenario TL Mustn't be on candles wick coz it happened that candle retraces back and rests the TL and it is wick remain's on TL. . .Noppp it is not valid...( My experience)....