Thread: Drawing correct resistance and support-lines

Originally Posted by ;

WOOW This Pair is busting a few good resistance level's and honestly speaking I was anticipating it to drop but technically talking watch the screenshot... 45-Pip's Max. Breakup Transfer is there in 4-Hour chart...

uMAIR, I DONT UNDERSTAND WHY YOU DREW THIS SUPORT TRENDILINE THAT TOUCH JUST IN ONE CANDLE.I THINK UOU HAVE TO TOUCH IN TWO CANDLES AT LEAST.AM I WRONG?

Originally Posted by ;

Let's see if 50% retains;

Take a look my buddy!!!! What do you believe??? UP OR DOWN?? That is why I like using fibonacci!!!

Originally Posted by ;

Have a look my buddy!!!! What do you think??? UP OR DOWN?? That is why I like using

I will start thinking if price is going down to 203.44 area

What say you people?

Originally Posted by ;

UMAIR, I DONT UNDERSTAND WHY YOU DREW THIS SUPORT TRENDILINE THAT TOUCH JUST IN ONE CANDLE.I THINK UOU HAVE TO TOUCH IN TWO CANDLES AT LEAST.AM I WRONG?

Hey I did not know ur query Much..But see the screenshot that why I draw this successfull trendline in AUD/USD 4-Hour chart... A successfull breakup is there for almost 100-Pip's. . .Well As far as I know that why I draw a trendline that touches just a single candle Proper...???
But friend see it's significance it turned out to be a strong line as candle touches and bounces back for almost 200-Pip's. It isn't necessery that there must be one candle after neglects to break that how much the candles bounces back. like here. . .Also see the screenshot you may know that how valid I draw them as after the breakup it moves for 100 Pip's alomst...

Umairs,

exactly what state you on GU?

Originally Posted by ;

umairs,

Exactly What say you on GU?

Still Bullish. . .reason is the weekly chart... A CLEAN split is there... More than 400/500 Pip's... Maybe we might found some short term short trade apportunity via 30-Minutes chart but maybe not for much pip's... But im now waiting for a few significant breakdown from 4-Hour chart. . .if it did than bearish side might got some great boast. . .Otherwise remain's bullish. . .See The equally screenshot's...

Originally Posted by ;

Still Bullish.. .reason is your weekly chart... A CLEAN breakup is there... Over 400/500 Pip's... Perhaps we may found some short term short trade apportunity through 30-Minutes chart but maybe not for much pip's... However, im now waiting for some significant breakdown's from 4-Hour chart. . .if it successfully did than bearish side may obtained some great down boast. . .Otherwise stay's bullish. . .See Both screenshot's...

yeah... I neglected to properly viewing weekly breakoff. . It wasnt a great one for me personally and that result the collapse as of now. . I should reevaluate more on it larger time period because theres break out on tf. . hurm. .

Most currencies strength are given by a weak dollar, no indications of anything changing shortly . . .hopefully a correction. Below is a weekly USD index chart

Originally Posted by ;

Most currencies strength are given by a weak dollar, no signs of anything changing soon . . .hopefully a correction. Below is a weekly USD index chart

Good reading why dollar plumps; http://www.bloomberg.com/apps/news?p...2FqYrefer=home