Drawing correct resistance and support-lines - Page 7
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Thread: Drawing correct resistance and support-lines

  1. #61
    Quote Originally Posted by ;
    Yet another megaphone ( ) on the GBP/USD M5 charts. The longer term TFs suggest a break to the downside... We'll see.
    Tempted to get a long on gbpusd. If it falls abit down to support and I get the price I'm looking for. A rest is still favored by you?


    Edit: Never mind, simply look at the PA.. Too much selling. Calling that long off. Whether it goes up doesn't matter.

  2. #62
    No, closed my brief believed that the double bottom would mean something, also played but that did not provide much. So I missed that nice downmove. But it was okay anyhow...

    Quote Originally Posted by ;
    Hope you had your brief by means of this fall?

  3. #63
    there's a good service at 9425, also she may visit that tl before rebounding up. The tl is a good spot to really go, if things go this manner. So I would nevertheless keep gu buy on grip...

    Quote Originally Posted by ;
    Tempted for quite a while on gbpusd. If it drops abit down to encourage and I get the price I am looking for. You still favor a rest?

    Edit: Never mind, just look at the PA.. Too much selling. Calling that off. Does not matter if it goes up.

  4. #64
    Quote Originally Posted by ;
    No, shut my short at 210, believed that the dual bottom would mean something, and played with long, but that did not give much. So I mainly missed that downmove. Nevertheless, it was okay anyhow...
    Well, then you did great. Better safe than sorry. Bank profits while you can.
    And be very careful ching a falling knife if your buying a pair beneath greatly pressure. I have discovered the hard way

    And that I see a proper chance for gbpusd wanting your support line. Price is close to break from channel.

  5. #65
    How wrong can I be! Price to cover when being to premature on estimating where the market is moving before I got any confirmation pub. 1h hold price away from breaking up support, just glad I didn't open any places.

  6. #66
    Yes it was a tricky movement indeed, I think everyone was gambling on cable's collapse but that just didn't happen (yet). Luckily I discovered this trendline ancient (the one with sharper angle on the screenshot) and that I thought right the multiple service lines (S1, FibS2 and this particular line) will maintain the drop for the time being.
    Megaphone pattern still has never been busted! Current target 1.9546, the top line (resistance) of this megaphone. We are going to see.

  7. #67
    I think not many people anticipated the kiwi to go higher after rising for a single month without any actual retracements.
    But TA and pattern recognition does its job, and does this very well, check out the screenshot connected! The target is high it might take a week or 2 to arrive and I know but it's based on rules. Move your profit protective SLs from time to time

  8. #68
    Quote Originally Posted by ;
    I think not many people anticipated the kiwi to go higher after climbing for one month with no actual retracements.
    But TA and pattern recognition does its job, and does it very well, take a look at the screenshot attached! The goal is high it might take a week or 2 to get there and I know but it's based on rules. Transfer your profit protective SLs from time to time
    Gotta love trading in a strong trend. Your trend-lines are strong and legitimate .

    A little update on guppy, expecting trend to continue down if that resistance retains up.

  9. #69
    Quote Originally Posted by ;
    GotId adore trading in a strong trend. Your trend-lines are valid and strong also.

    A little update on guppy, anticipating trend to keep down if this resistance holds up.
    The flat line on your screen happens to be the daily S1 today also! Along with also the line!! Energy - odds that it will not get broken - odds for cash. That's just what happened now and it has already 60pips for me

  10. #70
    Quote Originally Posted by ;
    The flat line in your screen appears to be the daily S1 now too! Along with also the pivot line!! Triple power - triple odds that it doesn't get busted - chances for money. That's just what happened now and it's already 60pips for me personally
    Well isn't that good We do not say no for additional conformation on a trade that's for sure! That's the kinda installment I love. Banked mine in 55.
    Still raiding?

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