Drawing correct resistance and support-lines - Page 28
Page 28 of 5067 FirstFirst ... 18262728293038 ... LastLast
Results 271 to 280 of 667

Thread: Drawing correct resistance and support-lines

  1. #271
    Quote Originally Posted by ;
    Hey,

    very simple and interesting thread. I will try to engage here too.

    Perhaps someone would like to talk about Cable and EU chart?
    Pennat formation (called continuation pattern and formed by a consolidation period, which gives converging trendlines) on 4h. A break from this could be interesting to the upside, IMO. If broken, I'm targeting .9962 (resistance on daily).

    Correction: Wrote 1h, 4h it is


  2. #272

  3. #273
    Quote Originally Posted by ;
    Hello,

    Just how can I join a chart?
    Press attachments, paper clip icon, to the right where you fix your font

  4. #274
    Attachment 91891



    Thx,

    so that it is possible to see on EUR/JPY hourly chart, it just managed about 90 pips during the asia session, therefore when it broke from the triangle on the downside, we can easily conclude that this break is beneficial as it might want to establish its typical trading range of about 150 pips. Throughout the london session the price went on down to approximately 159.80. So from asia high to london low is roughly 160 pips, of it moving lower, odds is slim.

    So on the second triangle breakout, its about the upside on the lower top of the day's range, so its a good trade.
    And throughout the NY session its own traded over the range.

    Every pair is effective to moving a particular range per day, of course there are exceptions however its not as frequent as its average daily.

    MARK

    hope this works out as I'm not too sure about the image attahment clarity.

  5. #275
    Quote Originally Posted by ;
    Attachment 91891



    Thx,

    so that you can see on EUR/JPY hourly chart, it just managed about 90 pips during the asia session, therefore when it broke from this triangle on the downside, we can easily conclude that this break is beneficial as it may seek to set up its typical trading range of approximately 150 pips. During the london session the price went on down to approximately 159.80. Thus from asia high to london reduced is about 160 pips, of it moving lower, chances is slender.

    Thus on the next triangle breakout, its on the upside to the lower extreme of their day's range, so its a good trade.
    And during the NY session its own traded over the range.

    Every pair is capable to moving a particular range per day, of course there are exceptions however its not as regular as its average daily.

    MARK

    hope that this works out as I not too sure about the image attahment clarity.
    What you say here seems intriguing. Unfortunately, I can't see your charts. Can you discover that attachment icon?

  6. #276

  7. #277

  8. #278
    Quote Originally Posted by ;
    better ?


    Can see your charts currently

    Keep us updated on your daily range!

  9. #279



    The average daily range is just one more concept in technical analysis, it has been discussed in some threads as well. It is most likely under utilized. I find it complimentary to line drawing. Not wanting to go off subject, see how this recent triangle breakout can be taken with more assurance if you take into account the following simple truth:

    - USD/CHF typically averages more than 100 pips a day ( 24 hr interval )
    - above we have a triangle which breaks from a 30 and pip range during asian session, so we can safely project a prospective movement in the direction of the fracture of at least 30 to 80 pips based on how you manage your own trade.

    Mainly its about trying to feel the market, something like trying to predetermine whether if the break is well worth taking, and when taken to what extend can you expect it to proceed? There isn't any exact points to follow in this, only quote. Exercise is essential. Like pivots in combination with trendlines and uses fibs, this is used by me.

    And of coz there are weekly, monthly, annual ranges to consider also.

    Simple?

    mARK

  10. #280
    Quote Originally Posted by ;



    The average daily range is just one more notion in technical analysis, it has been discussed in some threads here as well. It is under utilized. I believe it is free to line drawing. Not wanting to go off topic, see how this current triangle breakout could be obtained with more assurance if you take into account the following straightforward facts:

    - USD/CHF typically averages over 100 pips a day ( 24 hr period )
    - above we have a triangle that breaks from a 30 and pip range during asian session, thus we can safely project a potential movement in the direction of the fracture of 30 to 80 pips based on the way you handle your trade.

    Mainly its about trying to sense that the market, something such as attempting to predetermine whether the split is worth taking, and if taken to what extend can you expect it to move? Unfortunately there's no precise points to follow in this quote. Exercise is essential. Like uses fibs and pivots in combination with trendlines, I utilize this.

    And of coz there are weekly, monthly, annual ranges to consider too.

    Easy?

    mARK
    Eduional, Mark. Could let you know how movement to expect from a break-out. I like your approach.

    I'm gonna watch open on several pairs to see how it works, I like the idea.

    I must confess, I've nearly become blind of the aspect as I trade gbpjpy mostly. Since GJ could move 120 pips 1 day, and 500 pips daily afterwards, I have not been able to create any system.



    Do you trade usdchf during Asia session?

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners more information