Thread: Drawing correct resistance and support-lines

Originally Posted by ;

i cant upload attachment. . Is it server?

Utilize picture hack to upload your chart. .

Sometimes it's really helpful to plot a regression and make an envelope based on it. That's your support/resistance.

Reversal Candle In 30-Minutes chart . . .Though Trend was in my favor at 4-Hour chart... But dont wana take any Risk as'm a day trader and my SL is Just -30 Pip's. . .Now I simply found exit and the entry opportunity in a candle that was exact same coz It shaped Doji contour and reversed for -25Pip's. . .So I enter and exit in a exact same candle for only 11 Pips'...
Possibly drop's more coz trend is in it's favour but didnt split the four hour's chart strong barrier nonetheless if it did than more Pips are anticipated...... But One must need to Happy using wht's that he get. . .Atleast something ve . . .Not -ve...

Here is the fantastic example of breakdown while is was sleeping... 73 Pip's downward Move. . .See that the screenshot....

AUD/USD BROKE THE LOWER Line of TL... 14 Pip's dropdown yet...

Originally Posted by ;

Sometimes it is really helpful to plot a linear regression and make an envelope based on it. That is your support/resistance.

Linear regression is just a statistical approach to trendline drawing, it supplies a so called proper data analysis involving time collection. Its usage similar to most other analysis approaches will be subject to controversy and has been. Drawing on simple trendlines employing observation is a more straightforward approach where this itself presents its own challenges as to what data to think about when drawing, such as closed prices or high/low? Of that Linear regression also suffers exactly the same dilemma. Linear regression has been blamed for its use in economic study, however in regards to trading (not price monitoring ), Linear regression or easy trendlines will present the very same challenges for a trader when it has to do with the validity of accuracy. My vote is for this trader identifies supply and demand areas that is more crucial to a trader's analytic approach, statistical data are secondary, particularly in short term trading. Statistical data analysis tend to be accurate over duration period of 10 decades and beyond. A lot of men and women utilize Linear regression but I suspect that their profitable approach towards this method is not any different to trendline drawing.

Why take all of the fun out of trading?

I may be wrong, its only my view.

EUR/USD update...

Broke resistance, evidently it's also the asia session high, 50 pips in less than one hour and still running...

Hello all, great to see you holding the ribbon going! Many nice posts and charts.

I hope someone made some fantastic pips on GJ.

My fibs is the only r/s I've in play right now. And price reversed by 100 pips when hitting 38.2% Targeting 208.47, 50 percent.

Have this broken lines on eurusd;

You are back, now I can use your analysis against mine again LOL

Hmm, I think we're taking a look at precisely the same breakout on EU.

Dollar is taking centre stage for the moment