Thread: Drawing correct resistance and support-lines

Originally Posted by ;

Got to love it

No doubt partner.)

Originally Posted by ;

Silver wedge breakout;

Damn broker. My picture looks different. No trade. Damn. I like trading wedges, particularly on da Silver!

Nice one!

Originally Posted by ;

Silver wedge breakout;

The only real trade for me this week, already booked the profits at 90 percent AWR.

Here is what I follow now. Am expecting breakout over the H1 bearish trendline. There was a one an hour .

This is a TL on cad/jpy that were touched 5 occasions. Sweet irony that I am still hold my short position with this pair. At least until the TL breaks, that is 99.9% sure it will in VERY near future

PS: Notice that you can draw the TL in the top of the trend with practically same angle!

Hi All,

I understand that we can draw support and resistance line both horizontal and inclined. If these lines, which to follow are respected by a fad but my question is? . Is it inclined or horizontal? . As a trader, this can be confusing stage for me. Because the majority of the time currency esteem both horizontal and inclined S/R well. .

Originally Posted by ;

Hi All, I know that we may draw support and resistance line both flat and likely. However, my question is when a fad respects both these lines, which to follow? . Might it be flat or inclined? . As a trader, this can be a lot confusing stage for me personally. Because the majority of the time currency esteem both flat and likely S/R nicely. .

From what I've read, horizontals seem to be more significant than others. @50pipsfx advoes this nearly exclusively. Other graphical components like Fibonacci lines primarily work off of the flat line principle, though they are derived from varying gradients of tendlines.

Drawing horizontals lets a greater viewpoint historically as well I'd say.

Originally Posted by ;

Hello Great to see that you bring up this. An excellent and important point. Hopefully that your thread will last and provoke some discussion on tendencies appearing and prepared to break according to those proper lines. It's challenging to keep an eye on all pairs / period frames to ch them. I understand someone has submitted the Tom DeMark document before but it warrants a repost. In addition, the MT4 indiactor which brings the lines AND possible targets after breakout gt;gt; ** Just realized I attached the wrong MT4 indior. . I can re attach ** Ok proper one connected now image...

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