Hello,
I was wondering what you guys think are the best support and resistance levels that worked for you pretty well?
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Hello,
I was wondering what you guys think are the best support and resistance levels that worked for you pretty well?
Weekly pivot points make my vote closely followed closely by trendlines on the daily chart. Better than any single s/r degree is a combination of at least one of them meeting at the same stage, known as confluence. Here's an example of a break I watched on the daily EUR/USD chart on the 11 of jan this season and then a close up of the upcoming days price action on the chart. The confluence of the back of the trendline and the daily central pivot was too much for the panic stricken bulls. They knew they had to maintain that trendline but neglected on four attempts to reclaim it. This setup some very tradable price action on the continuation and the afternoon down to todays level. Top down analysis and s/r confluence is all you've got imho
https://forexintuitive.com/attachmen...1450850619.png
https://forexintuitive.com/attachmen...1867108610.png
Hi Take a look at the Pic's one by oneQuote:
Originally Posted by ;
this is the illuion of S/R Line's and perform's preety nicely for me on 4-hour chart's
https://forexintuitive.com/attachmen...2057131264.png
https://forexintuitive.com/attachmen...1151382167.png
Thanks for the input macdoug and umairs.
@umairs
do you always put your lines points of large retracements and just wati until it gets broken?
Well I alway's foucus U-Shape and V-Shape candle's formation to draw my own support and resistance lines on higher timeframes like 4-Hour's and daily specially(To see my previous posted pic's) and on lower tf's like 30-minutes I utilize trendline's. Anyways read this pdf on U on S/R lines --V Candles contours. Its intresting maybe it will help you .Quote:
Originally Posted by ;
https://forexintuitive.com/attachmen...9484303545.pdf
ah, thanks. I once had in my folder but never have to read it. I´ll a possess read.Quote:
Originally Posted by ;
....sorry this post is made by mistake.
My mistake, I had been thinking the red lines in the picture are the S/R levels. No matter, I had been thinking when the price broke the S/R amount, TL a tiny bit before the next S/R level and you place the SL about the amount witch was busted.Quote:
Originally Posted by ;
Regards,
Bird and I concur, the 123 pattern is as great as any for getting into a situation. For entering, I use it .
Additionally I look for trades around the 4 hour, but I go down into the 5 or 15 minutes to loe the 123. It works for me. The key is not to forget you are trading on the higher frame. It's easy to get sucked to the noise on the levels once the transaction is on someone like you who is having a hard time. As soon as you're at the money, move up to at least the hour, preferably the 4 hour. It is simpler that way.
woh what a massive fall on the eur/usd.
Did anybody took advantage there?
I had 2 winners and one loser up to now on the g/u along with the e/u.
https://forexintuitive.com/attachmen...1721633643.png
I am in this trade, and have still open EUR/USD (68pips) and EUR/JPY(58pips). I take this trades becouse of the bounce from a weekly pivot on both pairs. But I'm trading on 4H chart. Does anybody know, how much down will this 2 pairs go. Till the Weekly S1 on the 1.2705 (EUR/USD) and till Service line on the 112.174 (EUR/JPY)Quote:
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Regards,
congrats scorpion. Could you give us a pic of your chart so we see exactly what you did?Quote:
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I never tried weekly but im willing to learn more
Below are the charts..in my view I was maybe a bit late, but I am happy also with this 50-60 pips. Here are 4H charts.Quote:
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Any comments of thoose that have more experinces than me...
Regards,
https://forexintuitive.com/attachmen...1188418501.png
https://forexintuitive.com/attachmen...5434197819.png
80pips on EUR/JPY on EUR/USD and 70..should I exit?
Hmm, dont you have your principles for leaving?Quote:
Originally Posted by ;
I can tell you one thing, your own risk/reward appears good. It is I like that, 1:2.
Yes I have rules but becouse I'm not experienced trader, once I see that I have 80-90 pips such as now I thinking of exit before price turn towards me But I decided to wait till my departure signs appear.Quote:
Originally Posted by ;
I also have one question for other traders, it is save enough to exchange when the rebound appear or is better when there's a break up.
Regards,
Fry2010, golden insightmuch clarity here in trading S/R. However, for mepersonally, the important problem is to determine somebody's TF's trend. If I could, How can you judge your fashion?Quote:
Originally Posted by ;