Correct, since that specific pattern provide us where supply/demand changes. But remember, this is not bible for trading, it's only a method I have applied for drawing lines

Drawing correct resistance and support-lines

My purpose for saying that was only meant for daily updates on different pairs This thread is hopefully here to learn how to draw S/R lines. Your highest circle around 210.40 is not perfect. Unfortunately you don't have any valid candlestick ...

Drawing correct resistance and support-lines

When I don't have any clear support as in this 4h downtrend example, it works taking the same angle as your confirmed resistance-line and just put it where you see price reverse. Of course, you will not trade it, but tend to be valid when retested. ...

Drawing correct resistance and support-lines

1. The way you see lines are drawn in this thread is 1 way. Why does it work? Mostly because you have other traders drawing it the same way. And I don't mean only those with 10k $ account. This drawing-method pull lines between where supply/demand ...

Drawing correct resistance and support-lines

Third test on resistance line without a break. Going to test 209.30 - 209.10 area again ?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Unfortunately not, I mostly look on gbp/jpy and cable. As stated at post #1 please feel free to keep us updated on other pairs like eur/usd. That line could have payed off if you went long when price hit down on it. Your also right about trading ...

Drawing correct resistance and support-lines

You almost made me swallow my tongue at the end of your sentence ! Wait and see, pretty sure market will show us whats next

Auslanco - GBP/JPY and GBP/USD (newstrade)

When applying higher lows, Lower lows etc it could pay off to correlate with higher time-frames so your not ending up putting HH on a 15m TF's when it's not, looking on a 4h chart in example. When applied correctly, you could almost use it like the ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

If you just started out, I would first advice you to remove any indicator you don't 100% fully understand. It will only mess your mind up and make you less focused on important issues (at start). Don't worry you will have plenty of time doing ...

Drawing correct resistance and support-lines

Haha do I know that feeling. I don't have the "guts" anymore doing limited orders, fingers still burning after some failing. Market always seems to change in the second my position is executed by entering limited orders.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Islander reminded me of FOMC in approx and 2 1/2 hours so ranging is possible. Ask we speak, price rejects again from currently support-line. A big move is closing up ?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Your welcome. Good luck with your learning-curve

Auslanco - GBP/JPY and GBP/USD (newstrade)

In my opinion

Auslanco - GBP/JPY and GBP/USD (newstrade)

Could turn out quite well if your short gets triggered. Based on the strong resistance we now have, I think we have alot of S/L right beneath your numbers.

Auslanco - GBP/JPY and GBP/USD (newstrade)

EDITING FOR IMPROVEMENTS: If possible, this thread could improve abit if we had some different folks posting different pairs. As I feel we have shown how efficient drawing correct S/R lines can/have been. Like myself, I have gbp/jpy covered, and ...

Drawing correct resistance and support-lines

I'll tell you if support-line breaks

Auslanco - GBP/JPY and GBP/USD (newstrade)

Easy as it gets, profitable too !

Drawing correct resistance and support-lines

Speaking of cable.. was short targeting a rather good fall in the gbp/usd too but got somehow stopped out where you see my S/L target @ the chart. Might be a small spike or something else, feels awful tbh. And looking at the fall makes it ...

Drawing correct resistance and support-lines

Seems logical, price struggle alot to settle at the moment.

Intra Day Yen - Naked

These 2 lines have provided very accurate S/R. Resistance been tested 2 times almost to the pip and support have been tested 3 times almost to the pip, which could mean a breakout from this lines could provide massive moves. IMO

Auslanco - GBP/JPY and GBP/USD (newstrade)