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aediaz1 replied Feb 14, 2008I like your charts Mark, Your right about pivots , they can be useful guidance and magnets for the price. I use London session pivots on my 15m charts. Anyway, I'm holding any analyzes until Trade Balance news from US is over. Doubt we will see too ...
Drawing correct resistance and support-lines
- aediaz1 replied Feb 14, 2008
Look at usd/chf. Faced massive selloff.
Drawing correct resistance and support-lines
- aediaz1 replied Feb 14, 2008
The reason why you get big bars around this areas, is because you have alot of orders pending both ways. Then you know you had a valid line. Not necessarily whipsawing, but rather a good candle-stick pattern (2 red bars, a hammer then to green bars) ...
Drawing correct resistance and support-lines
- aediaz1 replied Feb 14, 2008
Possible scenario, but anything can happen today.
Drawing correct resistance and support-lines
- aediaz1 replied Feb 14, 2008
Usd/chf. Had a little bounce of this support.
Drawing correct resistance and support-lines
- aediaz1 replied Feb 14, 2008
Woke up too late for the eur/usd.
Drawing correct resistance and support-lines
- aediaz1 replied Feb 14, 2008
So far so good on the cable
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
Good question, talking of retracement I have put up a fibo on the 1h chart, and cable have done the famous 50% retracment so technically speaking we are looking bullish for now. Drawn a new wedge on 1h, not 101% ideal as you see in the blue circle. ...
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
Update on usd/chf if some are interested. Bullish channel we are in now, lets see what London session can do with it.
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
Well said, nice input for this thread.
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
Usd/cad. Long-term down but we have a support-line here if next bar is green too Edit: Being too eager drawing lines could be fatal as shown on the chart below
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
Wrote +40 first, by the time I have pressed "post" it was +60. Absolutely, when I first started out trading I used about 4-8 indicators on my charts. It was a complete mess ! Keep it simple, learn technics in the right order; Support/resistance ...
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
Been following guppy, and we have a breakout on the 15m. Nice short-term entry at the start of new 15m candle formed above resistance-line. Edit: Fast +60 pip. See how simple you can keep trading when applying right tools ?Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
And we also know that CHF goes opposite of eur/usd. We have strong resistance @ 30m chart. Take a look
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
Looks like we are forming a new line on eur/usd. 3mins left on this bar.
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
No problem, don't we all just love trying new indicators
But for beginners I would, as sayed before, draw manual to learn it.Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
Thank you RichD, and for you attached indicators I'll try them out !
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
I would recommend higher time-frames if you are new. Lower time-frames can be very choppy, and this trend-lines are more reliable in higher times-frames. Also, try remove your automatic drawing-indicator , it could be nice training for you to apply ...
Drawing correct resistance and support-lines
- aediaz1 replied Feb 13, 2008
4H on cable. Possible bullish wedge which can be tested sometime this week. Let's see how it plays out.
Drawing correct resistance and support-lines