How to use Support and Resistance Effectively - page 24
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check the post number again, 257 is a reply by me to downunderdave
if its the post i think you mean check my previous reply to you as i put an amendment to your response.
bubbleWay to go bubble! I like your approach. Yes, guys and gals, you have to do a lot of reading, rereading, and understanding. This is not a very long thread by no means. That would be time in addition to studying real time and historical data. For sure it will not come that easy to anyone overnight.
bubble, I truly appreciate you continuing this thread on this very important subject. Some of our members are making good use of it in their day to day trading. Keep up the good work.
ENJOY!
fxcruiser
Whoops
check the post number again, 257 is a reply by me to downunderdave
if its the post i think you mean check my previous reply to you as i put an amendment to your response.
bubbleHi Bubble,
Sorry 'bout that.
I am meaning post #278 which refers to #276.
Wanted to follow it through and got hang up on a number (lol)
Which still seems to be the case!!!
thanks again for your help.
mairangi
Thanks
Hi Bubble
Just wanted to share that after learning from your thread, I have started making live profitable trades without using any indicators or oscilators. The uncetainity and nervesness is out of trading. If I am wrong I would no and be out of trade with small los, if I am right then just wait patiently to hit the profit target. Thank you very much.May God give you the best rewards for all of your good work.
samso
It's like a Trading Strategies reunion around here with Steveshutts and Anna Maria posting - I hope you're both well.
You can keep all your charts that look like Picasso masterpieces - a nice clean chart with the odd line here or there is the key.
You've got a quality thread going here bubble, long may it continue sir!!
Chris
Nice E-Mini SP 500 trade
Hi Bubble, thanks again for this brilliant thread and all of your help and everyone else whos contributing to this thread of course.
I spent quite alot of time yesterday watching the SP500 index, applying all of your rules to spot the trend change, Lower highs and lower lows etc, moving between time frames.
Boy what a result. I'm sure it did pretty much what your S/R methods predicted.
Two trades both with targets safely within the previous lows. What do you think Bubble, were they good or did I miss something and just get lucky
.
I've traded the sp500 live in the past with mixed results, your S/R method really helps Bubble thanks.
Gbpyen Short
Hi Bubble,
Here is my Gbpyen short trade from earlier today. I'm showing 15 minute chart cause it's easier to see the bounces off resistance line. Price is bouncing off the resistance @ 246.88 goes down touches the support line @ 246.35 and when it bounces up to the resistance line I enter short @ 246.66 (purple line). I exited at 246.20 (lower purple line). Of course, looking at this in hindsight the price went down another 120 pips so I should have stayed in the short position and just trailed my stop. The gbpyen moves quickly so how do you determine where you place your trailing stop?
Made 20 pips on AUD/USD yesterday. Risky trade, but was ok for a quick profit... :=)
Hi bubble
Thank you for the reply. Definitely learning never ends, that's why I check your thread atleast three times a day.
Thanks again
samso
Quiet here today.
Hi Gang,
I guess everyone's too busy making pips using Bubbles great advice.
There have been some amazing opportunities for trades today.
I don't want to hog the thread so won't post them unless you think they would be of benefit Bubble.
Thanks again Bubble et al. I hope you're all having a profitable day.
Buy or Sell?
How does one know whether to take a long position or a short position on a currency pair? Let's say I want to trade 15/60/4 hr. So I would look at 4 hr and see if it broke support or resistance. If it just broke resistance = BUY, now I look at the 60, if it just broke resistance = BUY, now I look at 15 min, if it just broke resistance = BUY.
So does it have to all match on 3 timeframes for one to BUY when it retraces back to the now support line?
Your input would be much appreciated.
Thank you.