How to use Support and Resistance Effectively - page 48
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Peaks and troughs pdf
Hi,
No that one. But got it on post #353. Take a look, very interesting!!!
It was sent by flfx.
Thanks anyway.
Songojan
S/R Auto Trendline Plotter
I've been working on a custom indicator to plot trendlines... still beta, not perfect.
Stochastic
Some Stochastic which I found.
Support & Resistance Audio Alert (Sound)
I put together a simple support resistance indicator that gives audio alerts when price either penetrates an s/r level or closes above/below. It automatically puts two lines on that you simply move to the appropriate places you want the alarm to sound.
As I say it's simple but useful. Hopefully some others will be able to benefit from it too.
Enjoy!
Lux
PS: I've included some of the sound files i use too so you can change the alert sound as you wish. Simpsons, Family Guy and various other annoying/fun sounds.
....
Hi, luxinterior!
How do you define support or resistance levels?
What additional signals do you use to start trading?
Do you use DJ levels as your support or resistance levels?
Support and resistance, trade naked with them!
Hi all, i just want to discuss a simple strategy (absolutely not new, to everybody i think), anyway very good i think.
Well, let's start to talk about support and resistance as how i see them!
In the market, there are as you know points of support what happen when price touch them?
It happen one of these two things:
1) When price touch/break a support point, experienced buyers start to buy, and experienced sellers close their sell position and start to buy them too, in this case the price give a fast up-move, to escape from the support.
Same happen for resistance, but just the inverse.
2) When price is touch/break a support point, i don't know what exactly happen in "an hypotetical PIT", anyway it happen that support become resistance, and act as a REAL resistance, giving a fast down-move to the price.
Now, what i want to do, is open trades only when one of these two things happen, but.. how to recognize which one of two will happen?
I've done a screenshot to let you better understand what i'm talking about, i hope it is clear to understand!
Do you have any suggestion? Any method to filter some bad trades (if u look the image, u see that the bad-ones can be a good ones too, if able to identify the fact that "that" support point is a STRONG support point, and will not become resistance when breaked of some pips, and inverse for resistances.)
I will continue to study for find a good filter, anyway, i'm seriously looking for some suggestion about it, anything and anybody is welcome, tnx for reading
Hi, thank you for your reply, i'm starting to really unerstand how forex work too, eheh
I think we are in channel, wait for break out and re-test of upper or lower S/R channel.
I get your point.. and with the image itself, i could see how the channels react when there's a breakout..