How to use Support and Resistance Effectively - page 37
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Wow this is SO interesting for me thank you guys,since I'm kinda newbie in trading.I use those indicators posted already to make a manual system for intraday use.
Last chart for today, but I found this very interesting. I bet Bubble knew where the dollar was going yesterday.
Look how the resistance becomes support lines stopped the huge movements on the Cable. Coincidence.........I don't think so.
Looking at the recent peak I notice that it's higher than it's predecessor, this must mean something and I guess only bubble knows what will happen. Start of a sideways channel. Any ideas anyone? Oh and I guess if that last candle closes below that purple support line then the direction is down.
Please come back Bubble.Quick look at your chart long term is definately bullish. The medium term bearish. So in my opinion you would be looking at short entries selling into resistance. After the bounce off that strong support you have to say more weakness is expected.
Why not post a chart on the 4hr and 1hr.(i would but i can't upload my oanda, if anyone knows how...) draw support and resistance and we all can have a look at it. See how you could play it according to whats been learnt on this thread.
It would be a real shame if all the effort done by Bubble goes to waste. You can't expect to be spoon fed if you want to be successful in trading, you have to put some effort in. Not having a go at you by the way this is directed at everbody.
Hi Dave,
thanks for the reply. It will be interesting to see what happens.
Keep posting charts and theories up for debate folks, it's the only way we will learn.
Thanks again Dave.
Hi Speres,
thanks for your reply, very helpful. I have posted the 1hr and 4hr charts. They indicate a couple of nice trades. Hindsight is a great thing, I missed them both. lol.
If I have got it right they do indeed show the new resistance to be at about 19873, the previous support level, as shown. Fascinating.
Come back bubble. Have a great Sunday folks.
just to keep up with u guys.
bubble,
Hope u can give a comment base on a chart below. My prediction, there will be a good short 50+pips trade for today. But my instict tell me that u will not agree with me
). Thanks in advance.
Hi Speres,
thanks for your reply, very helpful. I have posted the 1hr and 4hr charts. They indicate a couple of nice trades. Hindsight is a great thing, I missed them both. lol.
If I have got it right they do indeed show the new resistance to be at about 19873, the previous support level, as shown. Fascinating.
Come back bubble. Have a great Sunday folks.You can see from way back on the dailys that level you pointed out is strong
res-supp. Well spotted. There was another one a few days before at the 2.0155 level that would have been a great play.
anyone know how i can upload some Oanda charts???
Hi Speres,
when you reply to this post, scroll down a little to "additional options", click "manage attachments", browse your hard drive for the chart you want to post, click "upload"
that should do it.
Hi Speres,
when you reply to this post, scroll down a little to "additional options", click "manage attachments", browse your hard drive for the chart you want to post, click "upload"
that should do it.the problem ive got is i cant save oanda charts to my hard drive.
Great idea about the chat room ....
the problem ive got is i cant save oanda charts to my hard drive. Great idea about the chat room ....
There is an excellent screen capture program (freeware) called MWSnap at Mirek's Free Windows Software