fxstory:
one easy way to draw a support and resistance line is to use the line chart.then draw it on the high or low of the lines.this way, it eliminates the wicks shadow lines if drawn.many people makes the mistake of drawing the line at every wick shadows which is wrong.one way i draw mine is to use the line chart.this is just one of the simple secret many traders use to draw a good support and resistance line

someone should pay attention to this simple but very powerful tip.

Well done

elyte:
#EURUSD

This market has for long crashed down. I am one of the people waiting for a turn. With the completion of the long term bearish correction, price is expected to move up. A trigger is needed and it seems we have now.



From the weekly chart I have below shows the wave analysis from the beginning of this millenium 2000till date, during which we have a five wave impulsive move followed by a zigzag corrective patter. The B leg of of this zigzag is a triangle formation. Triangles are known to usually precede the end of a run. Price broke out massively in a trendy impulsive move ( this can be seen clearly on the daily chart). The C leg of the zigzag completes a 100% extension of A leg from B leg which is a very typical fibonacci relationship in zigzag corrections. Price is expected to turn from here to 1.1800 resistance, 1.2600-1.3000 ( breakpoint retest of the triangle) and if the long term bullish trend resumes, price go higher and higher.

Always check www.forexsnipper..com for updates

Meanwhile, there's a bullish reversal candle pattern at the end of the impulsive sell supply channel just after the extrapolated bungaga bungaga haa haa.
#JustKiddinBro
#GreatJobThere

pinbar:


i think the bullish party has just started for GJ, it started with the pinbar in 1hr, next another pinbar formed in 4hr hours, and now daily has formed its own pinbar.... , i expect a pull back and a major bullish continuation......

Mehn.... they just released this hungry bulls o.

you know what to do if the pin bar is comfirmed

Sentiment for Gold has turned bullish for me. Will be buying dips only until 1140 (sell zone at the time of writing) is taken out on my chart.

fxstory:
one easy way to draw a support and resistance line is to use the line chart.then draw it on the high or low of the lines.this way, it eliminates the wicks shadow lines if drawn.many people makes the mistake of drawing the line at every wick shadows which is wrong.one way i draw mine is to use the line chart.this is just one of the simple secret many traders use to draw a good support and resistance line

Yes it is good to learn to draw with line charts but one should fine tune with either bar/candle charts as line charts are based on closes and often ignore pivot lows and highs.

@ Thread, bought GJ again at 17894, bought gold at 1163

I must confess yall are doing a great Job. Been watching charts and the thread since before FOMC natruetalk that your trade make sense oooh #Respect. Yall have a good day.

just passing.

On d hourly chart, i believe gold got one plan to d downside @ 1153/55 to pick some passengers.

if d weekly xhart of GJ plays well, mission 165.xx is possible ( long term with 900 pips stp)

mutik1977:
just passing.

On d hourly chart, i believe gold got one plan to d downside @ 1153/55 to pick some passengers.

if d weekly xhart of GJ plays well, mission 165.xx is possible ( long term with 900 pips stp)

50Likes

my buy limit on AU & NU picked. its doing fine nw, lets see hw it goes

naijababe:


Yes it is good to learn to draw with line charts but one should fine tune with either bar/candle charts as line charts are based on closes and often ignore pivot lows and highs.

@ Thread, bought GJ again at 17894, bought gold at 1163

yes, you draw on line chart and adjust it on the candlestick chart.but one must also know that it is not all the high and low wick (shadows that must be connected to the support and resistance line ).it can cross a wick and candle body.also, every traders can not draw exactly same support and resistance line but wll near close to the zone.its more of a zone and not a line.

Make I waka abeg! E be like the trades I missed yesterday are colouring my decision making.

Patience is a virtue

Gold must move in JESUS name!

pinbar:


you know what to do if the pin bar is comfirmed

this BOE GUY has spoilt this trade was not around to put my SL to BE
VERY ANNOYING
DEY JUST DEY TALK ANYHOW
MCCHTEWWWW

Got around $250 Perfect Money for sale.
If interested. Send me a pm. Cost price is N230 per 1.
Thanks

fxstory:
yes, you draw on line chart and adjust it on the candlestick chart.but one must also know that it is not all the high and low wick (shadows that must be connected to the support and resistance line ).it can cross a wick and candle body.also, every traders can not draw exactly same support and resistance line but wll near close to the zone.its more of a zone and not a line.

Pls wer can you see d line chart. I just check d my chart bt can't locate the line chart.

While we are on the issue of support and resistance.. There is one strategy I use to trade currencies.

It involves using the daily pivot and placing limit orders at support 1 and Resistance 1.

You don't need to do any calculations. Any autopivot indicator can solve this problem. Just apply it, set your buy limit at support 1 and sell limit at resistance 1 add a 30-50 pip stop loss and a 100 pip TP. Don't use autopivot indicators that count Sunday candles please.

To be sure your indicator works fine, check the values with a manual pivot calculator especially on Mondays. They can be found all over the web.

If you have time to watch your charts, you can avoid using limit orders and simply watch for reversal candles around these areas on lower timeframes.

The benefit is that it is low risk. It can also keep you out of the market when there is low volatility. It is also good for medium ranges (which is what happens in the market 70% of the time). On the occasions when the market is trending for the day, you'd lose 30-50pips.

Apply this on several pairs on demo and see results at the end of a month.

Just one example. Open a GA chart for today and see the sharp drop that happened as soon as price hit R1.

This is a day trading strategy so you should close all positions at 7pm daily if TP or SL is yet to be hit.

Just thought I should share.

Shevychen2:
While we are on the issue of support and resistance.. There is one strategy I use to trade currencies.

It involves using the daily pivot and placing limit orders at support 1 and Resistance 1.

You don't need to do any calculations. Any autopivot indicator can solve this problem. Just apply it, set your buy limit at support 1 and sell limit at resistance 1 add a 30-50 pip stop loss and a 100 pip TP. Don't use autopivot indicators that count Sunday candles please.

To be sure your indicator works fine, check the values with a manual pivot calculator especially on Mondays. They can be found all over the web.

If you have time to watch your charts, you can avoid using limit orders and simply watch for reversal candles around these areas on lower timeframes.

The benefit is that it is low risk. It can also keep you out of the market when there is low volatility. It is also good for medium ranges (which is what happens in the market 70% of the time). On the occasions when the market is trending for the day, you'd lose 30-50pips.

Apply this on several pairs on demo and see results at the end of a month.

Just one example. Open a GA chart for today and see the sharp drop that happened as soon as price hit R1.

This is a day trading strategy so you should close all positions at 7pm daily if TP or SL is yet to be hit.

Just thought I should share.

On what time frame please.

Buying NZDCAD from here.

just added another sell position to my eurnzd trade at 1.4370
sold audchf at 0.7569
sold usdchf at 0.9896
fridays are known for volatility so i usually don't put tp.
will close manually at end of day
NB: Nothing is guaranteed. Price could just do the opposite and rubbish my analysis

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

frenchman2:
just added another sell position to my eurnzd trade at 1.4370
sold audchf at 0.7569
sold usdchf at 0.9896
fridays are known for volatility so i usually don't put tp.
will close manually at end of day
NB: Nothing is guaranteed. Price could just do the opposite and rubbish my analysis

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

Nice trade calls boss #Respecta. Have a great night rest.

iheanyiebeneze:
If USDJPY comes to 121.10 now or in the next 2hours, BUY at that level. First Take profit is 121.35 and second take profit is 121.50. Stoploss is 100pips
Bring second stoploss to BE as soon as first take profit is hit.

For God‘s sake Boss, help me with your source of signal which you are using to trades. adediran22@gmail.com
Thanks.

saw the need to short oil at 45.52
no exit. will close at end of day

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

maslong:

On what time frame please.

If you want to watch and catch reversals? 15m is best.

Holding a gold buy from 1167. SL is 1157 and target is 1220 or until a reversal appears. You can still get in if you can afford the stop loss.

Bought GJ, three white soldiers on the 4h, remains valid unless 17773 is eclipsed. Sorry no chart

GBP/AUD
BUY @ I.91930
TP @1. 92930
SL @ 1.91430

Good Luck!

natruetalk:


patience pay, I closed my EU yesterday cos of d fomc. it was a good decision

after d fomc hyper settled, i re-enter toward my bias pre-fomc.

Most of d time in forex. tech prevail

chop +165 pips of dis pair yesterday, eyeing to SELL again, d current up move is just a respecta of d yellow zone in my opinion. I expect fat candle 2 break d zone pass soon. watching......

I don't trade news, but I see british pound going the bears way (That's bearish)..

Here is the chart folks, three white soldiers is one of my favourite set-ups. Most times it will deliver no less than 250 pips. I will add to the position once the nearby resistance is cleared.