cdavis5766 Posted September 2, 2009 Report Share Posted September 2, 2009 Re: How to accurately draw support & resistance line ??? I find the easiest way to draw support resistance lines is from a weekly time frame. Pull up a weekly chart draw a horizontal line at all the obvious stopping points. If you go back ten years or so you will see the same points act as support and resistance over and over again. Quote Link to comment Share on other sites More sharing options...
sam_konna Posted September 6, 2009 Report Share Posted September 6, 2009 Re: How to accurately draw support & resistance line ??? Last time i saw the thread about FIBONACCI GRID but now its missing and i cannot find them now, seems it can be good to determine Horizontal Support & Resistance. Anybody know where is the location those thread now, please ? Quote Link to comment Share on other sites More sharing options...
fx2248 Posted September 7, 2009 Report Share Posted September 7, 2009 Re: How to accurately draw support & resistance line ??? I draw my S&R lines based on Highs and lows from the 4 hr chart. Accuracy is not critical as often one sees the price go through the S or R line before stopping and retracing. Take profit before the S&R lines say about 5-10 pips for safety. Quote Link to comment Share on other sites More sharing options...
jsonc Posted September 7, 2009 Report Share Posted September 7, 2009 Re: How to draw trendlines it crash my mt4 terminal 3x. i think he has a demo, which expired, and a commercial version, don't know the $. they're both upgrades of the version in the previous post. i think the only difference in the demo and commercial is the expiration. does any1 have the commercial version? Quote Link to comment Share on other sites More sharing options...
jsonc Posted September 8, 2009 Report Share Posted September 8, 2009 Re: How to draw trendlines found another(?) version of this trendline. it has only the .ex4 and a manual in pdf. some1 may have modified it, the email in the indicator is different from the pdf. don't know what else is modified. http://www.4shared.com/file/97949948/41f369eb/Wave_Auto_Trend_Line.html Quote Link to comment Share on other sites More sharing options...
learningfx Posted September 8, 2009 Author Report Share Posted September 8, 2009 Re: How to accurately draw support & resistance line ??? Hi, From some book & articles that I read. Some use line chart to draw as it much easy to see the S&R using line chart. Some even use the closing, not the high or low. Just for reference & discussion only. Quote Link to comment Share on other sites More sharing options...
iwanlagi Posted September 8, 2009 Report Share Posted September 8, 2009 Re: How to accurately draw support & resistance line ??? the fundamental of support line is longger the support line = stronger the support Quote Link to comment Share on other sites More sharing options...
sam_konna Posted September 8, 2009 Report Share Posted September 8, 2009 Re: How to accurately draw support & resistance line ??? FIBONACHI GRID Support & Resistance http://img188.imageshack.us/img188/1424/12709671.gif http://img41.imageshack.us/img41/3892/fib1000.png http://img186.imageshack.us/img186/2263/fibo500anp.png http://img44.imageshack.us/img44/2866/gufibgrid.gif Seems looks good & more easier to draw & to found , but i need someone help me to lead to the thread (Fibonacci Grid) at this forum, please. Thanks before.   :-bd Quote Link to comment Share on other sites More sharing options...
learningfx Posted September 10, 2009 Author Report Share Posted September 10, 2009 How to trade using support & resistance line ? Hi, Any experts or guru who trade using Support or Resistance(S/R), please kindly give some advise as I often have these issues 1) fake breakout, that trigger my stop loss 2) price will breakout and retest the S/R line again. Often, I will try to trade based on S/R with pattern setup, but often get killed by the retesting of the S/R by price again. I using indicator like stochastic but still not able to get good result. Any good method to solve this issue. Thank you ^:)^ Quote Link to comment Share on other sites More sharing options...
thesecret Posted September 10, 2009 Report Share Posted September 10, 2009 Re: How to trade using support & resistance line ? Look for candlestick patterns near/on/over/below supp/ress lines. Forget indicators, they are laging=lying, price action is the key. http://www.myfxidea.com/html/strongsingal.html Quote Link to comment Share on other sites More sharing options...
sam_konna Posted September 11, 2009 Report Share Posted September 11, 2009 Re: How to accurately draw support & resistance line ??? FIBONACHI GRID Support & Resistance http://img188.imageshack.us/img188/1424/12709671.gif http://img41.imageshack.us/img41/3892/fib1000.png http://img186.imageshack.us/img186/2263/fibo500anp.png http://img44.imageshack.us/img44/2866/gufibgrid.gif  Please Mods; lead me to the thread FIBONACCI GRID, i have lost those thread.  [-O< Quote Link to comment Share on other sites More sharing options...
ssg10 Posted September 15, 2009 Report Share Posted September 15, 2009 Re: How to trade using support & resistance line ? I trade support/resistance, trendlines and basic channels... What I can say is there is no magic indicator that can help precise entry without being stopped out. The better one is MACD divergence on double top or double bottom. MAke sure it is a perfect V or inverse V price pattern. If not, don't force it.  The most important is your screen time. The more you watch and "feel" the price, the better you will. There is no shortcut --- it can take over years to get it. Quote Link to comment Share on other sites More sharing options...
neithan Posted October 7, 2009 Report Share Posted October 7, 2009 Re: How to trade using support & resistance line ? You may want to look at volume too. If there is big jump in volume size, that may mean that people do not trust the trend and it may change. Quote Link to comment Share on other sites More sharing options...
learningfx Posted October 7, 2009 Author Report Share Posted October 7, 2009 Re: How to trade using support & resistance line ? Hi neithan, How do you look at volume in fx, any good way or method to share with us all ? Thank you Quote Link to comment Share on other sites More sharing options...
pasavento Posted October 7, 2009 Report Share Posted October 7, 2009 Re: How to trade using support & resistance line ? If i have the 'time tunnel' machine and go back at the time i started to learn forex, support and resistence is the first thing i will major in charting analysis....  no step of stone rules to trade the snr, overtime its ur gut feelings will lead u... my 2 cents :) Quote Link to comment Share on other sites More sharing options...
alfawoong Posted October 8, 2009 Report Share Posted October 8, 2009 Re: How to trade using support & resistance line ? For less aggressive play, it's less riskier by waiting for a retracement back to the support/resistance level and observe whether there's any pent up demand... and then participate in the move if there are no pressure.. Quote Link to comment Share on other sites More sharing options...
thesecret Posted October 8, 2009 Report Share Posted October 8, 2009 Re: How to trade using support & resistance line ? Here is all u need to know -http://www.chartsecret.com/category/category/trading-articles trduraikamaraj 1 Quote Link to comment Share on other sites More sharing options...
Gambler67 Posted October 9, 2009 Report Share Posted October 9, 2009 Re: How to trade using support & resistance line ? i thinkwhat is most important in trading is volume. Without volume there is not high probability turning pt. setup Quote Link to comment Share on other sites More sharing options...
bgtrader Posted October 10, 2009 Report Share Posted October 10, 2009 Re: How to trade using support & resistance line ? Hi everyone, I had some ideas to share about support and resistance: a) volume is one of the magic data points that really brings the probabilities further in our favor when analyzing support & resistance. probably most of you all know that 'tick' volume is available from most forex data feeds (Esignal has a really good one aggregating 200+ bank's forex ticks). while it's not true lot volume traded, the amount of ticks per given time period can be seen as 'activity', when there's more activity professionals are interested. when there's less activity, most professionals are not very interested in those prices. there's an art to interpreting these degrees of professional interest in prices via volume & using that to triangulate with support & resistance. some of the basic ideas are: 1. if prices are 'cheap' in the eyes of the big players that move the markets, often when prices are continuing to head down at this 'cheap' level of support one might see tick volume less as the bars go down,indicating that professionals are not interested in lower prices 1a. however, very often professionals, sensing that other market participants are interested in lower prices, will move the bids lower to buy at cheaper prices, in a way sucking the public in to sell. the turning points of these situations often see ultra high tick volume and can occur around bad news numbers. Support and resistance, prior levels, etc....can give us a forecasted zone to be looking for this kind of volume activity 2. often in the sequence of support becoming the spring board for higher prices, we'll see ultra high climactic tick volume as price touches & sometimes breaches support by a little, but closes in the middle to high end of the range; next very often when the professionals truly want to take the market up, we'll see price attempt to go down again to support-in a sense testing whether the sellers have lost interest-often this test will be on lower tick volume, indicating that the professionals are not interested in taking the market lower...this will all be happening right around support. 3. then, if we really are in a rise from support sequence, often we'll see a sudden push upward away from support in price on decent tick volume, as if many professional groups all at once realized that there was a 75% off sale on socks. often the volume & support/resistance trader will miss that entry and enter on a retest of the rising slope trend line that could be respected in this hypothetical move up 4. then at resistance, we might see price approaching resistance, maybe ready to stop and turn around, maybe ready to just pause and congest for a while. but often as prices become 'expensive' near resistance, tick volume might dry up a little. 4a. another common scenario is the opposite of the climactic ultra high volume at support. we'll sometimes see very positive news/numbers coming out, prices will surge toward resistance on ultra high tick volume, and prices will close in the middle to lower end of range on a fairly wide range (same at bottom climactic at support,often with fairly wide range), indicating perhaps that professionals knew they wanted to take the market down, but were using the euphoria of the public's buying on good news to enter the market short at much better prices ---alot of this material comes from the pdfs of Richard D. Wyckoff, Hank Pruden, Tom Williams, and Todd Krueger.... ----sorry, if this was boring and you guys already know all this stuff. -live long and prosper \\//, :)>- Quote Link to comment Share on other sites More sharing options...
sustainablegrowth Posted October 19, 2009 Report Share Posted October 19, 2009 Re: How to draw support & resistance line yes please lead me to the fibonacchi grid :(( Quote Link to comment Share on other sites More sharing options...
cashflow08 Posted October 24, 2009 Report Share Posted October 24, 2009 Re: How to draw support & resistance line Hi friends Ive recently started to go more in depth with horzontal s/r lines but sometimes or most of the times, the s/r lines become clustered togther and its impossible to predict where exactly the price would bounce off from. I'm willing to learn on what Im doing wrong. Thanks Quote Link to comment Share on other sites More sharing options...
opensourcefx Posted October 26, 2009 Report Share Posted October 26, 2009 Re: How to draw support & resistance line Hi , Trader   just used this indicator   >>>>> Auto Trendline ! http://www.mediafire.com/?dnzzonygmiq Quote Link to comment Share on other sites More sharing options...
HILL5 Posted October 30, 2009 Report Share Posted October 30, 2009 AUTO-TREND-LINE.ex4. Could someone pls share the updated version of attached indicator, i think it has expired. the name of the indicator is AUTO-TREND-LINE.ex4. Thanks for your help. Quote Link to comment Share on other sites More sharing options...
syk1kz Posted October 30, 2009 Report Share Posted October 30, 2009 Re: How to draw support & resistance line i am no coder or anything but looking at the code i get the feeling if you simply comment 1 line out you can get it working again.   if (ChecarValidadeConta(0, gi_76, gi_80, gs_84)) return (0); i edited this line incase anybody is wondering, i get the feeling this is calling the check to see if the time has passed, the other option would be to simply reverse the file to mq4 then search for 2009 and replace it with 2090 or something then save the file and reload it into MT4 i cant test this currently but here is a modified version, let me know if it works or not http://sharebee.com/750d4e83  here is a working one but i dont know if its any good http://tinyurl.com/ygtg4gz Quote Link to comment Share on other sites More sharing options...
HILL5 Posted October 31, 2009 Report Share Posted October 31, 2009 Re: How to draw support & resistance line i am no coder or anything but looking at the code i get the feeling if you simply comment 1 line out you can get it working again.   if (ChecarValidadeConta(0, gi_76, gi_80, gs_84)) return (0); i edited this line incase anybody is wondering, i get the feeling this is calling the check to see if the time has passed, the other option would be to simply reverse the file to mq4 then search for 2009 and replace it with 2090 or something then save the file and reload it into MT4 i cant test this currently but here is a modified version, let me know if it works or not http://sharebee.com/750d4e83  here is a working one but i dont know if its any good http://tinyurl.com/ygtg4gzHi syk1kz, thanks for your help, could u pls reload fill (AUTO-TREND-LINE.mq4). thanks. Quote Link to comment Share on other sites More sharing options...
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