I almost forgot that I'm bearish on gbp/jpy.. Please take that analyze lightly, it was drawn from a over-tired guy who have been staring at the screen too long now lol
Measure twice, cut once
Drawing Correct Trendlines 58 replies
Drawing Gann Grid in mt4, the correct way 3 replies
Drawing correct S/R and pivot 8 replies
Drawing Objects vs Drawing lines 1 reply
Drawing support and resistance lines 4 replies
DislikedI almost forgot that I'm bearish on gbp/jpy.. Please take that analyze lightly, it was drawn from a over-tired guy who have been staring at the screen too long now lolIgnored
Dislikedand also the UJ is above pivot. if the support holds true, we gonna see UJ goes up and taking GJ up to. am i right abt this?Ignored
DislikedPossible, but seems like we have more fuzz about the The Northern Rock scandal coming up tomorrow, in that case, it will pull both usd/jpy down.Ignored
Dislikedhi Adeiaz1 and all fellow traders out there!
i've a question in mind here regarding drawing trendlines. most of the educational sources on the web suggest that trendline are drawn on the shadows instead of the close of price. however one book that i've read "Trading for a Living" suggest that trendline should be drawn on the close of price. As my trading experience is few, i'm not able to judge whether which is the proper way of drawing trendline. i hope u all can help answer my question and solve my confusion.
1)Which is the correct way of drawing trendline and why?
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YunaIgnored
Disliked...
Your right, stay of out ranging markets, sometimes I have experienced price just to walk tru S/R without any reaction.Ignored
DislikedWhen I don't have any clear support as in this 4h downtrend example, it works taking the same angle as your confirmed resistance-line and just put it where you see price reverse. Of course, you will not trade it, but tend to be valid when retested. Easiest way of doing this is : double-click your line (so it get marked by 3 dots) and press Ctrl bottom and drag it down to your spot. Same angle achieved !
Example of wrong and right drawn lines.Ignored
DislikedPossible, but seems like we have more fuzz about the The Northern Rock scandal coming up tomorrow, in that case, it will pull both usd/jpy down.Ignored
Dislikedaediaz1, can u update for GU? i had weird trendlines on my chart.
which one is the correct one? the dotted or the other?
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DislikedNoticed that you are using channels too... Fibo channels are nice, esp on longer tfs, and you can easily modify them as you like.
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DislikedAediaz1 When it crosses the trend line i am targeting the 50%fib at 211.31.
I work on 4H but my entry is normally 1H or lower. and re-asses from there.Ignored
DislikedDon't trade gu that much, so that was just an example. Long on geppy, small though, watching for good next entry.Ignored
DislikedUsd/jpy didn't turn out too bad, did you have any position on it Mark ?Ignored