How to use Support and Resistance Effectively - page 36

[Sundowner]

Thanks for sharing these documents guys...much appreciated.

Cheers

[fxitfx]

I've been following this thread from the start, without contributing, merely taking it in with much gratitute. I've saved what I thought were the important parts in the attached file - just about all of Bubbles comments & charts.

Bubble - this was very generous of you to share with us, and I'm sorry you were offended. This was a great shame. However, for those who would like it I've attached my saved file.

Thanks again Bubble.

[sublimeonskunk]

Could someone post that blank indicator again?

[Sundowner]

Sure thing.

Hey Bubble,

If you should drop by, I think I am starting to see S/R somewhat. Here's a chart anyway...As usual, it may be incorrect, but it's a start.

Thanks for this thread.

Cheers

[kuky969]

Sundowner:
Sure thing.

Hey Bubble,

If you should drop by, I think I am starting to see S/R somewhat. Here's a chart anyway...As usual, it may be incorrect, but it's a start.

Thanks for this thread.

Cheers

Hi Sunowner

my opinion is below --a little different--but I think Entry is good

[fxcruiser]

bubble:
How to use support and resistance effectively and take your trading to a new level.

I have been a member of this forum since the very early days and an active trader for some years now.

Amongst others things being a member of this forum has helped pass the time whilst monitoring any active trades and waiting for trading opportunities to arise.

During my time as a member of this forum i have on occassions participated in some threads but have preffered to take a more stand off approach ,the reason for this being that i try not to let any outside influences detract from my real job of trading.

I decided to start this thread to show you all an approach that most are lacking in knowldege the main reason being that there is not enough information available on the internet or even in books.

I think a lot of members on this forum are constantly searching for the next great system, indicator ,etc, if thats what your looking for then this thread wont be for you .

Well start with the basics move on to chart examples and then go on to some more advanced techniques that are not available any where else.

I will show you how with the techniques that i have developed you would of been able take all of the recent short move in the GBPUSD and EURUSD.

Infact im suprised that all the great signal sellers on this forum did not spot this opportunity.

The first thing i would ask you to do if you wish to participate in this thread is to do a google search on s/r to get a feel for the basics ,sites such as investopia will give you enough info to be able to participate, all of the trades will be taken from the hourly chart using the higher timeframes for confirmation techniques and the lower charsts for entry techniques,take some time over the weekend and start with the hourly charts mark some peaks and troughs and see how they interact with the higher charts, dont use any indicators.

bubble

bubble,

Very interesting co-incidence, I was just discussing earlier with another trader/friend of mine the importance of time period based highs and lows, how it can help in detecting potential turning point in a given trend for a particular pair. These co-incidentally again form the peaks and the troughs. Anyhow, you are the expert in this area and I will be anxiously following your thread here.

I appreciate all your contributions in the forum.

ENJOY!

fxcruiser

[XKR1962]

Using support & resistance to help understand things

Hi Guys,

what an exciting time in the markets. If you listen to the fundamentals, news and all the so called experts it's scary, but thanks to bubbles teaching it puts everything in a whole new perspective for me.

Look at this diagram for the Dow. Daily time frame. It was interesting watching it stall at various old support levels, break through and head down to the next.

I wonder if that last hammer is the end of it, or will it go down to the next major support level, 12250. If it closes below that I guess the next stop is 11950 ish.

Thanks again Bubble.

[XKR1962]

Sp500

Just another observation.

[XKR1962]

The power of SBR and RBS lines

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.

[downunderdave40]

Confirmation

XKR1962:
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.

Hi XKR,

I would be looking for a bounce off the purple line to go higher. But, if the purple line is broken...you may get a change in trend direction if the red support line is touched, price comes back up and retests the purple line (which now becomes resistance) and heads back down. At least that is the way I read the Martin Pring Document.

Remember:

Buyers ..buy at support

Sellers...sell at resistance

Dave