How to use Support and Resistance Effectively - page 45
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
I am not right man in any systems as I can not know everything. I am learning together with everybody. Regular - may be
And if we see your support/resistance line so the price touched or tried to break this line two times and finally did it.
-------------------------------------------
You're right ND, The price touched it twice and then broke it on third time.
At any rate I'll stay here, It's a good Thread to learn.
Rene
Just for information:
MTF Dynamic Resistance/Support https://www.mql5.com/en/forum/173574
the attached indicator for mt4 uses ZigZag to plot S/R trendlines for User Selectable Timeframes...
Does it use ZigZag ?
You mean the last bars are not stable like ZigZag ?
First, thank you to bubble and anybody that post in this thread, for their valueable and meaningful posts.
Now let me apply this to current chart, and please correct me if I did mistake in drawing s/r
EURUSD H1 shows gap, looks to me as blow-off, price now already break current resistance and in the gap
EURUSD H4 shows no gap, price is in current resistance
How should we interpret this, wait for other confirmation from other trading system ?
My guess would be H4 will dominate the decision, if price bounce back (down), price will hit current support, but if price breaks out (up), price will face 3 minor resistances, so it is waiting moment.
PS. should we draw minor s/r (as different color) ? and how abour spike (1-3 bars) that is false breakout ?could you please tell me what is exactly this indicator ?
Greetings XRK
I notice you are posting a 15 minute chart. Is that your trading chart? Are you find s/r easy to determine on that chat?
It seems to me that Bubble was using peaks for determining support and resistance...is that your understanding? The troughs seem more like guidelines.
Nice trade.
Joined pal talk but work during peak times.
CheersHi Sundowner,
sorry for the late reply. As you know we're all trying to learn Bubbles system in Fxitfx's Paltalk chatroom. Hence we are switching between most tf's from the 5 min to the weekly.
I am happy to take trades in any tf as long as they follow Bubbles rules.
As I understand it peaks and troughs / high and lows both show support and resistance dependent on the direction you are trading, long or short.
Point S/R
Just for information: MTF Dynamic Resistance/Support https://www.mql5.com/en/forum/173574
Dear NewDigital,
Would you mind modify the attached .mq4, As I test, It does not work
in proper as in chart sample 1.
I set the high and low to true on the parameter, but the result is not as suppose to be, I saw some highs of the same levels those suppose to have
lines but the indicator did not draw lines on the YELLOW Lines I draw.
The Indicator draws only the blue horizontal lines, as per chart sample 2.
Please forgive me for saying too much.
You consideration will be appreciated.
Thank You,
Rene
Dear NewDigital,
Would you mind modify the attached .mq4, As I test, It does not work
in proper as in chart sample 1.
I set the high and low to true on the parameter, but the result is not as suppose to be, I saw some highs of the same levels those suppose to have
lines but the indicator did not draw lines on the YELLOW Lines I draw.
The Indicator draws only the blue horizontal lines, as per chart sample 2.
Please forgive me for saying too much.
You consideration will be appreciated.
Thank You,
ReneHi renefx,
It will take long time for me sorry. May be someone will improve it ...
Hi renefx, It will take long time for me sorry. May be someone will improve it ...
Hi ND,
Thank you nd for your time and concern.
No need to say sorry, I certainly understand that.
You're right, maybe someone will be helpful for this.
I know lot of programmers are very selective when it comes
to extend their free time. But who knows the next.
Just Hoping,
Rene
I feel sad reading the last post of the great Trader...
losing my mind
is it my imagination??
are post disappearing ???
wonder what is going on????
poof!!!!