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View Poll Results: Which Section?
I draw my SR levels by hand 26 63.41%
My SR levels are draw by some indicator 14 34.15%
Other. My answer is not listed above. 1 2.44%
Voters: 41. You may not vote on this poll

 
 
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Old 11-29-2007, 08:44 PM
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Support and resistance, trade naked with them!

Hi all, i just want to discuss a simple strategy (absolutely not new, to everybody i think), anyway very good i think.

Well, let's start to talk about support and resistance as how i see them!

In the market, there are as you know points of support what happen when price touch them?
It happen one of these two things:

1) When price touch/break a support point, experienced buyers start to buy, and experienced sellers close their sell position and start to buy them too, in this case the price give a fast up-move, to escape from the support.
Same happen for resistance, but just the inverse.

2) When price is touch/break a support point, i don't know what exactly happen in "an hypotetical PIT", anyway it happen that support become resistance, and act as a REAL resistance, giving a fast down-move to the price.


Now, what i want to do, is open trades only when one of these two things happen, but.. how to recognize which one of two will happen?

I've done a screenshot to let you better understand what i'm talking about, i hope it is clear to understand!

Do you have any suggestion? Any method to filter some bad trades (if u look the image, u see that the bad-ones can be a good ones too, if able to identify the fact that "that" support point is a STRONG support point, and will not become resistance when breaked of some pips, and inverse for resistances.)

I will continue to study for find a good filter, anyway, i'm seriously looking for some suggestion about it, anything and anybody is welcome, tnx for reading
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Old 12-05-2007, 09:22 PM
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Quote:
Levels of support and resistance – these are some of basic elements of the Forex technical analysis, in accordance with axioms of which
1. From the current price of currency couple there are always levels of
Ŕ ) resistance – higher than currant price
B) support – lower than currant price
2. Penetration of the level shall mean a jump to the next level of resistance/support
3. Failure to penetrate (or false penetration) of the level causes kickback opposite direction (from resistance to support)

Thus, knowing levels of resistance / support and criteria of the true and false penetration, a trader can accurately open deals, operating from one level of resistance / support to the next level
In more details about it you can read there.
I'm studing this trade system and it's very profitable one for me.
Just now I start to understand what is Forex...
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In advance thanks, Edwards.
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Old 12-05-2007, 09:35 PM
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Hi, thank you for your reply, i'm starting to really unerstand how forex work too, eheh
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Old 12-08-2007, 01:47 AM
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Quote:
Originally Posted by mas0n View Post
I think we are in channel, wait for break out and re-test of upper or lower S/R channel.
I get your point.. and with the image itself, i could see how the channels react when there's a breakout..
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Old 12-21-2007, 12:17 AM
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Whats happened to Bubbles posts?

Hi,
I just began reading this thread after a fellow member recommended it to me. It seems like i'm rather late. I noticed that some posts are refering to what bubble said previously, but I can not find his posts in the thread. What happened to his posts? I wanted to learn this trading method.

Thanks
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Old 12-21-2007, 04:00 AM
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FXBabe:

Here's a pdf I made from a word document that someone saved and posted earlier in this thread. I can't remember who actually posted it, but it was quite generous of them. I'm a bit too lazy at the moment to go back and find the post (I think it was in a page in the 40's or so). In any event, they did a great service by compiling this after Bubble erased all his posts. I merely changed the page format and saved it in "landscape" because it was easier to page thru with Adobe Reader on my computer.

Bubble went on to mentor a few folks for a fairly steep price, though I feel certain they probably got their money's worth. In any event, here's the file. Enjoy!

Ed
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Old 12-21-2007, 07:18 PM
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Thumbs up

Quote:
Originally Posted by Boiseboy View Post
FXBabe:

Here's a pdf I made from a word document that someone saved and posted earlier in this thread. I can't remember who actually posted it, but it was quite generous of them. I'm a bit too lazy at the moment to go back and find the post (I think it was in a page in the 40's or so). In any event, they did a great service by compiling this after Bubble erased all his posts. I merely changed the page format and saved it in "landscape" because it was easier to page thru with Adobe Reader on my computer.

Bubble went on to mentor a few folks for a fairly steep price, though I feel certain they probably got their money's worth. In any event, here's the file. Enjoy!

Ed
cheers man
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Old 12-21-2007, 07:31 PM
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Thumbs up

Quote:
Originally Posted by Boiseboy View Post
FXBabe:

Here's a pdf I made from a word document that someone saved and posted earlier in this thread. I can't remember who actually posted it, but it was quite generous of them. I'm a bit too lazy at the moment to go back and find the post (I think it was in a page in the 40's or so). In any event, they did a great service by compiling this after Bubble erased all his posts. I merely changed the page format and saved it in "landscape" because it was easier to page thru with Adobe Reader on my computer.

Bubble went on to mentor a few folks for a fairly steep price, though I feel certain they probably got their money's worth. In any event, here's the file. Enjoy!

Ed
Someone in another post mentioned in another thread that he trade S/R using the bubble system, I guess this may be it. He posted his demo statement using the bubble system, and it was very impressive. Thanks for posting...
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Old 12-21-2007, 07:45 PM
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Thumbs up

Quote:
Originally Posted by Boiseboy View Post
FXBabe:

Here's a pdf I made from a word document that someone saved and posted earlier in this thread. I can't remember who actually posted it, but it was quite generous of them. I'm a bit too lazy at the moment to go back and find the post (I think it was in a page in the 40's or so). In any event, they did a great service by compiling this after Bubble erased all his posts. I merely changed the page format and saved it in "landscape" because it was easier to page thru with Adobe Reader on my computer.

Bubble went on to mentor a few folks for a fairly steep price, though I feel certain they probably got their money's worth. In any event, here's the file. Enjoy!

Ed
cheers man
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Old 12-21-2007, 10:46 PM
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Quote:
Originally Posted by et_phonehome_2 View Post
Someone in another post mentioned in another thread that he trade S/R using the bubble system, I guess this may be it. He posted his demo statement using the bubble system, and it was very impressive. Thanks for posting...
where can i find that post?
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