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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 06-11-2007, 11:09 PM
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Quote:
Originally Posted by bubble
Lets move on to ROLE REVERSAL

""Another principle of technical analysis stipulates that support can turn into resistance and visa versa. Once the price breaks below a support level, the broken support level can turn into resistance. The break of support signals that the forces of supply have overcome the forces of demand. Therefore, if the price returns to this level, there is likely to be an increase in supply, and hence resistance.

The other turn of the coin is resistance turning into support. As the price advances above resistance, it signals changes in supply and demand. The breakout above resistance proves that the forces of demand have overwhelmed the forces of supply. If the price returns to this level, there is likely to be an increase in demand and support will be found.""

"" quote from stockcharts.com"

Role reversal can occur during a trend or at a reversal known as a V bottom. or top.
Hi bubble,

Thanks for starting and updating this thread. Finally, after looong time, another thread about REAL trading appeared. I'm anxiously awating your further contributions
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Old 06-11-2007, 11:13 PM
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Quote:
Originally Posted by el cid
here is how a pro trades support and resistance

7 entries on cable with stop loss of 20 and total profit of over 100 pips in 1 day
Hi el cid,

Thanks for this encouraging chart... However I know how I would have traded any chart like a pro when I see it complete... the problem is how to do it with the same results when you don't see to the right of your screen

So how do you determine such entry points in real time?
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Old 06-12-2007, 09:18 AM
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Great Thread!!

Bubble thanks for taking the time to share this great info!!!! I am wondering if I have S/R lines drawn correctly on this chart? Thanks
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Old 06-12-2007, 10:57 AM
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Bubble,
Very good example on the Euro at the moment. It will break but which way? My indicators on the 4hr suggest a bounce how do you trade these situations?

Gordon
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Old 06-12-2007, 02:58 PM
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hi

I used for S&R is camarilla indicator...it's profitable if you know the pattern behaviour near the line


===================
Forex Indicators Collection
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Old 06-12-2007, 09:41 PM
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Hi Bubble,

Eagerly awaiting future installments. I'm a fan of S/R trading but don't practice it currently in my trading. Maybe this will prompt me to start looking into the method. A quick question I have for you:

Do you manually draw out the S/R lines as ranges are established, or do you use one of the S/R indicators that draws them based on pivots? Or do you use both methods?
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Old 06-12-2007, 11:07 PM
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Time Frames

Do you adjust your lines when you back out to a larger time frame and see that it is a little off or do you stick with the 60m.
Thanks again!
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Old 06-13-2007, 01:41 AM
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When you are drawing your support/resistance lines do go by the extreme high or low? Or do you use the close?

When I look at a 1 or 4 hr chart for support, sometimes I notice that there will be several price bars together with long "tails" into previous support...Is this a strong hint of a possible reversal?

Same for resistance...

Also, do you use any pivot sup/res in your trading?
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Old 06-14-2007, 12:00 AM
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Thanks for answering my questions!

I believe that true support/resistance is the way to trade because these are actual prices where price has turned before...Looking forward to more lessons!
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Old 06-14-2007, 11:24 PM
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Hi bubble,

Thanks for your latest posts. Do you think you could be so kind and post some more charts, showing some actual entries and exits? I believe I can determine the S/R levels pretty well but it's not so clear as to how to trade them effectively. I think I can use them very well for exits but not quite so for entries... I just need you to get me on track

If you have a fixed timeline for your lessons in this thread and are going to cover this later, please disregard this post

Thanks very much
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