That’s what my suspicion is. That big GU drop on those particiular days in Sept was BoE jawboning.
Im watching G/U Closely i have a pretty crappy sell right now that I dont wanna close cause the hit…
Thank you.
Well, like all things it has some useful views and strategies but it’s aimed more at stocks. I took a few valuable things away from it but I’ve sold it on 2nd hand now.
John4pips
If you look to my 4h chart you will see the major S/R lines. The two red lines are very strong S/R lines and it will be interesting to see where PA goes in relation to these two red lines. Currently we have equilibrium on the 5m and 15m charts to slightly to the upside (marginal). The 1h chart still looks dangerous for a possible break north? The 4h chart PA looks to be running out of steam or it could just be consolidation in prep for another break north? 
As I say the two red S/R lines I think will be the deciding factor. For a break south we need to see PA break the lower of the two red S/R lines. If not expect PA to move within the two red S/R lines with a possible break north if PA clears the upper red S/R. All as clear as mud! 
Suggest increase word chart to 200% for a clearer view.
Hey guys, got another noob question. I was looking over my charts this morning trying to get myself organized. and I realized I don’t have S/R Lines drawn. Im guessing you guys all draw them do you have any tips or pictures that would help me? And also. The PA…Where is it? lol
Thanks guys
Mike G =)
M.G. my question also. One thing I have trouble with is figuring out where the main support / resistance is. Robert , how did you determine those two red lines? What points in the past are they based on?
[B]TalonD[/B]
Forgive me Mike… I’m re-arranging my charts so I can’t post one showing you at present. Going to try some serious 5m boll bouncing from Sunday night on next week. 
Either use the 1h or the 4h and look back to areas of significant PA bounce either way. These are S/R and better indicate what PA will do than on the 5m or 15m.
Quickly put these S/R’s in to a 1h chart.
Up to you, many do this off candle charts but if you want an easy way to do it. Convert your 4hr and 1hr chart to bars. Every major point that price bounces is a potential SR point. The more bounces from a region the stronger the line. They are more zones than exact lines usually.
Then flip your charts back to candles.
Great responses guy’s Thanks alot. I think that may have been one thing that was killing me all week =)
Mike G
P.s. Never been so excited for 5pm on a Sunday haha
Hi SanMiguel,
Thanks. I noticed too that the book was more of stocks that forex.I just went through the first and second chapters now. I may just take few hints pertinent to forex there too.Is there any book more insightful like that designed mainly for forex? I need to get perfect understanding of these basics not covered enough in the babypips school of pipsology.
Once again thank you.
John
Hi Robert,
Thanks. I appreciate it.A picture worth more than a thousand words.
Further, I compared your 4hr graph with mine and i observed that you used June 2 12:00pm Green(Bull) candle for resistant and June 4 12:00pm Red(Bear) candle for support.If i am correct, why did you use so long date rather than the current or newest dates close enough for October? How did you arrive at that?
John.
I’ve looked back at both charts recently posted… I can only see the 4h chart going back to 19/09 and the 1h going back to 08/09. 
In any event, I wasn’t taking the S/R lines off any paricular date or candle. More looking back to see where S/R has occured in order to draww in the ‘best fit’ lines. As Sanmiguel rightly states the S/R is not an exact line (unless you happen to have been lucky) but more of a guide line area of expected S/R. These are the areas we expect to run into a wall and PA will usually take a slight retrace and either break through or bounce off and go the other way.
As PA approaches these areas on the 1h and 4h its a good idea to switch your attention to the 5m and 15m charts to see in detail what the longer term charts S/R is doing in detail.
I drew some s/r lines on this 4h chart. how does it look? did I get them in roughly the right places ?
As a rule (if there is one), how far back to you guys take the 1h and 4h charts in order to determine S/R lines?
Hi Robert,
This is nice. As someone will say " if you cant explain it in a simple way, you dont know it enough." I guess you are a guru in forex trading. I am gonna be looking for your posts anywhere in this forum to learn more everyday…lol.
Thanks.
John.
They look bang on to me Mike!
As a general rule the more previous bounces (within reason) the more significant the S/R line is. If your on a longer time chart this might be day or weeks. Interestingly when PA hit a new high or low for perhaps the first time in a year you will be amazed how relevant the last low/high was from a year ago. Crazy but true. You will find yourself looking at weekly charts just to look that far back! 
Hey all, Hope you all had a good weekend =)
Im gonna try to draw some S/R line and post em if you guys don’t mind telling me if there good or not. Just looked over G/U…started pretty low no?
Mike G =)