Methodology
- usdjpy
2)multi tf analysis - horizontal S&R lines
- volume
- money management
- psychology
Bro i have question about the 3 pt pips after the S/R. What if it goes 4 pips more after the S/R? i’m pretty sure it would break the S/R boundaries and will continue to break the next S/R.
Platform - fxtrade
Tf - daily
Pair - usdchf
The horizontal line in yellow colour is my s&r. As I see it. It has 4 points. I circled the 4 points. And it so happen the price of the s&r line is in a round number, 0.9800. So for me . this is a valid and strong S&r.
So I look at 28 pairs. I pick the best s&r(very visible ones ).and put it under my watchlist . from there I pick the best.
Hence, Ying. 3 points isn’t pips . is what I drawn below to validate my s&r . cheers !!
Ok, now I can see most whip candles you circled was considered strong s/r. That what we focus on.
[QUOTE=“Joe Ng;764149”]Platform - fxtrade Tf - daily Pair - usdchf The horizontal line in yellow colour is my s&r. As I see it. It has 4 points. I circled the 4 points. And it so happen the price of the s&r line is in a round number, 0.9800. So for me . this is a valid and strong S&r. So I look at 28 pairs. I pick the best s&r(very visible ones ).and put it under my watchlist . from there I pick the best. Hence, Ying. 3 points isn’t pips . is what I drawn below to validate my s&r . cheers !![/QUOTE]
I’m guessing if number 5 will hit 0.9800 again be another whip red candle then we need to short to: 20~30 pips
Hi Ying. I don’t trade from s&r. For example. Look at the chart above daily, usdchf. Coming Monday , if the new daily candle is bullish and it bull till 0.9770 - 0.9780, which is 30- 20 pips away. From my s&r 0.9800. I will long it .
Is pretty clear that I wrote the trading plan from the first post. So i’ll follow it
Hi Joe,
After digesting your strategy, base on Daily chart, the following picture is the support and resistance zone level i have identify for EURUSD. Current price is trading in between the S/R zone.
Zooming in to Hourly chart, base on my understanding of swing trading concept and a stochastic indicator. My gut feel is for EURUSD to hit the bottom Support zone level.
Henceforth,
my Targets projection is : 1.13100.
Resistance is previous swing high level at : 1.15500
Please feel free to comment everyone.
Not bad sir, looks like your doing the same way i’m doing. mine was a bit interactive though, i tried R3,R2,R1 pivot point S1,S2,S3, mine in a 15min tf.
Yeah, in the chart, i can see that its in the R/S level. lets see whats gunna happen if it will pass through next week.
How about the number 6? trading time?
6) trading after 12pm Malaysian time. i’m concerned about this normally it would open the euro market @ 3pm SIN time. That means there’s a lot of volatility after the euro market opens until the US opens too. So working time is after 12pm Malaysia time? i want to ride on this.
Well , is just that fxtrade oanda’s daily candle opening is @ 12pm local msia time.
awesome,now i can practice to determine the daily s&R with you
If this will be the s&r for euro, it will go short till near 1.1200
Yeap that’s exactly how I would have drawn it myself . great 
I always tell myself that the s&r is just a guide. Having your own research will help alot to determine when to enter and when to exit & whole lot more of other variables you are looking into.
