Trading Euro Support/Resistance levels

[Analyst2]

Hi Pure Muscle,

I mean that Euro will probably loose rising strength. So there is a possibility that price range will form. Precalculated levels will help for better entry.

In this chart it is seen that Euro fall was terminated twice by precalculated levels:
first time with dashdot line, next time (today) by dashdotdot line.

It is good probability that price will rise until it will met blue line at 1.2950
However if 1.2900 level will be broken, euro could meet support at 1.2830 level

[Analyst2]

I don’t post any link to my site and no promotion.
You can use this analysis if it helps you to make better decisions.
I think many traders can profit just looking to these graphs.
I will be glad if someone will make profit from my analysis.

After visiting his site … it looks like it

[system]

Hey

I read your comment and thought I’d share with you a Fib I use and teach here on Babypips… hope this helps in your examples. :57:

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@Analyst2

Euro March 2012

This year’s Euro history is good example how effectively works support / resistance lines.

First let’s look at Euro March chart. You see orange green line around 1.3390 level. This level was calculated from February 29 - first part of March downtrend. If you check Fibo, you will not find any level exactly at March 27 and April 2nd Highs. But according to my method, highs were catch almost pip-to-pip !

You can also notice that low between double (March 29) was just 15 pip below orange and blue support lines.

Analyst

[Analyst2]

Excellent ! :57: You are welcome
This will help to improve this thread !

[QUOTE=InnerCircleTrader;396738]Hey

I read your comment and thought I’d share with you a Fib I use and teach here on Babypips… hope this helps in your examples. :57:

[liftoff]

I don’t post any link to my site and no promotion.
You can use this analysis if it helps you to make better decisions.
I think many traders can profit just looking to these graphs.
I will be glad if someone will make profit from my analysis.

A 1000 apologies

[Godly_Paul]

I don’t post any link to my site and no promotion.
You can use this analysis if it helps you to make better decisions.
I think many traders can profit just looking to these graphs.
I will be glad if someone will make profit from my analysis.

I didnt quiet understand how exactly your system works. Can you please share your indicator?
I think you are a well wisher & not a spam.

Cheers!

[Analyst2]

Hello,

The system is very simple:
These lines are used just as usual support/resistance levels.
It means: if price rises and touches resistance line, go short.
If price declines and touches support line, go long.
Support and resistance levels alternate: it means old support become a new resistance.
Indicators and price patterns should be used to confirm S/R lines.
Below I attached Euro September screen.
Support/resistance levels are calculated on weekly timeframe.
It is clearly seen that Euro was rejected by Resistance level. Price could not close much above this level on 240 min bar.
After that Euro declined for several days until it touch Support levels.
After Support rejected price, Euro become to rise. I think it will rise until met next good level.
Daily resistance level is forming around 1.3140 (will see more clearly on Monday).

I wish you and all forum readers profitatable trading.
Hope my posts will help you to increase profits.

If I will get more feedback I will post more examples and forecasts.

Best regards,
Analyst

@Godly_Paul

I didnt quiet understand how exactly your system works. Can you please share your indicator?
I think you are a well wisher & not a spam.

Cheers!

[atchanawat]

Thank you so much. You are share of us to join
Trading Euro Support/Resistance levels.Your each shais
INFORMATIVE & HELPFUL.Keep it up,May GOD REWARD YOU.

[yak2444]

theory is nice . almost everybody knows what to do when PRICE touches these lines. question is how to draw these lines.

[yak2444]

if u can show how to draw these lines and to trade it is worthwhile. u wanna some dollars to be paid then jus stop this thread.