Am I on the right track?

[lulu2199]

Hello everyone,

Since things are quite crazy and confusing with about every major pair, I decided to step back and draw some support lines, and maybe come up with some inspirations.

I was drawing USD/CHF support lines, and this is what I came up with:

My plan is that since I currently see this yellow line as a support line, every time that this pair dips near this line and starts to hesitate, I buy it and set t/p 10-20 pips further.

Am I on the right track with what I just wrote there? Is this line even a support line?

Thanks!

Lulu2199

 

[Enivid]

It probably is a support line. When you do such buy trades, you must have a clear understanding where your stop-loss lies.

 

[lulu2199]

It probably is a support line. When you do such buy trades, you must have a clear understanding where your stop-loss lies.

Thanks for your reply!

Could you explain more precisely what do you mean by understanding where my SL lies and how to do it?

Thanks!

Lulu2199

 

[Enivid]

Thanks for your reply!

Could you explain more precisely what do you mean by understanding where my SL lies and how to do it?

Thanks!

Lulu2199

What else could I mean other than "define and set your stop-loss in such trades"? If you are trading support/resistance, obviously, your SL should be somehow connected to those levels.

 

[Andrew]

this arrow always boggeling my mind......need to consult with expert on this I am not so its better to not explain it.

 

[niccotinpola]

Yes brother you are in correct line.i show your line,its not so perfect but its good.carry on.thank for picz upload.