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Open E Cry
The unofficial Open E Cry forum.
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By FXTechstrategyT · Posted
USDCHF Bounces Off Lower Prices On Correction. USDCHF bounces off lower prices on correction the past week. This has opened the door for more gain in the new week. Resistance resides at the 0.9800 level. Above here, resistance lies at the 0.9850 level and then the 0.9900 level. Further out, resistance comes in at the 0.9950 level. On the downside, support is seen at the 0.9750 level with a turn below here opening the door for more decline towards the 0.9700 level. And then the 0.9650 level. Further down, support resides at the 0.9600 level. All in all, USDCHF remains biased to the upside on further corrective strength. -
Can I ask what broker are you using for trading oil? -
By adamevans419 · Posted
Hey, I am new to this. Anyone use software like this?? Is it legit?? -
Extend Trend Lines is a VTL Client-side indicator for elongating the trend lines on the chart to the last bar. Traders usually draw trend lines on the chart and use them as support resistance levels. When a trend line breakout happens, it is the beginning of a new trend. One issue with trend lines drawn manually on the chart is that they do not get elongated when new bars form on the chart. It should be manually adjusted with new bars. Extend Trend Lines VTL Indicator takes care of this situation. It automatically adjusts all trend lines on the chart to the last bar. It monitors the trend lines on each new bar and adjust them. This is useful when the trader opens the terminal on a new day and the old trend lines are short and need adjustments. ExtendTrendLines.zip -
Previous day high low is a Client Side VTL indicator that draws the last day’s high, low and today’s open on the chart. When day trading, the previous day’s high and low are important reference points or support resistance levels. In a bullish market price breaks above the previous day’s high early in the day and continue to trade above that level. In bear markets, price break below the previous day’s low early in the day and continue to trade below that level. Trading ranges form when price fails to break the previous day’s high or low successfully. This info alone can improve your trading results as this give you a clear vision of what is likely to happen today. Breakout trading strategies work best when price is above or below yesterday’s range. Trend following strategies also work best in this situation. When price is inside yesterday range, counter trend strategies work better. Oscillators like RSI and Stochastics work best in this situation. Prev_Day_High_Low.zip
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