How can they call this line resistance?!

[SanMiguel]

This article states the PA is pressing against the falling line resistance. Until 2 days, the PA wasn't even there so they have simply moved the line up and called it resistance.
Surely it was a breakout?!

Article:
EUR/GBP Daily Outlook - Forex Trading, Currency Forecast, FX Trading Signal, Forex Training Course, Education, Tutorial, FX Book, Forex ebook, Learn to Trade Forex, FX Guide, Pivot Points, Currency Rates, Forex Secret, Forex Brokers, Currency Trading

My pic:

 

[new_trader]

Why don't you try thinking for yourself for a change? Successful trading and developing an edge is not based on consensus reached in a forum. You are not learning anything by asking for opinions.

 

[SanMiguel]

Why don't you try thinking for yourself for a change? Successful trading and developing an edge is not based on consensus reached in a forum. You are not learning anything by asking for opinions.

The evidence of the post suggests I am thinking for myself because I am querying a report written by someone else.
This is a forum, try discussing instead of flaming people. You learn a lot of things discussing in forums.

 

[new_trader]

The evidence of the post suggests I am thinking for myself because I am querying a report written by someone else.
This is a forum, try discussing instead of flaming people. You learn a lot of things discussing in forums.

You were given EXCELLENT advice in another thread of yours and now, a little over 20minutes later you start a new thread!

Goodbye!

 

[SanMiguel]

You were given EXCELLENT advice in another thread of yours and now, a little over 20minutes later you start a new thread!

Goodbye!

advice of which I am now reading and looking up darksiding and tape reading.
So, I'm not allowed to ask other questions in the meantime?
Get up off your high horse.

 

[rathcoole_exile]

!

Goodbye!

what would it cost you, really, to be pleasant to just one person just once ?

 

[ffsear]

Some people know the price of everything, yet the value of nothing.

 

[SanMiguel]

Some people know the price of everything, yet the value of nothing.

Very good. Now, can we talk about these charts.
The analyst moved the trendline up but failed to see that the new high was above the last low so shouldn't he have drawn an up trendline instead?

 

[dick_dastardly]

This article states the PA is pressing against the falling line resistance. Until 2 days, the PA wasn't even there so they have simply moved the line up and called it resistance.
Surely it was a breakout?!

Article:
EUR/GBP Daily Outlook - Forex Trading, Currency Forecast, FX Trading Signal, Forex Training Course, Education, Tutorial, FX Book, Forex ebook, Learn to Trade Forex, FX Guide, Pivot Points, Currency Rates, Forex Secret, Forex Brokers, Currency Trading

My pic:

Uh? Wot?

Line! Line! which line ?

There's lines all over the shop!

Which line you talking about ?

dd

 

[dick_dastardly]

Opps! Sorry SanMiguel, I didn't follow the link you posted.

Yes, I see what you mean now, the lines are drawn to the price action as it is now and not how is was earlier.

That's the trouble I always had with trend/SR/fib lines, you can keep on tweaking and adjusting them for ever only to see them violated by subsequent price action.

I gave up trying to jump in on TL touches long ago. For me, a trend line is useless until it fails.

After a quick glance at this pair there was only one trend line that jumped out at me ( see chart attached ). The TL failed at around 8860. This level was acknowledged by price BEFORE the TL failed and if you look at the lower TF's although price did not respect this level afterwards it does acknowledge it as it passes through.

If price revisits the 8860 region in the next week or so this level may prove useful.

Worth Keeping an eye on.

dd