Advanced strategy #10(Trend Line Trading Strategy) - ENJOY !

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Re: Advanced strategy #10(Trend Line Trading Strategy) - ENJOY !

Postby Blogworker » Thu Nov 12, 2009 10:18 am

manus168 wrote:n MYRON Trendline System i just still wondering, what used of the "Repaint" Zig Zag Indicator :?:


This Indicator is helpful to indicate the previus High and Lows - for me a good help to draw my trendlines. I learn at this moment trendline trading - its help me a little bit.

Myroon said : "This indicator is helpful simply because you can identify previous swing highs and lows which act as resistance & support levels and I think it is a handy tool to use in this strategy."

Myroon said also : " You really dont have to use the swing zz indicator at all in this strategy. But it does make it visually easy for me identify swing highs and lows in the past and based on that draw trendlines.
In answer to your question regarding substitue: the concept of this indicator is very simple, it zigzaps between swing highs & swing lows and if you had to do without this indicator, all you have do do is you draw trendline(s) connecting significant peaks in a downtrend & connect significant lows in an uptrend. the high and and low peaks are easily identified on any chart. At a minimum of 2 "peaks" or 2 "valleys" is required for you to draw a valid trendline. A line of best fit is usually required if you have 3 or more points to conect. "

Hope this answers your question @ manus168

@ Chinto - thats a good way to share a trade opportunity to us - really better with a screenshot for me as Forex Newbie - but it was clear enough for the moment.
My Question are - which Pairs are good for you ? Myroon said - All trending Pairs are good. I think, it is not so good trading Pairs at one moment - for example EURUSD and USDCHF.

To All - when you see any trading opportunity in any pair - please post this here and we can togehther show whats going on . Please post this with your timezone - My timezone is GMT / Berlin . So every trader can learn from the other .

Sorry for my crazy english friends - i hope you can everything understand here 8)
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USD/JPY

Postby chintopinto » Thu Nov 12, 2009 11:21 am

Hi Absh,

One has better chances of being right when taking trades on the direction of the Daily trend.
Counter trend trades can work some times but on the long run you will have better results taking trades on the direction of the Weekly or Daily trend.

Best regards,
Chinto.
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To Blogworker.

Postby chintopinto » Thu Nov 12, 2009 11:57 am

I have 15,20 diferent pairs to watch, for ME any pair that has the setup as the Strategy and the spread is not more than 5 pips i will keep an eye for a posible trade.

I have attached i screen-shot of the EUR/USD trade setup i was taking about.

Yor coment about EUR/USD and USD/CHF, i have also attached a screen-shot.
We can wait for price to trade back down to the 4 hour TL and then we may have a trade setup there.
Attachments
EURCAD.jpg
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Screen-shots

Postby chintopinto » Thu Nov 12, 2009 12:05 pm

This are the EUR/USD and USD/CHF screen-shots.

At this moment, i don't see a posible entry, price will have to test the 4 hour TL.
You may be able to find trade setups on 1 minute, 5 minutes and other time frames, i personally like the biger time frames.

Best regards,
Chinto.
Attachments
EURUSD.jpg
EUR/USD
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USD/CHF

Postby chintopinto » Thu Nov 12, 2009 12:06 pm

SCREEN-SHOT
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USDCHF.jpg
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My timezone is ET New York.

Postby chintopinto » Thu Nov 12, 2009 12:35 pm

Hi to all,

There is a posible trade setup on GBP/USD.
Take a look at the scheen-shot attached.

Best regards,
chinto.
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GBPUSD2.jpg
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Re: Advanced strategy #10(Trend Line Trading Strategy) - ENJOY !

Postby Blogworker » Thu Nov 12, 2009 12:51 pm

I have any difficulties to draw the trendlines in my chart - i also like the bigger picture - see D1, H4 and trade in H1 .
Here is a trendline in my chart of NZDUSD - i hope this is right.

Image
http://img101.imageshack.us/img101/7278/nzdusdh4121109.gif

I think to observe enough currency pairs with a lower spread give us a lot of trade opportunities per week/month.
I must learning to draw trendlines right - thats the basics to success for me i think - i hope this tread helps me to find it out.
Thanks for every post /statement - Wish you all a lot of pips !
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To Blogworker.

Postby chintopinto » Thu Nov 12, 2009 2:26 pm

That is a valid TL on NZD/USD.

This is a good link for you to look at TL. http://www.trendlinebook.com/

Best regards,
Chinto.
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Re: Advanced strategy #10(Trend Line Trading Strategy) - ENJOY !

Postby Blogworker » Thu Nov 12, 2009 3:00 pm

chintopinto wrote:This is a good link for you to look at TL. http://www.trendlinebook.com/


Thanks a lot Chinto - thats a good lesson. I think, when i can draw trendlines in my chart in the right way - The world is not enough !
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TL

Postby chintopinto » Thu Nov 12, 2009 3:21 pm

You are wellcome Blogworker!

With time you will get real good at it, there is not perfect TL.

Best regards,
Chinto.
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