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

[nlenz]

You are welcome. Thanks for the compliment.

[Azim166]

My last analysis

"Let's be careful and not draw any conclusion. The triangle we see on Azim166 charts may be real, or an illusion? The lower trendline may be there just to fool us? Will the plan succeed? In my experience they never do. The monthly pivots points doesn't show up on my chart, that is an omen. Then we have W_PP line before any TP line, that is another omen. No, this is too scary, please "

Azim166's reply
"LOL! please don't argue"

Tradeplan succeeded about 0%

USDJPYresult.png

However, your Breakout, pullback, continuation pattern was reapeated again

USDJPYBreakout.png

That is normal. I also didnt entered any trade on USD/JPY H4 chart.I would entered if there is a valid bounce. If there is no valid bounce, it means there will be a breakout. So i traded the Breakout, Pullback and continuation method. Combining Trendline Strategy and that method is very powerful!

By the way, the lower trendline is not a fake! That is used to show whether there is a bounce or a breakout would happen

However, I think you should not include the Breakout,pullback & continuation method here. Some of the traders here is concentrating on using trendline strategy only. Do not confuse them.

[Azim166]

Azim166', Tradeplan: Trend is up , first some pips down , then rebound up , buy into weekly pivot points , don't consider triangle , only trendline , then reverse everything . The last thing was good, just as "planned"

.

Hehe Allright

[simpleforex]

reply to ill brigante:

reasons for taking 3 trades in USDCAD. The first trade, i took on the 4hr tf as per the trendline trading strategy rules.
the second trade & the 3rd trade, as you see in the chart, i put sell stop orders under previous support levels, knowing that if there is a downward move off the trendline, then there is a HIGH PROBABILITY that all these support levels will get broken as price continues to tumble. now, you may wonder, this is not the trendline trading strategy...but in fact it is, not directly... but you see, im basing my bets that on the first trade taken the trendline trading strategy. another advantage of this is that if there is a big move, you will not only have only the 1st trade but 2nd &3rd and 4th etc that all will be in profit and this is how you can grow your account by capturing on these kinds of big moves instead of just having one trade.this will also depend on size of your account as well. A NOTE OF CAUTION THOUGH: I often tend to take this kinds of trades much closer to the trendline where im expecting a bounce. For further subsequent trades down, i tend to take reversal trades on "support broken turned resistance levels" as many of my post will show.and example is the 4th pending order ive just placed on this pair usdcad.

by the way, my first trade is still alive, with 70pips profit so far, have moved my stop loss to lock in some profits.the 2nd and trade trades got stopped out with not loss or profit.

[simpleforex]

got 38pips when my trade got stopped out. im placing a sell limit pending order.if price goes up, im expecting a reversal on this level indicated in blue.im late in entering long on the 3rd retest of the downward trendline that was broken to the upside.

[simpleforex]

Buy stop pending order on usdjpy not activated. trendline broken...
a good opportunity to go short after the trendline was broken when price came up to retest the previous support level that was broken.

[simpleforex]

Pending order not activated in audusd. tl is now broken, watch for retrest of this tl.

[il brigante]

Thank you for that, simpleforex.
I am out of usdchf, I was aiming for my TP, but was not reached, I made 65 pips moving my SL to latest swing high on the 1h chart

[simpleforex]

500PIPS SO far on gbpjpy..stop loss moved to lock profit. also placing a pending trade.

[simpleforex]

CLOSE MY USDCHF TRADE WITH A 217PIPS PROFIT.
IM PLACING A SECOND PENDING TRADE.MY REASONING. PRICE HAS BOUNCED DOWN FROM TL.THERE IS A SUPPORT LEVEL AREA INDICATED BY BLUE...IM ANTICIPATING A BREAK OF THIS LEVEL DOWNWARD.WILL SEE HOW IT PANS OUT.