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

[simpleforex]

finally the time has arrived to place a trade on the gbpusd that I have waited for weeks...

[Pharley]

Hi all,

My first post as I've just joined. I've read through all the past notes on this strategy and it seems good to me. I hope people are making the $ with this one.

Quick question - how many pairs is it feasible to look across for setups? Eg, I look at 10 pairs and I want to check daily chart, 4 hr and perhaps 1hr chart? Does that sound about right, or do some look at 20+ and other just stick to say 4 or 5 faves?

Looking at Myron's original results, he was looking at about 5 or 6. Volatility was greater back then, but the premise is still sound.

Anyway, back to some charts. Sometimes it's difficult picking upclear trendlines and others are easier. I suppose if I don't easily see clear trendlines I should stay clear of those ones!

Cheers to all.
PJ

[gabrieleg]

i dont know about that, looks like price is consolidating in 1.6300-1.6220 zone, im pretty sure there is gonna be still a small move up like to 1.6400 at least, might even get up to 1.6500 as a psychological level, dollar is weak and traders wanna bull up the market a little before selling big time. But definitely there is gonna be a great move down (maybe even 2000+ pips), BOE is said to raise rates in spring, everybody is talking about it, and the trend line is extremely strong, no need to point at all oscillators' divergence on d1 and w1 TF.
Let's watch and see what happens!
Good luck everybody!

Gabriele

[simpleforex]

If there is ever going to be some good lessons learned from trading then maybe these 3...

(1) dont REASON out too much about everything under sun on why the market wont move here and there...
(2) don't ANALYZE too much that it becomes a CRITICAL ANALYSIS...
(3) JUST DO IT...if the system says buy, then buy, if it says sell then sell.

Regards

[simpleforex]

eurusd is also at a point like GBPUSD pair...might have a good move downward...

[simpleforex]

Hi all,

My first post as I've just joined. I've read through all the past notes on this strategy and it seems good to me. I hope people are making the $ with this one.

Quick question - how many pairs is it feasible to look across for setups? Eg, I look at 10 pairs and I want to check daily chart, 4 hr and perhaps 1hr chart? Does that sound about right, or do some look at 20+ and other just stick to say 4 or 5 faves?

Looking at Myron's original results, he was looking at about 5 or 6. Volatility was greater back then, but the premise is still sound.

Anyway, back to some charts. Sometimes it's difficult picking upclear trendlines and others are easier. I suppose if I don't easily see clear trendlines I should stay clear of those ones!

Cheers to all.
PJ

definitely agree with you on the TL thing...if you cant see an OBVIOUS peaks or troughs to draw a trendline, stay clear. what that means is that millions out there cant see it too...you want to make sure, you are in the same page as everyone out there so that WHEN they will react and respond predictably when market moves to this area of support and resistance provided by the trendline, you ride on this trend created when they all jump in!

If you are thinking of making only 1 or two trades a day, maybe consider 20 plus pairs as that would give you the chance that when you go through all these pairs, there would be a high probability that you will find at least a setup happening for the day which you can take...

[ganokave]

Long 1 H
Aud/Usd

[ganokave]

Long H1
Gbp/Usd

[simpleforex]

288 pips profit from EURGBP and EURCAD trades.

[simpleforex]

ok, GBPUSD trade is still going..126pips floating profit