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

[Ramirez]

Hi,

I got a question concerning the Eur / Cad Trade.

I'm not sure if it was right adjusting the stop loss?

Should I have left the stop loss beneath the trendline???

[simpleforex]

Hello Guys,

got stopped out on eurusd and gbpusd trades but walked away with some massive profits
145pips profit on eurusd
229pips profit on gbpusd

got stopped out on nzdusd trade with a 17pip loss.

[simpleforex]

Hi,

I got a question concerning the Eur / Cad Trade.

I'm not sure if it was right adjusting the stop loss?

Should I have left the stop loss beneath the trendline???

Hi Ramirez,
how are you doing bro?
Ideally, leave stop loss under a prevous swing low for a buy entry and above previous swing high for a sell entry. Why is this approach favourable? Less probability of market taking out your stop loss.

Cheers

[simpleforex]

WHEW!!!!!!

[Ramirez]

Hi Simpleforex,

first of all, I really apreciate the effort which you put in this thread!!!

Unfortunately, I've been away for quite a while, cause I've tested some other strategies. As it turned out, they were not as profitable as this strategy.
But as of now I'm gonna stick to the Trend Line Strategy.

another question:

Sometimes you are also trading breakouts. How do you decide which breakout you take? Are you look out for the next resistance and consider
the candlestick pattern? Cause for me it seems, that many breakouts are false one, and are going back after a while.


How about the eur/gbp trade?

Greetings Ramirez

[simpleforex]

Hi Simpleforex,

first of all, I really apreciate the effort which you put in this thread!!!

Unfortunately, I've been away for quite a while, cause I've tested some other strategies. As it turned out, they were not as profitable as this strategy.
But as of now I'm gonna stick to the Trend Line Strategy.

another question:

Sometimes you are also trading breakouts. How do you decide which breakout you take? Are you look out for the next resistance and consider
the candlestick pattern? Cause for me it seems, that many breakouts are false one, and are going back after a while.


How about the eur/gbp trade?

Greetings Ramirez

Hi Ramirez,
couple of tips I personally use to trade breakouts...see charts below

[simpleforex]

How about the eur/gbp trade?

Greetings Ramirez

You will notice that on the chart in the 1hr, the market intersected the trendline and many will start to think that..."surely that trendline has been broken, now its going to head up". Will the market go up (or go down)??? I dont know...but what do I know or what should I look for? Here is a couple of ways I do my trades with such scenario:
(1)Go to the Larger timeframe and see what kind of candlestick has formed in that....does it look very bullish? No...but the previou candle back was very bullish which broked the TL, but not the present one..so what does that mean??? upward momentum has slowed down significantly and yes, it is at a very high probability influential trading area provided by a downward trendline. I will place my sell stop under the low of the last 4hr candle even though the trendline is broken and market is above it because I understand that trendline is like a zone...market may not be exact spot-on touch&reverse. Furthermore, the candle is not way far above or away from the trendline...its just close.
(2)2nd thing i sometimes do with such a scenario is that I will place also a 2nd pending buy stop order above the high of the last 4hr candle....why? Because I know that the trendline has been broken to the upside already (not significantly though)... If it does move up, I have an order that will catch that move. similarly on the downside. if one of the order gets triggered, I cancel the orther opposite order immediately.

Cheers

[simpleforex]

the eurgbp trading options...

[simpleforex]

here is an example

[simpleforex]

here is another one...