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

[il brigante]

Lock in 90 pips on eurusd

[gabrieleg]

Hello everybody!
possible aud usd short position, correct me if im wrong

@simpleforex, wanted to ask you if it is better to switch to smaller tf like in this case since 4h candle is pretty big, so if i switch to 1h i tighten my sl and so my risk

audusdh4

audusdh1

[simpleforex]

Hello everybody!
possible aud usd short position, correct me if im wrong

@simpleforex, wanted to ask you if it is better to switch to smaller tf like in this case since 4h candle is pretty big, so if i switch to 1h i tighten my sl and so my risk

The attachment audusd.gif is no longer available

The attachment audusdh1.gif is no longer available

Gabrieleg,
good on you...you are doing the right thing...always switch back and forth between the larger timeframe (4hrs) and smaller timerame (1hr) to see what is happening there.
the advantage of entering in the smaller timeframe is you have much tighter stop loss compared to the larger timeframe. secondly, somemtimes in the 4hr timeframes you will not see REVERSAL CANDLESTICK PATTERNS ocurring, but if you switch to smaller tfs, you can see them there and enter trade based on that and if maket moves in favour, good. Similarly, sometimes in smaller timeframes, you will not see clear reversal candlestick patterns, therefore you check what is happening in the larger timeframes candles....hope im making sense here...

see the audusd chart..notice the slowing down of upward momentum as market comes to the major downward TL...we can almost see a Spining Top candlestick which is later followed by an Inside Bar...this is something to take note of.

[simpleforex]

just be on alert for the first upward trendline in audusd, it this breaks, watch for the test of the 2nd TL below, break of this would mean further move downward. if the 1st TL, holds, that can mean more further move upwards.

[gabrieleg]

waiting for triangle breakout on gbpchf, lets wait and see what happens

gbpchf h4

gbpchf h1

[gabrieleg]

thank you for your quick answer bro and thanx for beeing here for solong to support traders and this thread!!!
ive been monitoring fx markets for 3 years trying different strategies, this is the best one so far, ive tested it for 4-5 months now and im ready to go live becuase no matter how long you try demo its nothing like live, your brain just starts thinking the other way once its real money.
i transferred 10k today to my live account, made a strong mm system, im taking 2% risk on each trading with additional capitalizations risking 0.2% for each one,
and im analyzing 1w, 1d and 4h, then when it gets close to the trendline i switch to smaller tf, i use a different color for each tf trendline, to know their strength and so their differences.
i think ill start trading live next week so its gonna be a fresh start. ive seen this week has been really important since a lot of trendlines had been broken, and there might be emerging trends very soon. Ill keep you updated on my p/l status starting from next week.
Meanwhile there might be an interesting set up on eur usd as it is approaching a old trendline and a strong (i believe so) resistance level. Plus all this wars and rise in oil prices might drive euro lower (i dont take fundametnals way too seriously but still i keep it in mind)

eurusd w1

[simpleforex]

[quote="gabrieleg"]

... im ready to go live becuase no matter how long you try demo its nothing like live, your brain just starts thinking the other way once its real money.
i transferred 10k today to my live account, made a strong mm system, im taking 2% risk on each trading with additional capitalizations risking 0.2% for each one, Ill keep you updated on my p/l status starting from next week.

@Gabrieleg: Keep it simple...

first trade on euraud got stopped out with 60pips profit, i've hopped in again...almost 100pips floating profit on this one, moved stop loss to lock in some profit.

[simpleforex]

eurgbp is now moving doward due to the reaction on a major downward trendline. if you go the weekly timeframe and draw a downward trendline, you will see what i am referring to....stop loss moved to break even.I wasnt around to enter at the exact TL entry for this setup based on the wkly TL and the market moved down, so I waited for a TL setupup, a break of a support level or a trendline break to occur in order for me to enter... and the yellow minor upward TL break provided me just that setup and opportunity.

[toinou21]

Hello SimpleForex,
I have a very simple question, and i wanted to hear your opinion about, some of my friends are using Fibonacci retracement, do you think this tool is really accurate ? Did you ever use it ?
Thanks for your answer, and your time to make this forum great.

[il brigante]

I got stopped out on eurusd, made 114 pips