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

[simpleforex]

I got stopped out on eurusd, made 114 pips

good one ilbrigante,

upward trendline broken and the DOW theory being satisfied here on eurusd so this might mean a downward fall from here on this pair...looking at the weekly and even daily timeframe, notice that this pair is at a very signficant level of a downward major trendline. so the TL break is happening at this level...look for oportunities to go short, in other words..

Cheers

[simpleforex]

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.

Toinou21,

I do use fib retracement tool, but I do not post my charts with Fib as this would be quite messy and confusing. Fib retracements are not always 100% acurate but they are a good tool to use.

How I generally use them is just to see if the fib retracement levels coincide with a touch of a trendline for a valid setup.

See example of a trade I took which is still running...

cheers

[simpleforex]

gbpchf

[simpleforex]

gbpjpy

[simpleforex]

Euraud...first trade still running good, im trying to jump in again, there is a setup happening right now...

[simpleforex]

audusd trade yestearday, got stopped out, breakeven.

[simpleforex]

lets see if this nzdusd will go as anticipated.

[simpleforex]

yesterday's trade...at least I locked some profits on this one, im out now on eurgbp...there might be a short opportunity again, watch the next candle after this present one to see if there is a good setup or not.

[toinou21]

lets see if this nzdusd will go as anticipated.

I found something weird, my candles looks a bit different than yours, even if i use the 1h time frame. I put an arrow on it. Maybe it's because i use a different broker.

[gabrieleg]

going short on nzdchf and long on eurnzd