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

[simpleforex]

usdjpy trades, yesterday (monday) and today.

first trade, sl moved to be.

second trade 8 pips stop loss.

[simpleforex]

gbpusd trade today

[simpleforex]

got stopped out 2 usdjpy trades...-$50.

[TrendTrader]

Here is again eur/usd, I am till going long and adding to my position. Trend line is being respected, fibonacci 38.2% there is a chance it is going to try the high of 1.4750 resistance. Let'see what will happen.

[TrendTrader]

Here is again eur/usd, I am till going long and adding to my position. Trend line is being respected, fibonacci 38.2% there is a chance it is going to try the high of 1.4750 resistance. Let'see what will happen.

eurusd.gif

Eur/Usd, I closed the trades after the bad news in europe. changed to short for now with tight stop loss.

[tozsdeprofit]

GBP/JPY
1st TRADE
1H
RISK:20 PIP
2011/06/07

GBP/JPY
2nd trade
1H
NO RISK
2011/06/08[youtube][/youtube]

[udomfx]

How do you manage to set this tight SL on what TF please.

[tozsdeprofit]

How do you manage to set this tight SL on what TF please.

Timeframe: 1H
1.I trade, when the countertrend breaks.
2. if I see "M" letter formation or "W" letter formation. That is the most important.
I risk always max. 2% at the first trade
by 2nd trade I was always breakeven. see the and of these trades. price has come against to me, but I closed a little profit.
but earlier I had a 5th position building Eur/Gbp.
At that trade, I had only risk at the 1st trade.

[Azim166]

GBP/USD H1

[udomfx]

How do you manage to set this tight SL on what TF please.

Timeframe: 1H
1.I trade, when the countertrend breaks.
2. if I see "M" letter formation or "W" letter formation. That is the most important.
I risk always max. 2% at the first trade
by 2nd trade I was always breakeven. see the and of these trades. price has come against to me, but I closed a little profit.
but earlier I had a 5th position building Eur/Gbp.
At that trade, I had only risk at the 1st trade.

Thanks a great deal tozsdeprofit. I do not understand how mean W or M formation. since we are not trading pattern but simply a bounce off.
Do you mean I dont have to take the trade if it bounce off the 4hrs & D1 TL againt a 1H and 30 min counter TL i must allow the counter to break first and take the bounce after that? Please advise.

In this attachement: EUR/JPY 1Hr Chart. The red lines are 4hrs Trendlines and previous Support , While the yellow line is a Daily Trendline(down trending). Both Hrly & 4hrs have been showing a strong move up. What should I do??