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

[moneymogul]

Just entered shhort on Eur/Jpy

[Absh]

Hi guys,

The gbp usd order I posted last week has broken the TL and is not valid anymore,

Two excellent setups moneymogul,

Both trades formed a rising wedge on their way up to the TL, which has a high probability of a reverse when hitting the TL. Look at my shots.

[Absh]

Im trying to combine this strategy with some chart patterns which could be a powerful combination with this TL strategy. What do you think?

Another possible at setup audcad where a rising wedge has occured and could indicate of a reversal near the TL.

Regards,

[moneymogul]

Thanks Absh...

Good eye on noticing the Wedge too!

[moneymogul]

got stopped out on yen trades

[chintopinto]

Im trying to combine this strategy with some chart patterns which could be a powerful combination with this TL strategy. What do you think?

Another possible at setup audcad where a rising wedge has occured and could indicate of a reversal near the TL.

Regards,

Absh,

Anything that makes the Strategy better, is more than wellcome.

Regards.

[Las]

I would say i trade almost the three sessions, is not that i set in front of the computer day and night, is because i usualy take trades using 4 hour charts and so, doring the day i am able to check the computer every hour or evry tow hours and at night , i only sleep about 6 hours and like i said, using 4 hour charts, you don't miss much if you are away from your computer 6 hours because it is only 1 1/2 4 hour candle.

Hi chintopinto,

That also be a great idea on trading in H4.Im gonna try trade minor trend on 1H and 30m and major trend on H4 and Daily.

Cheers,
Las

[chintopinto]

I would say i trade almost the three sessions, is not that i set in front of the computer day and night, is because i usualy take trades using 4 hour charts and so, doring the day i am able to check the computer every hour or evry tow hours and at night , i only sleep about 6 hours and like i said, using 4 hour charts, you don't miss much if you are away from your computer 6 hours because it is only 1 1/2 4 hour candle.

Hi chintopinto,

That also be a great idea on trading in H4.Im gonna try trade minor trend on 1H and 30m and major trend on H4 and Daily.

Cheers,
Las

Yes, you don't have to be checking the price every minute. The only thing is that sometimes you have to wait 1 or tow days to get a signal and if it is a losing one, sometimes you will have to wait 1 or 2 more days to get the other signal. But patience is the key using big time frames

Regards.

[moneymogul]

Possible USDJPY sell on 4h chart

[GT3RS]

Hi all,

This is my first post here, but I have read the original Myron article and also this thread from start to finish.

I too feel this is a great looking strategy and will be incorporating it into my trading arsenal from now on. VERY simple support/resistance and trendlines are the way forward.

I'm a big believer in pivot points as well, although many pairs seem to have been disrespecting pivot levels over the last few weeks!!! Fibs can be reliable too.

Maybe looking for confluence between pivots/fibs and trendline reversals will add some further weight to your decision making - or am I overcomplicating a beautiful simple system?

I think the opportunities from trendline breakouts should be investigated - and maybe using pivots and fibs could allow us to do just that!!

@ Moneymogul - yeah - that usdjpy chart does look a nice set up - but let's wait and see what happens.

I will post any setups as and when I see them.

Cheers,

GT3RS