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

[Absh]

Hi guys,

Im not sure whether I would enter on that eurusd, would wait for the candle to close and cross the TL.

Remember the gbphpy order i posted last week? it obeyed the h4 TL

regards,

Absh

[lawgirl21]

I am short EURUSD also. RSI(3) confirmed down trend on weekly, daily and H4 which I need before I will get in trade. Let's see how it goes. Rebecca

[chintopinto]

I'm short audjpy - got in it a bit late, but as you can see, there is a bounce off the downslope trendline and a break of the upsloping one.

The attachment audjpy.gif is no longer available

Yes, Price tested the TL and now is trading down. Lets see how it goes.

Regards.

[chintopinto]

Hi guys,

Im not sure whether I would enter on that eurusd, would wait for the candle to close and cross the TL.

Remember the gbphpy order i posted last week? it obeyed the h4 TL

regards,

Absh

Good job on your GBP/JPY it is working well to the down side

About the EUR/USD it does not seem to be respecting the TL to take a trade to the upside. It seems that has allready broke the TL

Regards.

[chintopinto]

Hi guys,
I got problems with trend line.most of the time it bounces off without touching the trend line and breaking the trend line.Maybe the way I draw the trend line are wrong.I draw from the first two swing low or swing high.can anyone help me with these??

Hi Las,

If price bounces off the TL still to far away from it, without touching it, it means there is still not a trade setup opportunity,
If it breaks it and trades below/above, we should move to something alse, that particular trade setup is not longer valid.

I have attached a screen-shot that may help you out.
Let me know if you are still not clear.

Best regards.

[Las]

Hi Chintopinto,

Thanks a lot for the advice.I have to study more about these strategies.I forgot that patience is the key to success I took a short on usdjpy, audjpy and gbpjpy on H4.what do you think?will it go down obey the trend line?But I put a buy stop order abovve the trend line because still dont know how far price will go due to Daily trend line that I drawn

[chintopinto]

Hi Chintopinto,

Thanks a lot for the advice.I have to study more about these strategies.I forgot that patience is the key to success I took a short on usdjpy, audjpy and gbpjpy on H4.what do you think?will it go down obey the trend line?But I put a buy stop order abovve the trend line because still dont know how far price will go due to Daily trend line that I drawn

Hi Las,

The Stop Lost was placed correctly. Allways outside the LT with the proper R:R Ration to your profit target.

The AUD/JPY it is a perfect exemple of a valide trendline draw, however, take a look at GBP/JPY TL , how price traded out side the TL and actually 5 candles closed above it, for ME, that would not be a valid TL. Price can trade down even when the TL has been broken, it is just my opinion.

Yes Las, patience is the key to success. A professional trader can make a nice living trading, making more money than a person that went to school for many years and now is a lawyer. So we should be patience and learn and we may be paid good money for being patience and taking the time to learn. I you have any questions let me know

Regards.

[Las]

eurusd might be good time to enter a long trade.What do you think chintopinto?Thanks a lot for your help

[chintopinto]

eurusd might be good time to enter a long trade.What do you think chintopinto?Thanks a lot for your help

The fact that i don't like about this EUR/USD setup is that price traded below the TL you have drawn. The good thing is, that On the 4 hour chart, price has not close below the TL which is a good sing, price may move up from now.
But like i said before, it is just my opinion on the way I like to draw my TL

Regards.

[Las]

ohh urmm you mean the safest strategy is to wait for price closes below the TL?