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

[youngtraders]

Thank you cpr! My first suggestion is EUR/AUD on 4h. The price touched the trendline many times before, but I think it will work. An attachement will follow.

ps: Last time I`ve got the feeling, that it is difficult to find signals, it doesn`t matter in which timeframe. I was wondering how much trades Myronn did on one day.

[cpr]

Thank you cpr! My first suggestion is EUR/AUD on 4h. The price touched the trendline many times before, but I think it will work. An attachement will follow.

ps: Last time I`ve got the feeling, that it is difficult to find signals, it doesn`t matter in which timeframe. I was wondering how much trades Myronn did on one day.

Well. I have been watching this pair for a long time. I missed my long entries at the all time monthly low 2 times.

It broke previous monthly low by establishing new monthly low. But quickly moved up. based on H4 chart, it looks like, we can trade this on 2 ways.
1. Short entry - right where it is (1.4360)
2. Long entry - right entry where it is. (1.4360)

For short the target would be last monthly low - 1.4212 (148 pips gain)
For long the monthly would be - previous swing high - 1.4456 (96 pips gain)

Sl can be 50 pips either way.

[youngtraders]

realy good idea with long trade, because when you look on 30 min charts you see an up-trend, and also a trendline that works!!!

I always try just to work with zigzag indicator, but when you see macd on 30-min, it shows divergence. (cannot upload bmp-files! which format do you use?)
So I will place a short order when price leaves the trendline (on 30 min) downhill.
Stopp-sell around 1,4280-1,4290.


whats your opinion on that?

[cpr]

realy good idea with long trade, because when you look on 30 min charts you see an up-trend, and also a trendline that works!!!

I always try just to work with zigzag indicator, but when you see macd on 30-min, it shows divergence. (cannot upload bmp-files! which format do you use?)
So I will place a short order when price leaves the trendline (on 30 min) downhill.
Stopp-sell around 1,4280-1,4290.


whats your opinion on that?

Well, I have not looked at 30 min chart of macd.. however, I just read the following about EA agreement:

Code: Select all

Forex traders need to be at the work station 17:00 ET on Sunday, in anticipation of the European Union agreement to create an emergency fund that will be charged with halting the risk of debt contagion and Euro weakness spreading further than it has already done so. Leaders of the 16 euro countries said the workings of the financial backstop will be hammered out before Asian markets open late tomorrow European time.

European officials declined to disclose the size of the stabilization fund, to be made up of money borrowed by European Union central authorities with guarantees by national governments. Finance ministers will meet at 15:00 ET on Sunday in Brussels to finalize the details. A press briefing is scheduled for 18:00 ET.

Eur/Usd signaled long on the 1-Hour chart, but did so right at the close of trade on Friday, and we are looking closely at moves from 1.2750 towards 1.2950 initially. How much of a gap is seen at the start is the unknown, but if the fundament announcement soothes invest worries, the long side of Eur, Gbp, Aud, may be seen. Right now, there is a mile of upside room to regain if global equity markets hold support

Hence I probably will not trade anything until I understand this agreeemnt.

[youngtraders]

Thats right, waiting until the markets go back to "normal"...this thursday destroyed all good patterns and trendlines...just the pairs eur/aud and eur/aud were untroubled by this... we should concentrate on lower timeframes...

[wirrison]

From my point of view, this strategy goes on, even during uncertainty like the Greek EU crisis. THE BEST PAIRS TO WATCH ARE THOSE WITH BIG INTEREST RATE DIFFERENTIALS. THESE WILL ALWAYS TREND REGARDLESS OF THE WEATHER. HOWEVER, THEY TEND TO HAVE BIG SPREADS. OTHER THAN THAT THEY ARE THE BEST MEDIUM-LONG TERM TRENDERS.

INTEREST RATE DIFFERENTIAL DEFINITION : http://www.investopedia.com/terms/i/int ... ential.asp

[cpr]

From my point of view, this strategy goes on, even during uncertainty like the Greek EU crisis. THE BEST PAIRS TO WATCH ARE THOSE WITH BIG INTEREST RATE DIFFERENTIALS. THESE WILL ALWAYS TREND REGARDLESS OF THE WEATHER. HOWEVER, THEY TEND TO HAVE BIG SPREADS. OTHER THAN THAT THEY ARE THE BEST MEDIUM-LONG TERM TRENDERS.

INTEREST RATE DIFFERENTIAL DEFINITION : http://www.investopedia.com/terms/i/int ... ential.asp

This strategy does work for any situation bcoz it follows the trend. The only point is that - on H4 chart, EURAUD is right at the descending tendline.

So there can be 2 options here - 1. Obeying trend line - so sell . This strategy suits sell.
2. buy - for this it has to break the trend line by forming new trend.. In that case, we need to wait until next swing low to enter a trade with this strategy.

Does this make sense ?

[cpr]

Forex traders need to be at the work station 17:00 ET on Sunday, in anticipation of the European Union agreement to create an emergency fund that will be charged with halting the risk of debt contagion

They seem to expect a strong rebound of EURO. Anyhow, the trend on EURUSD is down, down and down, so I do care about any buy signal on Sunday. I have seen statistics of other EU countries suvereign debt, and there is hardly ANY EU country that is safe, that spells EURO is finished on todays levels.

Right now, there is a mile of upside room to regain if global equity markets hold support

I guess this is what you get when people have the best education money can offer .... a lot of optimism and a basic belief that everything will be fine. This is the most ridiculous statement I have seen this year.

What I believe is that - if the agreement favors Greece, it might provide some temporary relief.. EUR might go litle up.. but I don't see in the near future it is going to change its down trend.. it will continue to be in down trend for some long time.. my 2 cents.. and I am no expert in fundamentails..

[cpr]

Well said.. I shorted EURO y'day for 100 pips.. looking for a opportunity today.

[youngtraders]

Please watch Cable, 1h frame. Trendline works. I short gbp/usd. traget is 1.4750.

ps: at the moment just problems with the attachments