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

[epsilon43]

I agree, it will be good to get this going again. I see you are doing well on the Euro!

[GoldenEye]

Hey everyone!
Just wanted to introduce myself and say thanks to Edward, Myronn and everyone here contributing to what seems to be a great strategy.
I am one month old in forex. Been papertrading with some success and very keen to try this one out.
Thanks for all the great posts. It really helps to see what you guys are doing.
Hope you all have lots of winners and hopefully soon I'll be able to contribute.

[GoldenEye]

Hi Azadall,

Just wondering about the trade you took on the Euro which leads me to this question.
How do you determine the main trend as it relates to time?
Since 2001 the trend has been up (as far as I can tell) but since mid 2008 it has been moving down to what could be considered the main up trend line.
Or am I wrong and is mid 2008 actually a reversal?
You took a short position against the main trend.
What I am trying to understand is at which point do you consider a trend to be the main trend?
This will according to the system totally change the way I place trades.
For three years the trend has been down, but in an overall up trend - or am I wrong.
I would therefore not have taken the trade you have because that would have been against the rules of the strategy.

So, could anyone maybe clarify or give some advice as to when/how to consider if the MAIN trend is up or down.

Appreciate your feedback.

Edit: I understand higher highs/ higher lows = up and vice versa, but when you move back to a main trend line is this not what is happening ( a reversal to the main trend line).

[toinou21]

I just spot an opportunity on the AUD/USD on the daily timefrime. but Im really not confident on this one. let's see how it reacts to the trend line, then maybe we can switch to smaller time frame and get a better entry.

[GoldenEye]

Also been keeping an eye on that one, but that Head & Shoulders bothers me a bit.
Lets see.

[GoldenEye]

Spotted this one on the NZD/USD daily, but it seems the dollar is doing well lately. Not sure if this is a good one.

[toinou21]

On the trade i post earlier, AUD/USD i took 50 pips and then hit the take profit, as I said i was not sure about this trade, so 50 pips is good enough for me. Also i'm trading on a demo account then i think i will never take this trade on a real account. i lack of confidence. Now i'm looking for NZD/Usd, waiting on the time frame 4h the candled to close bullish.

[azadali]

Hi Azadall,

Just wondering about the trade you took on the Euro which leads me to this question.
How do you determine the main trend as it relates to time?
Since 2001 the trend has been up (as far as I can tell) but since mid 2008 it has been moving down to what could be considered the main up trend line.
Or am I wrong and is mid 2008 actually a reversal?
You took a short position against the main trend.
What I am trying to understand is at which point do you consider a trend to be the main trend?
This will according to the system totally change the way I place trades.
For three years the trend has been down, but in an overall up trend - or am I wrong.
I would therefore not have taken the trade you have because that would have been against the rules of the strategy.

So, could anyone maybe clarify or give some advice as to when/how to consider if the MAIN trend is up or down.

Appreciate your feedback.

Edit: I understand higher highs/ higher lows = up and vice versa, but when you move back to a main trend line is this not what is happening ( a reversal to the main trend line).

Hi GoldenEye,
I'm new to forex so still learning. The way I look at this trade was the trend was donward on the h4 chart. On the daily chart the overall trend looked upwards but short term trend was downwards. On my trades I wouldnt go as far back as 2001 to check the trend to be honest. the price was in between the 2 trendlines I drew and once it touched the upper trendline I used the lower time (m15 charts) to enter the trade. The target was the lower trendline. I moved my stop loss to lock in some profit but got closed out. if you look at the chart again you can see that it did reach the lower trendline and went right through it. I made about 50 pips out of it but maybe an experienced trader would have had the skills to wait for it to go down more and make a lot more from it.

Sorry if its not clear as to how I traded the pair but Im still learning and traded what I saw!!

[toinou21]

I just close one position that i took a week ago with gbp/jpy from 133.22 to 129.98 until now with this strategy i succeed 4/5trades on November. I made a mistake on Eur/usd.

[GoldenEye]

Hi azadali,

Thanks for the reply. Was just interested to know how far back you would go to assess the main trend line.
Also very new to FX but learning from everyone here.

Good luck!