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

[il brigante]

gbpusd is going my way, I entered at 1.5402 with a SL at 1.5343, now I moved my Sl to 1.5420

[simpleforex]

got stopped out on the eurusd trade with a 27pips loss. there is another opportunity to go short presenting itself as well.im placing a pending order.will see how this pans out tomorrow.

[simpleforex]

EURUSD sell limit order placed yesterday got activated. the area of entry is close to where the pair is almost touching the downward trendline. will check tomorrow and see if this downward trendline holds.

[simpleforex]

how's the usdjpy trade going?

[maudur]

Simpleforex,

How do you move SL? Do you use trailing stop? And Do you always set Take Profit?

Thanks

[simpleforex]

Maudur,
my stop loss moving techniques:
(1) when trade is profitable, i move stop loss behind PEAKS/TROUGHS.
(2)if there is a big price move and no obvious peaks or troughs, i find significant areas of support or resistance that is broken and move my SL just above/below it.the reasoning for this is that if price comes back to this support/resistance level, it has a high probability of going back in the direction where it was headed originally and so i place my SL a little above/below this areas of S&R.

[maudur]

Maudur,
my stop loss moving techniques:
(1) when trade is profitable, i move stop loss behind PEAKS/TROUGHS.
(2)if there is a big price move and no obvious peaks or troughs, i find significant areas of support or resistance that is broken and move my SL just above/below it.the reasoning for this is that if price comes back to this support/resistance level, it has a high probability of going back in the direction where it was headed originally and so i place my SL a little above/below this areas of S&R.

Excellent, and that about TP?

[il brigante]

I am out of this trade, 76 pips made. To be honest I thought that this pair was going to go higher but did not, finding resistance at the minor downtrendline. I trailed my SL below to the latest swing low.

[il brigante]

I am short audusd

[nlenz]

That's a nice looking rising wedge in the audusd. Thanks for the idea - I think I'll short it, too. (But the SL has to be pretty big, because these wedges can have long tails).