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

[simpleforex]

update on the eurusd trade, got stopped out with 27pip loss. big move upward with the TL break.

[il brigante]

I got stop out on this trade and I am looking for the right set up to go long on audusd

[simpleforex]

USDJPY trade is still going good.also entered a 2nd trade on the break of a support level.

[simpleforex]

placing a pending order on audusd, there might be a bounce upward on the previous resistance now turned possible support levels.

[simpleforex]

Possible retest of broken trendline.im expecting an upward bounce off the trendline.

[simpleforex]

pending buylimit order on gbpusd
expecting an upward bounce off previously broken resistance level.

[il brigante]

I've got a question for simpleforex if you do not mind. When you enter on the 15 TF, do you place a buy/sell stop order 5 pips above/below the last candle as for the method or do you use less pips above/below the candle that intersect with the trendlines? Also do you alway consider at least R/R 2 to 1 when you enter the trade? Because I also looked at gbp/usd but on my calculations R/R is less than 2 to 1. Thank you.

[simpleforex]

I've got a question for simpleforex if you do not mind. When you enter on the 15 TF, do you place a buy/sell stop order 5 pips above/below the last candle as for the method or do you use less pips above/below the candle that intersect with the trendlines? Also do you alway consider at least R/R 2 to 1 when you enter the trade? Because I also looked at gbp/usd but on my calculations R/R is less than 2 to 1. Thank you.

usually 5pips below/above the last candle.sometimes i give a bit more "room" as I dont want to place too close and my order gets activated only to reverse in the opposite direction. i apply a bit of discretion, if you may call it that way.

Yes, i do consider the R:R but most often, my Risk is usually considered in the smaller timeframe(small risks) but i have a big picture view of my reward. that means if i enter on the 1hr timeframe, i identify areas where i can get my profit in the one hour but then I also switch to the 4hr and daily and ask myself" can the price reach this level/area?" if i think it would, then I dont place my profit target on the 1hr tf but place tp target in what i see on the larger timeframe. then i manage my trade in the 1hr tf, that means moving my stop loss to above/below peak/troughs to lock in my profits as price goes in the direction anticipated. if i get stopped out while heading form my larger timeframe reward, then at least i would have got a lot more profit then i would have if i had set my tp target in the smaller tf. a good example is the the usdjpy trade i took almost a week ago. i saw the upward significant trendline got broken, then i waited for an opportunity to go short in a smaller timeframe which i did on the 1hr tf then managed my trades in the smaller 1hr tf

hope this helps

[simpleforex]

got stopped out with audusd trade with 28pips loss and 22pip loss on gbpusd as per yesterday's post.

im long on AUDUSD with a trade i took this morning. im also placing a sell stop order under the tl below the candle that touched the tl. see next chart for the reason why.

[simpleforex]

because of the railway track pattern on the daily, im also looking for an opportunity to go short on audusd.it is one of the best reversal patterns. when you combine these two INTO one candlestick patten, you get a very long SHOOTING STAR candlestick.