Disliked500 Pips in 2 days.
For the newbys out there. This is the fist thing you learn when you first get into forex trading. Trendlines, Period. Just to show you how a trendline trade works. We got the bounce off of the Major DTL on the 20th that showed a nice Bearish Pin, ( Evening Star ) on the 4 Hr. You enter on the close of the pin, ( Green Line ), You place the stop above the pin, ( Red Line ), a modest 100 pips or so and let her rip. The pair came to the first UTL , broke thru and then tested the backside, ( X ). Then it bounced off that trendline and this morning broke the 2nd UTL and tested the back of that one, ( 2nd X ) and continued on down to where we could be looking at a classic Double Bottom. 500 pips and all you had to do is move your stop down. This is what they teach you in Forex 101. You dont always need indicators, sometmes trendlines its all it takes.JimIgnored
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC