I am starting this thread for those who wish to exploit the trends on any pair or time frame. Post your charts, entries, targets...etc
Daily Bar Analysis - All Pairs/All Welcome 15 replies
Trend Trading All Currency Pairs 3 replies
DislikedThe system I use is rather basic, I will post some charts, I use 3 SMA lines, set up as a 30 SMA 50, and 100, and those help me determine the if we are trending or not, let show you with a couple of charts one showing a trend and one that is not trending. What I look for is for ALL of the MA lines to be parallel and pointing in the same direction. If the lines are crossing and all over the place then the pair is not trending on that time frame. Notice how lines are nice and parallel and all pointine in the same direction...Ignored
DislikedThe reasion I use the MA lines is because they are dynamic and they will move with the pair, markets are not perfect, and just playing off the straight trend lines...well those are breached many times and and can be difficult to use consistantly, however they do have thier place and I will go over that very soon. The MA lines can tell you a lot about the how healthy the trend is, the 100 MA is one I watch very close, if that starts getting tested then there is a possiblity the trend could be running of gas...Ignored
DislikedNow how do I determine when to trigger a trade...well here is how I do it, I will draw my trend lines and look to make sure on the setup chart that we are in the area of the MA lines and that we have our confluence of S/R in that same area, now I will switch to a smaller time frame, usually I use a divide by 4 rule, if we are on the hourly chart for a setup chart then I use the 15 minute chart for a trigger chart that way you can see the price action better. I wait for the price to break the counter trend line and then I WAIT again but this time...Ignored
DislikedGood job NightMoves,
there is still something to learn from each other, especially good entry points to determine,
keep going bro coz there is always someone to look for suitable strategy for himself.
DislikedSo basically here the rules for this system when looking for an entry point:
1. MA's must parallel and pointing in the same direction
2: price must be in the area of SMA lines to look for an entry
3: There must be a confluence of support and resistance in that area, Fib number, previous swing high or low, round numbers, trend lines...etc
4: Wait for the pullback and continuation formation on the trigger chart.
5: Set stops above the pullback on a down trend and below on an uptrend and do not move them.
I will post charts showing this entry...Ignored
DislikedThanks for starting a new thread NightMoves!
I will give it a try and I will try to post my charts here to discuss it before I open a trade
I have a problem following the rules so I keep losing I know this is my problem, I need something that would keep me away from opening trades in a wrong moment, it all takes practice, practice and practice
I am really trying hard