TTLC - "Indi" free trading

Hello Traders,

I've been off FF for a few years now, but recently I've gathered enough knowledge to come back with something worth sharing.

This is my TwTL trading (Trade with Trend Lines Channels)

I would say the technique itself looks simple, and drawing the chart is also quite easy, getting into the best trades is something that is not that hard either, while finding the right targets are quite easy. Finding trend turning points are not that simple, but I am trying to work on that. Got a few key signals on that which I'll try to properly explain and show you.

Please check the 1st Screen shot.



Drawing the down and up trend lines is explained on the screenshot.

Placing them is easy,

Down trend lines goes on the previous up trend "Highs"
Up trend lines goes on the bottom of the previous down trend "Lows"

Targets are the previous lows or highs. If there is no furthre reference like at a nice rally. You can use these guide lines to see where the price will go.

I tried to mark on this screenshot with blue the targets on this trend.



With magenta the absolute tops within a channel.

As you see we have a nice LH LL setup. With this in mind, if you mark your levels, its basically easy to find a nice entry near to the pink levels and aim to the blue lines. If your price does not cross the pink lines but crosses your dotted counter trend lines, you are good to go till your next blue level or to the next support/ resistance level.

On the 3rd Screenshot, you can see that there were 2 occasions where our new "low's" top was breached. These are those cases where we halt our horses and wait. We have to see where the price goes. It'll be probably a more robust counter move closing to our ultimate solid line. However, we still can add our counter line to the new low like at the circles and see if it gets crossed again, which would confirm that the trend is still on. And the price was just bubble up.



On the 4th Screenshot, you can see the a) b) c) markings, which are old absolute limits. The price eventually broke the Solid red supoprt lines, and that indicated a drop to the previous low as it re-confirmed the trend continuation.



The most recent limits are with solid blue as they still hold.

I'll try to add you more references later on.

Without further detailing and attaching more screenshots, let's see if you have questions, so I can update this post to have good instructions for the new comers.

Cheers

Current H4 Setup on the EURUSD, we have changed the trend as it broke above the recent "high" on the last channel. So we are off the shorts now and being patent, there are quite a few levels to break for a proper long trend.

I kept only the most necessary lines to show you how you can manage your chart to keep it clean.



We are really far from the ultimate "limit" the solid descending blue line, and I would not talk about long term bulls till that is broken, I would expect some sort of pull back, but I think eventually we'll continue to fall. We'll see.

To start sorting, we'll need a break of a new low in our current counter trend and the new TP is the current Low at 1.0785.

EURGBP acts nicely on the H1 Chart

If the Marked Low gets crossed TP will be the Solid Red line, if that gets broken the lowest price point at 0.82932

AUDUSD H4

Looks pretty neat!



I hope these screenshots will help you understand the way it works.

i am 10 years of forex expereinced.. this setup can also not help u to identify trend... it is also failed as indicators

this should confuse u many time , and specially , what SL And what TP ?

What you say, just as you say!

Basically we could say this whole thing I draw up makes no sense, where as it uses basic price action and simple trend following, Its maybe harsh to say "trend" we can call it like a current "wave", but check the screen shots and read the first posts on what is it about and you'll see that actually it works.

Let me attach the Cable now.

The red dotted lines show how the ultimate limits changed and the solid blue ones are the final limits.



We can see how the price reacts to these channels.

I've been trying to find some background to this what I've been doing, and the closest is how Andrew's Pitchfork works, but I am using different levels to identify the parallel channels.

This is something I came up with on my own. Feel free to evaluate. I hope it brings you some Pips ;-)

Sorry I forgot to answer the SL and TP.

I think its self-explanatory. The previous High's and Lows marked with the thick gray lines. If there is no new High or new Low to use as a TP then comes the dotted lines like in the first few examples.

But the SL is something I don't want to give advie on, cause some ppl use ratios or percentage they like to risk, I would say, use something that worked for you if you don't trust my setup. If the SL is too far, either skip the trade or wait till the price gets closet and makes your SL smaller.

Honestly I actively whatch my trades and don't leave it without attention till it gets to a point where I can safely move my SL in positive. So I can leave it hanging. I use these channel lines to set and determine it.

TP can also be the actual value at the dotted line right below or above the price depending on its current direction. Like if you capture the actual value, but it takes 10-12 candles till it reaches the dotted line, probably you could've adjusted your TP further on your favour, but for that you need to be online always. So its safer to leave it on a more possible value.

I hope this helps to clarify it.

Also I've been in forex since the last 8 years. And I've always felt that news are like , not actual news but like explanations to the current price movements. And I don't believe that things happen just all of a sudden. Also I don't believe in indicators, since everyone uses them so brokers and decision makers can speculate on what most people would do based on them, hence its easy to manipulate the price.

I believe what I see, and that is the price only and the single thing that is consistent in most of the trading systems is that people accept the fact of channels. This is where the basic idea came from.

Best Regards

I traded almost similar way earlier, I had a Fibo Expansion too.

It was like this, some guy from India traded like this and called them as dynamic trendlines, I added Fibo Exp for targets.
It is good, works in every timeframe. Always trading with the trend, just cannot lose.

Hi,

Thank for sharing! As I see you are using the fibo and the time-frames to make your grid. I am using a bit more precise way. I'll be sharing further charts next week.

bro can you share your expereince with us ?

I think this played out quite well!

Here is one on H1 about it to see it more closely

GBPUSD Is quite surrunded, worth keep an eye on it! Blue levels are key TP points and can indicate a nice rally!

Possible turn around on AUDUSD as well