Hi,
Well done forexgenius and iffy!! You have completely mastered drawing the trendline.. Great job dude..
Some suggestion i may add: it will be better if you draw trendlines not only from one TF, i suggest you go to higher timeframe, and begin to draw trendlines there, and then going to the lower and draw trendlines again. I myself start with weekly, then going to daily, and then on 4H. Then you trade on 4H, and sometimes you can do jump-start by looking at 1h to get early entry. This will help a lot, especially if you in a middle of trade and you spot a trendlines from higher TF, then you should watch those lines that may be act as support/resistance line. Other than that, one key power to this method is patience. I've so many times losses that i actually could avoided, just because the uurge to trade. Remember, it's better to have a week with no trade than a week full of negative trade. This patience, we will have to learn from such master like Dra, Mike, and Soya..hehe..
Oya, here, i just want to ask a question to a more experienced trader of this method:
"If at a time, the price is moving toward an intersection of a trendline from 4h and trendline from daily/weekly (higher TF), does the higher trendline have stronger effect in term of support/resistance? And what would you do in this situation, do you wait for price to breaks both trendlines or do you trade based on higher TF?"
Thanks..
Happy pipping..
Well done forexgenius and iffy!! You have completely mastered drawing the trendline.. Great job dude..
Some suggestion i may add: it will be better if you draw trendlines not only from one TF, i suggest you go to higher timeframe, and begin to draw trendlines there, and then going to the lower and draw trendlines again. I myself start with weekly, then going to daily, and then on 4H. Then you trade on 4H, and sometimes you can do jump-start by looking at 1h to get early entry. This will help a lot, especially if you in a middle of trade and you spot a trendlines from higher TF, then you should watch those lines that may be act as support/resistance line. Other than that, one key power to this method is patience. I've so many times losses that i actually could avoided, just because the uurge to trade. Remember, it's better to have a week with no trade than a week full of negative trade. This patience, we will have to learn from such master like Dra, Mike, and Soya..hehe..
Oya, here, i just want to ask a question to a more experienced trader of this method:
"If at a time, the price is moving toward an intersection of a trendline from 4h and trendline from daily/weekly (higher TF), does the higher trendline have stronger effect in term of support/resistance? And what would you do in this situation, do you wait for price to breaks both trendlines or do you trade based on higher TF?"
Thanks..
Happy pipping..