What do you do when price approaches a major trendline? | Forex Factory

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What do you do when price approaches a major trendline?

  • #1
  • First Post: Feb 1, 2010 1:49pm Feb 1, 2010 1:49pm
When price in a strong trend on the 1H charts approaches a major trendline on the 4H or Daily chart do you...

anticipate a bounce and close and reverse your positions?
anticipate a breakout and hold on to your positions?
get out of the market and wait for the dust to settle and a new trend to develop?
cross your fingers, close your eyes and wish yourself "good luck"?

How do you trade this common trading situation?
  • #2
  • Feb 1, 2010 1:59pm Feb 1, 2010 1:59pm
Who says that you have to anticipate anything? Trade what is happening.
If you have to wish yourself "Good luck" you're doing something wrong.
  • #3
  • Feb 1, 2010 2:34pm Feb 1, 2010 2:34pm
watch
Invincibility lies in the defence, the possibility of victory in the attack
  • #4
  • Feb 1, 2010 2:34pm Feb 1, 2010 2:34pm
I run from the room screaming like a little girl.
  • #5
  • Feb 1, 2010 4:23pm Feb 1, 2010 4:23pm
Quoting aicccia
...do you...
None of the above.
I check my research that got me Into the Trade.

I don't Splash, I Trade.
BMc
  • #6
  • Feb 1, 2010 5:45pm Feb 1, 2010 5:45pm
I'm with these other guys... I wait to see what the market tells me, I check my research to determine what different movements will mean in the context of prevailing market conditions...

Then I run from the room screaming like a little girl!

  • #7
  • Feb 1, 2010 5:52pm Feb 1, 2010 5:52pm
watch what happens. respond accordingly. Price is king. He goes anywhere he wants. I just follow his lead.
  • #8
  • Last Post: Apr 9, 2010 2:30am Apr 9, 2010 2:30am
Quoting aicccia
When price in a strong trend on the 1H charts approaches a major trendline on the 4H or Daily chart do you...

anticipate a bounce and close and reverse your positions?
anticipate a breakout and hold on to your positions?
get out of the market and wait for the dust to settle and a new trend to develop?
cross your fingers, close your eyes and wish yourself "good luck"?

How do you trade this common trading situation?
Anticipate a breakout and hold on to my positions. If there will be breakout, it's a chance to have strong trend.
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