I am having a problem with the H/A candles on the charts. I have tried to change the settings in the chart properties and any number of different things. Does anyone have any suggestions?? Thank you in advance.
I use with H/A candles and have been succesful. I really have found to be great. I usually add horizontal line at 50 and 100, great as support or resistance.
I use with H/A candles and have been succesful. I really have found to be great. I usually add horizontal line at 50 and 100, great as support or resistance.
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Could you exsplain what the H/A candles give for you..? thanks
Hi Josef, Hi all and thanks for the great thread. I really believe this is one of the methods employed by the likes of Soros, the other one being even simpler: MA crosses.
This method can be applied to all markets / time frames. I am posting a trade that got triggered this afternoon (CET) on us crude oil. Working time frame daily and 4h. Got in at 75.55. I have just set a sl at BE + 10 pips, since it went very fast very. Note the divergence on the RSI which gave me confirmation of the trend change.
I agree with Josef that one should only go one direction at a time, but my direction is given by the longer term trend of the object at hand.
It's been interesting method. From the sample that some of you attached,
it's look very simple but my question, from where to where we should pull the trendline because if you mistake choose the point, you may have wrong trendline.
I personal just draw my trend like most chart that been posted and wait for price action to cross it and for extra confirmation I wait until candle close to make entry, this technique works on all time frams I been using it since I started forex about 1 1/2 yr i really don't use anything else it as simple support and resistant breakouts. Good luck to all.
Simple is fine. Only thing I don't like about regular trendlines is they're not precise or warranted. Draw a trendline attached at top or base of candles tied into a significant event (news, a really big or tiny move, etc.), and you no longer have to deal with their freehand nature.
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If you have an established trend on a high timeframe - say Daily or weekly, and switch down to a lower TF - say hourly, would it be best to have a bias toward the long term trend? Would market moving news be in line with the longer established trend? Haven't had a close look at this. I've been using EMA(22) to establish a trendline, and seems to work well for direction as well as providing areas of support and resistance.
I just want to post a trade I took today, not sure everyone will agree that it's a trend line break but the break was what I based the trade on.
Price tested a S/R level from Thursday and this was around the fib .50. The daily pivot was above... just as it happens today the pivot fell on a whole number so it could be said it would be a extra hard level to break. After price retested the S/R level and when a candle closed above the pivot/whole number I entered.
Here is my trade of the day. Entry was on the candle with orange circle around it, good trendline break and closing above the daily pivot. As it worked out I guess you could have entered off the B.S.TL.B., hammer and support off the daily pivot .... But hey I have no crystal ball and am happy to get the pips the way I did!
Who knows this system or strategy? (Quien conoce este sistema u estrategia?)
Is the same or similar to what has been posted here? (Es similar a la que se esta posteado aqui?
Trendline Break (The Only System You Need)
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