Trendline Break (The Only System You Need)

Was'nt in on this M1 AUDUSD double cross - worth more than 50 pips.

Another double cross - this time the M1 GBPUSD - worth more than 50 pips

hi Kinko
can you elaborate more on your method, i feel i missing the clue

*for example the M1 AUDUSD chart, why you choose point A & B to draw trendline and not A & X = blue line i draw ?

*what exactly do you mean by "double cross"

*and how do you anticipate the break will be go up or break down

if you dont mind to answer and explain a bit, i thank you for it
mike

My definition of a double cross:

When you have two trendlines - one from the north(top) and one from the south (bottom) intersecting and you have the price line crossing both trendlines on the right hand side of the intersection and relatively close to the intersection. See the image for some examples.

A multiple double cross - very strong movement

I am drawing new trendlines as time goes by and deleting old ones no longer valid. So it is an ongoing process all the time. In this instance I only kept the two trendlines I wanted to highlight and deleted all the other - to show what I wanted without to much confusion
So to answer the question - At the time when X was formed I had a trendline from A to X.

Most of the times the trendlines will tell you where the price is heading. There are times when you have a clean break to one side and the price will turn around and create a double cross to the other side. And you will never know until it happens. To take advantage of this the first trade I do without a hard stoploss. In the place of the stoploss I will place a Buystop/ sellstop in the other direction with a volume of two or three times my initial trade. So when price moves against my first trade it will trigger the double or tripple volume trade in the other direction and I will in most cases kill both trades when they are equal - resulting in a net zero trade or small loss or small gain depending on the price movement. But it can backfire on you - so be careful with this kind of trading

i see
thx

will it be more accurate to apply this simple technique on higher time frame? like 4hr charts.

I see no reason why it cannot be used in the higher timeframes
See the GBPUSD weekly.

Hi Kinko.....based on your weekly chart is this will be your entry points (Buy , Sell ).......?

Yes - price must close on the other side to be valid - sometimes price will cross both lines but turns back and close inside the triangle - wait for it to close on the outside of the triangle.

adding this thread to my "must visit" bag

lets see how this will work out

I don't normally trade the 4h chart, but in the following example, we have an ongoing trade from a trendline break (n.1) occurred a couple of weeks ago and that, if held, it would still be valid and would have cashed 600 pips so far. Of course, we would have to find the best strategy for a max TP. I'm testing a couple of indicators for exits.
As pointed out by Alihuzaifa in the previous post, there's another opportunity which MAY happen in the following days, that is the break of the 2nd upper trendline. Let's wait and see...

this makes complete sense to me.

OK lets see what is going to happen to these two after the double trendline break.

Edit: EURUSD and GBPUSD both failed

entry seems easy but what about exit? any body have any idea about it?

There's some odd looking trendlines drawn in there (top).

For exits I follow the trendline for trend trades. Counter trend, I use the approaching tl as a target. Just like rob bookers two trendy.

My exit was a bit premature on this trendline break but still 60 pips OK for today