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Trendline Break (The Only System You Need)

  • #281
  • Dec 7, 2010 6:35pm Dec 7, 2010 6:35pm
Took 27 pips on the bear... observing the bull move... bouncing at 38fib... This one is in my demo, no need to give back what I made.
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  • #282
  • Dec 13, 2010 6:15am Dec 13, 2010 6:15am
EU break out trade at BE targeting 1.3800
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  • #283
  • Dec 13, 2010 6:21am Dec 13, 2010 6:21am
EU 5 chart with some notes
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  • #284
  • Dec 17, 2010 11:07am Dec 17, 2010 11:07am
guys i am on holiday just went to my chart put my channel. EU went up and I draw my TL the last high where i noticed the pin bar looking forward to short for some pip . Shit I should have been in the real trade.

This was london about to close and us market open.
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  • #285
  • Dec 17, 2010 11:23am Dec 17, 2010 11:23am
Before drawing the EU5min chart for the channel I drew the H1 CHART for the last high in horizontel line to see will it reach their.

In HI I have double top also

Hit it hard if you have volume.
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  • #286
  • Dec 17, 2010 11:50am Dec 17, 2010 11:50am
We all now about news it moves back and forth 100 times and as an intraday trader I dont want to read a news which happened 5 hour and reported two hours after that by the time the chart will look different and if you go by that news to go long or short the pair you will feel sad about it.

News is good for us to get an overall judgment about the currencey but for you to get the pip (not talking about our calendar)

All you need is market to market direction which is provided in the chart.

Find out from your chart what was the previouse high or low of the last session and start connecting it and get the feel of the market.

M15 chart gives you in one view the 2 days worth of trading. I use M5 to get in and get out of the trade in minimum possible time.
  • #287
  • Feb 15, 2011 5:02pm Feb 15, 2011 5:02pm
I love trendlines but I have found for example when the market is ranging say on the hourly. It gets difficult to trade the 5 min. A nice established medium to long term trend works best for trend lines. IMO of course. Has any one ran into this same problem. I find that for things to clear up I have to wait till the hour makes a new high or low to draw new trend lines.
  • #288
  • Mar 9, 2011 5:23am Mar 9, 2011 5:23am
Quoting Fuzzyzc
I love trendlines but I have found for example when the market is ranging say on the hourly. It gets difficult to trade the 5 min. A nice established medium to long term trend works best for trend lines. IMO of course. Has any one ran into this same problem. I find that for things to clear up I have to wait till the hour makes a new high or low to draw new trend lines.
there are many different signals that a trendline can give, but its mostly tide together to the market cycle/session.

This isn't 100% ALL THE TIME.
Asian- trendline can be used as support-resistance- Bounce
London - Trendline normally becomes break out point- Break
US- Trendline can be break out then retest of support - Break + Bounce

so the time(news, market open/closing) has a big impact on what the trendlines wll display on the chart.

Agreed with the trendlines are great for trend direction. Bounce off support = $
  • #289
  • Mar 9, 2011 11:28pm Mar 9, 2011 11:28pm
Quoting pedram
hi you can see best sample trend lines and triangle methot by trend line in this address
forums: http://www.khamesi.com/html/history.html
account history:http://www.khamesi.com/html/history.html
treader site address :http://khamesi.com
trend line by mat.. methode teach : http://www.khamesi.com/html/tformola1.htm
and : http://www.khamesi.com/html/matt2.htm

http://www.khamesi.com/images/a-4.gif
tanx
How does this system work. I can only read english.
  • #290
  • Mar 10, 2011 1:18am Mar 10, 2011 1:18am
I've tried many different trading strategies, but I keep coming back to basic trendlines. They really seem to fit with my style of trading. However, the one problem I always have is getting out of a trade too early. Can anyone share their methods of exiting a trade. I really need some help in this area.

Thanks
Gembug
  • #291
  • Mar 30, 2011 1:32am Mar 30, 2011 1:32am
Quoting gembug123
I've tried many different trading strategies, but I keep coming back to basic trendlines. They really seem to fit with my style of trading. However, the one problem I always have is getting out of a trade too early. Can anyone share their methods of exiting a trade. I really need some help in this area.

Thanks
Gembug
To avoid getting out too early i close only half the position at certain point, and the second half i move to BE and then its a let it go...hit my BE or my second target...i dont care risk is ZERO
Buying Tops, Selling dips xP
  • #292
  • Mar 30, 2011 9:19am Mar 30, 2011 9:19am
How to stay in longer?

Have a goal and follow through. Use TP and SL and trailing stops,

in the photo below, I entered two more positions with Trendline breaks to average down into this long position. The Tp is in play and a trailing stop will adjust SL as needed.

I will have to walk away and let the market do its thing, otherwise I too would be closing too early for small pips.

when i come back in the asain session, i will readjust if needed by adding More, or tighten SL if the LONG position does not look possible in the next week. I'll have to wait for further PA to draw Trendlines again->> once drawn I'll be able to set this up for another day, and see what happens.
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  • #293
  • Mar 30, 2011 10:31am Mar 30, 2011 10:31am
Quoting gembug123
I've tried many different trading strategies, but I keep coming back to basic trendlines. They really seem to fit with my style of trading. However, the one problem I always have is getting out of a trade too early. Can anyone share their methods of exiting a trade. I really need some help in this area.

Thanks
Gembug
Trendline is great, but sometimes once u got the wrong trend, you get it all wrong. Best is u draw the trend of a bigger timeframe first. Don't micro to mini trends.
  • #294
  • Mar 30, 2011 10:33am Mar 30, 2011 10:33am
Quoting Empyrium
To avoid getting out too early i close only half the position at certain point, and the second half i move to BE and then its a let it go...hit my BE or my second target...i dont care risk is ZERO

Nice nice strategy, i presume you enter big contract size??
  • #295
  • Mar 31, 2011 8:11pm Mar 31, 2011 8:11pm
Quoting Empyrium
To avoid getting out too early i close only half the position at certain point, and the second half i move to BE and then its a let it go...hit my BE or my second target...i dont care risk is ZERO
Empyrium,
Thanks for your response. I will certainly give that a go. Makes a lot of sense to me.
What do you use to determine your 2 different profit targets? Are these fixed prices or determined by price action?
Thanks
  • #296
  • Apr 2, 2011 3:48pm Apr 2, 2011 3:48pm
Quoting gembug123
I've tried many different trading strategies, but I keep coming back to basic trendlines. They really seem to fit with my style of trading. However, the one problem I always have is getting out of a trade too early. Can anyone share their methods of exiting a trade. I really need some help in this area.

Thanks
Gembug
I use defined support and resistance lines drawn from the previous OHLC, monthly, weekly, daily.. add that to your daily pivots lines. Second, look for "well defined" areas where support turns to resistance or resistance turns to support on the time frame you are trading M5, H1, etc. You will need to exapand your chart ( add more candles - looking left ) in order see these areas more clearly...This will give you targets to shoot for. Much easier to stay in the trade that way. You will also begin to see where multiple lines are close to one another.. Areas of major support or resistance. You will also notice sometimes you will have a lot of room for the move, other times not so much. Areas where price will most likely stall ( great if you are trading multiple lots ) and possibly keep moving.

Great thread here ...!!!
  • #297
  • Jul 26, 2011 2:30pm Jul 26, 2011 2:30pm
This was the GJ chart M15 drawn yesterday and noticed that the Lower Trend line provided support three times and the target was met. had good swing up and down.
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  • #298
  • Jul 26, 2011 2:44pm Jul 26, 2011 2:44pm
This is my EU M15 TL drawn. If there is down ward pressure the candles can cross the TL and move towards 1.4450 again a sold support area
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  • #299
  • Jul 27, 2011 7:50am Jul 27, 2011 7:50am
Eu m15 current chart
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  • #300
  • Jul 28, 2011 8:17am Jul 28, 2011 8:17am
Fake breal out from TL before the fall
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