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Drawing Correct Trendlines

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  • #41
  • Jan 26, 2011 4:47pm Jan 26, 2011 4:47pm
Quoting PutaMadre
Hej Aediaz!

Great thread you launched here! Want to share some of the trend line approach i have noticed today on eur/jpy pair, TL has 3 touches yet + some MACD divergence. Lets see how it will play out after the break

P.s. just noticed that it took about 3 weeks to form it, and classical DOW theory tells that minor(near term trend) usually last less than 3 weeks.
Thank you. Great eye, I was about to post this setup but you seem to be faster than than me lol
Measure twice, cut once
  • #42
  • Jan 27, 2011 4:58am Jan 27, 2011 4:58am
Same for EUR/AUD on 4hr. Target @ 1.3350
Attached Image (click to enlarge)
Click to Enlarge Name: euraud_h4_ascending_01272011.jpg Size: 86 KB
  • #43
  • Jan 28, 2011 9:55am Jan 28, 2011 9:55am
Quoting PutaMadre
Hej Aediaz!

Great thread you launched here! Want to share some of the trend line approach i have noticed today on eur/jpy pair, TL has 3 touches yet + some MACD divergence. Lets see how it will play out after the break

P.s. just noticed that it took about 3 weeks to form it, and classical DOW theory tells that minor(near term trend) usually last less than 3 weeks.
Got broken finally, i guess everything worked exactly how it should, except that tinny fallse break Anyway it would not very clever to sell on it, as the real break ussualy goes after a some retracement among the line...
Attached Image (click to enlarge)
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  • #44
  • Feb 4, 2011 4:00pm Feb 4, 2011 4:00pm
Quoting belekas
Same for EUR/AUD on 4hr. Target @ 1.3350
And 6 days later 1.3301
  • #45
  • Feb 9, 2011 1:59am Feb 9, 2011 1:59am
Here is a case on GBP/USD;
Attached Image (click to enlarge)
Click to Enlarge Name: $GBPUSD (240 Min) 2_9_2011.jpg Size: 48 KB
Measure twice, cut once
  • #46
  • Apr 12, 2011 11:25am Apr 12, 2011 11:25am
Hey aediaz1,

Really Awesome thread you got going around here...by any chance would you mind if i crash in with a question on drawing a correct trendline??






-There are no such thing as mistakes in life...only lessons- Robin Sharma
There are no such thing as mistakes in life, only lessons. - Robin Sharma -
  • #47
  • Apr 12, 2011 11:40am Apr 12, 2011 11:40am
Quoting sibeiho
Hey aediaz1,

Really Awesome thread you got going around here...by any chance would you mind if i crash in with a question on drawing a correct trendline??






-There are no such thing as mistakes in life...only lessons- Robin Sharma
Hi there and thank you. Sure, go ahead.
Measure twice, cut once
  • #48
  • Apr 12, 2011 12:05pm Apr 12, 2011 12:05pm
Quoting aediaz1
Hi there and thank you. Sure, go ahead.

Thanks aediaz1....


[IMG]file:///C:/Users/Gabriel/AppData/Local/Temp/moz-screenshot.png[/IMG][IMG]file:///C:/Users/Gabriel/AppData/Local/Temp/moz-screenshot-1.png[/IMG]
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.jpg Size: 103 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15.jpg Size: 93 KB



On the EURUSD 1hr chart i spot three clean touches on the line....seems to me the opportunity awaits for the fourth touch....

but as i drill down to the EURUSD M15...i noticed the third touch wasnt clean...would you still consider this as a third touch on the 1HR??


Really Appreciate your thoughts and comments if any
There are no such thing as mistakes in life, only lessons. - Robin Sharma -
  • #49
  • Apr 12, 2011 12:15pm Apr 12, 2011 12:15pm
Quoting sibeiho
Thanks aediaz1....


[IMG]file:///C:/Users/Gabriel/AppData/Local/Temp/moz-screenshot.png[/IMG][IMG]file:///C:/Users/Gabriel/AppData/Local/Temp/moz-screenshot-1.png[/IMG]Attachment

Attachment


On the EURUSD 1hr chart i spot three clean touches on the line....seems to me the opportunity awaits for the fourth touch....

but as i drill down to the EURUSD M15...i noticed the third touch wasnt clean...would you still consider this as a third touch on the 1HR??


Really Appreciate your thoughts and comments if any...
I count it as a touch if price is (less than) 5 pips ahead of the line.

Btw, on my feed its a perfect touch even on 15m chart;
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (30 Min) 4_12_2011.jpg Size: 51 KB
Measure twice, cut once
  • #50
  • Apr 12, 2011 12:38pm Apr 12, 2011 12:38pm
Quoting aediaz1
I count it as a touch if price is (less than) 5 pips ahead of the line.

Btw, on my feed its a perfect touch even on 15m chart;

Awesome...thanks for sharing your view aediaz1!....

think its time for me to change broker
There are no such thing as mistakes in life, only lessons. - Robin Sharma -
  • #51
  • Edited 1:18pm Apr 12, 2011 1:01pm | Edited 1:18pm
Quoting sibeiho
Awesome...thanks for sharing your view aediaz1!....

think its time for me to change broker
You're welcome

Not the most expensive investment to get proper charting.
Measure twice, cut once
  • #52
  • Apr 12, 2011 1:09pm Apr 12, 2011 1:09pm
hi all..im newbie in this..may i ask if we want to draw trendline, is the line touch wick of candle or only at close price...sorry for bad granmar,,i dont use to speak english
  • #53
  • Sep 3, 2011 10:05am Sep 3, 2011 10:05am
Hi aediaz1,

could i just borrow your wisdom for a while...would this picture validate as a diamond? if so does the possible right bottom makes any sense at all?
Attached Image
There are no such thing as mistakes in life, only lessons. - Robin Sharma -
  • #54
  • Sep 17, 2011 9:35am Sep 17, 2011 9:35am
Quoting sibeiho
Hi aediaz1,

could i just borrow your wisdom for a while...would this picture validate as a diamond? if so does the possible right bottom makes any sense at all?
Hi.

It seems very good. How did the diamond turn out ?
Measure twice, cut once
  • #55
  • Sep 17, 2011 12:06pm Sep 17, 2011 12:06pm
ive not read the whole thread, but I think rather than pointing out how to draw a trendline, you should ask yourself the question what is a trendline? and why do they tend to support price? When you understand this, you will have a much better idea of if a trendline break means the trend has changed or not.
  • #56
  • Sep 17, 2011 12:21pm Sep 17, 2011 12:21pm
Quoting NaughtyPip
ive not read the whole thread, but I think rather than pointing out how to draw a trendline, you should ask yourself the question what is a trendline? and why do they tend to support price? When you understand this, you will have a much better idea of if a trendline break means the trend has changed or not.
I can understand some of what you say. But consider following; would you rather focus on what fishing is or how to catch your own fish?

People have different motivation for entering the Forex market and I respect that. Me, I'm all here for the profits.
Measure twice, cut once
  • #57
  • Sep 18, 2011 8:04pm Sep 18, 2011 8:04pm
Thanks for posting this simple and easy to follow tutorial! Lots of people have different "rules" for draw trend lines. For example can pass through wicks but not through price bars or as you've defined ect. This makes it vary difficult to learn for a newbie... From now on I'll use this method for whenever I draw TL's.
  • #58
  • Sep 22, 2011 7:13am Sep 22, 2011 7:13am
Quoting aediaz1
I can understand some of what you say. But consider following; would you rather focus on what fishing is or how to catch your own fish?

People have different motivation for entering the Forex market and I respect that. Me, I'm all here for the profits.
I agree with what you say, i guess i was trying to say it in the wrong way. From my own personal experience i find it hard to follow instructions unless i know exactly what the underlying theory is. What I should have said is once you really understand the concept of a trendline, its easier to follow a certain methodology on how to draw them.
  • #59
  • Last Post: Dec 24, 2017 10:57am Dec 24, 2017 10:57am
İ have just made this video in order to help some traders to draw trend lines. Couldn't find better thread to upload it.

Hope it will be helpful.

P.S. Sorry for side voices)) Any questions or comments will be appreciated.

Inserted Video
Think like an investor, Act as a speculator. Ferid H.
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