Simple Simon Balance Line Trading

Quoting Thu

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eurusd is moving! look at 1 H chart

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Quoting Colostarr

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That is a really good observation. It also moves on the 4h chart, the 30M chart, the 15M and and OH yes it also moves on the daily chart!

Sorry - couldn't help myself!

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Quoting Colostarr

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My friend it is apparent that you did not read too much of this thread before asking this question. Click the below link and go to post #133

http://www.forexfactory.com/showthre...=297418&page=9

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Quoting frollollc

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Here is a chart I marked up of recent price action of AUDUSD on the 1 hour chart. It shows both good and bad angulation.

Attachment

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Quoting Colostarr

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I set this trade up on Friday. I used a few different indicators to confirm this trade (both oscillators).

This is called the "Angulation Trade" and is one of Bill Williams favorite trades.

This is also the premise of the approach to the balance line. Look for divergent candles that close at a steep angle from the Blue line. Set your pending order (which in this case for me - took 2 trading day!)

It triggered last night - currently at +26 pips with 10 pips locked in.

If you haven't already done so - Get the book Trading Chaos Second Edition!...

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Quoting frollollc

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I have a question....First, a trade is signaled and then triggered. Then, soon afterward, and before the stoploss is hit, a trade signals and triggers in the opposite direction. Should we exit the trade (but not take the new trade)? ...or should we wait until the original stoploss is hit?

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Quoting paqtrade

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Hi Colostarr,

Do you think this would be a good entry for an "Angulation Trade"? (Long EURCHF)

Thanks,

Jerry

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Quoting paqtrade

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Hi Colostarr,

Do you think this would be a good entry for an "Angulation Trade"? (Long EURCHF)

Thanks,

Jerry

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Quoting Titch

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Hi jerry

Looks to me like a congestion breakout. I am at a bit of a loss as to where you entered the trade. I would be expecting price to retest the 50 or balance line then go into a bearish move. Could you mark up the chart as to where you took the trade?

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Quoting Titch

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Hi jerry

Looks to me like a congestion breakout. I am at a bit of a loss as to where you entered the trade. I would be expecting price to retest the 50 or balance line then go into a bearish move. Could you mark up the chart as to where you took the trade?

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Quoting Colostarr

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Right idea - candle isn't far enough away from the blue line. Generally Angulation trades happen when price has gone up or down really fast and continues for 8 to 10 bars, and then signals reversal with a divergent candle the other direction.

The best advice I can give about learning angulation trades is to read Bill Williams Book "Trading Chaos" second edition

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Quoting Colostarr

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Neil I posted an example of an angulation trade this morning on the USDCAD. I set the stop friday evening before I lost internet. It triggered last night

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Quoting Titch

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I would be thinking that the price is in a congestion.
Also look at balance line, 50ma S/R The rules are to sit on your hands but is it in a trend. Should you have taken the first move?
Could you post the chart so I can have a look?

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Quoting Colostarr

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Wow - perfect set up but went wrong direction. I guess Kitty didn't want to come out and play

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Quoting paqtrade

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Thanks for responding. I've read it a couple times, along with his other two books. Going to read them again this week... Thanks for the advice! I believe I have become a better trader this past week after discovering this thread. Although, one profitable day doesn't get it (yesterday). We shall see if I can swing a few profitable days together.

Jerry

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