Magnetic Line Trading with KiwiOz

Magnetic line trading is quite simple, but as with all trading systems you have to get the direction right first....... & you are never going to win them all...
Anyone is welcome to post on this thread & the idea is for those learning the system not to be backward in posting charts with their interpretations of line locations. I cannot help you if I can't see what you are doing.
Just remember. "Shit happens"
I will start by posting a few charts & over the next few days I will post more charts with set-ups showing my methods.
Feel free to ask questions. It's the best & quickest way to learn.
Why do I do this. I often ask myself that question... Trading can be very boring. Lots of time spent watching price action going nowhere. So company is good & good company is great. Sharing ideas with like minded people helps the time go by & hopefully leads to a higher percentage of winning trades.

Others can trade & post any pairs the like. I can however advise you on your Magnetic line placements.

The best way to learn the system is to practise, Practise, Practise....Go back over old charts & draw lines all over them the way I do to find how targets are found & hit.......whenever I post a chart, copy the lines you see & try to understand why they have been placed where they are.

Edit........1. Entry is taken on clear break of the purple trend lines.
2. Exit on target blue lines.
You could say it is akin to breakout trading with clear targets in focus.
Once a target has been reached you should be looking for a target in the opposite direction.

Page 7 has some good info'... http://www.forexfactory.com/showthre...33#post7432133




Indicators I use..attached.

hi Kiwioz,

i used to follow your posts in the gold and silver thread its good to have you here to help the traders and teaching you method i appriciate you that you have started this thread that will provide an opportunity to new trader follow you.


mrmalik

" Trading can be Very boring. Lots of time spent watching price action going nowhere. So company is good & good company is great. Sharing ideas with like minded people helps the time go by & hopefully leads to a higher percentage of winning trades "
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Lets start with the current Ozzie Daily chart.
3 things of note...
1. Yellow lines indicating end of trend.....Do not trade in the supposed new direction until a FULL daily candle has passed the yellow line. Not a 1/4 or 1/2 candle. A FULL candle. better to miss out on a few pips than to have the price come back & bite you on the ar$$e.............
2. Purple lines...Starting from the left..... NO long trades to be taken once the 1st projection ( which is presumed at the time to be the final target) is hit. If price had retraced then gone through the target line again one would then have looked for a higher target to project to. This is precisely what happened with the 2nd purple target. when price fell below the 2nd target line it was time to look for short targets........And again with the green & light blue lines.
3. Price has not fallen below the final yellow line. YET....Neither has it gone above the final light blue target line.......YOU SHOULD NOT BE TRADING THIS PAIR AT THE MOMENT.......Find another pair until direction is confirmed.

.YOU SHOULD NOT BE TRADING THIS PAIR AT THE MOMENT.......Find another pair until direction is confirmed.

On the other hand that was a Daily chart. If you are good at scalping or swing trading....The 1H & 4H charts may show trading opportunities for this pair.

NOPE.....Until price falls below the dark blue line on the 4H. Keep out........
Light blue target looks good. Dark blue line is a maybe...Remember the rules in the previous post.

Cheers mate..

hi KiwiOz , whats ur take on xu ?

Best to stand aside at the moment.........could jump either way...Looks like the "manipulators" did their daily pump n dump an hour & a half ago...

hi Oz, im new and maybe take a lot of question later, maybe i will ask for first,on purple trendline, already broken. may we assume that ausie might go to downtrend? in bullish form, what point of resistance we can predict?

I'm off to bed. Unfortunately I live in the wrong part of the world for trading.....Should be in Europe but they have Snow there in the winter..My winters get down to a "Chilly" 15 deg C.........
Just means I can't be here during the US sessions, so any questions may have wait up to 12 hrs to be answered.....I am usually up for another hour but got an early start in the morning. Wife dragging me off to the shops early cos we got visitors coming........

0.9260 looks a good trade.. After that..?? Is it just a retrace or a change of direction. Time will tell.

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yeah , we're on da same page

I'll follow with interest. :nerd:

Suscribed.

I've been waiting for this.

Thanks KiwiOz.

congrats Kiwioz
it's about time you started a thread.....


G

Thanks G. cheers.

Hidehi Tony......You bought any Bitcoins yet.??