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Mastering False breaks, trendline and fibonacci projections

  • #21
  • Feb 11, 2015 4:43am Feb 11, 2015 4:43am
And the update on AUDJPY

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  • #22
  • Feb 11, 2015 6:11am Feb 11, 2015 6:11am
Quoting attilafx
Dear all, I'm starting this thread because I think can give you some extra confidence to make that trade.
A very nice thread to help newbie traders like me. I've heard enough about Trading through trendlines but haven't found any related good tutorial/mentor helping me in drawing and for further help. I think this thread will help me a lot.
Sir, it will be an ease for new traders if you tell us briefly how you draw trendlines, which highs and lows attract your attention and at what points? As every expert has his own way to draw these lines. Thanks
Waiting for your reply. (Sorry for my English)
  • #23
  • Feb 11, 2015 8:00am Feb 11, 2015 8:00am
Quoting aazishhunain
{quote} A very nice thread to help newbie traders like me. I've heard enough about Trading through trendlines but haven't found any related good tutorial/mentor helping me in drawing and for further help. I think this thread will help me a lot. Sir, it will be an ease for new traders if you tell us briefly how you draw trendlines, which highs and lows attract your attention and at what points? As every expert has his own way to draw these lines. Thanks Waiting for your reply. (Sorry for my English)
Hi, thank you.

Well, what one must understand is that it doesnt make any sense to jump into a trade when we know the direction. Best is to wait for corrections. Let the market settle and start to draw.
When market moves sideways for one day or two then that is in my opinion to start connecting the two highs or two lows. Copy that trendline and put it the other way.

When you have a very strong move like in CAD or JPY, it can be done within 12 hours already.

Another important thing to remember is really to buy low and sell high. And sell high and buy back low.

Make channels, and position your trades from there. You really don't need a moving average to see where price is moving. If market moves sideway you can see that with your eyes to and MA's get flat.
  • #24
  • Feb 11, 2015 8:05am Feb 11, 2015 8:05am
Use 30 minutes to 1 hour charts.

EURUSD still doing nothing. People get chopped here. No need to trade this.
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  • #25
  • Feb 11, 2015 8:08am Feb 11, 2015 8:08am
USDHUF.

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  • #26
  • Feb 11, 2015 8:13am Feb 11, 2015 8:13am
Powerfull USDJPY since NFP.

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  • #27
  • Feb 11, 2015 8:17am Feb 11, 2015 8:17am
CADJPY
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  • #28
  • Feb 11, 2015 1:35pm Feb 11, 2015 1:35pm
Quoting attilafx
{quote} Well, the reason is that you draw a horizontal line and it acts as kind of a magnet. price goes above, price goes below, of course there are occasions when it doesn't but go and check. It gives you many false breaks.
Quite possibly, you may not be aware of proper ways to draw and eventually treat horizontal lines. Totally understandable and certainly not a failure in any way!

As horizontal lines are not the point of this thread, I will let the matter rest and wish you well!
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #29
  • Feb 11, 2015 1:45pm Feb 11, 2015 1:45pm
What if by drawing lines you were actually cutting yourself from that which is reality?
Rgds
  • #30
  • Feb 11, 2015 6:10pm Feb 11, 2015 6:10pm
Well, to each their own. Personally I believe that horizontal lines (or rather zones) are much more important and better to trade than angled lines.
  • #31
  • Feb 11, 2015 6:15pm Feb 11, 2015 6:15pm
Quoting attilafx
{quote} The same way, look for the patterns develop before the news. I was long USDJPY before NFP. They're right there you can see. I didn't take GBPUSD since I already had invested bigger in USDJPY.
Hmmm, attilafx you are right, i drew trenline on AUD/USD before the news then BOOM. Thanks for the tip.
  • #32
  • Feb 12, 2015 12:41am Feb 12, 2015 12:41am
EURUSD.

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  • #33
  • Feb 12, 2015 12:49am Feb 12, 2015 12:49am
USDHUF

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  • #34
  • Feb 12, 2015 12:59am Feb 12, 2015 12:59am
EURGBP

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  • #35
  • Feb 12, 2015 7:38am Feb 12, 2015 7:38am
EURUSD update.

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  • #36
  • Feb 12, 2015 7:39am Feb 12, 2015 7:39am
AUDUSD update that failed went indeed down. No trades for it now so let it develop into something.

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  • #37
  • Feb 12, 2015 7:41am Feb 12, 2015 7:41am
AUDJPY what failed to break to the upside went indeed to the blue box and even below.

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  • #38
  • Feb 12, 2015 7:42am Feb 12, 2015 7:42am
USDHUF. Right,

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  • #39
  • Feb 12, 2015 8:37am Feb 12, 2015 8:37am
Quoting attilafx
Update on GBPUSD what didn't had enough momentum yet. {image}
I guess the momentum came now....

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  • #40
  • Feb 13, 2015 9:19am Feb 13, 2015 9:19am
EURJPY

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