What rules do I need to build system around Horizontal Line | Forex Factory

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What rules do I need to build system around Horizontal Line

  • #1
  • First Post: Feb 14, 2016 4:54pm Feb 14, 2016 4:54pm
Hi

My only prediction is this "that the price gonna hit one of the horizontal lines"
One of the important rules(things to consider) would be volatility(time of the day) when this happens.
What else would be important??

Thanks for any productive answer.
Attached Image (click to enlarge)
Click to Enlarge Name: horizontal line.PNG Size: 24 KB
  • #2
  • Feb 15, 2016 5:37am Feb 15, 2016 5:37am
Two simple thing.

1.If there is resistance and formed a choppy zone,then wait for break up or down.Wait for the market reaction.

2.If there is breakout of previous res/sup,price most likely respect that point and ,may reverse.Probability for this is more than 65%.

Choppy - Candles in b/w one single candle .Upto 4 to 5 candles.
  • #3
  • Feb 15, 2016 10:18am Feb 15, 2016 10:18am
Prediction has workend out
So now to make things less complicated we should forget the left side of the chart ,the beginning of the chart is now the point where price has touched horizontal line.

The next prediction is this:
Price has to move away from this horizontal line.

So how to trade this, should we use one minute charts or go down to tick charts?
Attached Image
  • #4
  • Feb 15, 2016 7:57pm Feb 15, 2016 7:57pm
Why do you forget about the history?

Did you have any Strategy?
  • #5
  • Feb 16, 2016 12:27pm Feb 16, 2016 12:27pm
I don't look at history because it's "distracting"
Strategy idea is wery simple, when price makes contact with H-line then "everything" above i gonna buy, and bellow sell.
Now I'm trying to build a system around this simple approach.
  • #6
  • Feb 17, 2016 3:43pm Feb 17, 2016 3:43pm
This video shows my trading filosophy and the concept behind it:

Inserted Video


So this is the "heart" and around this I want to build my system...
  • #7
  • Edited 9:13pm Feb 17, 2016 5:07pm | Edited 9:13pm
Quoting Gollum99988
I don't look at history because it's "distracting" Strategy idea is wery simple, when price makes contact with H-line then "everything" above i gonna buy, and bellow sell. Now I'm trying to build a system around this simple approach.
how about sell at h-line and buy at L-line ? is it better than yours ?
  • #8
  • Feb 17, 2016 5:18pm Feb 17, 2016 5:18pm
By ranging market yes, by trending no.
  • #9
  • Feb 17, 2016 5:27pm Feb 17, 2016 5:27pm
This is my way of finding if and when the market is ranging of trending(moving)
Attached Image (click to enlarge)
Click to Enlarge Name: trend range.PNG Size: 62 KB
  • #10
  • Feb 17, 2016 6:07pm Feb 17, 2016 6:07pm
Quoting Gollum99988
Prediction has workend out So now to make things less complicated we should forget the left side of the chart ,the beginning of the chart is now the point where price has touched horizontal line. The next prediction is this: Price has to move away from this horizontal line. So how to trade this, should we use one minute charts or go down to tick charts? {image}

This system will not give you a positive expectancy which you need to be profitable. You need an edge, otherwise the outcome is always 50:50. What is so special about that H-line that price must necessarily go up or down after it touches it? Sorry to sound harsh, but just trying to help.

Q

___________________________________________
>> Quinton’s Simple & Effortless Trading thread
  • #11
  • Feb 17, 2016 9:21pm Feb 17, 2016 9:21pm
Quoting Gollum99988
By ranging market yes, by trending no.
But if you have a method to determine chop or trend, then it doesnt matter whether you buy or sell at h-line or L-line.
there are similar methods here in ff if you search.
definitely not my style though.
  • #12
  • Feb 18, 2016 10:04am Feb 18, 2016 10:04am
@Quinton

There is nothing special about H-Lines I use them only like reference point, when the price wasn't moving away from the H-line after it has touched it then there was no way that we could make money trading...
On the picture there are 3 price ranges
1. no range
2.10 pip range
3.150 pip range
when lets say you want to use 10pip stop loss on every trade , then which range would you use?
Attached Image (click to enlarge)
Click to Enlarge Name: range.png Size: 5 KB
  • #13
  • Feb 18, 2016 11:39am Feb 18, 2016 11:39am
I see the market like this and the difucult part for me is how to explore this
Attached Image
  • #14
  • Feb 18, 2016 12:03pm Feb 18, 2016 12:03pm
Could you add charts for example ?
Working,to be the best !
  • #15
  • Last Post: Feb 18, 2016 12:22pm Feb 18, 2016 12:22pm
Quote
Could you add charts for example ?

example of what?could you explain more?
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