Two trendlines, ultimate reward | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How do I change the color of trendlines? 2 replies

What's your TP? Fixed reward vs dynamic reward 5 replies

Ultimate Risk/Reward 0 replies

Too many drawn Trendlines all same look: how to draw Trendlines with different look? 2 replies

Recommend an ebook on trendlines.... 10 replies

Attachments: Two trendlines, ultimate reward
Exit Attachments

Two trendlines, ultimate reward

  • #101
  • Feb 21, 2016 6:01am Feb 21, 2016 6:01am
Daniel, you said two TL, but i see inyour examples many TL and very confusing. Thanks!
  • #102
  • Feb 21, 2016 6:16am Feb 21, 2016 6:16am
Quoting mario777
Daniel, you said two TL, but i see inyour examples many TL and very confusing. Thanks!
Hi mario777,

welcome :-) You have absolutely right :-)

Two trendlines are only part of view, of course. But these two trendlines are very important for entry and sometimes close trade. This is why, I named it "Two TL's". Good name is for this "triangle, cross"...

And yes, You may see other trend lines. Obvious from bigger timeframes.
I am apologize, I do not know better way, than TL's, which will show You immediately strong supports and resistances on bigger (lower) timeframes. So, yes, there are some other TrendLines.

Here is good example, why I have sometimes more TL's in chart: http://www.forexfactory.com/showthre...55#post8762455

Greetings to Japan!
Daniel
  • #103
  • Feb 21, 2016 6:33am Feb 21, 2016 6:33am
Quoting daniel2
{quote} Hi mario777, welcome :-) You have absolutely right :-) Two trendlines are only part of view, of course. But these two trendlines are very important for entry and sometimes close trade. This is why, I named it "Two TL's". Good name is for this "triangle, cross"... And yes, You may see other trend lines. Obvious from bigger timeframes. I am apologize, I do not know better way, than TL's, which will show You immediately strong supports and resistances on bigger (lower) timeframes. So, yes, there are some other TrendLines. Here is good example,...
Thank you for your kind reply.
  • #104
  • Feb 21, 2016 8:01am Feb 21, 2016 8:01am
Hi Daniel

im right?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 49 KB
Joining The 10%
  • #105
  • Edited 8:41am Feb 21, 2016 8:13am | Edited 8:41am
Quoting AcanaTrader
Hi Daniel im right? {image}
Hi AcanaTrader,

very nice :-)
I have almost same chart :-)

But for me is there not 100 and more pips opportunity.

On my screenshot are two support.
For first it is only about 60 pips from entry.
Second only 80.

What happend, if will be go price to up? SL is 40 or 60 pips?
So, it is RRR about 1:1.1 and cable is probably in uptrend?
Have we answers for these questions? We must thinking about risk.
For me... many obstacles. Potential risk trade. I will consider this trade, but for me it is not good opportunity for trading. In future will be better trades.

But Your analysis are very good, do not worry :-)


EDIT: If will be there no TL like fat blue line, there will be almost perfect trade, even with RRR 1:1. But what happaned, if will be go price to fat blue line? TL is very close for entry. This is what I am very carefully on this entry and probably for me a little bit potentially "problematic" trade...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.png Size: 74 KB
Click to Enlarge Name: Image2.png Size: 75 KB
  • #106
  • Feb 21, 2016 8:41am Feb 21, 2016 8:41am
Quoting daniel2
{quote} Hi AcanaTrader, very nice :-) I have almost same chart :-) But for me is there not 100 and more pips opportunity. On my screenshot are two support. For first it is only about 60 pips from entry. Second only 80. What happend, if will be go price to up? SL is 40 or 60 pips? So, it is RRR about 1:1.1 and cable is probably in uptrend? Have we answers for these questions? We must thinking about risk. For me... many obstacles. Potential risk trade. I will consider this trade, but for me it is not good opportunity for trading. In future will be...
very good
thanks for valuable reply, i see strong support on monthly chart,
i think is to risky for take short
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDMonthly.png Size: 54 KB
Joining The 10%
  • #107
  • Feb 21, 2016 8:48am Feb 21, 2016 8:48am
Quoting AcanaTrader
{quote} very good thanks for valuable reply, i see strong support on monthly chart, i think is to risky for take short {image}

Yes, it is second thing. In EDIT, which I post to my previous post is the fat blue line for intraday trade more important. H4 / Daily is a little bit from Monthly / Weekly. It will be "countertrade".
This is why, what support not so important. Because we look only for 100 pips trade and this support is a little bit far. But yes, it is good, that You show us Weekle chart. Yes, even this is neccesary rate. Because our trades will be on GBPUSD and probably EURUSD for some time more long, than short :-) We will see :-)

Very good AcanaTrader :-)
  • #108
  • Feb 21, 2016 8:57am Feb 21, 2016 8:57am
Quoting daniel2
{quote} Yes, it is second thing. In EDIT, which I post to my previous post is the fat blue line for intraday trade more important. H4 / Daily is a little bit from Monthly / Weekly. It will be "countertrade". This is why, what support not so important. Because we look only for 100 pips trade and this support is a little bit far. But yes, it is good, that You show us Weekle chart. Yes, even this is neccesary rate. Because our trades will be on GBPUSD and probably EURUSD for some time more long, than short :-) We will see :-) Very good AcanaTrader...
You are the master of trendline
Joining The 10%
  • #109
  • Feb 21, 2016 9:03am Feb 21, 2016 9:03am
Quoting AcanaTrader
{quote} You are the master of trendline


Thank You

In other words. GBPUSD is a little bit complicated now for trading 100 pips opportunity.
This is what I see 64 pairs for opportunities. Not cable? Not GBPCHF, not something else?
Here we have other FX pairs, or commodities, metals, indexes...

And even on 64 charts nothing?
No problem, tommorow is day too.
Impulsive trades and no discipline is very good killer.

So do not worry about GBPUSD.
Look at another pairs.

I will watch Your setup.
Do not worry. If will be look very very good, then I will maby trade it.
We will see.
  • #110
  • Feb 21, 2016 9:12am Feb 21, 2016 9:12am
In other words, we are waiting for something like this :-)

P. S.: It is very ideal. But there are almost no problems, obstacles like supports and resistances. Potential is very big. But You know. We must be on earth. Sometimes potential 200 pips are damaged for example with big NEWS, etc.
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 77 KB
  • #111
  • Feb 21, 2016 9:49am Feb 21, 2016 9:49am
Hey Daniel,

I hope this isnt too much to ask but I should be in this thread for a long time if this works ;p

However, I have 2 lots open on Short S&P 500. There has been a big dip recently last week. Could you check it out with your lines and see if it was a good move? Im holding it over the weekend and Im semi scared to see how it will open and if I should keep my stop loss higher or cut my losses right now at -$120.

Thanks
It's always part of a bigger plan
  • #112
  • Feb 21, 2016 9:55am Feb 21, 2016 9:55am
Quoting Mickster
Hey Daniel, I hope this isnt too much to ask but I should be in this thread for a long time if this works ;p However, I have 2 lots open on Short S&P 500. There has been a big dip recently last week. Could you check it out with your lines and see if it was a good move? Im holding it over the weekend and Im semi scared to see how it will open and if I should keep my stop loss higher or cut my losses right now at -$120. Thanks
Hi Mickster,

thank You for Your post.

1) It is very important analyze first, then trade.
2) If You did bad trade = immedietely after open close him.
3) If trade go and do You have not set SL or strategy for out, then it is problem.

If You will post screenshot here, it will be good. I have on platform mini SPX, standard SPX. It is little bit different charts.

We may here post some TL's, of course.
But You must decide alone, of course.
It is only Your responsibility.
I know, You understand this, but for the others... :-)

Please, upload Your screenshot.
  • #113
  • Feb 21, 2016 9:58am Feb 21, 2016 9:58am
Quoting Cryptosurf
{quote} Actually i don't. That was an example how I will manually plot trend line's at each subsequent level and place pending orders accordingly.
thanks for the clarification
  • #114
  • Feb 21, 2016 11:45am Feb 21, 2016 11:45am
This is in M15.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 54 KB
It's always part of a bigger plan
  • #115
  • Feb 21, 2016 12:02pm Feb 21, 2016 12:02pm
Quoting Mickster
This is in M15. {image}
From first look it seems ok. I am not trade SPX often, so analysis is very quick.
But RRR is for me not very high.

Others maybe will have another tips.

It is important. Very good is, if You have trust Your own system, decision, etc.
If You are not sure, You need more confidence. Training own strategy on demo, etc. I know, it is very annoying, but neccessary.

You have SL, do not worry :-) Your risk is only 2 % of this trade of Your account, sure?
So, do not worry
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 85 KB
  • #116
  • Feb 21, 2016 12:13pm Feb 21, 2016 12:13pm
Quoting daniel2
{quote} From first look it seems ok. I am not trade SPX often, so analysis is very quick. But RRR is for me not very high. Others maybe will have another tips. It is important. Very good is, if You have trust Your own system, decision, etc. If You are not sure, You need more confidence. Training own strategy on demo, etc. I know, it is very annoying, but neccessary. You have SL, do not worry :-) Your risk is only 2 % of this trade of Your account, sure? So, do not worry {image}
Ok awesome thanks My system isnt really in place yet. I was lucky to go long in gold since 1053 lol. So im holding on and using that big amount to try out more trades.

I was thinking about using your system and applying it until I can customize it to my own.

Thanks again for the quick response! Will update this thread on my trades.
It's always part of a bigger plan
  • #117
  • Feb 21, 2016 12:30pm Feb 21, 2016 12:30pm
Quoting Mickster
{quote} Ok awesome thanks My system isnt really in place yet. I was lucky to go long in gold since 1053 lol. So im holding on and using that big amount to try out more trades. I was thinking about using your system and applying it until I can customize it to my own. Thanks again for the quick response! Will update this thread on my trades.

No problem We will be glad, if You will post Your work here
  • #118
  • Feb 21, 2016 2:07pm Feb 21, 2016 2:07pm
Wow massive drop in GBP/USD

Im in long right here.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 25 KB
It's always part of a bigger plan
  • #119
  • Feb 21, 2016 10:33pm Feb 21, 2016 10:33pm
Quoting Mickster
Wow massive drop in GBP/USD Im in long right here. {image}
Yes, looks like 150 pips opportunity for buy.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 71 KB
  • #120
  • Feb 22, 2016 3:56am Feb 22, 2016 3:56am
I usually place my orders a bit under the TL but noticed GBP was tanking so placed it a bit higher.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDiH4.png Size: 31 KB
Trade with confidence, trade without fear.
1 trader viewing now