Using Trendline for Trade - forex fx

zapper · #11 (**permalink**) 01-19-2008, 05:39 PM

Quote:

Originally Posted by knoppixgold

trendline is powerfull tool but we have to filter with some other tools like horizontal support and resistance. trendline will show us the current trend and also support and resistance but if the market is sideway....we'll see a lot false signal from this trendline. so before we draw a trendline....we have to indentify whether market sideway/whipsaw or trending. if trending then we use trendline....if not...well its high risk. just my 2 cent.

2 cents isn`t high risk

. But most often, trendlines are drawn over longer periods like H4 or D1 or more...

knoppixgold · #12 (**permalink**) 01-19-2008, 10:51 PM

how to buy and sell using trendline.

1. identify support and resistance.

2. S & R is important. It is where we put our buy or sell

3. identify where the trend is? so we draw trendline

4. this trendline is to see the trend, bounce of CS and breakout

see the chart here

http://img141.imageshack.us/img141/4...endlineji9.jpg

knoppixgold · #13 (**permalink**) 01-19-2008, 10:54 PM

Quote:

Originally Posted by zapper

2 cents isn`t high risk

. But most often, trendlines are drawn over longer periods like H4 or D1 or more...

...yes zapper isnt to risk. I agree the longer tf the stronger the trendline.

zapper · #14 (**permalink**) 01-20-2008, 03:13 AM

Quote:

Originally Posted by knoppixgold

how to buy and sell using trendline.

1. identify support and resistance.

2. S & R is important. It is where we put our buy or sell

3. identify where the trend is? so we draw trendline

4. this trendline is to see the trend, bounce of CS and breakout

see the chart here

http://img141.imageshack.us/img141/4...endlineji9.jpg

The explanation is good. But the actual trend doesn`t match that of the trendline. You need to identify the long term trend before drawing the trendline, which you have done correctly!... And i`m convinced that the breakouts seem to follow the resistances... And the fact that the EUR, USD and GBP have started to decline in value...

knoppixgold · #15 (**permalink**) 01-20-2008, 09:02 AM

Quote:

Originally Posted by zapper

The explanation is good. But the actual trend doesn`t match that of the trendline. You need to identify the long term trend before drawing the trendline, which you have done correctly!... And i`m convinced that the breakouts seem to follow the resistances... And the fact that the EUR, USD and GBP have started to decline in value...

yes, i agree with u. that is only example to draw a trendline. in that chart u can see that is a short term trendline. the longer term (for example we just look at tf hourly), u can see the resistance or peak is getting lower and lower so we connect the peaks/resistance we could get a long term trendline (actually it still shorter if we compare to 4hr, daily or montly). pls see a chart. actually for me drawing the trendline is a subjective.....i know moutaki or demark try to make it objective or science but i still tend to use in subjective way. drawing trendline me is an art not science because we deal with human psicology. correct me if i'm wrong. i still learning

vasant · #16 (**permalink**) 01-26-2008, 06:11 PM

You cant do shit using trendline unless ure an intuitive personality.
Well, as far as i know, trendline is used to see the timeline of downfall or uptrend of a chosen forex. Thats what and thats all it is, not much to really discuss!!