Using Trendline for Trade

[zapper]

Originally Posted by knoppixgold

another ss.....easy to use....

Nice one!... You had a false breakout below 204.90!. I guess these steep trends is where one shouldn`t take a chance... Besides, where did you get the first point for the fibonacci? You don`t have any reference, so i assume you had it for the below 204.9 price... Nice trending

[knoppixgold]

Originally Posted by zapper

Nice one!... You had a false breakout below 204.90!. I guess these steep trends is where one shouldn`t take a chance... Besides, where did you get the first point for the fibonacci? You don`t have any reference, so i assume you had it for the below 204.9 price... Nice trending

thanks for ur comment .....i use trendline for breakout and fibonacci 161 for tp. this only valid if we could detect swing high and swing low.

[zapper]

Originally Posted by knoppixgold

thanks for ur comment .....i use trendline for breakout and fibonacci 161 for tp. this only valid if we could detect swing high and swing low.

You also forgot to consider the case when the market is highly volatile. Let alone the normally volatile pairs like GBPJPY. And 161.8 is too high for a TP, don`t you feel?... But, you can use a 15 point Trailing stop, if you are confident about the direction of trend!.

[moustafa]

Originally Posted by zapper

You also forgot to consider the case when the market is highly volatile. Let alone the normally volatile pairs like GBPJPY. And 161.8 is too high for a TP, don`t you feel?... But, you can use a 15 point Trailing stop, if you are confident about the direction of trend!.

you should put in your mind any possible changes in markets so you can't be confident about any direction to choose , you just predict one type and wait for its rise to sell ..

[ghous]

you should put in your mind any possible changes in markets so you can't be confident about any direction to choose , you just predict one type and wait for its rise to sell ..

no moustafa actually that can be done...i.e you can predict where the market is going to go and it's direction, it takes a lot of time effort and ofcaorse experience to reach such stage but then i know of a forex trader who does'nt need to use any indiactors atall, he's been in the market for more then 10 yrs now so he can literally predict where a trend will begin and where will it end....that's what experience can do to you, let alone only idenotofying the diorection of the trend.

[razz]

i'm gonna share another trendline trading example ... hope this can help for those who want to get involved with trendline trading to get better pips ..

[ghous]

i'm gonna share another trendline trading example ... hope this can help for those who want to get involved with trendline trading to get better pips ..

ok that's another good example! the main challenge in using trendlines is to try and place them on your charts appropriately...this can either lead you to false judgments or can make you hundreds of pips! all i can say is learn to use trendlines effectively and practice them on demo before going live with them...it's alway a good suppting/assisting indiactor! the youtube videos shoudl definitely help!

[razz]

traders will discover the power of trendline trading if they can find the exact point ... trendline trading sometimes can produce 400 pips with 4 hours chart .. it will be so amazing to discover where and when the big pips will be shown

[ghous]

traders will discover the power of trendline trading if they can find the exact point ... trendline trading sometimes can produce 400 pips with 4 hours chart .. it will be so amazing to discover where and when the big pips will be shown

yes i agree, it;s imporatnt to not to all the readers of this thread that trebdlines don't work for TF's < 1H the reaosn is that these TF's (below 1H) acne be very "noisy" and with many spikes to diturb the trendlines, does the rendlines become void for such TF's...they are most effective on the 4H when you look to identify the long term trends which generally range abt 4 to 5 days on avg.

[knoppixgold]

Originally Posted by razz

i'm gonna share another trendline trading example ... hope this can help for those who want to get involved with trendline trading to get better pips ..

good info....how about the if the price break the trendline...do u trade the breakout or wait for retracment? thanks