The thread is based on trendlines the simplest thing any trader can use on his/her chart... no matter how much we advance creating those systems / indicators / theories .. sometimes the most basic thing can acchieve the same result or better..
As same on elliotwaves thread i invite everyone to post their charts and thoughts and trades ..


regards
EACAN

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This chart shows how price is travelling very close to trendline almost on it with several touches now and then.. we have a situation of divergence on MACD but the support is held very nicely i am looking to sell this breakout for tp around 1.9590's-1.9575 --
stop above 1.9682 [bid]
support @ 1.9635
resistance @ 1.9680-85 region


EACAN

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gbp1.JPG (137.9 KB, 2896 views)

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guess trendline trade worked very well reached 1.9590 and 1.9575
regards
EACAN

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hey eacan

yes i use trendlines but only to figure if being in a buy zone or sell zone, i made up rules for my self using only 78 and 62 fibo high low connecting trendlines. maybe u understand why i was confused in the elliot thread as i still consider euro being in a overall buy zone ( staying in a well definied channel) but however i will not marry euro but it still tell me to be patience but i se it possible to make a dip to 1,27 and maybe better in the 1,24 region only time will tell uss


sailor

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hi sailor ,,

i had a trade today i lost for -28 pips there was no breakout i sold into trendline resistance .. overall it is going good sorry no charts for now. But since you are saying you have been using trendlines too you can understand it is something always good to use.. i personally love it.
regards
EACAN

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ya they are nice tools


sailor

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learning to change old habits is not always easy

Ok this is where trendlines get all messy atleast for me!!... i believe many have different views of trading the trendlines but this is what i am interested in with eurousd for tomorrow ...

First dont get the wrong impression what i drew is a wolfwave it is not it is simple cone showing support and resistance


i am looking for one condition for this trade and if it happens i'll take this trade for tomorrow... what i am looking for is that today's low at 1.3119 stays and todays closed should be below the pivot at 1.3152 ..

fine these are 2 reasons but hey you got the idea right??..


There are no indictors on these this is why just trading the tendlines is little hard and at times really rewarding let us see this particular setup ...

my stop would be better to be around 1.3152 and keep in mind i willl only sell at 1.3119 and that is for tomorrow for targets around say 1.3085-50 ..

so once again it is a simple setup and should be treated as such

regards
EACAN

Attached Images

trendEuro.JPG (140.1 KB, 2694 views)

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Now that both conditions have been met.
(1) closing below 1.3152
(2) no low below 1.3119 although it tried to till 1.3122-23

I have placed a sell stop @ 1.3119 sl are above 1.3151 keeping yesterday's high as proxy.. targets as said or lower hard to predict but using fibs can give an idea...

my simple trendline trade is ready to execute if hits 1.3119 for tomorrow.

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i am out of this for +2 pip profit dont care where it goes but i just dont like it anymore there will be more in future ..time to do other stuff weekend ahead.!!

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hehehe....

today i got 30pips...
anyway...i still newbie...
whose can teach me technic and strategic to trade in forex...
i want to study from any senior trader...

apperiacte in ur help....