TL breakout + retest - Page 2

mphpopular · #11 (**permalink**) 11-23-2008, 04:50 AM

Plz note that, this approach not trade on BREAKOUT.

But is BREAKOUT + RETEST.

Bcoz we oftenly dunno whether the TL is a correct one or not. So, if it get broken, and retest-ed. So now we are sure the TL is drawn correctly, and here we go for trade.

And thanks for the support.

mphpopular · #12 (**permalink**) 11-23-2008, 04:55 AM

THis is the one I have miss out due to waiting the broken TL to get retest-ed

mphpopular · #13 (**permalink**) 11-23-2008, 05:06 AM

Waiting now.

mphpopular · #14 (**permalink**) 11-23-2008, 06:11 AM

EJ TL broken. So I wait for retest, Obviously, that is not a retest and it goes beyond the TL. Means the TL is invalid in my point of view.

mphpopular · #15 (**permalink**) 11-24-2008, 08:23 AM

Here is another one FROM EU m15.

In the same time when EU broken, GU also break the TL.

I didn't trade the GU breakout due to 2 reason:
1) Both having similiar action of USD, so I dont wish to expose too much of risk onto same action.
2) GU did breakout but didn't retest the TL.

fx823 · #16 (**permalink**) 11-24-2008, 09:17 AM

Hi mphpopular.
Thanks for good analysis with trendlines.

mphpopular · #17 (**permalink**) 11-24-2008, 09:37 AM

Keep up the post.

mphpopular · #18 (**permalink**) 11-25-2008, 12:04 PM

NZDUSD H4

I believe for the next H4 candle. The market wont move up too much. So for the next 4h, we have chance to find very good entry to LONG.

I didn't take this trade ON, bcoz I currently having 2 trades running in my ACC. I didn't want to cause my ACC highly expose to risk.

So, trade at your own risk.

mphpopular · #19 (**permalink**) 11-25-2008, 02:20 PM

A good call. LOL

Wish some one won pips from that chart.

sumatra · #20 (**permalink**) 11-26-2008, 01:52 PM

NZDUSD quickly whiplashed on that.
I love retests too, and I also think that trendline break alone does not mean anything in particular.
HOWEVER
Not every trendline is equally important and you have to assess the situation in bigger context
For example, i would trade upward trendline break that has been touched 4 times while currency is in downward channel.
Trendline breaks when there is severe MACD divergence can also mean a lot.