Here's is not something new, is for trades that breaks the trendline (TL) and retest the trendline and only we took the trades. Also chart patterns.
Welcome anyone trades on any TF, any pairs. Me basically scanning thru those USD pairs and from Higher TF until Smaller TF.
Why dont takes the trades once the TL is broken?
I often ask this to myself. As I view back my journal, I have many failure when I'm impatient and enter the trades once the TL is broken. Either TL is wrongly drawn, or is a bull/bear trap and others.
How about it doesn't retest the TL?
I juz let it go, no point I trying to chase every trades, let the trades come to me. Juz take as I miss out that chance. Only takes those HIGH QUALiTY trades. If you feel uncertainty, juz let it go. No point risking your hard earn money for some uncertainty.
Enter trades at closed of candles or middle of candles?
I usually enter trades at the end of candles. For me, sounds safer in that way.
Edit 1 @ 5april09 :
Instead of showing breakout and retest, now only provide charts with TL. Trade wisely
. Use it as a reference
Edit 2 @ 21april09 :
Put more attention on divergence. Check divergence using MACD and STOCH.
Edit 3 @ 19august09 :
Using bar chart to drew TL instead of candlestick.
New Short Form :
+ve --> positive divergence
-ve --> negative divergence
tp --> usually I drew a horizontal line and wrote TP, shows TP for the -ve/+ve divergence
To understand further about divergence. Plz do not hesitate to head over "school" section in babypips
Linear Mode
