A truly great work has been done by Myronnthe author of the current Trend Line Trading Strategy. Support-resistance fordx, trend line trading, firex higher time frames, money management — the strategy has a concrete-like theory base and a simple implementation — a dorex combination, that places it into the category of advanced strategies. Lol… I cant blame you. But maybe you can learn something extra here.
Do yourself a favour and take a look at a chart and see if you can identify a trend. Is there a main established trend? There are exceptions where you can go against forex 1 hour chart strategy main trend, but I wont touch on that here. It is freely available in the net, just google it and you can download it. Thanks uour the programmer who wrote it. I call this trendline trading strategy because it involves drawing trend lines using the swing highs and lows of the Swing ZZ indicator.
Get the big picture first, that is very important. I stay out if there is congestion until breakout of the congestion happens and a trend is established. I identify trends in the hourly and draw trendline s as well. You must place your order when that candle closes. Note you must wait for price to approach a trendline or very near to the trendline before you place your sell stop order. You should set your stop loss according to your money management calculations and risk tolerance.
Just do the hojr opposite of short entry. Here is a screenshot of the trades I have taken using the strategy above. This strategy is amazing ,hats off for you buddy. I just want to ask you that i do forex 1 hour chart strategy have swing zig zag indicator so is there any other substitute? I mean is there any other way to identify swing highs and swing lows?
I hope you will reply soon. You really dont have to use the swing zz indicator at cahrt in this strategy. But it does make it visually easy for me identify swing highs and lows in the past and based on that forexx trendlines. That's a power strategy! Does it depend on the trend line being hit. Or am I mixing things up. Thanks for this great job.
Can you take that or not? Thats how i do it and i hope you all will experiment and see what fits each one of you individually as traders. Remember, wait for the price to come to the trendlines before taking any trades, dont take anything forexx between the major trendlines. Patience is the key. I place my order as described in the strategy. Pls note that I advice chrt to use MARKET ORDER entries when prices near the trendlines because ANYTHING can happen there.
Answer: any currency pair that is syrategy. Answer: There will be candles breaking or intersecting the trendline s trying xhart head in the opposite direction to the main trend. However, if the trendline is broken and a new higher swing high and higher swing low is made that may signify an uptrend. Grateful for your detailed explanation. One more humble question, please: this time about profit targets.
Active traders Poll - share your live experience or read what others have to say. How to profit trading Forex. Create own Forex system. Forex Polls - results. Remember, your feedback, comments and suggestions are always in great demand! This strategy is Hi Myronn. BigPond wireless broadband hmmm. Hope this answers your question. Yeah, Ausie,,lol, dead giveaway huh? Thanks you very Hi Myronn. Thanks you very much for strategyy quick reply and detailed answer for my question.
Edward, you are a great man. I am calling this a Trend Line Trading Strategy and it is wtrategy on:. So lets get started shall we? Wish you all good health.
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