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Thread: DRAWING AND TRADING OF TRENDLINE BY YOURSELF

  1. #1
    Registered user Toyen's Avatar
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    DRAWING AND TRADING OF TRENDLINE BY YOURSELF

    Introduction:
    Trendline strategy is a powerful strategy that works with support and resistance levels, it does not need too much workload to be traded, it needs the drawing and the correct analysis from traders to trade it. I see that this strategy is still very not famous on a forum like this, i am using this avenue to teach traders most especially the newbies how to draw and trade trendline by themselves. I have being using trendline since my 3 years forex trading experience, it is the strategy i can not afford to miss for trading. It is not so hard to do this, we also have to be careful not to be doing the drawing in the bad way. I will try and teach it based on my understanding of the trendline.

    Time Frame:
    You will decide your time frame by yourself. The traders that will want to scalp by using trendline will have to use small time frames, those that will want to trade long term will use larger time frames for it. I am using 4H for my trendline analysis, it is the one that is convenient for me.

    Trendline Drawing:
    Link two most important highs and lows together on the chart. You will leave it when you do not see a peak or low that is good enough to link together. This later condition is not common in the market, but it exist anyway, we have to be prepared for it.

    Picture samples:
    You can use the three different examples as shown in chart below to know how to draw it better as pictures speaks a thousand words.







    Stop loss and Take profits:
    You can decide your stop loss and profit target by yourself, your practice of this strategy will help you to achieve that. As for me, i use low stop loss for trendline, it is safer in that manner, i use 25 pips in most cases. And for profit target, i use 80 pips in most cases.

    Strategy explained:
    After drawing the trendline, it will have two lines, the upper line is called trendline resistance, and the lower line is called trendline support. When the market breaks above the trendline resistance, you will buy. When they market breaks the trendline support, you will sell.

    You can try this simple strategy every day of your trading and your trading lifestyle will remain positively changed forever.

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    Registered user Goldenstein's Avatar
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    Quote Originally Posted by Leonvic View Post
    We cannot trade the trend lines if we don't know how they work, there is an advantage in understanding something yourself, the trend lines can be used for channel trading which is a little bit advanced for some people but it is just the way our normal support and resistance works where we expected that price would bounce off from one level and move to the next subsequently.
    obviously traders will not use anything in first place without learning and only those who selfish enough to try something for the first time in real account and risk their own money for unnecessary trades. it is true loss can give us experience to learn but it does not mean we have to waste our money and time for nothing. if we know how to get experience safely with small risk then we do not need to put high risk for that. drawing trend line manually is easy to do and can be found on many tutorial videos from internet.

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  3. #232
    Registered user ict2014's Avatar
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    Trading with price action and indicator is a good system to apply in the forex field. Except this, we can call another system that is trend drawing. Sometimes we suffer and could not find out market actual support and resistance as well as breakout point. We can do that esaily using drawing trend line and able to catch trending starting point and set stop loss and take profit easily. presently I use it and get benefit from it.

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    Registered user snnaky's Avatar
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    Hello my friends

    It seems to me that it is a good strategy and deserves the experience.
    But the most important is to know the most suitable time frames It is not important to use only a suitable indicator, but it is important to use the appropriate frame also to be the decision more better the trend line is the simplest way of trading, which is very important to judge the change or reflection of the price, but to be a correct decision you need a large frame to draw the line of the direction and thus the difference between the right and wrong because traders differ in the choice of time frames.

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  5. #234
    Registered user Toyen's Avatar
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    Quote Originally Posted by ict2014 View Post
    Trading with price action and indicator is a good system to apply in the forex field. Except this, we can call another system that is trend drawing. Sometimes we suffer and could not find out market actual support and resistance as well as breakout point. We can do that esaily using drawing trend line and able to catch trending starting point and set stop loss and take profit easily. presently I use it and get benefit from it.
    I don't really know why traders are always talking about the price action when the discussion is more of the trendline trading. Well, according to my experience in trading, the trendline is more powerful than trading the price action, except the trader do not know how to trade the price action. When you are trading the market with trendline and you actually know how to draw it rightly and use it rightly at the same time, this will certainly bring success for the trader.

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  6. #235
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    depending on the different indicators or the autochartest may not be very true , that they are some times fail . and the way in which we draw the trend lines or the support and resistance levels can be very good and smart way that we can control them effectievly with some regard to the news we may have good trading and good analysing

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  7. #236
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    I don't think it's so difficult to draw the trendline in forex. This would give us a perfect way to make a good entry and would help give us the chance to become successful. The trend is our best friend and the capability of following this trend is to ensure we can build more significant way to trade well. With the trend line tool we can draw up this trendline easily and do have have an easy approach to make an entry trade or as well make the right exit too.

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  8. #237
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    When anything is done yourself, you have more experience and confidence anytime you want to trade because you don't have to ask for confirmation from anyone before you make your trading call, that is a good advantage. I don't trade with the trend lines but I use them to measure the strength of the trend, they are more useful to me that way than actually trading the trend itself.

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  9. #238
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    Using Trendline as a trading method is one of the best and simple way to trade i would recommend this method for newbies. Its simple because there are few rules to follow and its straight and clear. When a Trendline from a down trend is broken by a candle closing above this is signal that an up trend is about to begin same when a trendline from an up trend is broken it gives the idea that the trend is about to start moving downward thus one thing is certain that is to start buying or selling in the direction of the trend.

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  10. #239
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    drawing of the trend is required as this will help for well analysis of the market and so the trader will be able to follow the right movement of the market and this will lead to successful trading and making of money, the trader should draw the trend on different time frames to choose the proper positions of trading and make more and more money.

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  11. #240
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    The trendline is the easiest method to start a trad. It is really easy to draw a trendline on your own. Just join the high and low and find out the direction by them. Every trader should learn how to draw trendline because the analysis is incomplete without trendline and you can not spot a trend without it. Thank you for sharing your knowledge which is really useful for newbies.

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