Trend Lines
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Thread: Trend Lines

  1. #1
    Trader
    Join Date
    Aug 2013
    Posts
    195
    Thumbs Up
    Received: 16
    Given: 95

    Trend Lines

    Account number: 5260372
    Read only password: readonly
    Account type: CopyFx MT4 Pro-Cent
    Account currency: USD
    Leverage: 1 : 300

    Instruments: All currency pairs
    Timeframe: M5, M15, H1, H4.
    Difficulty: Medium




    Strategy:
    I am and has always been a trend line believer. I use trend lines to see and decide if i should follow the trend if a market has power to keep going in the same direction or i should be going against it if its losing momentum. Trend lines mere tell the direction of market or rage while to check the strength i use candle sticks. Further shall be described with each trader. Here are few examples of uptrend, downtrend and range with the help of trend lines and how to trade with them.

    Uptrend:
    up.jpg
    In above picture gbpusd H1 timeframe we can see price moving up and respecting both upper and lower trend line. we can use tp at upper line or wait till markets get ranging and close it manually. SL can be used at lower trend line or just outside it.

    Ranging Market:
    Range.jpg
    After moving in an up or down trend market consolidates for some time, this is called ranging market. here we use the same method but difference here is that we can do do both types of trades in a ranging market (buy and sell). But this is risky as market can form a new trend or continue the previous at any time. So don't forget to use stop loss.


    Downtrend:
    Down.jpg

    It is not necessary for market to move in an uptrend, then in range and then in downtrend. Nothing is sure in Forex market but here we had these three trends together, one after another. Upper line is used for stop loss and lower line for profit taking.

    Trend lines look beautiful on previous candles but on a live market there is always risk. So it is necessary for trader to use stop loss and save his account from bigger and avoidable losses.

    Comment moderator

    1. ContestFX
    2. Strategy confirmed

    Not allowed!
    Last edited by ContestFX; 11-19-2018 at 12:49 PM.

  2. #2
    Trader
    Join Date
    Aug 2013
    Posts
    195
    Thumbs Up
    Received: 16
    Given: 95
    thank you moderators and admin for approving my strategy and giving me bonus for trading.


    first order i have placed with small amoint but i don't understand what really happened, because market went opposite to my trade right after i placed my order. I was planning on putting stop loss on my open price but it didin't give me any chance. I am near to a stop out now.

    I was doing some working on chart and when i finished my painint editing my trade was in unbearable loss. i will discuss details later. Now baxk to terminal 😫

    Not allowed!

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