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Advanced strategy #10 (Trend Line Trading Strategy)

A truly great work has been done by Myronn, the author of the current Trend Line Trading Strategy.
Support-resistance trading, trend line trading, checking higher time frames, money management — the strategy has a concrete-like theory base and a simple implementation — a winning combination, that places it into the category of advanced strategies.

Remember, your feedback, comments and suggestions are always in great demand!

Edward Revy

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Nice Strategy Myron, thank you for share. This Strategies looks similar with BRV Trading System (BRV Stands for Billy Ray Valentine 1 of the Senior Members from neighbourhood Forex Forum).

Thank you for share, i just want to Say, Trendline, Support & Resistance strategies is never die ... its extremely eternal ! & above of all this strategies is allways used by "Big Player" until this End Of Days.

Simple Is Better But Not As Simpler - Albert Einstein.

Hey Albert,
BRV is a totally different system. It can only similar in the concept of trading using support/resistance levels. This way hundreds of systems can be called similar.
You're right, Support & Resistance strategies is never die.

In my opinion Myronn's trend line trading is more flexible that the one in BRV where they use horizontal support/resistance levels.
Anyway, everyone can check on their own:

BRV_S+R_Trading.pdf

Cheers,
Iva

My pleasure Albert,

Thanks Iva for the BVR_S+R_Trading info you posted. There is definitely some excellent stuff in there... Appreciate that info.

Cheers

Myronn

Hello all,

Keep an eye out for USDCHF pair in the comming week. just step back and take a look at the monthly timeframe?

Remember I said something about LOOKING AT THE BIG PICTURE FIRST? Do you see something?Yes? Yes. If you draw a trendline from 3 previous peaks on a monthly timeframe you will see what I am talking about.

Price is comming to a major monthly resistence trendline (if you draw a trendline you will see it)...would be interesting to see if price will be made to obey this trend for the second time or not. If you switch to weekly & daily charts you will see price coming to this monthly trendline and being forced back down many times. Keep an eye out for any bearish candle formation in the weekly chart as that may indciate that price may begin to head down again in obedience to the main trend.

The price in the monthly TF is also at the 61.8 Fib level and that coincides closely with the trendline just within that area as well. Interesting setup happening here.

Regards

Myronn

Imho: according to Trading Forex Market with Support & Resistance only, i'll take qoute from 1 of Mr Myron post from pages 1 :

"(2)and which currency pair best suit the strategy
Answer: any currency pair that is trending; BUT stay out of trading if you cannot clearly identify any trends in whatever timeframes you would like to trade at."

I conclude if the Market has been Clear Trending event its Bull or Bear (like now is Bear) we can use TrendLine & Zig Zag Strategy.

But if the Market Sideways or we didn't saw any clear Trend in the Market; its better we use BRV Style trading (Horizontal Support & Resistance)has introduce by Mr. Albert Einstein.

So event Market Trending or Sideways we can still trade Forex Market with just only Horizontal or Trendline Support & Resistance. The question is who needs the indicators anymore ? ... :)[just joke]

Kind Regards;

Manus1668

Hello all,

just an update on the live & demo trading account using the trendline trading strategy.

Demo account current balance is $330,880. As the demo account has increased significantly, I have also increased lot sizes traded.

Live account current balance stands at $10,561, thats more than 100% increase in just 6days of trading in evening session here in Aussie for just 3-4hrs daily.

Attached is a screenshot of a USDJPY current short trade in demo account and still going.

Trend line trading USDJPY 15min

Happy trading and take it easy out there wherever you are.

Regards

Myronn

Hi Myronn,

great trade system

What settings do you use for the ZigZag?

regards

Dennis

Hi Dennis,

I use standard settings.

Cheers

Myronn


 
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