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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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Myronn!!!

I was going to mention that CHF. That trade was a trendline BREAK. What did you do? You trade continuation.

On my fibro weekly, Nov 05 to the low, the 50% is at 1.1470. Where did you get your 50% from?

I also have a support line on the weekly from '95 at 1.1203, but that's a stretch as far as I'm concerned.

I love trading triangles like your CHF, but usually they break in a continuation. I would love to have a bigger chunk of cash to be able to trade everything, but not yet so I wasn't in the CHF trade. However, here is the latest JPY.

Keep it up.

Grant

Hey Myronn.

Listen, I was looking for your specific Swing ZZ but couldnt find it, only a ton of other ones that zig either a lot more, or less. What are your setting? What session is the Aussie evening? i usually try to wake for London myself.

Grant

Hello Grant and hello all,

you can get the swing zz indicator in here: http://www.forexfactory.com/showthread.php?t=67479

aussie evening for me is from 5-10pm, dont know what is time is that in GMT. I use standard setting.

Regards

Myronn

Thank you Myronn,

I've downloaded Swing_zz indicator too:

Swing_ZZ.mq4

I've been following the strategy discussion, you're doing a truly amazing job! Keep it up!

Best regards,
Edward

You lucky boy. You get to sit down at night and do London, while I have the slow Tokyo session in the evening. I have to wake up at 1am for the same.

Did you see the JPY? 4H downtrend?

Thanks for the swing

Grant

Good one guys. Good observation Grant, the USDJPY when you look on the 4hr timeframe and draw a trendline, you will see price is finding resistance on that trendline, and it is really struggling to break it. I did not take a short trade on USDJPY it touched/intersected that 4hr trendline as I was a bit reluctant because when you look at the 1hr chart, and draw and upward trendline, you will see price finding support on that trendline and those 2 opposing trendlines are quite close to each other (converging towards a focal point...expect a breakout most likely to the downside, based on thd 4hr trend if it is strong) I want to make sure that 1hr upward trendline is completely broken to the downside to confirm to me it is heading down then I wait for opportunity to go short as per the strategy.

Happy trading

Myronn

Hi Myron

How have you fared this week, I hope you were able to generate a 100% this week as well taking your total to 20000/- dollars.

Do keep us informed.
burt

Hi Burt & hello all,

Not really good trading week for me this week. Why? Greed! Huh? You heard me right. Greed. You see, I had some many excellent trades this week and even last week that could have put me beyond $25k, but I violated my own rules by "holding on a little bit longer". When I started to do that, you know what happened? price turned against me and I ate most of my profits & also hitting my stop loss as well. One thing I learned from that: when you start thinking "hold on for a little bit more profit,that is the exact time you should be taking profits". That is my experience and does anybody has any similar experience like that?

Attached is a screenshot of my live account trade so far.

USD CHF 1 hour trading

Regards

Myronn