Advanced system #5 (Trend Lines Breakout System)

hi Mr Edward,
i have already sent my chart to your email and i have one more question here, if the
candle is broken at seventh candle but not 6th candle (or those 5 candles) then should i enter trade also,if yes then after enter trade we have to trade for 3 candle or 1 candle only?
Thank you very much...
Jaycee

Hi Jaycee,

We always use the most recent swings.
If you want to, send me a screen shot at

and I'll be glad to draw trend lines for you.

Regards,
Edward

how if we have two candle within those 5 candles which were also reached highest swing of same value.....which candle should we choose to draw downtrend line..

Jaycee

This is a very good system

Hi,

We always take two most recent swings, one of which must be within 5 candles, the other one can be anywhere.
Thus if you find two valid swings within 5 candle range, go ahead and connect them, this will make a valid trend line. If swings are of the same value, then we will get a horizontal trend line.

Regards,
Edward

HI Edward,
Thanks for your sharing. To draw the uptrend line, we have to connect between the swing low within those 5 candles and the swing low in previous day. but how if the most recent swing low in previous day is same value to the valid swing low within 5 candles. Should i just connect them in a horizontal line and treat it as uptrend line or i need to choose another swing in previous day to draw our uptrend line?

Hi Andi,
I'm sure you would have additional advantage if you calculate both.
Those Pivot levels that will match or be close to one another, will definitely hold most of the power.

Eventually it is not difficult to keep notes for few months or so and determine the best performing pivots, or even discover a new pattern, which would tell what pivot points to use for the upcoming day.

Thank you for the interesting comments,

Best regards,
Edward

Hey Edward,

One last question, this one regarding pivot points. I understand some people use 5pm-5pmET while others use 12-12. Do you think it is a good idea to calculate both, study if there is any key resistance/support levels or trend line res/sup closer to either one of the pivot levels then mix and match the 12-12 and 5-5, leaving on the chart the levels where the price seems more likely to consolidate around.

Andi

Hi Andy,

thank you.
In my opinion many of the strategies will continue to be profitable. Strategies which use support/resistance trading (trend lines, pivots, fibonacci, breakout methods etc) will never die; others, which are based purely on indicators like moving averages, RSI, ADX etc may experience some difficulties in the future, or may not, I can't predict it :)

Regards,
Edward

Hi Edward,

Thanks a lot for sharing this, and all other strategies. Just by going back and testing this and all others they seem to hold up well. I was just wondering- in your opinion based on your experience, do you think the validity of these strategies will continue through the coming years or will we see them falling apart and new ones forming?

Andi

It would be midnight EST at your 11 am.

You may always refer to a well known online Forex market hours application at http://www.forexmarkethours.com/

I am from Pakistan and we are now +6 GMT what would be EST at our 11 am.

I use daily Pivot Points calculated from midnight to midnight Eastern Time.

Regards,
Edward

Which PP do you use? Weekly daily?
I live in Belgium and when i calculate my PivotP then they are always different like others. I only use weekly pp bbut i would like to now which hours i need to calculate.
Thanx

Nice work. Thanks :)