Advanced system #5 (Trend Lines Breakout System)

Hi Nelson,

I could only suggest reviewing Elliot wave theory, Fibonacci trading plus the basics of Support/Resistance trading.

I don't trade monthly charts, in Forex it would mean a too long investing prospective, which doesn't fit my goals.

Regards,
Edward

hi i want to know how trade long term say a month do you have any help. nelson

Thanks so much for the great work u guys are doing... I tried the strategy and it was highly profitable.
Authentic

Let's take an ideal situation, when millions come to this website and take the same method...

As soon as millions of traders using the same method push on the market from one side, the other millions of traders, who use different methods, will recognize a new behavior in the market and develop a contra-method to benefit from a predicted market pattern.

The war of bulls and bears in Forex never ends.

Truly yours,
Dark Lord
http://forexdarkside.com

A very simple question here, if everybody came to this website, everybody practise the same method, what will be the result? ;)

Hi Andris,

It doesn't matter how many candles are forming a Swing.
If you see a candle which has reached higher price than its neighboring candles, you've got a Swing High.
And if you see a candle that made a low, which is lower than neighboring candles lows (one candle on each side), you've got a Swing Low.

This is a simple rule we use for this strategy, while in the mentioned article there is a more complex approach to the swing theory.

Regards,
Edward.

P.S. You may submit here a link to your screen shot with Swings identified and we will look at them together.

Edward,

I have question in addition to previous one, when identifying swings should we check within 3 candles as you draw before or it doesn't matter how many candles are forming swing. I have found one useful page
http://www.moneyshow.com/trading/Tips_for_Traders.asp?aid=swingtraders-4...,
where all this things are explained but now I have full mess in my head.

Many thanks
Andris

Dear Edward,

I spent some time to understand and test this strategy but understanding of swings still makes me some problem. Even after all of your explanations and drawings I can find after you more recent swings high or low on above printouts. Can you advice any web page were all this swings are explained ?
Thanks and regards,
Andris

Dear Edward,

In keeping with the similar logic of this system...I am going to try to test out the breakout of 5 bar japanese range....What do you think would be a logic time to catch an early breakout of the Japanese market?

Many thanks,

Steve

Hi AK,

Happy New Year!
I'm now away from my charts. Please upload your screen shot below and post a link here. I'll gladly look at it and answer your questions.

Regards,
Edward

Hi Edward

Happy new year. Thanks for sharing your ideas and time.
I'm not sure if I understand the rules around "valid" swing highs and lows.
For 31 Dec Euro/USD
would the swing b4 period be the high of the last candle before period
would the swing high within period be the high of the second candle (1am EST / 6am GMT)
would the swing low b4 period start be the low of the 10pm candle?
would the swing low within period be first candle (midnight) or is it the low of the 4th candle?

not sure how to show my chart. If you still have your chart it really help.
Also theoritically could the first candle (or any other candle) serve as the swing high and swing low?

regards
AK

Ok...

If I were going to test it....how long before the respective session opens should I look for a signal?

Hi Steve,

It's never been properly tested during other markets' open. The reason for that is simple: it's been fine tuned to a specific time. And although I can't dispute about it being totally ineffective during other market times I have one important note about profit targets, it refers to Pivots.

You would probably need to calculate different Pivots which will be based on the Asian or European market open.
I could be wrong... If you happen to test it I would really appreciate your review on that.

Best regards,
Edward

Is there any reason why this strategy wouldn't work at other market times such as before the asian open or the european open?

Thanks,

Steve

HELLO EDWARD

After developing the strategy and discovering new things my opinion is to describe to us the latest and final modification concerning this strategy.

Best Regards Edward.
JOE