A truly great work has been done by Myronnthe 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. Lol… I cant blame you. But maybe you can learn something extra here. Do yourself a favour and take a look at a chart and see if you can identify a trend. Is there a main established trend? There are exceptions where forex can go against the main trend, but I wont touch on that here. Timeframes suitable forex these strategies are the daily, 4h, 1hr, 30mins. I use only 1 Metatrader4 indicator called Swing ZZ zz for zigzag. It is freely available in the net, forex google it and you can download it. Thanks to the programmer who wrote it. So lets get started shall we? I call this trendline trading strategy because it involves drawing trend lines using the swing highs and lows of system Swing ZZ indicator. Get the big picture first, that is very important. For me, when I trendline to trade on the hourly chart, I first check the daily chart and also like to see what is happening in the 4hr chart as well to see if I can spot an obvious trend or channel system congestion happening in the daily and the 4hour charts. I stay out if trendline is congestion until breakout of the congestion happens and a trend is established. I draw trendlines in the daily or on the 4rhly charts chart then switch to the 1hr timeframe. I identify forex in the hourly and draw trendline s as well. The trendline can be the daily, 4hrly or the 1hr trendline. You must place your order when that candle closes. Note you must wait system price to approach a trendline or very near to the trendline before you place your sell stop order. You should set your stop loss according to your money management calculations and risk tolerance. Just do the exact opposite of short entry. Here is a screenshot of the trades I have taken using the strategy above. Attached are account history screenshot of trades taken in two parts as I am unable to take 1 complete screenshot. This strategy is amazing ,hats off for you buddy. Forex just want to ask you that i do not have swing zig zag indicator so is there any other forex I mean is there any other way to identify swing highs and swing lows? Trendline hope you will reply soon. You really dont have to use the swing zz indicator at all in this strategy. But it does make it visually easy for me identify swing highs and lows in the past and based on that draw trendlines. In answer to your question regarding substitue: At a minimum of 2 "peaks" or 2 "valleys" is required for you to draw a valid trendline. A line of best fit is usually required if you have 3 or more points to conect. That's a power strategy! As I understood, all your entries are taken on 1 hour timeframe. May I ask, how do you determine what swings to use daily, 4 hour, or hourly for setting stop losses? Does it depend on the trend line being hit Or am I mixing things up Hi Myronn Thanks for this great job For stop loss, allow me to give an example here: When I place my sell stop order in the 1hr timeframe, i search for the previous swing high also in the 1hr timeframe trendline put my stop loss just 5 pips above it. If trendline previous swing high is just above my entry and my stop loss would be like 20pips placed just above it, that is good. Can you take that or not? When it forex my money management rule, what I do is I switch to a smaller timeframe and that would be the 30min. In there, I look for swing highs that would be much closer to my entry point and and with stop loss that fits my money management and that is where I place my stop loss just 5 pips at least above trendline previous swing high in the 30min timeframe. Thats how i do it and i hope you all will experiment and see what fits each one of you individually as traders. Remember, wait for the price to come to the trendlines before taking any trades, dont take anything system between the major trendlines. Patience is the key. Drawing trendlines helps me spot the trend in the market and I know that as price nears that trendline, it does two system I place my order as described in the strategy. Pls note trendline I advice not to use MARKET ORDER entries when prices near the trendlines because ANYTHING can happen there. There will be candles breaking or intersecting the trendline s trying to head in the opposite direction to the main trend. However, if the trendline is broken and a new higher swing high and higher swing low is made that may signify an uptrend. Hi Myronn Grateful for your detailed explanation. One more humble question, please: I enter on 1 hour chart, do I look for a previous swing on 1 hour time frame? Trendline your examples trendline charts are 4 hour and daily and profit targets are chosen accordingly. Were those entries taken on other than 1 hour chart? Active traders Poll - share your live experience or read what others have to say. Forum What is Forex? FXCM App Store Trailing stop EAs MT4 Forex Scalping Tips and Facts Forex Brokers Scalping systems Forex systems with MT4 custom indicators Systems in development Create own Forex system Forex Trading Tips Forex indicators Forex Polls forex results FSR Forex Forum. Who's online There are currently 11 users online. Submitted by Edward Revy on October 4, - Remember, your feedback, comments and suggestions are always in great demand! Hi Myronn, This strategy is. Hi Myronn, This strategy is amazing ,hats off for you buddy. BigPond wireless broadband hmmm Happy trading Regards, Arsalan. Thanks Arsalan, pls contact. Hope this answers your question. Yeah, Ausie,,lol, dead giveaway huh? Hi Myronn, System you very. Hi Myronn, Thanks you very much for your quick reply and detailed answer for my question. Happy trading, Regards, System. Hi Myronn That's a power. Hi Myronn That's a power strategy! Hi Myronn Thanks for this. Bravo Myronn Regards Gregg. Hello Marius, good question. Hello Gregg, 3 good. Hello Gregg, 3 good questions, i try my best to answer them for you. Hi Myronn Grateful for your. Wish system all the pips in Forex: DailyFX Dukascopy Saxobank InstaForex FSR Forum. Free e-books Currency Index Forex bonus Video course. How To Double The Account In 1 Day? Home Advanced strategy 10 Trend System Trading Strategy Submitted by Edward Revy on October 4, - Edward Revy Hello all, First of all, this site is awesome. Edward, you are a great man. Forex am calling this a Trend Line Trading Strategy and it is based on: Wish you all good health. DailyFX Dukascopy Saxobank InstaForex.
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