This trade is the perfect example of what a couple good indicators, a tested strategy and a bit of patience can make. 140 pips in this trade and 500+ on this pair over the last few weeks.
trend lines are a critical my methods of analysis. It appears you use many trading clues. I only have what i was mrntored to dountil that stinky sompany went into liquidation. once bitten and ready to give up. And, yes, they took my money of course.
a.b
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@Glendooie, trading is not about having clues. It is just about keeping it simple, like everything else in life.
Glendoonie
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@a.b, Six days ago you saw a potential sell. but the price has not changed much since then. On my chart ithe price could up or down. It's sitting in te middle of a channel heading upwards very slowly. It looks 50:50 to me. I follow Roker1 who explains his reasoning very well. He likes siMple too :-)
a.b
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@Glendooie, I called a buy, not a sell. I don't know your analysis but both my indicators showed a clear direction with high probability and the price did exactly that.
Glendoonie
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Do you always work on the 60 time frame. Even on that time frame I cold not duplicate the last trendlie of your chart becuse it cuts the price at 23 March. I would write that off as invalid. t
a.b
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@Glendooie, I do not understand why that trend line would be invalid. Maybe it's your strategy but for mine it is totally valid
Glendoonie
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@a.b, I have just re-read my post to you. It sounded like crap; please accept my apologies and note I know zero pretty much about FOREX, that is why I am on here. Anyway, I invalidate my trend lines when the broken by the price line. That happens in the past and will happen in the future. When a trend line is broken (invalidated) its time to rethink and draw a new trend line.
I like it simple too - getting clues or gathering evidence same thing.
a.b
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@Glendooie, sounds like you have some confusion regarding the meaning of "broken" and "invalidated". Be sure to understand that before trading with real money.