I believe that they are just as relevant for using as support and resistance, however I would use them more as a guide to stay out of a trade rather than using them to enter a trade. I would definitely use them to exit a trade though. I don't really ...

line study

Having a look at the GBPUSD chart. 1) Price RESPECTED SL 5 TP 17 2) Price RESPECTED SL 6 TP 16 3) price RESPECTED SL 4 TP 18 4- 7) Price RESPECTED TOTAL SL 27 pips TOTAL TP 65 (these are all the trades combined... far easier!) 8) Price respected the ...

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Hmmm not sure what I did there... but don't want to rewrite the above post so I will continue here! #2) This is an area where price is RESPECTING the resistance level. You can do one of three things here (Just for clarity, the second candle of the ...

line study

We expect price to respect support and resistance. I think this is pretty much universally accepted, and we will base the following explanations on this premise. #1) Price has NOT respected support and resistance. It has broken through this area, so ...

line study

OK, drive over, and waiting to go in.. SO entry rules. I treat price a bit like a petulant child. Most of the time it is behaves well enough... you can quite happily walk down the street and the kid holds your hand, and it is plain sailing. For no ...

line study

Once you have filled in all the points... you get to zoom in and have a look at your handy work. Your first job is to have a look and see how price reacted at all these levels... run back through your charts and have a look. I need to go for a drive ...

line study

Then, shock horror.... Do the same with the 15 minute time frame. Repeat the exercise in gold. Your final chart should look something like this: image It is really important to do this from a fully zoomed out position, as it helps to filter the ...

line study

Move down to the 1 hour chart and repeat the process. Keep FULLY zoomed out. Just shift your chart with the little red arrow so you have price away from the edge of the chart. You need to change the trend line and the horizontal line properties to ...

line study

I am going to show you how to put your trend lines an s/r on your charts. image Start with the 4 hour chart and zoom out as far as possible Place your trend lines on the chart in red, as attached. Then starting at the highest point, place your ...

line study

Two dubious trades this morning, the set ups were good, but dubious entries... Both on GBPUSD

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SO... lets look at the results for this week... - I am going to include the whole trading account as a bit of an update, and then I will only do weekly wrap ups. Overall... 11 trades this week 4 break even trades 3 winners (one was the 1 standard ...

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Another trade, EURUSD. Setup 1 is pretty reasonable, alhtough a bit of a big pull back Setup 2 is a little choppy (after the entry) but nothing i can do there. Already pushed a little bit further down, and currently sitting 3 pips into my 10 pip ...

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Hallefuckingluja!!!! First win (and of course it would be the one where I don't post the trade being opened (battery ran out on laptop!) As it was, set up1 was perfect (really big run due to news) Set up2 was perfect as well... easily seen price ...

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USDCAD sell trade opened, but was closed out at BE after going to about 55% profit. Seems a bit like groundhog day at the moment... either losers or BE trades! haha. My main aim at the moment is trying to hone in on the entries. I have noticed that ...

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Yesterday was an interesting day for me I think. I am still taking it that I am still looking for my first win (the first one is not really a win as it did not conform to the system and it was wrong from a MM point of view) However, i view yesterday ...

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New order opened on EURUSD Setup1 is perfect - nice move, open is right where it needs to be Setup2 is perfect - clear moves, could not be clearer in fact... Taken out again!

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AUSUSD is now at break even, so at least not a losing trading! Closed at BE.

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That one reversed as well. Bollocks! haha! Oh well, AUDUSD is now open as a buy order. Set up 1 looks very good set up 2 is perfect. Lets see if this one goes how it should!

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re-entered on another breakout. I think this wants to go further down. Of course, it could just be a bit of revenge thinking here.. but the structure still looks good to me, and it is still producing lower lows.

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