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splashy said:
Flash (or anyone else for that matter if anyone has any thoughts...),

just wondered...if there is a trendline with say, 4 good bounces from it - how would you compare that to a flat support line with 4 good bounces off it. All other things being equal, would you say they had the same 'potential' to cause a problem, or does the fact that the trendline has an angle make it stronger/weaker than a flat line?

Just curious what the consensus is? Any thoughts welcome...:)
Click to expand...

with flat support or resistance I always look for a higher low as we approach the high.If I see that i am looking for it to break through the resistance. If there is no higher low then I am looking for it to turn round. i will post some charts later when I get chance. I love the angled trendline,particularly when it coincides with resistance of a big fib level.They are basically the two main methods how I trade.If I stuck to those and not always trying to improve,idbe a rich man
 
milka said:
Out and about and just got an alert selling euro dollar @1.2278 stop is 100 points for now with target of 100 too
Click to expand...

Finally got to look at a chart of my trade this morning and can tighten my stop a little on this euro dollar

stoploss now at 12340

target 12220

slow going
 
Lord Flasheart said:
with flat support or resistance I always look for a higher low as we approach the high.If I see that i am looking for it to break through the resistance. If there is no higher low then I am looking for it to turn round. i will post some charts later when I get chance. I love the angled trendline,particularly when it coincides with resistance of a big fib level.They are basically the two main methods how I trade.If I stuck to those and not always trying to improve,idbe a rich man
Click to expand...

One of the reasons i don't bounce trades off trendlines in the way that you do is that i think of angled lines as 'inferior' to flat ones for some inexplicable reason. Maybe it goes way back to when i started trading shares when i never used them at all and its a battle thats still going on in my head. Obviously angled lines have a potency in their own right and are perfectly tradeable but i was just trying to gauge a 'pecking order' as to whether they are considerd to be generally stronger or weaker than flat lines if everything else was equal. In my head i consider them weaker but i have absolutely no rationale for that presumption, other than they are sometimes harder to see! :eek: :(

So, i thought i'd throw it open to the forum...:clap:
 
Guess throwing it to the forum you`ll only get the response:

"what works for you doesn't necessarily work for someone else"

L Flash clearly has enough experience to quantify his rationale in taking up a position in the market based upon TL trading ;)

Just a thought.... (no harm using TL and S,R as confluence...)
 
domgilberto1989 said:
Guess throwing it to the forum you`ll only get the response:

"what works for you doesn't necessarily work for someone else"

L Flash clearly has enough experience to quantify his rationale in taking up a position in the market based upon TL trading ;)

Just a thought.... (no harm using TL and S,R as confluence...)
Click to expand...

You're missing the point here...:(
I wasn't inferring that there is anything wrong with the way he trades...rather the opposite actually. I would love to have the mindset to trade that way but old habits are stopping me and i'm looking for perspectives from anyone with a decent opinion that might shed some light on stuff.
Its a simple enough question. If you can't contribute positively, don't.
I think i'll check over old threads anyway, probably been covered somewhere.
 
splashy said:
You're missing the point here...:(
I wasn't inferring that there is anything wrong with the way he trades...rather the opposite actually. I would love to have the mindset to trade that way but old habits are stopping me and i'm looking for perspectives from anyone with a decent opinion that might shed some light on stuff.
Its a simple enough question. If you can't contribute positively, don't.
I think i'll check over old threads anyway, probably been covered somewhere.
Click to expand...

Calm down. I wasnt being aggressive or contributing negatively. If I got the wrong end of the stick then you can just say.

My fault.

As you`ve said, go read elsewhere and gain some confidence in it or not?
 
domgilberto1989 said:
Calm down. I wasnt being aggressive or contributing negatively. If I got the wrong end of the stick then you can just say.

My fault.

As you`ve said, go read elsewhere and gain some confidence in it or not?
Click to expand...

There's nothing wrong with my confidence, domgilberto.
I make most of my pips mid trend and i'm happy with how that goes so now i want to complement that with a strategy similar to flash's and i'm just going through the motions of placing things into context.

NB. I am perfectly aware of how confluence works as is anyone over the age of about 12. :rolleyes:
 
splashy said:
Flash (or anyone else for that matter if anyone has any thoughts...),

just wondered...if there is a trendline with say, 4 good bounces from it - how would you compare that to a flat support line with 4 good bounces off it. All other things being equal, would you say they had the same 'potential' to cause a problem, or does the fact that the trendline has an angle make it stronger/weaker than a flat line?

Just curious what the consensus is? Any thoughts welcome...:)
Click to expand...

interesting question. where they meet, the triangle that's formed is usually continuation so no clues there...
t/l's have the capacity to last longer, i think...
 
splashy said:
One of the reasons i don't bounce trades off trendlines in the way that you do is that i think of angled lines as 'inferior' to flat ones for some inexplicable reason. Maybe it goes way back to when i started trading shares when i never used them at all and its a battle thats still going on in my head. Obviously angled lines have a potency in their own right and are perfectly tradeable but i was just trying to gauge a 'pecking order' as to whether they are considerd to be generally stronger or weaker than flat lines if everything else was equal. In my head i consider them weaker but i have absolutely no rationale for that presumption, other than they are sometimes harder to see! :eek: :(

So, i thought i'd throw it open to the forum...:clap:
Click to expand...

I understand what you are getting at but I wouldn't call the angled lines inferior just a bit different. When price bounces off angles line it is always at a different price but a bounce off flat S/R lines is always at the same price. That makes the particular price have more meaning to large traders for whatever reason. What that would normally mean, and in my experience, when the flat S/R lines get broken after 3 or 4 bounces have occurred there's a more violent or pronounced move in the direction of the break. The angled lines tend to stop you out more often then continue back in the direction of the angle. The way I play these is to wait for exactly that to happen then get in with the trend. I wouldn't say either one is better but you have to play them a bit different.

Peter
 
puppetmaster said:
interesting question. where they meet, the triangle that's formed is usually continuation so no clues there...
t/l's have the capacity to last longer, i think...
Click to expand...

I agree. That's sort of what I was alluding to in my previous wordy post but you said it perfectly.

Peter
 
wackypete2 said:
I understand what you are getting at but I wouldn't call the angled lines inferior just a bit different. When price bounces off angles line it is always at a different price but a bounce off flat S/R lines is always at the same price. That makes the particular price have more meaning to large traders for whatever reason. What that would normally mean, and in my experience, when the flat S/R lines get broken after 3 or 4 bounces have occurred there's a more violent or pronounced move in the direction of the break. The angled lines tend to stop you out more often then continue back in the direction of the angle. The way I play these is to wait for exactly that to happen then get in with the trend. I wouldn't say either one is better but you have to play them a bit different.
Peter
Click to expand...

Yep. Brilliant. Thats the sort of thing i was after - maybe i didn't phrase it very well so apologies to domgilberto if we misunderstood each other. :whistling

Bouncing off the support of a rising trendline and going long is obvious enough and i do it regularly but i guess the one thats befuddling me is when a rising trendline is hit from beneath and a short is taken from it. As you say, the price may come back a bit then continue back in the direction of the angle so how are targets calculated then.

I think i'm reasonably handy at placing targets just before potential reverse points but i never take the reverse trade. Its that thing in my head of 'don't go against the trend' that i can't dispel even though i see it pay all the time. I just need that piece of the jigsaw to place the thing into context and i'm away. It'll just be a word or sentence. I know i'm a head case!
(y)

Oh, and i know that they are not actually 'inferior', thats the presumption i need to lose, residue from old habits.
 
When looking at the angled line,yes it probably isnt as reliable as S and R but it really depends on how you look at it. look at this aud/chf line. Its not a strong one but I have traded from this and am at b/e for the trades in a rising trend. I can take a trade from near the line and take 1/2 off at 1:1 and leave the rest for a runner. I have not had one decent runner in the last two weeks and yet I am ahead on pips. The risks are minimal and the reward big when I get the runners. There are a possible 3 trades from this line,one a clear loser of say 25 pips x 2, and two where I got 1/2 off before being stopped at b/e. All methods have to involve strong MM and discipline to work. The angled lines work better if the trade is taken below the recent high,not like where the chart is at the moment, and yes as someone and I mentioned,confluence adds to their performance. Once or twice a month I will come across an angled line that has pulled back to a SR area and it is also a big fib area.That is a perfect storm. I will find better examples and will post more and better chance when I get the chance,but am in the middle of a busy week
 

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heres my GBP/CAD trade from yesterday. I took the first rectangle. On monday and made some good pips on it(called on this thread) and did the same thing yesterday and have already taken 1/2 off with the runner currently at +70. it may be more noting the it probably looks like it is a S and R area,but it could also be seen as an angled trend line. There is also a lot in knowing which ones work. I have spent many years losing money at this game and you begin to get a feel for what looks right.To me I now only look for a few certain things and it makes my life a lot simpler and less stressfull. I rarely have more than 4 trades a day and probably average 3.
 

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The aud/chf chart. The price has bounced down from the line enough that I could have taken that trade and taken 1/2 off and moved the stop to b/e,giving me the chance to get a runner or re enter
 
short eur/usd 1.2228 stop-18 trg+18


:cry::cry::cry: kicked in the privates ----- no more calls as lying around in agony :cheesy:
 
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