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[splashy]

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

Cheers flash, informative as always.
Its amazing how different people look at things. The first thing i did was move the line so that it was more palateable to me. Now i feel comfortable about trading it but it would be in the opposite direction to you.

I split trades from time to time but i don't make a habit of it but I think in going short off a rising line and vice versa, i can see it would be a prudent thing to do. I do see what you mean about the potential rewards as long as one has the discipline to hold on to the trade.
Do you trust your lines enough to wait for a touch in order to minimise risk or do you view them as being a little subjective and just happy with getting within 5 pips eg.?

 

[Lord Flasheart]

Cheers flash, informative as always.
Its amazing how different people look at things. The first thing i did was move the line so that it was more palateable to me. Now i feel comfortable about trading it but it would be in the opposite direction to you.

I split trades from time to time but i don't make a habit of it but I think in going short off a rising line and vice versa, i can see it would be a prudent thing to do. I do see what you mean about the potential rewards as long as one has the discipline to hold on to the trade.
Do you trust your lines enough to wait for a touch in order to minimise risk or do you view them as being a little subjective and just happy with getting within 5 pips eg.?

Its totally subjective as to where the line is placed,which is why I normally have a 25-30 pip stop to give me the margin of error . I try and wait for a touch but of course like any trader I start to see the $ sign to early. Even if you say that what I do doesnt work then because I have a r/r strategy and once in a trend it is longer than you think,in time I should come out ahead as Im sure to catch a big move,pullback or reversal sooner or later.

 

[Lord Flasheart]

short nzd/usd at .7999 sl 7825

same line as before,

 

[D.Gilberto]

short nzd/usd at .7999 sl 7825

same line as before,

I was interested in taking that short as well. One thing that stopped me was where its at now and the initial R:R...

(dont want to be a distraction, just thought i`d share my thoughts)

 

[Lord Flasheart]

short nzd/usd at .7999 sl 7825

same line as before,

1/2off at +11,rest to b/e

will take again if needed

 

[Lord Flasheart]

this nzd trade had more going for it. it is a pullback to the line and also an area of resistance several times. my risk is 25 pips x 2. i would have been unlucky for it to rise through all of that resistance tonight. The reward could be all the way down to todays low and beyond. Although weve had a rise of 150 pips over the last two day I am not getting in the way of a steam train as some would think I am doing and trying to catch a top.The market has stopped after pulling back to a previous high which has been preceeeded by a break of trend a couple of days ago. To me this is a cheap buy. If it goes wrong Ill look for another one

 

[Lord Flasheart]

short nzd at.8005 sl .8030

late in the day but could see an overnight fall away from the line so have entered with small stakes

 

[jungles]

Greetings

AUDUSD
sell 1.0408
SL -30

* high risk.......do not try this at home

 

[jungles]

Audusd 240
.

 

[justtrader]

Audusd 240
.

Thanks Jungles!
I have a strong sell @ 10418 and a even stronger one at 10429 so selling at 10415 now with a stop of 30 points

 

[jungles]

no worries, and good luck to us

Thanks Jungles!
I have a strong sell @ 10418 and a even stronger one at 10429 so selling at 10415 now with a stop of 30 points

 

[milka]

Morning this Trade is a long way off its entry but if the s and p gets down to 1357.4 i shall be buying, patience required

so order pending at this level for now, this could "change" if price action changes

stop will be 8.6 s and p points

target is 8.6 s and p points

 

[jungles]

-5

*decided to exit early, due to mixed signals..........the trade feels 50/50, prefer to be out

Greetings

AUDUSD
sell 1.0408
SL -30

* high risk.......do not try this at home

 

[rsh01]

Morning all,
Sell NU 8035 SL8045 TP8000 counter trend trade so small TP.

 

[rsh01]

Morning all,
Sell NU 8035 SL8045 TP8000 counter trend trade so small TP.

Stopped.

Sold EU @315 SL325 TP290

 

[DDI]

long gold 1583. stop 1578

 

[rsh01]

Stopped.

Sold EU @315 SL325 TP290

Out EU +15

 

[splashy]

long ftse 5706, stop 12. Hoping it will catch up with dax.

 

[D.Gilberto]

Order long: (not yet hit)

USDCAD

1.00549 - entry
1.00070 - SL
1.01028 - TP

Will confirm

 

[Lord Flasheart]

short nzd at.8005 sl .8030

late in the day but could see an overnight fall away from the line so have entered with small stakes

-25

nzd right at top of resistance thinking about selling