Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Mysticforex

Trading from 1 Trend Line to Another, or What I Call the 2 Trendy

Recommended Posts

This is the same setup we used last week on the GBP/JPY

http://www.traderslaboratory.com/forums/forex-trading-laboratory/13253-gbp-jpy.html

 

I missed this one today, but here is another example of the same trade with the GBP/USD.

First is the 15M chart with a decending TL. Then we drop down to the 5M chart also with a desending TL. On a CLOSE above the 5M TL, we trade up to the 15M TL.

 

First is a chart of the 15, then the 5.

 

On a close above the 15M TL I would be looking for the Weekly Pivot @15450.

 

PS: I always use a 10 pip bufer when targeting pivots to make up for differences in platforms, spreads, etc.

 

PPS: The break (Close above ) the 15M TL could be imminent.

gu15m.thumb.gif.63e0ccf771a1470c7717991e0632371b.gif

gu5m.thumb.gif.ffd995aa16d5745f0bb2b2b17c2963c2.gif

Edited by Mysticforex

Share this post


Link to post
Share on other sites

my apologies as I'm sure this is redundant, but is that mt4 profile posted anywhere? I'm with Oanda as well but I've been using tradingview charts for the most part because I'm not too familiar with mt4

Share this post


Link to post
Share on other sites

Here's a setup I am watching. GBP/JPY 1 hour chart.The blue TL on top of chart is from the 4 hour. The TL price is approaching now is the one hour. On a close above the 1 hr TL I will buy with TP being the 4 hour TL. I believe G/J will test 12500 if the trade opens, but since we play by the rules the 4 hour TL will be the target, say 12410 for a buffer.

( notice also that the daily pivot has not yet been hit... G/J has a high % of hitting it's pivots)

 

Here's the chart:

gj1hr.thumb.gif.4d9390a1d1f1a27d49e687b1258703c3.gif

Share this post


Link to post
Share on other sites

Rather then hi jack MACPLUS's thread, EUR/USD, I am going to continue this post ( #27 ) here... http://www.traderslaboratory.com/forums/market-analysis/13388-eur-usd-4.html

 

I don't consider the break of the TL in the following chart an entry. Price has just "Ranged thru the TL....

 

In the second chart, I have re drawn the TL.

eu2t.thumb.gif.dbc61a00000bbf8f9ee8156ada6c9d72.gif

eu2t2.thumb.gif.d40d4199ad3f6fa76b544d52c5a75203.gif

Edited by Mysticforex

Share this post


Link to post
Share on other sites

It looks as if this has run out of gas. It's been heading downhill since the London Open.

With today's USA Bank Holiday, I don't expect to see much more today, but, one of the reasons I don't trade on holidays is sometimes the unexpected happens.

I'am going to a BBQ.

 

One way or the other, we should see a pop on Fri for NFP.

eu2t2.thumb.gif.1a3a881f7910bc662eb5594d5d9314c4.gif

Share this post


Link to post
Share on other sites

Old support is the new resistance?, or so THEY say.

If any of you follow my GBP/CHF thread you will notice unhit WP, and DP hovering above.

 

EDIT: A close above the TL on this 1 hour chart, and I will be looking for the Weekly Pivot.

eu2t.thumb.gif.20caf0b138588ceca994dcebc2f0b797.gif

Edited by Mysticforex

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • How's about other crypto exchanges? Are all they banned in your country or only Binance?
    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.