4xpipcounter's trendlines

[4xpipcounter]

Re: Nugget #1

Sibumajumdar, I will have more nuggets later, but it is still my opinion that
a TL trading system is the easiest thing around.
As always, I ask no one to believe, and to just plot them on your charts, or to back test them, and see for yourself the simplicity. BTW, I am tickled, as I know there are many already doing it. Upon doing that, it becomes knowledge that becomes a part of you, rather than something handed down that someone would believe on here say.

Dear Vijay, Thanks for your suggestion. But i feel ami is tough for me to code & handle. Moreover, i wish to keep my trading system less complicated, simple & inexpensive. At present i feel comfortable to trade with PIB indicators as last 11 sessions gave me continuous profit for my capital of 20K. But Mr 4Px"s TL system will help me partially shift to Positional trading...anyway thanks again.

 

[arjit]

EUROUSD has broken Trendline and upper brakeout near 1.41250.Now trading at 1.42234.What a brakeout according to trendline as 4XP has taught.Thanks Sir.

 

[4xpipcounter]

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Arjit, thank-you! I was going to post the chart, but I'm glad you noticed it beforehand.
The next thing we will witness is a topping process, and then a gravitational pull back to the point it broke or the TL. Once that is complete, then the uptrend will continue. In trading this, the entry is a long anywhere between the break and the TL.

EUROUSD has broken Trendline and upper brakeout near 1.41250.Now trading at 1.42234.What a brakeout according to trendline as 4XP has taught.Thanks Sir.

 

[4xpipcounter]

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I'll keep tracking this pair because of the live implications. Arjit already pointed out the break, and now the reversal is happening. We are looking for a move to at least the point it broke the TL. That would be an entry point for the long position.

 

[4xpipcounter]

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I don't want to appear self-centered on my posts, but it needs reinforcing.
This is the GBP/USD. It broke the daily TL with a good size candle, and then the wick hit the TL, and then the move. So far, it is over 100 pips, and it has barely gotten out of the starting gate.

Review and a new point that was not mentioned before:
1. The strong move in the initial break. There should always be a strong move on the break.
2. The retracement back to the TL. Here's the point of it I did not mention before. The personality of the retracement. This retracement was bumpy. The EUR/USD's was sharper. There is no definite personality on the retracement.

One thing I did not mention in nuggets #1, and maybe I should emphasize it. If you are not the aggressive type of trader, and you are very patient. this type of trading is like getting a signal to make the trade long before the events. Simply put, the candle blasts through the TL. Afterward, a correction is going to happen. Once it pulls back between the crossing point and the original TL, you enter the trade, and then it moves in your favor.

 

[VJAY]

Dear paul,
Look this TL ..its break and reversed above TL break point ...in this scenerio how handle short pos?Where we put stop for this short trade which is failed.....Give your views....

 

[4xpipcounter]

VJAY, thanks for your post. I was getting ready to post my view concerning the DJIA, because of a request, which was going to be done in my other thread.
The point you made is excellent, and was going to be a feature in "nuggets 2". Therefore the answer of your question will be contained in it.

Dear paul,
Look this TL ..its break and reversed above TL break point ...in this scenerio how handle short pos?Where we put stop for this short trade which is failed.....Give your views....

 

[krishere]

Isnt this trendline now more valid??? Or is it invalid because there is a new Pivot-Low????
Krishna.

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I don't want to appear self-centered on my posts, but it needs reinforcing.
This is the GBP/USD. It broke the daily TL with a good size candle, and then the wick hit the TL, and then the move. So far, it is over 100 pips, and it has barely gotten out of the starting gate.

Review and a new point that was not mentioned before:
1. The strong move in the initial break. There should always be a strong move on the break.
2. The retracement back to the TL. Here's the point of it I did not mention before. The personality of the retracement. This retracement was bumpy. The EUR/USD's was sharper. There is no definite personality on the retracement.

 

[4xpipcounter]

An exception to the rule

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This picture of the USD/JPY is clearly an exception to the rule. We had the break of the TL, then price came back up and hit it and corrected, but the correction was insignificant. Then, the TL was taken out again.

I'll address the rest of the questions later. I am really tired, adn its close to the end of the day here.
Also, "Nuggets 2" is coming up.

 

[VJAY]

Waiting for your "Nuggets 2"