Hi neverallin, "When you can read divergence within price action, you have no use for divergence indicators" Fair comment. I admire your expertise, maybe one day I'll be able to do the same? This application may not be applicable to Forex I trade ...

Behind Trendlines

Hi Neverallin, Why not transfer the higher timeframe pivot values used to draw your trendline, to the timeframe you trade from? Gets rid of those insignificant "tails" Failed trendlines I'm sure you do this, but it may be of interest to others: ...

Behind Trendlines

Just a quicky. Whichever timeframe you use to draw your trendline - there will always be a certain degree of noise - and this does not help in the drawing of our trendlines. If we move to the next higher timeframe you can pick out the relevant ...

Behind Trendlines

Trendline Scanner — I have just done a google search for " Trendline Scanner" (idle hands) "The Ramp Chart Pattern Recognition" scanner looks interesting but may be more useful for stock trading where a large number of stocks are considered? I ...

DanUK's Advanced Trend Trading Strategy

Hi Kiwi trader, Sorry if I offended you, no offence was intended. I do appreciate the use of channels. I did not explain myself very well in that post (in general). I was distracted by another ongoing event after I had started typing the post. ...

DanUK's Advanced Trend Trading Strategy

The above refers to post 177

DanUK's Advanced Trend Trading Strategy

Hi Entropy/Dan I think that's a fair question At your exit point, a channel could not be drawn, so that theory is out (sorry kiwi trader) To answer your question, I think Dan looks to exit at a S/R level, preferably "a round number" with ...

DanUK's Advanced Trend Trading Strategy

Hi Dan, Its just our difference in terminology: A pivot high consists of basically 3 bars - The pivot high being a bar that is preceded with a bar that has a lower high, and is followed with a bar that also has a lower high A pivot low is the ...

DanUK's Advanced Trend Trading Strategy

Hi Dan, If we are after the multi month moves, then we probably need to draw our trendlines thro the major pivots. The more bars that we have on our charts, the bigger the picture we see, and the more important pivots tend to "stand out" better - ...

DanUK's Advanced Trend Trading Strategy

Hi Dan, I'm probably falling into the typical trader trap of complicating and over analyzing a basically robust methodology! But to answer your question - if we can identify price weakness or strength in price as it approaches our area of interest ...

DanUK's Advanced Trend Trading Strategy

Bol Band exits — Hi pipstroll, Bol Bands can be used as a stand alone trading method. Exits: Will assume an uptrend, downtrend is just the opposite. 1 If price trades outside the upper bol band, this is unsustainable, when it returns back ...

Bollinger and EMA discussion

Hi Dan, Do you look for any particular "signs" in price action (other than your candlestick patterns) as it approaches your trendline, S/R zones which help you decide if or not they are likely to hold or be breached? Thank you Peter

DanUK's Advanced Trend Trading Strategy

Hi Dan, Nice concept I sometimes use trendlines in my trading - nice, simple and logical The trendlines more or less harness the price action by "fencing it in" When the fence is broken, price can go more or less anywhere. My problem is that I tend ...

DanUK's Advanced Trend Trading Strategy

You don't have to wait for your stops to be hit! Risk!, Risk!, Risk!

AHA moments in your trading career

RSI / Trendlines — Hi Kareem and friends Just a parting shot....... If you believe in the RSI S/R levels - they may be a good location from which to start drawing your trendlines thro the RSI peaks or troughs (makes sense to me) I tried it on ...

The RSI Trade

RSI / Cardwell — Looks like Mr Cardwell has put me in my place, and it is true that I first read about the 20,40 etc levels in John Hadens book. That was when I realised the potential of the RSI and started "playing around with it a bit more" ...

The RSI Trade

The RSI /Stoch combination — The rsi and stoch are both momentum indicators, but obviously constructed differently. They both operate between 0 and 100 limits However: The RSI(9): uses three zones to move between 0 and 100 1.e. uptrend - ...

The RSI Trade

Hi Rebel, Well there you go, you win some, you lose some, another business expence, that's trading! HOWEVER. I would not have gotten into this trade either if it had kept going down. - I would only trade in the direction of the stoch My entry would ...

The RSI Trade

Hi again Rebelheart, Just looking at your chart again - to continue the analysis (I do not have access to Forex charts - so I do not know the outcome - Stock trader) As the RSI is in a consolidation phase - this is where patterns tend to form and is ...

The RSI Trade

Hi Rebelheart, Nice one! image Trading extremes can be really good and they tend to have a high success rate. On your trade you had advanced warning of the move with the Stoch being oversold and the price being outside the upper band (which is an ...

The RSI Trade