tag:blogger.com,1999:blog-8302816107417766130.post6907701211803272639..comments2023-10-28T15:41:00.456+02:00Comments on Free Forex Training | Trading Strategies | Forex Mentor|Forex Brokers|: Dynamic TrendlinesUnknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-8302816107417766130.post-39412911209719525092008-03-14T15:02:00.000+02:002008-03-14T15:02:00.000+02:00Hi Bart Yes you are correct the market was in a ti...Hi Bart <BR/><BR/>Yes you are correct the market was in a tight band of consolidation and that is the low I used for my channel and once price broke that I went short for about 50 pips.<BR/><BR/>The low of 5 March became the new bottom of a bigger channel.<BR/><BR/>Happy trading.Graham du Plessishttps://www.blogger.com/profile/16274980964399981682noreply@blogger.comtag:blogger.com,1999:blog-8302816107417766130.post-73788663603742153132008-03-14T02:24:00.000+02:002008-03-14T02:24:00.000+02:00Hi Forexman, it's Bart again. Just for a last expl...Hi Forexman, it's Bart again. Just for a last explanation: when you say "As price broke the low of my previous channel" your previous channel was the the most recent low before market stalling. Which in the first picture would be the low from 4 March 18.00 hours, is this correct? <BR/><BR/>I am asking because I have problems understanding whether in terms of Channel you need to refer to the most recent low, or the lowest low.<BR/><BR/>An I am practicing this exercice on the current AUD/USD 1H chart, can you see the amazing vertical run? :) I made quite a lot of pips on it!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8302816107417766130.post-19315241845977850952008-03-14T00:35:00.000+02:002008-03-14T00:35:00.000+02:00Hi BartThanks for the comment. Your thinking is al...Hi Bart<BR/><BR/>Thanks for the comment. Your thinking is almost correct. The bottom blue line is actually my channel line.<BR/><BR/>As price broke the low of my previous channel, once the new low was confirmed I dragged a line parallel with my down trend line using my new low of 5 March to form the bottom of the new Channel.<BR/><BR/>Once price broke through the top of the new channel the first trade was entered. <BR/><BR/>The scaling in started once the new high had been formed allowing the placing of a new trendline at the same angle as the first.<BR/><BR/>The channel breakout is intergral to the system as it gives a clear signal of a possible reversal.Graham du Plessishttps://www.blogger.com/profile/16274980964399981682noreply@blogger.comtag:blogger.com,1999:blog-8302816107417766130.post-11170354637087073132008-03-13T23:18:00.000+02:002008-03-13T23:18:00.000+02:00Hey Forexman! I love your explanation for the dyna...Hey Forexman! I love your explanation for the dynamic trendlines. I was looking for one on the net and I think yours is very clear and well explained. I do not understand however how were you able to trace in the first picture the bottom blue trend line, which connects the low from 3 March 14.00-15.00 to the low from 5 March 10.00. Is this a simple copy-and-drag from the top blue trend line? My initial guess was that, as the market was stalling from 5 March 6.00 to 5 March 10.00, you were consistently copying and dragging trendlines from the top blue one, and connecting them with the most recent lows from 4 March 18.00, then 4 March 10.00 etc. In summary you had dynamic trandlines, but in a downtrend, until the market bottomed at 1.9720. Is my view correct or am I missing something?<BR/><BR/>Thanks again!<BR/><BR/>BartAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8302816107417766130.post-48717981174350037642008-03-10T00:07:00.000+02:002008-03-10T00:07:00.000+02:00Hi Rob I agree with that for the longer term trade...Hi Rob <BR/>I agree with that for the longer term traders. I am however strictly a day trader. I seldom stay in the market overnight. <BR/><BR/>I mostly trade the Euroupean and London trading sessions strictly in the Forex market and find the technicals work very for trades lasting a few hours rather than days weeks or months.<BR/><BR/>If I went back to equity trading then obviously the long term view and fundamental analysis would play a more important role.Graham du Plessishttps://www.blogger.com/profile/16274980964399981682noreply@blogger.comtag:blogger.com,1999:blog-8302816107417766130.post-37601152755629748522008-03-09T16:18:00.000+02:002008-03-09T16:18:00.000+02:00I've always enjoyed a technical treatment of marke...I've always enjoyed a technical treatment of market moves. As an old maths major, it's nice to see fibonnaci is still hanging around and doing some good. But I disagree with a purely technical approach. You can argue persuasively that markets are somewhat irrational and so deserve technical treatment, but it's always good to know how to read a balance sheet and income statement, and be up on market conditions and trends in related equities.Anonymousnoreply@blogger.com