Trend Line Trading - Page 14

cliff · #**196** (**permalink**) 12-05-2008, 12:03 PM

Not sure if i am on the right page when it comes to Divergeace ?. Maybe someone can tell me if I am off bye looking at the charts
Thanks!!

OxyGen · #**197** (**permalink**) 12-10-2008, 01:06 AM

Hi ya Folks!

I seemed to notice there exist 2 channel parallel trendlines for Yen pairs, one starting from around 22nd Sep, and one around 30th Oct.
Pardon for the rough drawings....

I post GPB/JPY as an example.

(AUD/JPY, CAD/JPY, EUR/JPY, USD/JPY same pattern. While CHF/JPY and NZD/JPY have only a single line staring from Sep.)

If it is any (predictive) indication, GPB/JPY jumped up and broke the Oct trendline, and (maybe) start to follow the Oct trendline downwards.

Maybe other Yen pairs may follow suit?

Is this pattern of any significance? Is there a more professional way of stating the pattern? (is it "pitchfork"?)
If yes, then 22nd Sep and 30th Oct may become significant dates, and the value of the indicators like RSI, MACD on those dates may also be significant.

Thx!

Jewel · #**198** (**permalink**) 12-16-2008, 01:05 AM

This pair at important support. looking for a a bounce and continue the major upward treand.. watching the marked area closely.. sugestions are welcome

regards

Jewel

adelin2 · #**199** (**permalink**) 12-16-2008, 10:23 AM

I wonder if Fibonacci indicator is supported with basic trend lines, and if trend lines are also what we call supports and resistances. I guess those give some notion about how to invest, but do you have some more indicators to help traders to define when trust these indicators? Adelin

Jewel · #**200** (**permalink**) 12-16-2008, 11:24 AM

Ref to post 197, Euro/GBP long closed. Looking for a pull back to enter long for target .9150 and parity

regards

Jewel

YusuFX · #**201** (**permalink**) 12-17-2008, 04:45 PM

Paul Trader · #**202** (**permalink**) 12-29-2008, 11:33 AM

It seems there is a new bullish trend in the EURNZD daily chart. It looks like we can just trade along this new trend line, which is solidified by the fibonacci lines drawn from the previous high and low.

brad_1199 · #**203** (**permalink**) 12-30-2008, 02:19 AM

NZDUSD may be about to break higher... Wait For A Daily Close Above Resistance At .5900 to enter long... Targets at .6341 and .6700

There are two visible down trend lines on the chart... Price has already pushed above the first one and will now most likely attempt a rally toward the second down trend line

omboua · #**204** (**permalink**) 01-05-2009, 12:59 PM

falling USD/CAD

omboua · #**205** (**permalink**) 01-05-2009, 01:12 PM

Break up the trend line

newtrader83 · #**206** (**permalink**) 01-05-2009, 02:46 PM

Quote:

Originally Posted by omboua

Break up the trend line

I currently have trendline resistance sitting @ 66.78.

brad_1199 · #**207** (**permalink**) 01-05-2009, 05:10 PM

Here is a shot of the EURJPY Daily chart.. We can see price is wedged up under the down trend line after creating a triple bottom.. I expect price to cross over the line and head higher over the next few days and weeks.... This chart shows good use of trend lines, in conjuction with bollinger bands to define the range and stochastic to identify over bought and oversold levels.... The 20 Day moving average runs through the middle of price inside the bollinger bands and has clearly now turned upward.. Bulls have taken control now.... Price is sitting perfect for long entry now with the 20 day moving average coming up under price which will ultimately push it higher.... Also notice over the past few weeks price has created a triangle shape which is sloped upwards.. This is a bullish continuation pattern

newtrader83 · #**208** (**permalink**) 01-05-2009, 06:09 PM

Quote:

Originally Posted by brad_1199

Here is a shot of the EURJPY Daily chart.. We can see price is wedged up under the down trend line after creating a triple bottom.. I expect price to cross over the line and head higher over the next few days and weeks.... This chart shows good use of trend lines, in conjuction with bollinger bands to define the range and stochastic to identify over bought and oversold levels.... The 20 Day moving average runs through the middle of price inside the bollinger bands and has clearly now turned upward.. Bulls have taken control now.... Price is sitting perfect for long entry now with the 20 day moving average coming up under price which will ultimately push it higher.... Also notice over the past few weeks price has created a triangle shape which is sloped upwards.. This is a bullish continuation pattern

As always Brad, great work. What are your thoughts on the GBP/USD trade you posted early last week? Looks like it is going pretty well.

brad_1199 · #**209** (**permalink**) 01-06-2009, 05:59 AM

Quote:

Originally Posted by newtrader83

As always Brad, great work. What are your thoughts on the GBP/USD trade you posted early last week? Looks like it is going pretty well.

I've got a small long position running in GBPUSD now.. I will wait for a push a little higher to add more....

omboua · #**210** (**permalink**) 01-06-2009, 03:46 PM

Hi Brad,

I add some kind of confirmation to your post