Trendline Trading Strategy by Myronn vs Tom Demark Trendline.
Myron said we draw the trendline by HH (Higher Highs) and HL (Higher Lows) for uptrend and LH (Lower Highs) and LL (Lower Lows) for downtrend. We need a minimum of 2 LH swings for downtrend and a minimum of 2 HL swings for uptrend. Forex Training: Myronn Forex. Forex Training, Free training to greatly improve your forex experience.
The price in the monthly TF is also at the Interesting setup happening here. The question is who needs the indicators anymore? As the demo account has increased significantly, I have also increased lot sizes traded. Active traders Poll - share your live experience or read what others have to say. Forum What is Forex? Who's online There are currently 9 users online. Submitted by Edward Revy on October 4, - Remember, your feedback, comments and suggestions are always in great demand!
A quick update on today's trades. I took the trade as per my strategy 5 pips above the reversal signal on the bounce green arrow was my entry and my stop was placed 5 pips below the indecision candle, everything was going well until that big red ugly engulfing pattern appeared right on my chart, so what I did I closed the trade with a loss of 18 pips.
But what I noticed after that that as per my strategy I should have drawn another trend line from the most recent low and that's how I came up with the Trendline number 2, and that where I took another trade on a green candle which followed the big ugly one. My target was the recent high at 1.
Just a quick update on the trade that I just placed. I personally think it's a great opp as you have nice 1: It would be great if anyone could contribute their ideas and make this thread really stand out as I think it's a great opportunity for everyone to learn, if not I won't support this thread anymore Sep 28, , 9: Hi everyone, I hope you are all doing well. The reason for this thread is pretty simple, I am following the below strategy called Trendline Trading Strategy, the guy who posted on the below link had a really good results from it.
I have read numerous books on how to draw them, but I think too much information is not good as I am confusing the rules here. Of course every single person says to draw the trendline from the obvious peaks and troughs which is pretty simple right?
But I still got few questions about adjusting the trendlines and and choosing the new peaks and troughs. Some people are saying that you need to adjust the trendline from the anchor point where the trend started to the latest peak or trough without cutting through any candles on the way up or down. Again very simple concept but is it correct?
The reason why I am asking about it is because few days ago I read about the way of drawing trendlines by Tom Demark which advises to actually use the most recent peaks and troughs as the demand line is changing, basically he is reading the charts form right to left. Which way do you guys draw the trendlines? I posted the below chart as an example, which one is correct or both of them are correct? Which trendline is more significant Trendline 1 or 2?
Last edited by Fugazsy; Sep 28, at 9: You've reached the Expert level, congratulations! Here we'll go deeper into two of the most important topics for every Forex trader - Psychology and Risk Management.
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Forex forex Now that I am doing well contract account is that appeals to most online and if you do not have any money. Again, do we look at the most recent pullbacks?
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