Special Trend Lines for 50 pips a day from London open

HI,

I am going to share with you all a little secret fro trading the trend line break on the 15 min time frame fro 50 pips from London open

This system has produced 6 winners in a row from last Friday

the set up is easy to do once you get the hang of it ,

what you need to do is find the last candle in an up move or down move then get a trend line and place it on it , drag the trend line 10 candles into the future and make the trend line horizontal ,

if the next candle closes higher or lower just move the trend line up or down with the market ,

next you want to count back a maximum of 14 candles to connect the end of the horizontal line to the trend line slope and connect it to the high or low

I will show you an example of todays trade for 50 pips

Stop loss is only if the price closes past the horizontal line
 

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grugged

Member
jamesagnew717;n2348489 said:
HI,

I am going to share with you all a little secret fro trading the trend line break on the 15 min time frame fro 50 pips from London open

This system has produced 6 winners in a row from last Friday

the set up is easy to do once you get the hang of it ,

what you need to do is find the last candle in an up move or down move then get a trend line and place it on it , drag the trend line 10 candles into the future and make the trend line horizontal ,

if the next candle closes higher or lower just move the trend line up or down with the market ,

next you want to count back a maximum of 14 candles to connect the end of the horizontal line to the trend line slope and connect it to the high or low

I will show you an example of todays trade for 50 pips

Stop loss is only if the price closes past the horizontal line
So does the last candle of the movement have to occur after the london open?
And are you counting the 14 candles from where you have the tenth candle?
 
grugged;n2348511 said:
So does the last candle of the movement have to occur after the london open?
And are you counting the 14 candles from where you have the tenth candle?
No,

its from the open

so you take the nearest lowest or highest candle from the open and plot the trend line on it , you count back a maximum of 14 candles for the highest high or low
 

Aravind

Active member
Thank you for sharing the strategy, but I am confused with the way you have used the words horizontal line and trend line slope.

You said "
drag the trend line 10 candles into the future and make the trend line horizontal ,
". Why are we making trend line "horizontal" ?


Also please correct my understanding :
By the time you draw trend line the London open candle and the next candle would have already decided if the trendline is broken ? and
it seems you are not waiting for trendline to be broken ?
 

Juan$fz

New member
jamesagnew717;n2348495 said:
Wednesdays trade

it works
This technique I had already heard before, could you explain better please. I do not understand, the trend line when opening the opening. It is assumed that when you open the London sail you do not know what the address is. Sorry for my english.
 

maximo

Member
Wouldn't the 30 min trade have been successful if you draw the horizontal line at the top instead of the bottom?
 

joe0074

Member
I think you draw the horizon line wrong.

The horizon line in your screenshot must be drawn at the high point, not from the lowest point.
From the high point, you count 10 future candles and then draw the trend line to the lowest point (no more than 14 candles)

For sell trade, the horizon line must be drawn from the highest point ( The trend line will be drawn from top to bottom)
For buy trade, the horizon line must be drawn from the lowest point ( Then trend line will be drawn from bottom to top)
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I attach the screenshots here. (cannot edit the above post)
 

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