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► IntroductionThis article is a continuation of "Profit from Trend Lines' Confluence". In the previous article, we talked about how to profit from trend lines' confluence. We learned to draw trend lines and mark an area around two trend lines' confluence point. Then, we just wait for price to test the confluence area and enter a trade.In this article we will take a closer look at trend lines. I would like to suggest a better way to draw trend lines. This lets us draw trend lines more correctly. It also helps us find more trend lines and confluence points on a chart. Therefore, the number of potential trades increases too.Also, I have done some back tests on Daily charts. I tried to test different aspects of this strategy: the confluence area, test candle, trade rules etc. I wanted to see if any of them can be improved. I hope the conclusions will help us make this strategy more precise and profitable.__________________________________________________________________________________________► Old Rule For Drawing Trend LinesIn the previous article, we drew trend lines by simply connecting candles' lows for an up trend, or candles' highs for a down trend. The problem with this approac…
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geula4x avatar
geula4x 19 June

@David_ Thank you :) Same wish for you :)

AdamFx42 avatar
AdamFx42 21 June

Extremely tidy - well written, you must be a scolar of some kind -- do you study a language/ or economics?

geula4x avatar
geula4x 21 June

@AdamFx42 Thank you :-) I'm actually a software engineer by profession. I try to use a simple analytical approach of price action in my trading and articles.

deliriou5 avatar
deliriou5 27 June

Nice post! +1

geula4x avatar
geula4x 27 June

@deliriou5 Thank you :-) Happy trading today :-)

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8/33
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► IntroductionTrend lines are one of the most important technical ways to analyze a chart. As traders, finding and drawing trend lines correctly is very important. Trends usually act as moving support and resistance levels.Price often keeps above or below trends, for an extended period of time. Trends are usually good entry points for trade positions. Also, they help us gauge the general direction of the market and how strong the move is.In this article we will discuss how to profit from trend lines' confluence. This is a complete strategy with entry, stop loss and take profit levels. We will use a simple, step-by-step approach for achieving this goal.We will analyze the Daily time frame. However, you can use the same technique for any time frame you trade. Some recent charts of EUR/USD are also included, for a better understanding of this method and how easily it can be used.This is a very technical method. So perhaps it can be automated. If any JForex (or Visual JForex) programmer is interested, please feel free to automate it. I think that many traders, including myself, could benefit from it.I hope you find this article helpful for your trading. :-)_____________________________…
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geula4x 28 May

@Ahmed4x Sure, my pleasure :-) Happy trading today :-)

Panzer avatar
Panzer 31 May

Nice article, good luck +1

geula4x avatar
geula4x 31 May

@Panzer Thank you :-) Happy trading today :-)

SpecialFX avatar

Trend lines are very useful in trading, so thumbs up for a good article explaining a strategy with them :) Just be careful with "I am quite sure that I've seen this setup work again and again in live trading", our brains usually fool us by showing us mostly the good trades and ignoring the bad ones, I've been burned by that in the past. Always fully test a strategy, don't rely on what it may seem you are seeing, it may be wrong... :) I also like your little arrows to separate topis, I think I've seen then before :D ;)

geula4x avatar
geula4x 2 July

@SpecialFX Thank you for your comment :-) Happy trading :-)

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