[Salazar United Kingdom]

Bobby when the market is like this. When there’s a crossing of trendline. do we make a position and trade or wait to see whether they will fully cross it? In my eyes, I would make a buy position and take whatever profit with a small stop-loss

[Belgrade Bobby]

Salazar 😀 You did great in this lame market .

And yes, just post it here – easy for me to see in detail and to tell you when you’re wrong 😀

Nothing wrong this time !

[Salazar United Kingdom]

Bobby I hope it is ok to post my results here – I have followed your advices. EURUSD market is moving sideways but even then i managed to get some profit. Here’s what i did this morning and I’ll call it an early day and grab a coffee 😀

[Belgrade Bobby]

Yes Robinson – this is perfect.

[Robinson Izuchukwu]

AUDCAD should I consider this trendlines valid.

[Belgrade Bobby]

Well Robinson this is now Way better !

Two things :

–          If they break below that trend line that was a resistance before – now support , they will negate the whole Up move

–          Add another parallel trend line on that absolute low that we see on this chart

–          To me this looks Bearish right now

But opinions are like underwear – you change them every now and then J

Now professional advice : If you Buy it, be sure that your Stop loss is locked in – it is not a problem when you are wrong, but it is a disaster if you are wrong and don’t have a Stop.

 

[Robinson Izuchukwu]

I am expecting uptrend here on USDCHF, please I’m I even improving on the drawing of trendlines. DAILY CHART

[Belgrade Bobby]

Salazar, we use them for as long as they are not broken.

You draw this chart professionally mate.

Now look at that “Empty” space between Upper and Lower Channel – This is what I named The Banana Slide – and believe it or not it exists at least 30 years – I have found it out on old USDDEM charts , and when EUR was born , I didn’t expect to see it again…but there it was…and still is 😀

[Salazar United Kingdom]

Im looking at weekly charts right now and I notice from previous week that trendline that we draw before which we use for resistance and support isnt not always the same. I’ve got a question?. How long does the trendline from before stay true. How long do we keep using it the lines we made from the past?

[Belgrade Bobby]

EURUSD 4h

Check out how Channels work…

[Belgrade Bobby]

Yes David you can draw it on any charting system. It might look a bit different depending on the size of your screen, size of the station, how many bars you put in the chart…but you’ll get the same result.

[David Lagos Nigeria]

I have a question,
You know that, not all the charts look exactly like this.
My questions Is that can I draw this type of trend lines and channel on any other charts that doesn’t look exactly like the you posted earlier?

[Belgrade Bobby]

Yes David – this is how it has to be 🙂

[David Lagos Nigeria]

Ok, now I think I am getting it a little, that why I went to correct myself, and I really appreciate the explanation,

[Belgrade Bobby]

David, look at my charts and you’ll see that I am always drawing Channels – once I draw the trend line, I clone it ( make a parallel line ) based on that trend line.

Then I look for Tops that make sense and place that Parallel line .

Reason for it is to get a “playing field “ – range within which I expect the instrument to move. So that way I get ideas what can I expect the profit targets will be.

Tomorrow I’ll post another lesson, and this one will cover this issue fully – again, if you find something not clear, just ask.

Here is how it should look like:

Gold 15 min

Bigger channel , separated in two levels

Sharper angle trend line – you add a parallel line to the top, and you get a channel within the channel.

If that Support holds, you can expect it to go till the upper line…

[David Lagos Nigeria]

Hello Bobby,
Please check my chart and tell me where there’s a mistake in drawing the trend lines.

[Belgrade Bobby]

GBPCHF 4h

Supports : 1.15950 , 1.15600 & 1.15250

Resistances : 1.16250 , 1.16350 & 1.16500

Close of this Bar above 1.16200 would call for more Up

Break Above 1.16500 would open a new playing field – Higher channel !

Robinson, where are the trend lines on your chart ?? Playing on hunch or gut feeling ???

Let me be clear – we can all hit the gold once in a while, but we need to be wrong just one time , going in without the stop and the whole margin will be wiped out easily.

Discipline is the Major part of trading .

Rules of engagement .

Please try to copy my trend lines for now…I should know what am I doing …

[Belgrade Bobby]

XAUUSD – Gold 4h

This is the current playing field.

Supports :  2400.00 , 2390.00 & 2.375.00

Resistances : 2.415.00 , 2.425.00 & 2.450.00

To continue Up, needs to close this or the next bar above 2.410.00

As long as within this channel , it is in Up trend.

Watch for possible triple Top on Daily !

This is not any more an easy task.

[Robinson Izuchukwu]

Looking at GBPCHF, I think it’s high time to push up more as the chart in weekly TF has broken the recent resistant @1.16239 and turn it a support to push above 1.21657 

[David Lagos Nigeria]

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