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.
http://forex-strategies-revealed.com...ading-strategy
However, when it comes to myself I am having a dilemma on how to properly draw trend lines. 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?
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.
http://forex-strategies-revealed.com...ading-strategy
However, when it comes to myself I am having a dilemma on how to properly draw trend lines. 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?
Trendline Trading Strategy by Myronn vs Tom Demark Trendline
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