[Simple Trading System] Trendline Break (The Only System You Need)

[desifxtrader]

Re: Potential Trade Setups

Couple of setups occurred some hours ago, sorry for the delay friends; because of inaccess to my PC & limited time I was unable to post them earlier.

USDCHF:

Potential Long trade @ 1360 (currently @ 1474), initiate long now or after a pullback, keep a 160 pips SL. Probable run till 1900/2000.

EU:

Potential Short setup @ 2230 (currently @ 2190), initiate short now or wait for a pullback, keep a 170/200 pips SL. Probable run till 1800/1600.

Similar setups could be found in GU & AU.

** However, I'm not satisfied with the current situation of the setups of the pairs because there wasn't a good pullback prior the main flow, hence I expect there won't be a run with a full impact; so, I'd reduce my exposure to 1%.

Euro trade was exited @ breakeven.

SL moved up for Swissy.

Aussie trade showed some progress but I'd rather be more cautious since US$ is now @ R zone - 89 AND it seems that Aussie has recognized the 8150 level.

 

[desifxtrader]

Wazup next week? {May 24-28}

Feeling optimistic about US$ Index crossing the 88/92 R level:

And if it doesn't cross, no big deal ;P I'll do my work
​

Gold approaching long term demand zone:

We may witness fresh buys coming in. A break below (horizontal line) $1160 and subsequently the Up trendline, would be a strong indicator of change in sentiments.​

 

[desifxtrader]

Re: Swing Calls by desifxtrader

EURUSD:

The Return of Euro !!​

As rule of thumb, we don't know. It has hit the Long term demand zone and we're witnessing action. What's noticeable is, Euro created a fresh low since June 2006.

Tats Enough. Lots of history lessons !!@##

What to expect upcoming??

Support level = S1 (Refer chart)

Resistence R2 seems to be much stronger then level R1.
Keep an eye on 2500, 2700/2750 and 2900 marks.
With an eye on US$ Index, let's see how this pair plays out in next week.

cheers :clap:

 

[desifxtrader]

Re: Swing Calls by desifxtrader

respected sir,
i want to know that, is there any method or calculation by which we can predict next days closing just after the closing of market. if there is a method then could you teach me, i can pay for that. my mail add is drnishikant.gupta @ g m a i l . c o m

thanks
dr gupta

Hello Dr. Gupta,

Welcome to this lovely forum and Congrats on your first post.

That's a good question you've asked:

any method or calculation by which we can predict next days closing just after the closing of market

This question and a variation of it's has been existing among the traders since centuries.

Don't you think if anybody could do the calculation, they would daily pull out double or triple of their investments? Yes, DAILY!!

As per my knowledge, the answer would be "No". I do not know. There are 1000s of gurus and experts out there who would know this answer, but I don't.

Moreover, To be frank, whenever, I see or hear the word 'predict' or 'predictions' in market, I try to run as fast as possible.

Personally, my principal is not to predict but to react to the price action. I believe in logic and simplicity when it comes to trading in the markets.

take care

 

[Edward]

Re: Swing Calls by desifxtrader

desifxtrader, you are too good in drawing trendlines. Very neat and very nice.
keep up the good work.

 

[desifxtrader]

Re: Swing Calls by desifxtrader

desifxtrader, you are too good in drawing trendlines. Very neat and very nice.
keep up the good work.

Hi Edward,

Welcome to this lovely forum.

Thank you for the encouraging words. And here goes your 1st "Thank you" from me. :clap:

Yes, I like my charts neat & clean without all those flashy lights and blinking super-indicators. I try to get close to naked as possible.

 

[Edward]

Re: Swing Calls by desifxtrader

Hi Edward,

Welcome to this lovely forum.

Thank you for the encouraging words. And here goes your 1st "Thank you" from me. :clap:

Yes, I like my charts neat & clean without all those flashy lights and blinking super-indicators. I try to get close to naked as possible.

Stark Naked is always good :rofl: a big fan of that theory myself...

At the same time i have grown fond of few fashionable outfits, designed by me (read indicators)

 

[desifxtrader]

US$ Index

cheers :clapping:

US$ was rejected twice from the 87.50-60 level. It seems we need more power to blow thru this R level. No major changes as compared to last week:

 

[desifxtrader]

Re: Swing Calls by desifxtrader

USDCHF:

This pair seem to have rejected (R) the 1700 level:

USDCAD:

Pair seems to reject the 0750 level:

With reference to the US$ Index chart, you'd be able to get a fair idea what these both the pairs are indicating. However, keeping in mind that the US$ is still in Up trend, we should be aware that these might be just counter-trend movements.

 

[desifxtrader]

Eur/us$ & gbp/us$

For both of these guys, just one word - 'Choppy'

EURUSD:

Bouncing between 2700 and 2100.

What's noticeable is:

The pair has made a higher swing low

EUR gaining strength or US$ weakening??

===================================​

GBPUSD

Action remains between 4250 & 4500.

cheers