Thread: Simple 5 Min Gold (XAUUSD) Strategy

Originally Posted by ;

quote Yes if you read the thread ( https://www.nigeriaforextrading.com/...power-1x8.html) then you will learn quickly how to draw perfect terndline.

Okay. I am not convinced you need a MACD to draw trendlines, but was curious to determine if drawing a trendline can be made objective. There are a few other subjective considerations, although it seems like we are close.

Just how long have you been trading like this? Is it working well for youpersonally?

This can be recent one more installation on Gold. You will receive lot of installations on 5 Min chart in a day.

Originally Posted by ;

quote Okay. I'm not convinced you need a MACD to draw trendlines, but was curious to see if drawing a trendline could be made perfectly objective. There are a few other factors, although it seems like we're close. How long have you been trading such as this? Is it working for youpersonally?

You can draw trendline because it suit you. I told that is very subjective and each trader draw different way. I wished to draw on trendline using MACD. It keeps me from several signs.

Originally Posted by ;

quote You can draw trendline because it suit you. I told that is very subjective and each trader draw in different way. I wished to draw trendline with MACD. I am preserved by it from false signs.

No, no, sorry I did not mean to criticize. I get it I enjoy it on Ninjatrader, there is an indior called Swing. It plots points on the chart which are lowest or the highest point of the previous X pubs and the X pubs, clearly and objectively specifying swing points. I use those to draw trendlines. Thank you for your thoughts -

Originally Posted by ;

quote No, no, sorry I did not mean to criticize. I get it - I enjoy it - on Ninjatrader, there's an indior called Swing. It plots points on the chart which are the lowest or highest point of the X pubs as well as the prior X pubs, clearly and objectively specifying swing factors. I use these to draw trendlines as its the same every time. Thanks for your ideas -

That is great. I am looking for traders to polish this egy for the best results. You're able to share your Thoughts here. No problem

Originally Posted by ;

quote Hi jmflukeiii Outstanding Observance, I truly appreciate you. Allow me to clarify. It's possible to draw this trendline however chances are less to get profit but you're getting 7 pips there. But I won't draw on this trendline because of these reasons 1. Higher high or high that is Lower should be clear two. Look at the candle. . These are very little 3. There are 3 equal top candles which indies something ahead like resistant or some other level ( We won't trade if we see a direct resistance or support after breakout. 4. Market has no volatility so chances...

Hello, thank you for this fantastic egy!

My opinion is about your case. You said under number 3: There are 3 equal top candles which indies something ahead like resistant or some other level ( We won't trade if we see a direct resistance or support after breakout

This is the picture, I outlined my observings in yellow colour and the comment is:

You explained, we won't trade if we see an immediate resistance or support. But in you picture above an entry candle after breakout there is an immediate resistance. Look left.

Http://screencast.com/t/czHH1LK2

There are 3 equal best candles which indies something forward like resistant or some other level ( We won't trade if we see a direct resistance or support after breakout.

Am I missing something?

Hi, and yet another question:

Is this enough of shut over the trendline? (I outlined with red square)

http://screencast.com/t/esEF58T6

ty

Another instance:

valid entry? I know there a direct resistance to the left, but I am considering the breakout itself. Seems a entry. But I shouldn't take it since it's at resistance ?

http://screencast.com/t/Sbwc4B7pnV88

Originally Posted by ;

quote Hi, thank you for this wonderful egy! My comment is regarding your example. You said under number 3: There are three equivalent top candles which indies something ahead like resistant or any amount ( We won't trade if we see a direct resistance or service after breakout Here is the picture, I outlined my observings in yellowish colour and the remark is: You said, we won't trade if we see a direct resistance or service. But in you imagine above an entry candle after breakout there's an immediate resistance. Look left. Http://screencast.com/t/czHH1LK2...

Hi LettrB,

First of all draw support and resistance areas then threndlines. If you see there's a strong resistance or service after trendline breakout 5 pips then wait for the price to break the service and resistance area.

The picture I added was a snap shot, I did not draw support and resistance area. It was an example. .

2nd that I will tell you how draw support and resistance areas, which places are significant. As I mentioned I will tell a lot things. Practice it. I will write more thoughts.

Originally Posted by ;

another example: legitimate entrance? I know there an resistance on the left, but I am considering the breakout itself. To me looks a entrance. But I should not take it since it's at resistance ? Http://screencast.com/t/Sbwc4B7pnV88

Yes it's ideal trendline. However, there's resistance. . So leave that trade