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  1. #1
    Senior Member Mike M's Avatar

    Simple Balanced System Take 6 !!!

    This meets the requirements of the strategy. The price bounced off my uptrend line as well as a support line.

  2. #2
    Senior Member Mike M's Avatar
    Name:  USDJPY 10.5.16.jpg
Views: 17
Size:  17.0 KB
    I'm having trouble making my images large enough so please bear with me till I work it out.

  3. #3
    Legendry Member Michael Hodges's Avatar
    What's that red line you have in the first chart, looks like it's at 109.25? If that is a resistance line from past action it is likely why this trade failed.

  4. #4
    Senior Member Mike M's Avatar
    Thank You Sir,

    I rushed into this trade a little too quickly. I'm starting to see why S&R lines are important aspects to consider, even if all the
    other conditions of this strategy have been met. That red line was a old resistance line. Price had bounced off it and had been on a
    upward climb since the 6th May so I thought it might continue. I shall be more wary of approaching S&R lines of historical significance
    moving forward. Thank YouName:  Screenshot_4.jpg
Views: 16
Size:  19.8 KB

  5. #5
    Senior Member vulgartrendkill's Avatar
    I would recommend using Lightshot software. its great for screen capture. I think you are on the right track with S&R lines. also try to use 2 trendlines not just one, it might help you visualise the trade a bit better.

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