Simple Trendline Bounce - Trading Journals | futures io social day trading
futures io futures trading


Simple Trendline Bounce
Updated: Views / Replies:7,283 / 50
Created: by babypowder Attachments:3

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 3  
 
Thread Tools Search this Thread
 

Simple Trendline Bounce

  #1 (permalink)
Elite Member
Brooklyn, NY
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus/IB/FinFx
Favorite Futures: ES, Forex
 
babypowder's Avatar
 
Posts: 182 since Apr 2010
Thanks: 202 given, 196 received

Simple Trendline Bounce

Hey futures.io (formerly BMT) fam,

Inspired by AR01, Eric J and many others. hopefully I can post frequently. I like to keep track of a simple method (trendline bounce/break). For those full-time workers higher time frames would be best. I choose 240 mins and 4 markets to start but can change. (Varies from time to time)
The further back the trendline the better also the reactions of candles to the trendline i.e hammer/doji/shooting star also best.

Pros: - great risk/reward (stop place close to TL/ target can be previous LL/HH *discretionary)
- plain simple

Cons: - TL itself, you will redraw lines many times. Tip- chose TL that has held before/start TL in previous 2 swings with the immediate trend.

............................................................................................................................................................................
6E- Here is a zoomed out pic with TL drawn. 6E far - babypowder's library
6E- Here is a closer look. If price approaches the TL again (circled), you should be aggressive with your profit taking as a HH was not made, wedge might cont. to form and Japan news. Or if trading 2 cars hold 1 for a wedge break with trend cont. 6e - babypowder's library

................................................................................................................................................................................
CL- zoomed out with TL's drawn. CL - babypowder's library
CL- closer look. Major up TL in tacked, steep short term down trend holding. You can jump on whatever gives 1st, enter on major TL bounce or break of short term TL both to the upside. Cl close - babypowder's library

................................................................................................................................................................................
ES- zoomed out with TLs drawn. TL broken retracement in bigger TF. ES - babypowder's library
ES- close up. Major up TL not looking right in addition a wedge was forming and broke down, drew a short term TL potential bounce play since price blew pass the previous HL swing support. 2011-03-16_1822 - babypowder's library

.....................................................................................................................................................................................
SI-zoomed out with TLs drawn. Major up TL broken may see retracement at previous swing (horizontal line). 2011-03-16_1829 - babypowder's library
SI- close up. Short term down TL, wait for price to break that long hammer 1st before entering short bounce play. 2011-03-16_1838 - babypowder's library

Reply With Quote
The following 7 users say Thank You to babypowder for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
CA
 
Futures Experience: Beginner
Platform: MT4, Ninja Trader
Favorite Futures: EUR/USD
 
Posts: 495 since Oct 2009
Thanks: 400 given, 625 received

Good Luck


Good Luck.

It took me a while to get comfortable posting but it has been worth it.

Andrew

Reply With Quote
The following user says Thank You to AR01 for this post:
 
  #4 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received

Thanks for the pics babypowder-- (you may want to remove vertical/horizontal and data session lines from your charts with such a large time frame as the trendlines aren't as easily visible to the eyes! Thanks and I like the idea of longer TF trading in theory.

Reply With Quote
The following user says Thank You to josh for this post:
 
  #5 (permalink)
Elite Member
Brooklyn, NY
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus/IB/FinFx
Favorite Futures: ES, Forex
 
babypowder's Avatar
 
Posts: 182 since Apr 2010
Thanks: 202 given, 196 received

Follow up

SI - no LL made so TL bounce play is off. 2011-03-17_2238 - babypowder's library
CL- to late on TL bounce play left without us. 2011-03-17_2301 - babypowder's library
6E- to late on TL bounce play. 2011-03-17_2303 - babypowder's library
ES - *The only filled @ TL bounce. Stop placed 1 tick above last pullback (look at the candlesticks tail) 2011-03-17_2305 - babypowder's library
......................................................................................................................................................................
Josh will clear charts on next post.

Reply With Quote
 
  #6 (permalink)
Elite Member
Brooklyn, NY
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus/IB/FinFx
Favorite Futures: ES, Forex
 
babypowder's Avatar
 
Posts: 182 since Apr 2010
Thanks: 202 given, 196 received

algofutures.com

Interesting algofutures.com has sell signals @ this area will see how it plays out. (Currently ES trade)

Reply With Quote
 
  #7 (permalink)
Elite Member
Brooklyn, NY
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus/IB/FinFx
Favorite Futures: ES, Forex
 
babypowder's Avatar
 
Posts: 182 since Apr 2010
Thanks: 202 given, 196 received

ES

ES results on short bounce play -562.50 (2 contracts).

Reply With Quote
 
  #8 (permalink)
Big game hunter
NY
 
Futures Experience: Advanced
Platform: Esignal, MBT navigator
Favorite Futures: Currencies
 
Posts: 2,526 since Jun 2009
Thanks: 1,397 given, 2,570 received

Nice thread BP ! We must be channelling each other subconciously since Ive been paying closer attention to tls lately . I found the tls useful as a SR level with the trend , like a flag . Futures you got the benefit of volume and volume drying up as price reaches the tl is a really stong signal .

Reply With Quote
The following 2 users say Thank You to Eric j for this post:
 
  #9 (permalink)
Elite Member
Brooklyn, NY
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus/IB/FinFx
Favorite Futures: ES, Forex
 
babypowder's Avatar
 
Posts: 182 since Apr 2010
Thanks: 202 given, 196 received

What to look for.

CL- Classic head and shoulders forming in current channel, I will play this if everything lines up until the major TL (bottom channel). Then if tagged can be a potential bull bounce play going back up (top of channel). 2011-03-20_1603 - babypowder's library
Additional info on H&S @ Head and Shoulders Price Pattern
...................................................................................................................................................................................
SI- Bullish flag is forming, and Brach Zone .62/,786 retracement (rectangle). I would only play long bounce play off of bottom flag TL, if it comes back down, I might have missed it. 2011-03-20_1621 - babypowder's library
**A definite read **Additional info on Brach Zone @ Brach Zone Setup- .62/,786 retracement
...................................................................................................................................................................................
ES- Short term TL break, I am looking for a retest of this TL which also lines up with the Brach Zone .62/786 retracement area for a long bounce play. 2011-03-20_1628 - babypowder's library
..................................................................................................................................................................................
6E- Zoomed out we see a bottleneck/ flag forming. 2011-03-20_1633 - babypowder's library
6E- Zoomed in I would play a break not bounce of either lines. Resistance @ 11/7 last high or TL as support we will wait and see. 2011-03-20_1635 - babypowder's library The way the candles are progressively forming (short steady candles not long steep slope candle) tells me that resistance @ 4250 area will likely hold. The idea behind this is if a car is driving 100m/hr speeds to a brick wall it will break through vs. a 20m/hr speed car in which the wall will likely hold. Again this is not alway the case. We will see.

Reply With Quote
The following user says Thank You to babypowder for this post:
 
  #10 (permalink)
Elite Member
Brooklyn, NY
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus/IB/FinFx
Favorite Futures: ES, Forex
 
babypowder's Avatar
 
Posts: 182 since Apr 2010
Thanks: 202 given, 196 received


Thanks EJ,
After trial and errors i found that TL will give you better entries and most importantly were I want my stops.

Reply With Quote
The following 3 users say Thank You to babypowder for this post:

Reply



futures io > > > Simple Trendline Bounce

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Decision Bar VS TrendLine Trader WeirdTrader Trading Reviews and Vendors 2 March 23rd, 2011 01:14 AM
looking for bounce JTrain Bonds and Interest Rates Trading 14 March 2nd, 2011 08:44 AM
Pyratool or Fixed Angle Trendline for NinjaTrader Bengaltiger Traders Hideout 5 December 23rd, 2010 09:39 AM
Trendline Angle Finder ceramictilepro NinjaTrader 5 October 9th, 2010 09:03 PM
Week Ahead: Markets Look to Economy After July's Bounce Quick Summary News and Current Events 0 July 31st, 2010 01:50 AM


All times are GMT -4. The time now is 10:31 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.14 seconds with 20 queries on phoenix via your IP 54.227.51.103