trend line bounce - NickB's Forex Blog

15min Trendline Bounce Trading – Mini Webinar

Posted by Nick 24

Hey Guys,

Better late than never! I have found some time to encode, upload and release this mini webinar I held on the 15th of March in the Forex4Noobs chatroom. The webinar was not really planned out and I just rambled on for about 40 min. I really should do a full webinar on this subject at some point and I probably will. However, for now here is the mini webinar.

Trend Line Reversal Mini Webinar

Backstory:

Up until a year or so ago I hated trendlines. It was mostly because I didn’t understand them. I had no clue how to place them and when I tried they never worked. For this reason I thought they were a useless trading tool and never gave them any credit. However, in early 2009 my girlfriend explained trend lines to me in detail. Ever since then I have been messing around with them on and off. Mostly on the 4 hour chart as they do aid support and resistance line trading. I have also been using them with great success on the lower time frames such as 15min and 30min time frames. In this mini webinar I shed a little light on how I used trendlines on the 15 min charts.

Webinar:

This recording started about 30 seconds after the webinar begun. Don’t worry though, you didn’t miss much! You can watch it here in the browser or download it with the link below. Downloaded version is better quality.

This webinar was recorded from the chatroom. At certain points I interact with the people in the chatroom and answer their questions. Sorry but you wont be able to see the questions I am responding to as the chatroom text cannot be displayed. Next time I will record the webinar in a different manner. At around about 28 min I am talking to somebody in the chatroom and I am heard to be saying “that’s a good tip” I was responding to the text below:

[PipperySlipples] I try and watch for the angle of the preceeding movement and the length of the movement to determine whether the likelihood of a break is high or not … if it’s a large move (like the one in the middle) I will enter at or near the trendline to catch the reversal rather than wait for the candle to close

[PipperySlipples] yes

[PipperySlipples] exhausted selling

Go to the Forex4Noobs Forex Webinars page to watch!

If you like this post leave a comment please.

New Price Action Analysis Course Breakdown

Posted by Nick 33

Hey Guys,

I am going to give stragglers a chance to enter so I will announce the 10 winners for a free copy at about 6pm-7pm US EST tonight.

Since I will be selling this I want to make sure everybody is happy with it. So I am releasing a fully detailed list in which I break down what will be in this course. The idea is to let me know if you’re happy with this or if you want more added. So here goes.

This new course will be HUGE and it will introduce several elements of my trading that are new. I have finally decided that I should introduce trend lines. Specifically trend line bounces and how they can be used in conjunction with candle patterns to makes heaps of pips. Also chart patterns and how to use them to make pips. This course will be big. I am going to try my best to pack it all into 8 hours of video. Let’s take a look at the structure of the course and you can tell me if you’re happy with it.

Basics

To be honest, this section will be very short and will go over what most of you have already learned in the free e-Books. However, it has to be included as I want this course to go from the very basics to the advanced stuff. Even if you know the basics you should go over this section. I have already recorded this section and it is roughly 1 hour long. Below are the headings for this section. I will not bother explaining them as they’re pretty self explanatory.

1. What Candlestick Analysis Is
2. Uses of Candlestick Analysis
3. Why it Works
4. How to View The Markets (Bulls vs Bears)
5. Transitions of Power

Intermediate

1. Spotting Indecision Candles and Grouping Patterns
This is where it gets interesting. Here I describe exactly what an indecision candle is and the best types of indecision candles and grouping patterns. You may have read this stuff before but in the course I plan to take this to another level.

2. Advanced Candle Reading
How do you know when a reversal is a reversal? This is the first step to having a full understanding of candle patterns.

3. Higher highs/lower lows.
This term is thrown around a lot and it seems very basic. Well it isn’t! Here I explain in a lot of detail how to benefit from spotting higher highs or lower lows. A lot of the times understanding this turns a 50 pip trade into a 100 pip trade for me. Or turns a trade in which I could have lost 70 pips into a break even trade.

4. Extending Good Trades and Closing Bad Trades Early.
Here I talk about how to use what you have learned so far to improve your overall trading.

One of the most commonly spouted lines in Forex is “let your good trades run and close your bad trades early…….” Everybody says it but nobody explains how. Well I do.

I explain in detail how to recognize a good trade and STAY IN THE MARKET. And how to recognize a bad trade and run for the hills. This is the first major step towards becoming a very profitable trader.

Advanced

1. Trading Reversal Trades
The basic reversal trade forms randomly on a chart. If traded right it can be a consistent winner. I explain how to spot reversals and more importantly CONFIRM reversals. This is explained in extreme detail with plenty of examples on real charts.

2. Trading Ugly Reversals
Not all reversals are beautiful. I explain how to spot reversals most traders miss and how to successfully trade them.

Super Advanced (This Will Blow your Mind)

1. Placing GOOD trend lines and S+R Lines
Ok, placing trend lines and S+R lines is not exactly mind blowing. However, it leads to the mind blowing stuff.

2. Trading Trend Line Bounces
This is where it gets really interesting. Here I combine everything you learned about candles and I explain how to use them to trade trend line bounces. This will be mind blowing.

3. Trading S+R Bounces
This is even more astounding. How to trade S+R line bounces is explained. This is some very advanced stuff I have never discussed before. It pretty much involves using everything together.

Advanced price action analysis + Candle patterns + Support and Resistance = PIPS!

4. Spotting Great Chart Patterns
Again it is not mind blowing but it leads directly to the mind blowing stuff.

5. Putting It All Together
This is what it is all about. Using all those forms of analysis together. Here you will learn how to trade bounces, continuations and breaks. This is what price action analysis is all about and this is the most important section.

Live Trade Videos

I plan to shoot several hours of live trade videos over the coming 2 months. I want to have at least 20 live trades for you to see. In the end, I want to have roughly 8 hours or so of live trade videos. However, I cannot do this in the 2 month deadline for the course release. I plan to have at least 2-4 hours of live trade videos by then. I will add more as time progresses.

Bonus

Master Candles
As a bit of an extra I will discuss master candles in detail.