I think trendline trading can be useful on higher time frame trend lines. Otherwise, S/R levels are far superior, simply because traders tend to have a short term memory, not a long term one.
Also using dynamic support and resistance can be powerful when done with trend.
There are various patterns around both trendline, along with dynamic s/r levels when one learns to read the price action, so these can be powerful when used correctly.
Far better than using plan pin bars or inside bars which are the result - not the cause of order flow.
Though it should be noted the latter patterns can be useful as a secondary price action tool, not a primary one.
Hope this helps, but you’d need the proper accompanying price action to support trend line trading.
I guess you use the 20 EMA as a sort of dynamic S/R level, I think i remember you saying something like that on one of your FXStreet videos… That would mean the 20 EMA would be a good place to enter trades.
fib levels are generally disregarded if they do not line up with prior s/r levels and price action, so this should tell you it is subservient to PA and S/R levels
thus, I prefer to just use PA S/R Levels as I find them more efficient
I find that fibo’s are not necessary when you learn to read S/R levels well. And fibos are also subjective, but where price action reacted in the past is much more clear.
If you feel fibo’s work for you - great, keep using them.
I personally do not feel the need to use them to trade successfully, and it has not affected my trading.
But as always, the key is to finding what tools feel most natural to you, and to just be comfortable with your trading.
Everyday eyeing on your thread. Very good explanation on using Fibo’s for trading. Personally I also don’t use Fibo’s for trading. PA trading more powerful than anything. Would like to see more valuable posts from you. Good luck on your thread.
Hey Chris, you talk about orderflow and how the PA pattern is the key to entering the trade, but not the actual reason why… Could you give me some good articles/videos you and others have made to learn how I too can read order flow?
I really want to understand this as much as I can.
im not sure Babypips will allow me to post direct links here to your question, so PM me and ill send them to you.
but perhaps its time i do another content article on reading order flow via the price action
was this particularly related to breakouts as its quite a big subject if its just ‘general’ reading order flow from price action?
Was thinking in general how to read the order flow through PA, and like I say, I want to know as much as I can about it so breakouts, ranges and general reading of order flow please… If its not too much to ask ofcourse!
And get well soon Chris, not feeling to well myself atm…
And regarding the order flow material, I cant figure out for the life of me how to send a PM on babypips, so i’ll email you then you can send me the order flow material, you should know me already so no surprises haha.
