Thread: Mouteki System
View Single Post
Old 08-29-2007, 01:11 AM   #6 (permalink)
Dan
Marvel Hero, Licensed to Flush
 
Dan's Avatar
 
Join Date: Feb 2007
Posts: 313
My Mood:



Thanks: 26
Thanked 57 Times in 38 Posts
Dan is on a distinguished road
Default Re: Mouteki System

Hello Oppie,

DeMark trend lines (aka Mouteki for ForexFactory members ) are very popular even for the big dogs, so it makes sense to use them on a regular basis. They work!

Your EUR/USD, GBP/USD DeMark trend lines are not drawn correctly.
Simplest way for me to explain. (DeMark) trend lines are useful to spot the trend and to correctly identify trend or side-ways trading breakouts.
Nevertheless your entries were good, and the two trades ended up in profit. That's the result of another pattern - trend continuation or trend acceleration - when the price brakes through the lower trend line of it's downward trending channel.

Happy trading...don't forget to add price action to your trading knowledge.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.



To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Dan is offline   Reply With Quote