trendline trading strategy, please dont forget to share it, tweet it, etc with your friends by clicking those buttons below. Consider closing half of your position if price moves by twice the amount risked and let the other to run or to hit your take profit target. The risk to reward ratio of the trendline trading strategy is really great. Draw a downward trendline connecting a minimum of 2 lower highs (or lower swing highs). This strategy is about how trade when prices bounce off the trendline. When price come to the trendine and touch it on the 3rd, 4th, 5th peak or lows etcthats when you buy or sell.
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Place a buy stop order 2-5 pips above the high of the candlestick that touches the trendline. Here are some trade management techniques which you can use: lock profits by trail stopping it by moving your stop loss and placing it behind swing high or lows so there is less chance of you getting stopped out prematurely if you plan to ride. If the setup is good, you can sell at the very top and buy at the very bottom of the price swing whilst keeping a very tight stop loss which really also has a very less chance of getting stopped out prematurely. The simple trendline is possibly the most useful tool in the study of market trends. Its based on price action. Below there is a list of the trenline indicators for Metatrader. Place your stop loss 2-5 pips above the high of that candlestick. All forex trading strategies have weaknesses and the trendline trading strategy is no exception: price can break and not obey the trendline. Place a sell stop order 2-5 pips below the low of the candlestick that touches the trendline. You need a minimum of two lower swing high peaks to draw a downward trendline (to show market in a downtrend) and two higher swing lows to draw an upward trendine (to show market in an uptrend) like the chart show below. Timeframes: Any, xmaster formula mt4 indicator currency Pairs: Any, indicators: No forex indicators are required but you should know your reversal candlesticks patterns, as they are very helpful in giving you signals to buy or sell when price touches the trendlines.