The easy trendline forex trading strategy is one of the most commonly utilized. It comprises of an upward trendlines and downward sloping trendlines. This technique illustrates you how to exchange trend reversals utilizing violated (broken) trendlines for both long and short entries inclusive of stops and price targets.
Comprehending the Basics
The upward sloping (increasing) trendlines intercept at least two support points while downward sloping (decreasing) trendlines intercept at least two resistance points on the chart illustrated below.
1. The recommended time frame for utilizing the technique is one hour chart and beyond.
2. The trading strategy can be utilized on all endorsed trading sessions.
3. Applicable on all currency pairs.
4. Trendlines are the only indicators utilized in his strategy.
1. Search and position a downward sloping trendline.
2. Pause for an end on top of the trendline.
3. Begin a purchase trade.
4. Position protective stop beneath the breakout candlestick.
5. Sketch an upward trendline as the uptrend creates.
6. Price aim: Exit the exchange when the price ends beneath the sloping upward trendline.
The EUR/USD 4 Hr Chart Instance
1. Search and position an upward sloping trendline.
2. Pause for an end beneath the trendline.
3. Begin an auction exchange.
4. Position protective stop on top of the breakout candlestick.
5. Sketch a downward sloping trendline as the downward trend creates.
6. Price aim: Exit the exchange when the price ends on top of the sloping downward trendline.
Exchange Results for the Chart Above
The first auction exchange (1.3293) with protective stop-loss at 1.3412 was ended at 1.2974 for three hundred and nineteen pips.
The second purchase exchange (1.2974) with protective stop-loss at 1.2841 is still open.
Utilize this strategy at your own risk. WindsorForex.com cannot be responsible for any losses associated with utilizing any strategy presented on the site. It’s not recommended to utilize this strategy on the real account without testing it on demo first.