Basic rules for trading according to the Trendline Trading Strategy
RULES
1. Always trade with trend, because Trend is your FRIEND.
2. Find trendline that has at least 2 touches.
3. Clear breakout of structure
Chart 3. shows clear breakout of the zone
Mostly you should rely on Volumes, that has to increase a lot. Moreover body part of the candlestick should close on the other side of a line.
4. High confluence areas
Chart 4. explains that there should be a zone that all type of traders can open their trade and it is suitable for each of them.
1) MA traders
2) S&R traders
3) Pattern traders
4) Price action traders
5) Confluence traders
5. Wait for the Intermediate trend Breakout
After huge impulse price goes to retest the level mostly.
At this stage any formations can be formed here (trendline on smaller frame, flag, wedge and etc.)
6. Candlestick confirmation
1) List of Bull candles
2) List of Bear candles
You should pay attention on a type of candlestick and what kind of movement does it signal.
7. Multi Timeframe observation
_____________________________________________________
If you enjoy my FREE Technical Analysis , support the idea with a big LIKEđź‘Ť and don't forget to SUBSCRIBE my channel, you won't miss anything!
Feel free to leave comments✉️
And always remember: "we don't predict, we react".
RULES
1. Always trade with trend, because Trend is your FRIEND.
2. Find trendline that has at least 2 touches.
3. Clear breakout of structure
Chart 3. shows clear breakout of the zone
Mostly you should rely on Volumes, that has to increase a lot. Moreover body part of the candlestick should close on the other side of a line.
4. High confluence areas
Chart 4. explains that there should be a zone that all type of traders can open their trade and it is suitable for each of them.
1) MA traders
2) S&R traders
3) Pattern traders
4) Price action traders
5) Confluence traders
5. Wait for the Intermediate trend Breakout
After huge impulse price goes to retest the level mostly.
At this stage any formations can be formed here (trendline on smaller frame, flag, wedge and etc.)
6. Candlestick confirmation
1) List of Bull candles
2) List of Bear candles
You should pay attention on a type of candlestick and what kind of movement does it signal.
7. Multi Timeframe observation
_____________________________________________________
If you enjoy my FREE Technical Analysis , support the idea with a big LIKEđź‘Ť and don't forget to SUBSCRIBE my channel, you won't miss anything!
Feel free to leave comments✉️
And always remember: "we don't predict, we react".
đź”·Join my telegram channel for free - t.me/+U31vNryJ-zczMTky
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
đź”·Join my telegram channel for free - t.me/+U31vNryJ-zczMTky
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.