Trend Lines Technical Analysis Best Price Action Strategy bc7ceee8-31d6-4ab2-ad00-1a1f55258d53

This trend lines technical analysis will give you daily profits

If you are a forex trader or a forex student then you know about price action and also about trend lines technical analysis

There are many traders who are just mastering themself in trendlines and they are just taking a trade with the help of trendlines

So now we are exploring this topic first of all we know about trendline

What is Trendline?

A trendline is an object which is used to identify the market Trend
when you open any pair and see the structure of the market

if the market goes up side and goes with making higher high and higher low then we Consider This is an Uptrend and in the other case if the market goes down the side and goes with lower low lower high then we consider this is a downtrend

Types of trendlines in technical analysis

There are two types of trendlines up trend and downtrend if the market move sideways then that will be the consolidation phase

trendline analyse

How to Identify Trend Lines Technical Analysis

When the candles go upside down and make corrections and again continue upside then we can say this is an uptrend

When the candles go downside and make corrections and then again continue downside then we can say this is a downtrend

trend lines technical analysis

How can we take entry with the trend?

Once you identify the market structure then you select draw trendline object on the top bar and draw on current higher lows once you draw the trendline then you should wait for the next correction

When the market again comes to the trendline then you should wait and watch the candlestick rejection and reversal pattern once you see the hammer, inverted hammer, pin bar, Bullish Engulfing, or Maruboozu pattern then your entry signal take a buy trade set you stop loss below the reversal candle

For every Trade, you should use risk to reward ratio if you set your stop loss at 60 pips then you should take your take profit to double with 120 pips

Trend lines technical analysis give you good trading opportunities

Now the conclusion is if you find the right trend and you grab that opportunity then you just set your risk-to-reward ratio and grow your account shortly

If you want to read more informative posts and forex strategies then bookmark the Faiqforex website

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