That trendline breakout forex trading strategy works really well with the trendline trading strategy.
Think of it as being a trendline on the price and you want to take trades that keep it going.
- With the trendline trading strategy, you are trading up or down on the trendline. This means that the price respects the trendline.
- With the trendline breakout forex trading strategy, rules come into play when the trendline is cut or broken based on price.
- This means that the current trend has changed now so you have to be on the lookout to exit your trades based on the trendline trading strategy you have and now Place a trade in the opposite direction on the trendline breakout.
- -Always wait beyond the current candle trendline to confirm the break.
- –Enter into the trade when price Come back and do retrace from the Trend line
- -Set your stop some beyond the trendline and set your limit at least twice from your stop.