Best Counter Trendline Breakout Trading Strategy|Complete Guide to Trend Line Trading FOREX

Best Counter Trendline Breakout Trading Strategy|Complete Guide to Trend Line Trading FOREX
Price Action Trading StrategiesTrendline Trading Strategy-Sell At Top Buy At Market Bottom
The Trendline Trading Strategy is a forex price action trading system that is designed to trade the price bounce off the trendlines.
You will notice on your charts that price does two things when it comes to a trendline:
it bounces off it which means it obeys the trendline or
it breaks it…and when it breaks it, you can use the trendline break forex trading strategy to trade it.
This strategy is about how trade when prices bounce off the trendline.
In order for you to use the trendline trading system, you need to know how to draw a valid or proper trendline.
HOW TO DRAW 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.
Trendline Trading Forex Trading Strategy
When price come to the trendine and touch it on the 3rd, 4th, 5th peak or lows etc…that’s when you buy or sell.
For more information on how to draw a trendline, check this out:how to draw a trendlines the right way in 2 simple steps.
Timeframes: Any
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.
BUYING RULES
Draw an upward trendline connecting a minimum of 2 higher lows (or higher swing lows)
Wait for price to come come and touch the trendline at some stage down the future
Place a buy stop order 2-5 pips above the high of the candlestick that touches the trendline
Place your stop loss 2-5 pips below the low of that candlestick
Place your profit targets on previous significant lower swing highs (or peaks) that you see on the chart or aim for risk:reward of 1:3
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