Hello Traders,
Here we have a trading setup using trendlines.
The Major trendline support serves as our bias to go long on the higher timeframes.
Price then pulled back into the trendline area and broke the minor trendline resistance. That is a bullish signal on the lower timeframes and our entry reason.
Entry at retest of minor trendline resistance.
Stop Loss below previous major low.
Take Profit at the 100% extension of the previous extension.
Here we have a trading setup using trendlines.
The Major trendline support serves as our bias to go long on the higher timeframes.
Price then pulled back into the trendline area and broke the minor trendline resistance. That is a bullish signal on the lower timeframes and our entry reason.
Entry at retest of minor trendline resistance.
Stop Loss below previous major low.
Take Profit at the 100% extension of the previous extension.