DLavrov
Long

Trend Line and Entry Level

FX:EURUSD   Euro / U.S. Dollar
177 3 14
Here is a good example of how to use technical tools and indicators together. Based on daily chart we could draw a such trend line . It was a trading idea to search entry levels on hourly charts if price could break the line. And we could open a long trade on 1H chart. The trend line was broken, and price bounced from new support line. At the same time we could get a signal from trading strategy based on indicators. RSI and MACD confirmed price reversal from MA20 and the trend line . Entry level was above the high of the signal bullish candle. Stop was placed below MA20 and the trend line . This trade made good profit.
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What is your TP?
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There are several variants for exit. The most simple way is - profit must be in 2 times more then stop-loss. This is for trend markets.
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kizly DLavrov
Thks, I'm not trading currencies, oil, gold stocks but USD / EUR and USD index influence them lot. RGDS
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