DLavrov
Long

Trend Line and Entry Level

FX:EURUSD   Euro Fx/U.S. Dollar
167 3 13
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.

Related Ideas

kizly
3 months ago
What is your TP?
Reply
DLavrov kizly
3 months ago
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.
Reply
kizly DLavrov
3 months ago
Thks, I'm not trading currencies, oil, gold stocks but USD / EUR and USD index influence them lot. RGDS
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out