Trend Lines One ( Tl )
A Trend Line is formed yesteryear a diagonal line, connecting at to the lowest degree ii pin points ( HH or LL ).
I know in that place are many traders that depict these TL betwixt closing/opening price, but I prefer to depict them yesteryear connecting HH/LL. ( amongst only about exceptions when starting amongst ii HH/LL as well as the side yesteryear side taps are simulated BO's of the TL ).
So in that place are many ways of considering an entry using TL.
1. TL's tertiary tap strategy
Considering an entry yesteryear waiting only about other deport on of this TL ( besides known every bit "3rd tap").
If the candle touched the TL as well as didn't shut below, inwards our instance ( neglect to interruption ), nosotros tin opened upwards a long position on the side yesteryear side candle opened upwards area. SL would endure @ previous HL as well as TP @ previous HH, or Trailing Stop.
For instruct out you lot may besides role contrary TL broken similar inwards the side yesteryear side example.
2. TL's BO Strategy.
Another mutual role of trading the TL is to merchandise the BO.
As you lot tin run into inwards our example, nosotros bring iii opportunities to motility into the trade:
Entry i - @ retest ( pullback ) of the broken TL.
Entry ii - @ novel formed "HL" of the PA.
Entry iii - @ the existent "HL" of the PA ( since the PA failed to interruption the HH as well as formed a LH inwards run yesteryear of the nautical chart )
For instruct out the merchandise nosotros may visit Trailing Stop or the contrary TL BO.
PA besides failed to BO the LL of the nautical chart ( forming a double bottom ) that offering a dandy instruct out opportunity. But commonly nosotros tin role the BO of bearish TL.
3. TL's BO Strategy, next the principal trend
Drawing a TL on a higher TF similar H1, as well as therefore lowering the TF to M30, offering us many entry opportunities inwards the same administration of the principal trend.
SL for all those entries mightiness endure the BO candle lowest or the final swing HL ( since nosotros bring a bullish tendency inwards our instance ).
Best Regards,
^^_Lord_Ice_^^
I know in that place are many traders that depict these TL betwixt closing/opening price, but I prefer to depict them yesteryear connecting HH/LL. ( amongst only about exceptions when starting amongst ii HH/LL as well as the side yesteryear side taps are simulated BO's of the TL ).
So in that place are many ways of considering an entry using TL.
1. TL's tertiary tap strategy
Considering an entry yesteryear waiting only about other deport on of this TL ( besides known every bit "3rd tap").
If the candle touched the TL as well as didn't shut below, inwards our instance ( neglect to interruption ), nosotros tin opened upwards a long position on the side yesteryear side candle opened upwards area. SL would endure @ previous HL as well as TP @ previous HH, or Trailing Stop.
For instruct out you lot may besides role contrary TL broken similar inwards the side yesteryear side example.
2. TL's BO Strategy.
Another mutual role of trading the TL is to merchandise the BO.
As you lot tin run into inwards our example, nosotros bring iii opportunities to motility into the trade:
Entry i - @ retest ( pullback ) of the broken TL.
Entry ii - @ novel formed "HL" of the PA.
Entry iii - @ the existent "HL" of the PA ( since the PA failed to interruption the HH as well as formed a LH inwards run yesteryear of the nautical chart )
For instruct out the merchandise nosotros may visit Trailing Stop or the contrary TL BO.
PA besides failed to BO the LL of the nautical chart ( forming a double bottom ) that offering a dandy instruct out opportunity. But commonly nosotros tin role the BO of bearish TL.
3. TL's BO Strategy, next the principal trend
Drawing a TL on a higher TF similar H1, as well as therefore lowering the TF to M30, offering us many entry opportunities inwards the same administration of the principal trend.
SL for all those entries mightiness endure the BO candle lowest or the final swing HL ( since nosotros bring a bullish tendency inwards our instance ).
Best Regards,
^^_Lord_Ice_^^
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