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Thread: DRAWING AND TRADING OF TRENDLINE BY YOURSELF

  1. #1
    Trader Toyen's Avatar
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    DRAWING AND TRADING OF TRENDLINE BY YOURSELF

    Introduction:
    Trendline strategy is a powerful strategy that works with support and resistance levels, it does not need too much workload to be traded, it needs the drawing and the correct analysis from traders to trade it. I see that this strategy is still very not famous on a forum like this, i am using this avenue to teach traders most especially the newbies how to draw and trade trendline by themselves. I have being using trendline since my 3 years forex trading experience, it is the strategy i can not afford to miss for trading. It is not so hard to do this, we also have to be careful not to be doing the drawing in the bad way. I will try and teach it based on my understanding of the trendline.

    Time Frame:
    You will decide your time frame by yourself. The traders that will want to scalp by using trendline will have to use small time frames, those that will want to trade long term will use larger time frames for it. I am using 4H for my trendline analysis, it is the one that is convenient for me.

    Trendline Drawing:
    Link two most important highs and lows together on the chart. You will leave it when you do not see a peak or low that is good enough to link together. This later condition is not common in the market, but it exist anyway, we have to be prepared for it.

    Picture samples:
    You can use the three different examples as shown in chart below to know how to draw it better as pictures speaks a thousand words.







    Stop loss and Take profits:
    You can decide your stop loss and profit target by yourself, your practice of this strategy will help you to achieve that. As for me, i use low stop loss for trendline, it is safer in that manner, i use 25 pips in most cases. And for profit target, i use 80 pips in most cases.

    Strategy explained:
    After drawing the trendline, it will have two lines, the upper line is called trendline resistance, and the lower line is called trendline support. When the market breaks above the trendline resistance, you will buy. When they market breaks the trendline support, you will sell.

    You can try this simple strategy every day of your trading and your trading lifestyle will remain positively changed forever.

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  2. #241
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    It is easier to trade anything you learned by yourself because the experience would be automatic, I don't use the trend lines but I know that it is a very resourceful indicator, it is more like the support of resistance line that gives where price will experience some reactions that could make it continue or think about reversal, we should always draw them ourselves for easier understanding.

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  3. #242
    Trader ola4real's Avatar
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    Quote Originally Posted by simisola View Post
    It is easier to trade anything you learned by yourself because the experience would be automatic, I don't use the trend lines but I know that it is a very resourceful indicator, it is more like the support of resistance line that gives where price will experience some reactions that could make it continue or think about reversal, we should always draw them ourselves for easier understanding.
    Yes, the learning is a very important part of the forex field, the forex traders who are learning will get to make their success in their trading activities. The bad side of forex trading is that many forex traders will engage in it but will not learn, how will those traders not lose their forex investment? The trading of the trendline is good too, and if it is the automatic type you are using, this will help you better.

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  4. #243
    Trader Killer_Queen's Avatar
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    Quote Originally Posted by ola4real View Post
    Yes, the learning is a very important part of the forex field, the forex traders who are learning will get to make their success in their trading activities. The bad side of forex trading is that many forex traders will engage in it but will not learn, how will those traders not lose their forex investment? The trading of the trendline is good too, and if it is the automatic type you are using, this will help you better.
    we can do anything we want with our time and our understanding. there are many information from internet and from this forum alone we can use to learn and study about everything that is working and promising to do to give us profits someday. drawing trend line can be done manually by ourself but before we can do that, it is better to watch a tutorial video or attend a webinar which discusses about this topic to help understand the methods better.

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  5. #244
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    its very easy to draw and trade with a trend line .first you may choose any time frame and the next is you can select trend line tool and draw the top and bottoms then you will see the range of the market in that time frame.so it will help you to know if between which numbers market is moving.so when ever it will break to any side it will give you a signal to buy or sell.

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  6. #245
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    Trendline as a trading system is one of the simple way to trade i would recommend this method for young traders, Its simple because there are few rules to follow and its straight and clear. When a Trendline from a down trend is broken by a candle closing above this is signal that an up trend is about to begin same when a trendline from an up trend is broken it gives the idea that the trend is about to start moving downward.

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  7. #246
    Trader pajero's Avatar
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    Trend Line is a straight line that connects the valley points (bottom) that rise in sequence in an Uptrend, or peak points (TOP) that fall in sequence in a Downtrend.

    The trendline line is one of the most frequently used technical sciences. This is the simplest way that can be used when the market is trending. Trendline is a connecting line between support and resistance.

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  8. #247
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    The trend line tool is helpful and understanding how this trend line can act as a supportive indicator to determine the trend is good. This lines are drawn with the candle finding some resistance on breaking that line and this will give traders the opportunity to know when to make the best market entry in forex. Good we know how to draw this line and be more ready to follow the market trend in the bullish or bearish direction.

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  9. #248
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    Trend line can be drawn using any time frame ranging from the lower to the higher time frames. The most important thing is to be able to draw the trend line accurately.The beauty of the trend line is that it has the power to show to traders the real direction of the market and since i have discovered this trick, i have stopped using the manual trend line to draw my trend line. If you ask me, i will say that the trend line is one of the most important and the most powerful instrument in the forex market .

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  10. #249
    Trader Toyen's Avatar
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    The best to do is to draw the trendline all by ourselves. That is what i am doing and many times i get to do it better than the way the trendline indicator which is the automatic way of displaying the indicator will do its own. All i know is that practice will make perfection, when we do not relax in drawing of it, we will actually know how to draw it at best.

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  11. #250
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    We can draw the line manually or automatically with using the indicators. And the important thing here that high time frame become the correct way to draw the trendline and the goals here that we need to get the true trend.
    Ww can use support resistance to complete it with draw two lines bottom to bottom or top to top then they become the channel and at the same time we will know the range of support resistance from low to high price

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