Easy 5 step price action trading strategy for Day trading and Swing Trading on forex market.
Now a days price action trading is very subjective in nature.This means that if you show the same price chart to two different individuals both of them may differ in their analysis.
One might predict that the price will go up while the other might feel that the price will go down.With this strategy I want to show you how you can create a rule based system around a subjective matter like price action.So without any further education lets get into the strategy.
The strategy is a simple trendline breakout strategy with added rules and steps so that you can avoid false breakouts that commonly occur while trading.
Trendline is nothing but simple lines that are created by connecting the highs and the lows of the price.
In an uptrend we will create a trend line by connecting the lows of the market.
When the price breaks below this trendline we can say that the price has started downtrend.
Similarly in a downtrend we will create a trendline price breaks above this trendline we can say that the price has started an uptrend.
Recent Posts
- GBPUSD Day | Reacting off resistance level?
- XAUUSD Day | Falling to support level?
- MakerDAO Secures $6 Billion for Treasury Bill Investments, Propelling MKR to Dominate 2023 as Best-Performing Cryptocurrency
- Do you have plans for trading in October?
- A Comprehensive Overview of Inflation and Trading Prospects
