Trading Strategy is a price action trading system based on the behavior of price to come back to the trendline that has been broken (intersected hit it and bounce off it and take off in the direction it was going. As usual, all forex trading strategies have their bad bitcoin 2010 chart points and for trendline retest trading strategy, they are: sometimes price will not bounce back off from the trendline as anticipated, which means it will cross it and continue to go up or down there will. Read Horizontal Price Channel Forex Trading Strategy.
Place your stop loss 2-5 pips under the low of the candlestick that activates your pending order or you can also use the nearest swing low. Draw a rising (upward) trendline when price breaks that trendline, you wait for the retest. If that buy stop pending order is not activated, then continue to move that pending order down on each high that is lower than the previous candlesticks high until the buy stop pending order is activated. When it comes back to it, wait for a candlestick to actually touch that trendline it broke previously. Trade entries are based on price levels/zones where theres less chance of your stop loss getting hit.
Honest forex signals review
Us forex brokers comparison