TREND LINE BREAKOUT STRATEGY (FOR UPSIDE (BULL))
1) What is Trend Line Breakout Strategy?
1.1) Draw a trend line by connecting swing point (H, LH, LH formation) (2, 3 and more).
1.2) Adjust the trend line as price action unfold
1.3) After 3 touches price will break the trend line, and give one direction movement
(because many stop loss, limit orders will be there above the swing points)
2) What to look below the trend line before breakout
2.1) Double bottom
2.2) Rejection Candle (Shakeout Candle)
2.3) Fake out on other side
2.4) Low, Higher low formation
2.5) Strong support zone
3) How price is approaching to the trend line (3 S)
3.1) Small Distance to the TL
3.2) Strong Reversal
3.3) Strong momentum
4) Different Kind of Entries
4.1) Entry at below the trend line (above the rejection candle, fake out candle)
4.2) Entry at TL breakout candle
4.3) Entry at TL breakout, Retest Higher high formation candle
1.1) Draw a trend line by connecting swing point (H, LH, LH formation) (2, 3 and more).
1.2) Adjust the trend line as price action unfold
1.3) After 3 touches price will break the trend line, and give one direction movement
(because many stop loss, limit orders will be there above the swing points)
2) What to look below the trend line before breakout
2.1) Double bottom
2.2) Rejection Candle (Shakeout Candle)
2.3) Fake out on other side
2.4) Low, Higher low formation
2.5) Strong support zone
3) How price is approaching to the trend line (3 S)
3.1) Small Distance to the TL
3.2) Strong Reversal
3.3) Strong momentum
4) Different Kind of Entries
4.1) Entry at below the trend line (above the rejection candle, fake out candle)
4.2) Entry at TL breakout candle
4.3) Entry at TL breakout, Retest Higher high formation candle