Hopefully I can share with you my forex trade plan strategy. My strategy use only simple method, Trendline and Fibonacci only. I’m not using indicator in my trade. Trendline are one of the most important tools in technical analysis in my trade. Trendline is a straight line that connects two or more price points and then extends into the future to act as a line of support or resistance.
Two type of trendline, Upper Trendline, Down Trendline.
Trendline are void when price break any of this trendline. It means you should draw new trendline when the previous trendline break.
The rule is when Down trendline break replace with Upper trendline. Then when Upper trendline break you should replace with Down trendline. Practise this as many as you can.
Why trendline is really important? If trendline break actually its giving signal market will change the trend.
I will explain more detail about trendline in the next post.
