Trend line:
Trend Lines are The lines We draw On chart For any Support and resistance levels.
When We connect highs Through a Line It Is Called Resistance .
And when we Connect Lows through a Line It is called Support.
HOW TO DRAW TREND LINES:
In Toolbar Select The trend line And then draw It on Chart :
Like
trend line apply |
When we Connect Highs It looks like This Called Resistance
Resistance |
Trend Line strategy:
Creating a support/resistance tunnel on the price congestion and trading on the break of this tunnel is a milestone of Forex trading discoveries.This trading system/approach needs no indicators and can be applied to any currency and traded in any time frame where coiling in a tight range is spotted.
Entry rules:
Find consolidation on the chart and draw two horizontal trend lines � support and resistance. Once the price breaks trough one of the trend lines and a current price bar closes outside the tunnel � buy/sell in the direction of the breakout. (If price pierces the trend line, but did not close outside the tunnel, cancel the previous trend line and draw another one according to the new conditions).
Note:
also very often happens that once the price makes it through support or resistance it rocks down/up very quickly and so, more aggressive entry can also be adopted � without waiting for the current price bar to close.
Exit rules:
not set, however, it is believed, that the price after breaking the tunnel will travel the distance equal to the width of that tunnel.
Advantages: very simple and extremely effective. It can provide 100% profitable entries if short profits are taken - usually with the close of the first candle right after the entry.
Disadvantages: very accurate and well thought entry point should be picked. Orders placed very close to the tunnel can be triggered by sudden whipsaw early before real breakthrough occur.
Trend Line In Urdu:
Trend line
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Support aur resistance
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Trendlines |
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resistance and breakout |
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support and breakout |
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Ranging market breakout |