Showing posts from July, 2020

Trendline Strategies using Price Action Analysis

This post intends to continue what was previously posted here . Knowing the importance of candlesticks, the patterns they form, and their crucial importance when the price reaches trendlines or support-resistance levels, I make here a simplified summary of my trendline strategy for day-trading, using Price Action Analysis . For this, I will rely on the charts from Forex.doc, which are among the best explained and drawn that I have found on the internet. Thanks to their authors for permission to publish some of them here. Trendline Strategy: Basics A trendline connects swing highs or swing lows during a trending market, and can act as support or resistance line, but also a break of it can signal a trend change.  In an ideal uptrend , price make higher highs and higher lows. In an ideal downtrend , price make lower highs and lower lows. The strategy is based on the breakouts and pullbacks  made by the underlying's price:  - A breakout is a potential trading opport