Resources for Forex Trading
FOREX TRENDS LINES
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Trend-line break rules and confluences to look for:
Trend-lines can indeed break! There are specific rues to adhere to once a Weekly/Daily trend-line is broken, these rules assist with structure and anticipating future price points in order to ride a reversal to maximum efficiency or simply use it as a bias.
Inner, Outer & Long term Trend-line application:
Multiple trend-lines can be drawn onto a chart. It is suggested up to 3 in total! When performing this, ensure you are not going too far back, zooming. out too much as its important to stay relevant to short/medium term prices. The example below displays the inner, outer and long-term trend-lines with their respective connection points. These indicate the USD/CAD is firmly bullish with a most recent 3rd bounce evident, the price is expected to reach new highs.
