Today you will learn a new strategy for trading trend line breaks. I will show you the proper way to draw trend lines, when to pull the trigger and a filter for avoiding false breakouts. Watch the video and read below:
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Note: Here is the link to the Simple Trend Line Break Strategy Q&A.
How To Correctly Draw A Trend Line
Let’s cover the basics of drawing a trend line so you will have a valid setup to start with. Here are the conditions:
Up Trend Line – Locate 2 swing Lows with at least 10 higher lows to the right/left.
Down Trend Line – Locate 2 swing Highs with at least 10 lower highs to the right/left.