You entered perfectly. Now you give all the money back because you don't know where to exit.
Most traders draw dead lines. Here is how to draw lines that actually repel price. trendline trading strategy secrets revealed 21 full
On a 1-minute chart, linear lines work. On a weekly chart over 6 months, you must use logarithmic scaling. Secret #3: If your long-term trendline keeps breaking and re-forming, you are using the wrong scale. Switch to Log scale to see the true support. You entered perfectly
Institutions hunt stops at round numbers ($1.2000, $50.00). Secret #20: Draw your trendline 3-5 pips above the round number. When price hits the round number, stops trigger, wicks shoot through, but the trendline holds. Enter long on the wick rejection. This is the highest probability setup (85% win rate). Here is how to draw lines that actually repel price
Where do you put the stop? Most put it 5 pips below the trendline. Wrong. Secret #10: Place your stop behind the nearest swing high/low inside the trend, not the trendline itself. If that swing is 50 pips away, you wait for a better setup. The trendline is a destination, not a guarantee.
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