Hey guys, simple trading method here works efficiently and is easy to use. There is no need to over explain it, perhaps just few rules to follow. This method focuses on using trendlines and following channels, channels themselves do not need to be typical equal highs and lows channels where you draw trendline on both sides of it, but simply focusing only on one side of channel.
For bearish channel (with droping price) one focus only on upper trendline that follows highs.
For bullish channel (with rising price) one focus only on lower trendline that follows lows.
Examples of bull and bear channels:
Its important that highs and lows respect the trendline, if they dont simply avoid trading it. Also if highs and lows change in hight (new freshyl formed ones) then adjust trendline so that it respects the last highs or lows the most, becouse those are the most important.
For trendline drawing, make sure that trendline is drawn in a way that it follows as much highs and lows as possible.
Its trading bumps of trendlines or trading breakout, SL is usually set bellow last placed high or low, but its up to individual where to place it.
Here are examples of channels:
For bearish channel (with droping price) one focus only on upper trendline that follows highs.
For bullish channel (with rising price) one focus only on lower trendline that follows lows.
Examples of bull and bear channels:
Its important that highs and lows respect the trendline, if they dont simply avoid trading it. Also if highs and lows change in hight (new freshyl formed ones) then adjust trendline so that it respects the last highs or lows the most, becouse those are the most important.
For trendline drawing, make sure that trendline is drawn in a way that it follows as much highs and lows as possible.
Its trading bumps of trendlines or trading breakout, SL is usually set bellow last placed high or low, but its up to individual where to place it.
Here are examples of channels: