This is a good simple strategy. I have traded it myself on a demo account with great success. It involved looking at the daily charts and drawing trend lines. A trend line must connect to at least two points. It is important that the trend line doesn’t have any breaks between the two points it connects to. Here is an example:
As trend lines are often used as support and resistance points, the market often bounces and sometimes even reverses at them. The way we can use this to our advantage is by placing buy or sell orders at the trend lines. We can place a stop just below the trend line, but ensure you leave enough room for volatility. If the trend line holds you can either set a TP at a support or resistance point or use a trailing stop. I like trailing stops personally. If the trend line breaks you take a small loss, but if it holds as they so often do you have a good chance of a winning trade that greatly exceeds the risk you took. You can see how this happened on the 3rd point of the trendline in the chart above. If you had placed a buy order at this point, it would have been a very nice, low risk trade.
Source: forexpm.com
forex trading disclaimer
A very interesting trading strategy of forex has been discussed here. Using a right trading strategy according to the market needs is must for earning good returns.Services like forex tips, mcx tips can also be referred for better management of risk and returns,
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