78# Trenline Manual System
Trendline continuation and breakout trading
Advanced trendline strategy. Pure price action analysys.
Submit by Dimitri
Trenline Manual System is an advanced trendline based system in relation to support and resistance levels, so a pure price action system based on price action. Quest trading system is a perfect tool to analyze the market and make predictions based on price action. In other words, this is also a technical analysis tool for making market forecasts based on price action. For technical analysis and to make more reliable forecasts it must be used from the time frame or higher. For example, if you want to establish a robust trend, you need to look at the H1-H4 and daily time frame chart if they agree the trend is solid and the forecast can be reliable.
To trade you always need to start from the supports or resistances and enter the trendline breakouts or the continuation of a movement.
Time frame 1 min or higher
Currency pairs: any.
Metatrader 4 Indicators
Trendline 1
Trendline 2
Symbolol changer.
Trading rules Manual Trendline
Choose whether to trade on continuation of a movement or at the breakout of a trend line.
Breakout
Buy
Price bounces Supporte zone.
Entry when the price breaks the trend line.
Continuation
Trend is up, price bounce on support, the price is above the trend line.
The most important thing is to identify a certain trend up confirmed on two time frames higher than the one you want to trade.
Breakout
Sell
Price bounces resistance zone.
Entry when the price breaks the trend line.
Continuation
Trend is down, price bounce on resistance, the price is below the trend line.
The most important thing is to identify a certain trend down confirmed on two time frames higher than the one you want to trade.
Exit position
Place initial stopo loss below/above support/resistance zone. Profit Target at the levels of murrey math or at the previous SR Zone or with ratio 1.1 minimum stop loss.
This system is very discretionary, It is an excellent tool for doing technical analysis based on price action.
I recommend using this tool to trade only as a continuation of the trend, it is simpler to switch even to the breakout if more experience is needed otherwise you take many false signals.
In the pictures Trendline Manual system in action.
Share your opinion.
