ABOUT THE TRENDLINE

The trendline is a straight line that connects two or more price points or peaks and bottoms. This line facilitates the definition of trend direction, and in the future this line will behave as support or resistance. The more touches a trendline has, the more accurate it is. 
The most important chart formations: break, break with backtest, and when the price is turn around from the trendline. 
Trendline break
Break
Trendline Break With Backtest
Break with backtest
Turn Around From Trendline
Turn around
The trendline analysis is a traditional tool for a professional traders, they are keep on using this, in these days too. It's better than a "noname" forex indicator, because lot of people use it. TrueTL analyses the whole chart, thats why it:

  • helps to understand the chart for the beginners
  • helps to make decisions more quickly (it’s important on lower timeframe)
  • decreases the mistake's possibility (such as: by chance we don't see a higher timeframe trendline, or a trend started earlier than it appears for us)
  • saves time and more comfortable

EXAMPLE TRENDLINE STRATEGY

TrueTL is not a complete trading system. It’s "only" a helpful tool for trendline trading. You have to know how to use the trendline, and you have to build your own strategy based on trendlines.

If you are a beginner trader, in this video maybe we can help you how to start the development, how can you think with TrueTL. The development and testing of your strategy is a long and hard work. We're just showing a possible way to begin, but you can find lots of other methods, it's up to you. Some other resources:

OUR STRATEGY

We’re trading on the forex market since 2008. We’ve seen a lot of seemingly simple strategy, magic indicators, promising robots…but we’ve never seen anyone who could earn money with them in a long term. We believe only in the ancient methods: peak/bottom analysis, S/R levels, candlestick patterns, trendlines..etc. During this 4 years, our knowledge has been developed to this stage where we are now, and it would be hard to give this knowledge to anybody…but we can share some of our rules:
  • basically we’re trading for trendline breakout on M15/H1 timeframe 
  • observing the place of multitimeframe 200 EMA (M1, M5, M15, H1)
  • and the support/resistance zones
  • we are entering with pending-order when the breakout candle is closed
  • we always use stoploss (on the previous peak/bottom level), and pulling it as the position goes (red or blue horizontal line on pictures)
  • the position size is always under 1%
  • and many more (candle pattern, regression channel, etc)
Risk warning: Forex, spread bets and CFDs are leveraged products. They may not be suitable for you as they carry a high degree of risk to your capital and you can lose more than your initial investment. You should ensure you understand all of the risks.