Counter trendline breaks

Let’s start with an uptrend. As we are going up, the candles are waving up and down. To find a good entry to go up, we want to wait for the candles to go down, and start going up. After we see 3 candles of retracement, we draw a counter trendline (down) and wait for a good bullish candle to break this. We prefer a candle that is at least 75% body (25% wick).

We put our stop 10 pips below the low. We use fibs or support/resistance to determine our limit.

Or you can set a very high limit (1000 pips) and move the stop loss every time a higher low is formed. Then you can ride this wave as long as it lasts (surfing the forex)!  HANG 10!

ctrlbreak 300x216 Counter trendline breaks

Trading counter trendline breaks in an uptrend.

ctrlbreakSell 300x216 Counter trendline breaks

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