This article in The Trader’s Indicator Series discusses end of trend market reversals, which is also an integral component of the trader’s toolbox and crucial for manual trading. The previous article discussed trend line and channels, an important segue into this topic.
In the last series, called The Trader’s Pendulum, we took you through the 10 Habits, all aimed to support a successful trader. Your mission in developing these habits is to get out of the Technical Trader’s Trap and transform into an Entrepreneurial Trader so that you can start being accountable to your trading. We invited you to take action and begin your journey by completing the Trader’s Scorecard (www.fxtradersedge.com/scorecard) and to get down to business by arranging a free coaching session. In this Indicator Series, we talk about the mechanics of trading.
Trend Lines and Channels for Market Reversals
Trend lines can also be used to target and confirm where a breakout or reversal could take place. This can be extremely useful and provide great entry and exit points for a trader. Trend lines can be drawn on any time frame but using Daily candle charts would be the best starting point for capturing the broad trends.
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