One of my friend ask me whether trend line can act as our entry or not? The Answer is NO! I only use the trend line as my guideline to identified the current trend. How to do this?
Usually i will draw trend line at higher time frame first such as Daily and H4, from that i will know whether market still in the uptrend or downtrend or even sideways. After i know the current trend, then i will zoom to lower TF (time frame) H1, M15,M5 to find a perfect entry.
Sometimes, price will just break or test support/resistance level and then market not change the the direction.
At my previous post i mention that i also use trend line as my emergency exit line.
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