TraderVersity Support Resistance Trendline System – High accuracy Forex H1 Time Frame intraday trading system and strategy.
This is super easy Trendline Support Resistance Trading with MACD and RSI indicators.
Trend lines are levels used in technical analysis that can be drawn along a trend to represent either support or resistance, depending on the direction of the trend.
These trend lines can help us to identify potential areas of increased supply and demand, which can cause the market to move down or up respectively.
Let’s take a look at a trend line that was drawn during an UPTREND.
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Notice how in the EURUSD H1 chart above, the market touched off of trend line support several twice over an extended period of time.
This trend line represented an AREA of SUPPORT where traders can begin to look for BUYING opportunities.
Now let’s take a look at a trend line that was drawn during a DOWNTREND.
This EURUSD downtrend touched off of our trend line three times over an extended period of time.
The difference is that the trend line above represents a DOWNTREND, during which time it acts as resistance, giving traders an opportunity to look for SELLING opportunities.
TraderVersity H1 intraday Trendline Support Resistance Trading System and Strategy – This is a very basic, simple, time-tested trading system, which with an addition of a trend following indicator, gives an excellent result.
- Best Time Frames: M15, M30, and H1 (intraday trading)
- Most Recommended Currency Pairs: EURUSD, GBPUSD, EURGBP, GBPJPY, and USDjPY
- SR Trendlines
- MACD Trad Colored
- Ichimoku Kinko Hyo
- Relative Strength Index
- Price upward and has closed above the resistance line
- Relative Strength Index line upward and above the 53 level
- MACD indicator green color histogram
- Price downward and has closed below the support line
- Relative Strength Index line downward and below the 47 level
- MACD indicator red color histogram
This “TraderVersity H1 intraday Trendline Support Resistance Trading System” is simple and yet effective.
There is no need to stress and worry that you made the wrong trade.
You follow the rules and do not let anything else make you back out of a trade. If it follows the rules, execute the trade with confidence.
Always remember to only be risking no more than 2% of your account!
This system will help you identify daily trends and points where they break.
There is no need to force yourself into a trade.
If it does not follow your rules and guidelines then search for another pair to trade.