Forex Trend Line Strategy
All the indicators are aligned showing you that an upward movement is coming and best of all, you have a trend line break which is the typical entry according to most traders or trading books.
At this point, you decided to enter a LONG trade and happily click on the BUY button. Somehow, the market suddenly reverses and all you can do is sit and watch how the price slowly moves toward your stop loss.
Finally you hear an alarm from your platform telling you that your stop loss is triggered.
To make things worse, the price moves back up in the direction you have entered your trade earlier on and you start to ask why don’t you set your stop loss further away.
The Problem Does Not Lie In Your Stop Loss
The problem lies in your entry!
All the indicators may be showing you that an upward movement is coming and you have a trend line break BUT