Trendline breakout is a simple and effective way to scalp the Forex market. It does not require a complex technical analysis. All we need to do is create a correct trendline connecting previous high or lows. When price is trending up, we connect low and higher low.
See the picture below
On the picture above, price is trending up and we connect low and higher lows (yellow line). When price break the trendline, we go short and our target will be the lower bollinger band of the selected timeframe. This method will be more effective if we found a divergence on the upper Bollinger bands. The divergence will cause price to retrace or reverse and the trendline is our confirmation.
Thank you.
