Trend Line and Entry Level
Here is a good example of how to use technical tools and indicators together. Based on daily chart we could draw a such trend line. It was a trading idea to search entry levels on hourly charts if price could break the line. And we could open a long trade on 1H chart. The trend line was broken, and price bounced from new support line. At the same time we could get a signal from trading strategy based on indicators. RSI and MACD confirmed price reversal from MA20 and the trend line. Entry level was above the high of the signal bullish candle. Stop was placed below MA20 and the trend line. This trade made good profit.
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