Take note of the price action and the direction it is trading for the last six months. The direction it trades is called the trend and in the forex market you will notice that currency trends are common at different time periods in different currency pairs. Take note of all upward trends in the currency pairs by spotting price action that begins in the lower left-hand corner of your Price chart and trades upward at an angle toward the upper right-hand corner of the chart.
Draw an upward trendline on any currency pair in an upward trend. Press "Draw" tab button at the top of the chart and then select the Trendline button. Find the lowest significant low point on the currency pair's price action and connect it to the highest significant low point on the chart.
Prepare to enter the trade as price goes on to make a significant low on the trendline. When the following price bar trades over the high of the bar that made the significant low on the trendline, then enter the trade on the close. Immediately place a stop loss point below the preceding bar's low for risk protection while taking note of how many PIPs are at risk. A PIPs are the smallest unit of price for a currency being the last decimal point in exchange rates or currency pairs.