The foundation of my long term trade

I use trend to enter and exit a long term trade. Only some pairs work well with this method, the trendy ones, such as EUR/USD, AUD/USD, GBP/USD, USD/CAD, EUR/GBP. Most of the cross do not have a strong trend, take a look at pairs such as EUR/CHF, CHF/JPY, you will understand what I am talking about. Don't misunstood, anyone can make a profit in any pairs, what I meant is, to utilize the trend, one have to find the pair with strongly trend.

How to define a trend? I only use two simple facts. One, the daily chart, any other time frame less than daily seem to be noisy, if the chart is left side at the bottom and right side at the top, it's up trend. if the chart is left side at the top and right side at the bottom, it's down trend. That's how simple it's. Second, FUTURE interest rate curve. If the future interest rate difference is going to be widden, the pair will be in up trend, otherwise down trend. Take a look at AUD/USD, AUD's rate will go up but USD will remain, so there rate difference will be widden, which make it a up trend.

About entry, one should only enter posistion at Support and Resistant, this will minimize your trade getting stop loss out. Even it gets stop out, there's high chance you can get back in the trade later when the trend is back. S/R are places where there are a lot of price actions, which it have been touched multiple times in the past. keep in mind S/R is a zone, not a exact price, it can be a 10-30 pips range. S/R should also be examed in Daily time frame, that's what the pros do and that's what the pros are targeting. S/R based on Hourly time frame are weak, only for naives.

About stop lost, this depends on the valativity of the pair and the market, usually between 70-120 pips. for example, AUD/USD can be 100 pips, GBP/USD is more valatile, a bigger stop loss is needed. If a good entry is used, and the trade gets stop out, most likely the trend is broken as well. That's why S/L should be defined with daily time frame, not hourly.