NiftyMagician: Basics of Trendlines

Learn The Magic of Technical Analysis

NiftyMagician: Basics of Trendlines

Unread postby admin » Wed Jan 06, 2016 12:28 am

I am writing here which i know, it help you...

1.When drawing trend lines in a downtrend, you draw them above the price.

2. When drawing trend lines in a Uptrend, you draw them below the price.

3. At least two swing highs or swing lows are needed to draw a trend line in either direction.

4. For a trend line to be valid, at least three highs or lows should be used.

5. the more times the price touches a trend line, the more valid it is, because there are more traders using them as support or resistance.

6. Always use the wicks of the candlestick to draw the trend line instead of bodies of the candlesticks.

7. Enter when the price breaks through the trend line and let it stay there for some time either side for quick returns.

Thanks.
Share this with your friends/Facebook so all can be benefited.

If you like this post please click on LIKE button and share it to world.
Like Us :

admin
Site Admin
 
Posts: 107
Joined: Tue Jan 01, 2013 1:27 pm

Return to Learn Technical Analysis



Who is online

Users browsing this forum: No registered users and 10 guests

Shop at amazon and get latest offers
cron
============================================= =============================================