I want to learn Trendlines, i have been gone through all the trendlines post and tutorials but still not convinced the way i'm drawed,
Please help me to know what is the rules to draw an uptrend line , downtrend and channel ,
For uptrend which is 2 points need to touched ?
close or open or high or low of the candle stick ?
For downtrend which is 2 points need to touched ?
Really appreciated your help !!!!
thanks in advance,
in trendline up or down better 2 point or more connected from each close bar together ....for entry point you can try draw trendline from higher Time Frame then swicth to lower Time Frame ...you can take entry point from lower Time Frame ...watch the pattern ...
Forex Indicators Collection
Use this indicator. It'll draw the trend lines for you and then you'll see what's going on.
My recommendation would be to read Demark's "New Science of TA..." book for what I found to be the defining discussion on trendlines.
me too learning to draw trendline. I did one sometime ago.
for uptrend you need to connect the HLs that are confirmed by HH (see the example below). downtrend is the other way round...connect LH that are confirmed by LL.
Hope this help:)
btw, please post if you found other useful trendline drawing method.