Trendlines are segments of lines or simply lines which are used to identify the direction of ongoing trend . They are really an important part of trading whether its intraday or swing trading. Trendlines are a part of Price action. These are used to recognise the trend and direction of market .
USES OF TRENDLINES :-
1:- To find the Trend
2:- To identify where price of stock , index , currency , etc is moving
3:- To find the support and resistance of price
4:- To assume the next move of price
5:-To draw different patterns of price action.
6:- They are used in Breakout and Breakdown Trading.
HOW TO DRAW TRENDLINES:-
Drawing trendlines is pretty simple . To draw trendlines you need to identify the Mountains ( swing highs) and Vallies(swing lows) . Once you identify them , Join or connect the swings highs with swing highs , similarly swing lows.
RULES FOR TRENDLINES:- specially for Begginers
1:- Do not intersect any candle.(for begginers)
2:- Must have 3 touches.
3:- will be continued this section
SHOULD YOU USE THEM ?
It completely depends upon you that you want to use them or not .
But i would like to say that Trendlines are great tools . Practice them and master them , so they can help you in your Trading carrier.
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