TRENDLINES - WHAT ARE THEY ? HOW TO USE AND DRAW THEM ?

TRENDLINES :-

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.


.IF YOU HAVE ANY QUERY MUST COMMENT DOWN BELOW .

I WILL REPLY IT ASAP.

THANKS FOR READING .


 


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