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TIPS ON DRAWING TRENDLINESThere are always a few rules of thumb to keep in mind when drawing trend lines. 1. First and foremost, a trendline is exactly that, meaning it is a line used to identify a trend. A line that touches many points but doesn’t give you a good indicator of where the price is going isn’t useful. 2. Keep it simple, but not too simple. As tempting as it may seem, we really don’t need to draw four or five lines to get our point across. However, one trend line by itself is too simple, and only semi-useful. In most cases you will be able to find at least three or more different trend lines in the short, medium, and long-term. In the case I have too many lines drawn, I generally pick 2 or 3 that I feel are crucial and delete the rest. One trend line is acceptable in cases where you feel like the evidence lies in other indicators. These indicators can be relatively simple, such as moving averages or RSI, or semi-complex such as Fibonacci lines or MACD. Whatever the case, the idea is to make your chart helpful and useful (while also being clear and concise.) 3. A trend line should generally touch three or more points on the chart . Two is acceptable when there is a clear trend but sometimes the lows/highs get close to the line but don’t necessarily touch it. If you look for trend lines in the RSI too, it will most often be the case that there is a trend the trend lines can only connect two points without cutting through another line on the chart. As long as you get the point across, people will generally cut you some slack. 4. It is (sometimes) ok to have your drawn lines cut through the price movements. For example, I did this on the S&P chart to signify that the trend line that was previously a support line has become a resistance line whenever the S&P crosses it. After crossing it again, it has become a resistance line. This is helpful for multiple reasons. To consider a breakout from a trend line a true breakout, it needs to retest the line at least once. This goes for a broken support line and resistance line. This makes sense because last weeks highs often become this week’s support. Also, it helps to establish the long term nature of a trend line if the price has on multiple occasions touched the line, and on one or two occasions it has crossed it and retested it. Sometimes I will intentionally draw trend lines through candles if it looks like a break out. On the chart, the signs of a breakout are very quick, steep price movements and large jumps in volume following a volume contraction. If the stock crosses the line over and over again within a short time period, chances are it doesn’t make a good trend line. 5. Connect the trend line to as many points as possible. There is no reason to stop drawing a line once it touches 3 points. If it can clearly connect more points than 3 go ahead. The longer the line the better, because it is more credible as a long term trend. 6. Connect the highs with the highs and the lows with the lows. This Is how you form clear trends. However, as I mentioned previously, you might want to connect last week’s highs with this week’s lows. Feedback is appreciated.
SP:SPXEducation
by Isaiahgr3
$GBPUSD Flagging and Ready for HigherNice flag pattern on $GBPUSD, this would go along with the narrative of short-term dollar weakness. Some nice wicks to fill as we look left, and the momentum is up so we know that wicks fill when markets are in momentum. Could place a stop right below that flag pattern if your a longer term swing trader with forex like me, or look to smaller time frames for scalps. Thanks for the support! If you have any questions, feel free to comment below! I will get back you all. Good luck!
Long
by UnknownUnicorn5514496
How to trade Gold this week.Hello, I am back after weekend with another Technical analysis, this time looking at Gold chart. Gold is pushing to seek a new high, Gold has been very bullish lately and it has created a nice looking trading range that I am going to explain to you, how take take advantage of this range. If you are looking to trade Gold, look for long position, as Gold is bullish and it would not be wise to against the trend. How to trade current XAUUSD chart? Simple, either buy the breakout or buy the bottom of this trading range 1793 - 1796.5 entry. Make sure to follow me in order to not miss out on my future setups. If you found this setup useful, please don't forget to leave a like! I post every working day. 🙌
FX:XAUUSDLong
by TiborVrbovsky
🏋️ 10 STEPS HOW TO DRAW TREND LINE IN 5 MINUTES [WRX — WazirX]Hello, have you familiar with 10 steps technic how to draw trend line in 5 minutes?! — I am not 😅 But in this 7 min video I explained how to make Simple TA for any asset using TradingView basic tools to understand where it goes. In this video: 1. How to draw trend line 2. Descending Wedge (Falling Wedge) 3. WazirX WRXBTC coin analysis, entries and targets. Previous WRX analysis and HOW TO MAKE TA in 10 min: Have fun, enjoy your trading This is Artem Crypto
WEducation
by ArShevelev
10
WHAT TOPICS WOULD YOU LIKE ME TO COVER?Hi Guys - all my followers and non followers.. I am getting back to releasing weekly episode/episodes of the ' Art of trading Psychology' in the aim of helping traders get in the 'zone' when trading. Mastering trading psychology is by far one of the hardest aspects in trading yet it is also the one that will drive you to you success as a trader if mastered. I would truly love to cater this podcast to you guys and in order to do so, i need to understand what it is you're struggling with and what you would like to cover i.e - finding taking profit hard? - being consistent - scared to take a trade or uneasy when you're in a trade? - Losing too much? Anything you think of, drop it in the comments below or message me!!
Education
by Malika_Analysis
👨🏽‍🎨👩🏽‍🎨👨🏻‍🏫HOW TO MAKE TA IN 10 MIN 👨‍🏫👨🏻‍🎨🧑‍🎨Hello guys! In next 10 min I will teach you how to make TA! Really simple steps to create your TA. 4 useful tools to build your TA: -Trend Line -Head and Shoulders -Levels -Fibonacci ATTENTION: Dear followers please consider to appreciate my ideas on tradingview with your likes, this will help bring more quality content in next trading ideas. And if new to my work, and you like it, you can Follow my page to receive ideas in your Ideas Stream. Thanks 🤝😊 Stay tuned to Artem Crypto
WEducation
by ArShevelev
17
The Gold Method Ichimoku Weekly ReviewHere is the Weekly review for the week of January 20th through the 24th: Another strange week as the GBP pairs remained in a consolidation. We only took one trade, which was a failed breakout on GBPAUD on Monday for a loss of -27.6 pips. Recognizing and adapting to the current market conditions we became more selective with our trades. By doing so we avoided taking three more losses this week and you can never discount the benefit of not putting a hole in your account. Moreover, we did have 2 trades that came close but did not reach our entry and therefore were invalidated. A huge benefit of using specific entries is that it allows us to have a small stop loss and hence a larger position based (based on risk%). The downside is sometimes, like this week, we will miss trades. So there it is, the first losing week for the Gold Method Ichimoku since we started. Consolidation is followed by expansion, market fact!! Stay Green my friends, Allen
Education
by AGold54
5
The Gold Method Ichimoku Weekly ReviewThis week tested our patience and discipline in the Trade room for The Gold Method Ichimoku. Here is a day by day breakdown: Monday, we passed on both a breakout trade and a MA trade, both of which made money. However, despite the potential result the decision to stay out based on the market conditions at the time was correct. Tuesday, we had a very nice Type 1 Break out trade on GBPNZD which was good for 26 pips. Wednesday, we took a news/MA trade in GBPJPY that we closed flat. Thursday, we had a Type 1 Breakout trade in GBPCHF which quickly jumped up 10 pips, but then unfortunately failed. Friday, While we got teased with a couple of potential trades before UK retail sales, we got a News/MA trade in GBPJPY after that went for 45 Pips. ( I closed my position flat as did some others). However several traders who needed the trade to get above their BFV stayed in and accomplished the goal. Well Done!!! Sincerely, Allen Gold Since I have had several more traders inquire about the book and I hate to turn people away, if you are interested in the book, please send me an email at FXGOLD54@gmail.com
Education
by AGold54
MAJOR TOOL YOU MUST HAVE IN YOUR TRADING TOOL BOX!COINBASE:BTCUSD SUPPORT AND RESISTANCE COVERED! It is so important that you understand support and resistance. It may seem so basic but this alone can make you consistent profits. Understanding where the market may pivot is an edge you simply can not afford to not have in your technical plan. If you have any questions or comments, leave them down below and i will get back to you! want a topic covered? let me know in the comments.
COINBASE:BTCUSDEducation
by Malika_Analysis