A trendline is a line drawn on a chart to connect a series of highs or lows, illustrating the direction and strength of a trend. Trendlines can be used to identify support and resistance levels, as well as to determine the overall trend of a market.
Round numbers (ending in 00 or 50) often act as invisible trendlines. If your technical trendline intersects with a round number, expect a violent reaction. This is where "Smart Money" places their orders. trendline trading strategy secrets revealed 21 full
Never use a static trailing stop. Secret #14: Trail your stop loss under the trendline itself. Each time a new candle closes, raise the stop so it sits 1 ATR below the current value of the trendline. If the line rises, your stop rises. A trendline is a line drawn on a
Identify a pullback (flag) within a larger trend; enter when price breaks the flag's internal trendline. Capitalize on momentum. If your technical trendline intersects with a round
Trendlines work on all timeframes, but they obey the hierarchy of the chart. A trendline on the Daily chart is a brick wall; a trendline on the 5-minute chart is a picket fence. Always check the trendline on the timeframe one level higher than your trading timeframe.