Let's be clear about one fact here ;
I get many emails of people sending me charts drawing trendlines everywhere .......
Please see the REAL definition of what a trendline is ;
(Uptrend)
Draw a line from the lowest low, up and to the highest minor low point preceding the highest high so that the line does not pass though prices between the two low points.
(Downtrend)
Draw a line from the highest high, down to the lowest high point preceding the lowest low so that the line does not pass though prices between the two high points.
1 comments:
When you draw a down trendline, should we connect the lowest points or the closing points of the days?
Similarly, should we connect the highest points or closing points of the days when an up trendline is drawn?
Please help me to understand the above. Regards e-mail address: thwtina@netvigator.com
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