If the market had committed a significant move in some direction
during the day, there would be a high probability of some extension
in the same direction during the next day. The same assumption can
also be used for analysis of weekly and monthly charts.
A trendline is like a borderline between the market territory and
open space. Right ahead of an ascending trendline, you should take a short posi-
tion. Be cautious, because every line drawn through any three significant points
will be broken sooner or later. Each subsequent market approach to such a line in-
creases the probability of a break. If a break takes place, stop and reverse your po-
sition a short distance from the break point.
during the day, there would be a high probability of some extension
in the same direction during the next day. The same assumption can
also be used for analysis of weekly and monthly charts.
A trendline is like a borderline between the market territory and
open space. Right ahead of an ascending trendline, you should take a short posi-
tion. Be cautious, because every line drawn through any three significant points
will be broken sooner or later. Each subsequent market approach to such a line in-
creases the probability of a break. If a break takes place, stop and reverse your po-
sition a short distance from the break point.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.