When the market rises and then returns, the highest point reached before returning the resistance.
When the market goes up again, the lowest point reached before starting to rise again, is the support.
In its most basic form, a rising trend line is plotted on the bottom of easily identifiable support area (valley). In a downtrend, the trend line is drawn on top of easily identifiable resistance areas (peaks).
To create a rising channel, simply draw a line parallel to the same angle as a trend line upward and then move that line to a position where it strikes the most recent peak.
To create a channel down the parallel line is drawn at the same angle as the trend line down and then move that line to a position where it touches the most recent valley.
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When the market goes up again, the lowest point reached before starting to rise again, is the support.
In its most basic form, a rising trend line is plotted on the bottom of easily identifiable support area (valley). In a downtrend, the trend line is drawn on top of easily identifiable resistance areas (peaks).
To create a rising channel, simply draw a line parallel to the same angle as a trend line upward and then move that line to a position where it strikes the most recent peak.
To create a channel down the parallel line is drawn at the same angle as the trend line down and then move that line to a position where it touches the most recent valley.
related posts
- hull trend
- ichimoku technique
- swing points trading
- trading volume strategy
- forex bill williams
Forex is simple follow the trend and you will rich.
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