Here we have 2 strong trend lines ( TL )
TL1 was touched by price 6 times before it finally broke out, and TL2 was touched 16 times before breaking out.
TL1 when price broke out it had a bullish run for 8 days and in this time it managed to collect 270 pips, going into this breakout there was a slowdown in selling power ( small bodied red candles ) and a lot of buying power ( big green candles ) suggesting that price was getting ready to explode and BOOM we had lift off.
TL2 exactly the same thing happened , price slowed down with small candles forming suggesting price change, then some bullish candles formed just before we had another BOOM... price then went for a day trip to the moon, this time collecting 420 pips over just 7 days. If you held this you could probably have afforded your own trip too the moon ;p
That would have been a lovely month trading for you just before Christmas making over 700 pips just on 2 trades! That's a hell load of mince pies.
So if you still don't believe how easy TLs are to trade and how affective they are you must be drinking too much tap water that the government are blindly feeding you fluoride in to numb your brains and keep you in line ;p
When a TL is broken by price DONT remove them off your chart thinking they are no good anymore... because sometimes price comes back down and tests them as support, but that is another lesson for another day... Don't want to overload your brain now do we? haha.
TL1 was touched by price 6 times before it finally broke out, and TL2 was touched 16 times before breaking out.
TL1 when price broke out it had a bullish run for 8 days and in this time it managed to collect 270 pips, going into this breakout there was a slowdown in selling power ( small bodied red candles ) and a lot of buying power ( big green candles ) suggesting that price was getting ready to explode and BOOM we had lift off.
TL2 exactly the same thing happened , price slowed down with small candles forming suggesting price change, then some bullish candles formed just before we had another BOOM... price then went for a day trip to the moon, this time collecting 420 pips over just 7 days. If you held this you could probably have afforded your own trip too the moon ;p
That would have been a lovely month trading for you just before Christmas making over 700 pips just on 2 trades! That's a hell load of mince pies.
So if you still don't believe how easy TLs are to trade and how affective they are you must be drinking too much tap water that the government are blindly feeding you fluoride in to numb your brains and keep you in line ;p
When a TL is broken by price DONT remove them off your chart thinking they are no good anymore... because sometimes price comes back down and tests them as support, but that is another lesson for another day... Don't want to overload your brain now do we? haha.
Comment:
I’m not sure what happened to the chart, you can see the 2nd TL breakout but not the 1st one.