Drawing trendlines and channels is a fundamental aspect of technical analysis when trading GBP/USD or any other financial instrument. Here's how traders can effectively draw trendlines and channels on GBP/USD charts:
**Drawing Trendlines:**
1. **Identify Trend Direction:** Before drawing trendlines, determine the direction of the trend on the GBP/USD chart....
📍 What Are Fibonacci Retracement Levels?
Fibonacci retracement levels—stemming from the Fibonacci sequence—are horizontal lines that indicate where support and resistance are likely to occur.
Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and...
Hello traders 👋
Today im sharing my trading strategy with trendlines. It's my first education post, so maybe a lot of mistakes. Please don't take it the wrong way, thank you.
Let's talk about lesson
What are Trend lines?
Trend lines are diagonal lines that are drawn on charts in the financial markets trading. Trend lines are used to highlight , visualize ,...
In this video i showed you how to use Trendline for entry in the easiest and simple way.
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I would like to hear your view, drop your comment.
In this video I cover the basics of how to draw a trendline and trade based off those trendline set. If you have any suggestions, ideas, feedback please feel free to comment and drop a like if you enjoyed the video... Thank You!
Whenever i see a trend-line break , but not a follow-through move, i draw a parallel Trend line to the new low made.
And if the price break this new trend-line, then the chances of price follow through becomes high.
Hence nifty is sell below 8980 levels.
Do not follow blindly, please do your own research.
Trendlines can be super powerful! Draw them onto the tops of the wicks of the candles, do not 'make them fit' and always be wary for a retest to get that sniper entry!
