Scribd Logo
Upload

Welcome to Scribd!

  • Trendline Flowchart

    Uploaded by

    san Ray
    243 views1 page
    1) To draw a valid trendline, connect the last two obvious peaks or valleys on a chart. 2) A trendline is only valid as long as the previous opposing supply or demand level has been removed and price has not closed on the other side of the trendline. 3) Trendlines drawn between candlestick patterns like rising/falling three methods are invalid and should not be used to identify supply and demand zones.

    Original Description:

    Trendline Flowchart

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    1) To draw a valid trendline, connect the last two obvious peaks or valleys on a chart. 2) A trendline is only valid as long as the previous opposing supply or demand level has been removed and price has not closed on the other side of the trendline. 3) Trendlines drawn between candlestick patterns like rising/falling three methods are invalid and should not be used to identify supply and demand zones.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    243 views1 page

    Trendline Flowchart

    Uploaded by

    san Ray
    1) To draw a valid trendline, connect the last two obvious peaks or valleys on a chart. 2) A trendline is only valid as long as the previous opposing supply or demand level has been removed and price has not closed on the other side of the trendline. 3) Trendlines drawn between candlestick patterns like rising/falling three methods are invalid and should not be used to identify supply and demand zones.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    READ THIS FIRST!

    To understand this tutorial


    you should have these
    prerequisites:
    None
    Drawing trendlines

    Has not yet removed


    opposing level.

    Invalid.
    Valleys Not Broken.

    Connect the last two OBVIOUS peaks OR valleys


    The trendline is not broken UNTIL one whole
    (RBD, DBR). In this case the previous valley has The previous opposing supply level has been We do NOT use CP patterns to draw our TL
    candle (OHCL) closes on the other side of the
    not removed the opposing peak and is therefore removed and the trend line can be extended. (RBR, DBD).
    TL.
    not valid.

    Entry TF Entry TF

    HTF supply HTF supply

    Invalid demand
    because of Invalid
    Broken.
    broken TL.

    Inside HTF supply or demand wait for two peaks


    You are not allowed to take this demand level
    The trendline has broken one whole candle If price penetrates HTF supply or demand the TL (for HTF supply) or two valleys (for HTF demand)
    because the trendline is broken so we can't use
    (OHCL) has closed on the other side of the TL. is invalidated. to form on the entry TF so you can connect the
    this level. The trend has gone from up to neutral.
    TL.

    You might also like