Trendlines are used in technical analysis to define an uptrend or downtrend. Learn the importance of trendlines in charts, including range and support and resistance levels, and find out why these are important when building an effective trading strategy.
In this free ebook you'll learn:
Our ebook explains how you can use trendlines to spot psychologically important price levels and predict which way prices will move in the near future.
Learn how you can design an effective trading plan around support and resistance levels, enter the market when a new trend starts to develop and plan an exit strategy when the trend is about to end.
Trendlines tend to act as support, which could present a buying opportunity. Conversely, downtrend lines tend to act as resistance and potentially present a selling opportunity. Support and resistance levels, when used in conjunction with a sensible risk management plan, can go a long way in helping you to strengthen your trading plan.