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17 69916 hours ago
An uptrend line indicates a market in an uptrend.That is unless you are using a trend line on a micro structure
such as a pullback in price. Why do we draw the trend line?
There are two main purposes for me for drawing upward trend lines:
To trade off the upward bounce of the upward trend line
See if price intersects that upward trend line, it is a potential signal for a downtrend so if I have trade positions are currently in profit, I should be probably thinking of bailing out!
Look for higher swing lows or call it “bottoms” of price if you may.
For a market in an uptrend (like the chart above), trend lines must be drawn below the price connecting a minimum of 2 bottoms of increasing height. You need a minimum of 2 bottoms to draw a trend line.
Make sure the bottoms are spaced apart nicely. If they are close together, it is generally not good to use.
If they are too far apart, they would not be noticeable.
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