hi Adeiaz1 and all fellow traders out there!
i've a question in mind here regarding drawing trendlines. most of the educational sources on the web suggest that trendline are drawn on the shadows instead of the close of price. however one book that i've read "Trading for a Living" suggest that trendline should be drawn on the close of price. As my trading experience is few, i'm not able to judge whether which is the proper way of drawing trendline. i hope u all can help answer my question and solve my confusion.
1)Which is the correct way of drawing trendline and why?
2)Another question i have is what gd source are there in the net which explain the theory behind SR lines and trendlines? just like Adeiaz1 said that an uptrend tells tt demand is higher than supply and the SR lines(demand lines) etc. most of the sites teaches hot to spot and draw but did not have gd explanation behind. i think that understanding the reason is as important as learning how to draw correctly.
thanks in advance and gd trading to all
Yuna
i've a question in mind here regarding drawing trendlines. most of the educational sources on the web suggest that trendline are drawn on the shadows instead of the close of price. however one book that i've read "Trading for a Living" suggest that trendline should be drawn on the close of price. As my trading experience is few, i'm not able to judge whether which is the proper way of drawing trendline. i hope u all can help answer my question and solve my confusion.
1)Which is the correct way of drawing trendline and why?
2)Another question i have is what gd source are there in the net which explain the theory behind SR lines and trendlines? just like Adeiaz1 said that an uptrend tells tt demand is higher than supply and the SR lines(demand lines) etc. most of the sites teaches hot to spot and draw but did not have gd explanation behind. i think that understanding the reason is as important as learning how to draw correctly.
thanks in advance and gd trading to all
Yuna