I think if you have an open position, you just should wait for closing it, and until it's open it's not advised to update the trendline again.
Quoting StockKJayDislikedHi all,
I had an interesting situation on the USD/JPY last week (Sept 25-29). My first supply line was broken, giving me a long entry point at about 116.50 and a target of 117.40. Just before my target was hit I received another long signal @ 117.28 (new target 118.60). Obviously this is showing a very bullish usd and a weak jpy.
The usd bullish trend is so stong that it resulted in a very steep demand line. Because of its "steepness" some simple lateral market move gave me a sell signal (117.52). Of course, my common sense said to stay long. Had I gone short I would have lost. What do you guys think of this?Ignored