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xxfunguyxx Jul 30, 2008 11:23am | Post# 1

How to draw up or down trend?
 
Hi guys,

can you teach me or lead me to a source that tells u how to draw up trend or down trend? I know you connect tops for down trends, but do you connect the two closes ones or can you connect the 4 th top with the 1st top as well? also can you connect tops with bottoms? what does that do? how do u do it? thanks

billbss Jul 30, 2008 11:59am | Post# 2

Hi guys,

can you teach me or lead me to a source that tells u how to draw up trend or down trend? I know you connect tops for down trends, but do you connect the two closes ones or can you connect the 4 th top with the 1st top as well? also can you connect tops with bottoms? what does that do? how do u do it? thanks
There is no answer. Drawing trend lines is subjective. Give a chart to ten different people and you'll get ten different trend lines..

The exception is TD Trendlines. Google "TD trendlines" and you'll find several places that will teach them.

BigFace Jul 30, 2008 8:01pm | Post# 3

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As Bill says...Its mostly subjective

The only TA course I was ever sent on - (only really memorable for the free beer and "hot chick" instructor in tight black trousers and even tighter black vest - surely a deliberate ploy to soften the traders up to the (lack of) course content) .... did at least say...."the trendline must touch/connect a minimum of 3 points.."...

Actually, I suppose the other memorable thing about the course was during the afternoon live trading sessions when we had to apply what we had learnt to trade a specific ccy. We won (without any input from me) and when asked to explain our trading decisions etc, the group leader just said..."We thought it was going to go up today so we bought it....." probably not the detailed analysis the course instructors wanted

Hmmmm, the more I type about that course the more I remember..... beer....hot chick....beer....hotter chick....beer....."nightclub".... hot chick leaves with sober guy.... cab home!... But hey, I did get a certificate to keep my Boss happy..... If only I could remember which "nightclub" wall I stuck it on !...


Anyway... trendlines.. I like to draw them using "line on close" charts and they don't have to be "exact". They just give me a general area/trend to take note of.

Cheers
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Pip Ventures Aug 1, 2008 3:49pm | Post# 4

Here are some free videos that will help you much. And entertain, as it is Rob Booker. lol

Support and Resistance Trading: Setups and Rules

Rob Booker

When you click on Rob Booker you will see a lot of links to S&R videos he has made available at fxstreet.com

Happy Trading,

Mike Lewthwaite


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