Further to yesterday, here's an example of a trade that was taken primarily using trendlines.
I was alerted to a possible long when the trendline joining the highs was broken. At that point, I drew a second trendline joining the lows and entered.
Notice the trade actually went against me for a while, until it eventually found support on the trendline and started rising. Normally I say exit if the channel crosses the SMA to the other side but the trendline kept me in. If I had taken a multi-bullet approach to this trade, you can imagine where I would have added.
I do want to stress that trendlines shouldn't be used as an excuse to avoid taking a loss however. If that bottom trendline had decisively broken, I would be out with a loss.
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