Horizontals Over Diagonals!
Updated
Happy Tuesday Traders, Investors & Gamblers 😃
Here I wanted to point out how important it is to prioritise horizontal lines over chart patterns an diagonal lines. It is hard to draw a trentdline sometimes if we don't have a decent amount of individual touchpoints of which we always want to have at least three to confirm the trendline.
If I would have relied on the trendline of the ascending channel on it's own, My S/L would have been triggered and the trade would be closed by now. 👇
Note that now we have a clear confirmation on where to draw the trendline with 4 touchpoints (yellow circles)
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
Here I wanted to point out how important it is to prioritise horizontal lines over chart patterns an diagonal lines. It is hard to draw a trentdline sometimes if we don't have a decent amount of individual touchpoints of which we always want to have at least three to confirm the trendline.
If I would have relied on the trendline of the ascending channel on it's own, My S/L would have been triggered and the trade would be closed by now. 👇
Note that now we have a clear confirmation on where to draw the trendline with 4 touchpoints (yellow circles)
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
Note
Key Horizontals:Note
$19.950 or 20k to make it easier, the level is key to regain next for the bulls!Note
Here we have a chance to continue in the trend with a strong close above aprox. 19.300$ Note
Must confirm back above trendline, until then I'm on the sidelines.
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