Hello,
Structure drawing is a crucial skill for wave traders as it helps them to identify potential price movements and trade opportunities. Technical analysis relies heavily on charting patterns, and understanding the different structures is vital to making informed trading decisions. Ascending and descending channels are two commonly used structures in technical analysis.
Ascending channels depict an upward trend with higher highs and higher lows, while descending channels indicate a downward trend with lower highs and lower lows.
By identifying these structures, traders can determine the strength of a trend, potential support and resistance levels, and make profitable trades accordingly.
Herein is an example of the the descending channel. Mastering the skill of structure drawing is crucial for wave traders to succeed in the financial markets.
Best regards,
Thesharkke
Structure drawing is a crucial skill for wave traders as it helps them to identify potential price movements and trade opportunities. Technical analysis relies heavily on charting patterns, and understanding the different structures is vital to making informed trading decisions. Ascending and descending channels are two commonly used structures in technical analysis.
Ascending channels depict an upward trend with higher highs and higher lows, while descending channels indicate a downward trend with lower highs and lower lows.
By identifying these structures, traders can determine the strength of a trend, potential support and resistance levels, and make profitable trades accordingly.
Herein is an example of the the descending channel. Mastering the skill of structure drawing is crucial for wave traders to succeed in the financial markets.
Best regards,
Thesharkke
Trade active
Note
Free stock markets analysis Telegram channel:
t.me/stocksfromtechnicaleye
Paid trading group
patreon.com/thesharkke
Reliable broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Free stock markets analysis Telegram channel:
t.me/stocksfromtechnicaleye
Paid trading group
patreon.com/thesharkke
Reliable broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.