Have a good understanding of the following trendline factors if you want to use the trendline for technical analysis effectively.
  1. Trendline analysis can be very subjective - don't get caught in the trap of an over-analysis trap
  2. Support lines create support and resistance in the market.
  3. Use 3 anchor points to make sure you draw a quality Trendline.
  4. Use the common point method to "cross" false breakouts when drawing a Trendline.
  5. Price Action traders can enter orders on reversing candlestick patterns at the area of the trend lines that were previously determined.
  6. Look closely at the candle that closes outside your Trendline. Maybe that is the real breakout, the trading opportunity!
  7. Two Trend Lines run in parallel to create Price Channel structures.
  8. The wide-angle then gradually narrowed trend line intersects each other at 1 point, creating a bullish pattern - a potentially explosive breakout.
  9. The two growing trend lines create an elusive, high volatility pattern called the Cai Loa model.
  10. A price fragment that moves against the current price trend may produce a Flags Pattern.
  11. Stay tuned to see if the candle breaks out of the Flag pattern, which could be a signal that the current price trend is continuing.
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