Trends trade in channels
A top & bottom
Where's you opposing trend line?
How do you counter your trade?
How do you hedge yourself?
1 line looks pretty & fits nicely but I need a top & bottom so I can go short & long
Identify where we go next
Is the chart strong enough to move up a channel?
Is the chart weak enough to move down a level?
A lot of questions I go through every single day & without flooding the threads with lines & charts that vary regularly, I try give simple fences to make it easier for day trading
My lines can go back months & still work
I don't have to redraw lines for a trend for this week
I don't care if I'm off by 20 points when we're looking at 200 point ranges
Trends trade in channelsA top & bottomWhere's you opposing...
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Last
8,227.3 |
Change
39.900(0.49%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,187.4 | 8,242.8 | 8,187.4 |
| XJO (ASX) Chart |