After every run either up or down, when the trend line is broken, in the majority of cases that is where you will get a dangerous consolidation period where you can get whipsawed into bankruptcy. That is why I just try to follow the lines and when price is moving in the middle of the lines I don't trade. See my last chart.
Occasionally you will get an immediate reversal but usually you need the consolidation period first.
FWIW
After every run either up or down, when the trend line is...
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Last
7,889.6 |
Change
72.800(0.93%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,816.8 | 7,902.6 | 7,816.8 |
| XJO (ASX) Chart |