CEO -- when drawing trend lines I would suggest you should draw the line along the lows first in an uptrending channel and along the highs in a down trending channel. Then create your duplicate line and place accordingly. So your green line should be below the price trend. That's just what I was taught and not sure if anyone has strong opinions otherwise.
I have attached one below I was having a play with a few days back. Apologies for the crazy colours. I added the only gap I could see on there as well at 8.6 - 8.8. I don't call gaps if the price difference is one pip (e.g. it traded at 9.o but opened at 9.1) which could suggest that gap was closed when it traded to 8.7. Think there is strong support at 8.5 extending through to the last run up -- over a billion shares traded above this since it was broken. Scale is logarithmic. Current price is at the trend line again.
Happy for comments.
jezza
At least that is what I have been taught ... not sure if WW would feel otherwise.
CEO -- when drawing trend lines I would suggest you should draw...
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$6.88 |
Change
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| Open | High | Low | Value | Volume |
| $6.92 | $7.05 | $6.83 | $13.27M | 1.918M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 966 | $6.87 |
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| Price($) | Vol. | No. |
|---|---|---|
| $6.90 | 18661 | 4 |
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