We use Trendlines to identify a current trend in the market.
Trendlines can be used in different ways:
- To determine a markets overall direction (upward or downward)
- To identify a specific price level at which a security may experience support or resistance
- To measure the rate of change of a security’s price
- To identify bullish or bearish patterns in a market price movement (Momentum Break)
Two main types of trendlines:
- Upward trendlines are used to identify an uptrend, and are created by connecting two or more lows.
- Downward trendlines are used to identify a downtrend, and are created by connecting two or more highs.
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