Technical Analysis - Material - Lecture 7 - November 11, 2018.pdf

Technical Analysis - Material - Lecture 7 - November 11, 2018.pdf

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Trend Lines  Abdelrahman Metwalli, CMT, CETA, CFTe
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Difference between a trend and a trend line A trend‐line is one of the tools used by the technician for trading  purposes. A trend, as previously explained, is the most important information a  technician or trader should know before initiating any trade, (i.e. the  psychology of trends).
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How to draw a trend line? To draw a trend‐line, there must be at least two points. Any line can  be drawn from two points.  The trend‐line is “confirmed” only when a third “successful test” of  this line occurs. 
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Types of trend lines 1. Uptrend line:  This line is drawn under the corrective lows of an  uptrend. This line obviously slopes upwards as the trend is rising. As we  mentioned, it takes only two corrective troughs (lows) to draw a trend‐
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