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BPOI - FAST TRACK TRADING ACADEMY
TRENDLINES
HOW TO DRAW ACCURATE TRENDLINES FOR TECHNICAL ANALYSIS
Why draw trendlines?
- Trendlines can be an additional form of support and resistance and are sometimes more accurate than traditional support and resistance levels.
- Trendlines can help you identify the trend of the market whether that is bullish or bearish on short or long term timeframes
- Trendlines can be used to draw trading patterns and establish entries and exits of a trade.
- Trendlines if used correctly will help you to identify when and when not to open or close a trade.
How to draw trendlines
- Decide what timeframe you are trading on 15m, 1hr, 4hr etc
- Draw trendlines from wick to wick or body to body.
- Connect at least 2 points with the trendline. The more you can connect the more accurate the trendline.
- Be precise - inaccurate drawings of trendlines could end up losing you money by making decisions in the wrong areas.
- Sometimes you will need to adjust the trendlines, this is fine as long as you are connecting swing points.
- Always zoom out first to get the broader picture of what is happening on the chart.
TRENDLINE VIDEO TUTORIAL
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BPOI aim to deliver the best and most accurate trading information. However, with the proven volatility of the cryptocurrency market BPOI cannot fully guarantee that you will earn any profits using the provided content on the website. All the content shown on this website is derived from information we see and receive however it is down to each individual member to also carry out their own technical analysis and conclusions before entering a trade. The winning/earning potential and winning results are entirely dependent on the trader/user and the service provider that the client chooses to work with. There is no guarantee that you can replicate the success shown on this website. BPOI does not provide any financial advice and will not provide financial advice whilst trading.