This, as I mentioned many times before drawing trendlines, there’s no right or wrong answer. Because drawing trendlines itself is an art on its own. Yes, there is some basic fundamentals to drawing trendlines, but generally like what I showed you, the way that I draw earlier on and the one I draw right now, it can be actually use both interchangeably. Okay? So for me it’s, I prefer to look at the trendline in this manner because if whenever possible I will always try to keep everything within the boundaries of the trends. Okay?
So as we can see over here right now, this is obviously is pretty clear that over the past 2014, I think now that’s about five years. Five years, it has been trending lower right now and over the short run since March last year until this year, which is about one and a half years, it is still basically trending lower. Okay? So if we just zoom in further and take a look. So as you can see, very clear over here, this was since 2016. Up till now this was an uptrend, and this was basically the downtrend. Okay?
Interested to receive mentorship opportunities like this with Philip?
Find out more at traderwave.com/tv
- How To Build The Discipline Of Following Your Trading Plan - May 28, 2020
- How To Overcome The Issue Of Cutting Loss Too Late - May 26, 2020
- How To Draw Steeper Trend Lines In A Parabolic Move - May 23, 2020