• A trend line is a line drawn over pivot highs or under pivot lows to show the prevailing direction of price.
• Trend lines are a visual representation of support and resistance in any time frame.
• They show direction of the market and intensity of the move.
Illustrated above is an example of 2 types of trend lines: Ascending and descending.
1- Ascending trend line connecting Jan, Feb and March lows (which was acting as a support).
2- Descending trend line connecting May, June highs (which is acting as resistance).
We are now in a bear market, any bullish move should be capped by the descending trend line resistance, today at 37000
• Trend lines are a visual representation of support and resistance in any time frame.
• They show direction of the market and intensity of the move.
Illustrated above is an example of 2 types of trend lines: Ascending and descending.
1- Ascending trend line connecting Jan, Feb and March lows (which was acting as a support).
2- Descending trend line connecting May, June highs (which is acting as resistance).
We are now in a bear market, any bullish move should be capped by the descending trend line resistance, today at 37000
Ramzi Abou Abdallah, CFTe, CMT
♦️ Subscribe to my telegram channel for daily signals for free, link below:
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♦️ Subscribe to my telegram channel for daily signals for free, link below:
♦️ t.me/accu_trading