Coming back to process of drawing trend lines manually, here are the steps.
Use and apply any zigzag indicator on the chart. In the demonstration, we have used Recursive Zigzag
Draw lines which joins more than 2 pivot lows for lower trendline and more than 2 pivot highs for higher trend line.
Make sure from starting pivot to ending pivot, price has not broken trendline convincingly, there can be rejections (touches) or fakeouts (just one or two bars outside trend line)
Higher number of candles touching the trendline, higher the strength of trend line.
If both higher and lower trend lines can be established, we can identify it as pattern - which can be triangles, wedges, channels etc.
Use different levels and lengths of zigzag to find different combinations. And then zero down to best possible pattern or use them in confluence.
Hope it was helpful and please let me know if you have any questions.
Excellent video. Very informative. Much appreciated.
misamtaminy2
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Hello to all my friends, I think there was some stress and fear involved in the analyzes I saw from my friends, the events around the world, both economically and politically, can undoubtedly have a great impact on the market trend. I myself am short-term strategic and even in some cases I took the volatility of E Token and currencies, but the chart of Ethereum is much stronger than the previous rounds, it is running an upward trend. According to my analysis, if it can pass the resistance area of 1562, the best area and the point for short-term correction can be 1800, which if support Buyers and sellers have resistance, the last point can definitely be seen in 2033, and then according to the bitcoin chart, the possibility of decline and correction will be more than the continuation of the upward trend. Send it to me, thank you
riquardbeks
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wauw, thanks a lot!
Freediomforuniverse
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trendlines simple effective.
SpikeDumont
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Thank you! im new and learning everyday, this was really powerful for me, trendlines have always been a mystery - until now! Thanyou!