In this thread, we'll learn about -
1. Features
2. Method to draw
3. Uses
4. Two Specific setups
5. Five crucial Tips
Super thread on Trendlines & Two High-Quality Setups based on them.
๐งต
In this thread, we'll learn about -
1. Features
2. Method to draw
3. Uses
4. Two Specific setups
5. Five crucial Tips
- Trendlines act as Support & Resistance (S/R).
- Break of Trendline shows a possibility of a Trend change.
- Risk : Reward is favorable when you initiate a trade from Trendlines.
A. Use them as S/R lines and trade according to any of the Price Action strategies like Breakout, Pullback, BOF etc.
B. Use in any of these two specific Price action based setups -
1] Trend Trading
2] Reversal trading
For this, we need to learn about "Area of High Confluence" -ย
They are ...
A lot of traders have their eyes on it. High probability that they will start action here, causing the development of a new trend.
1. There should be the presence of a larger ongoing trend in bigger TF, draw a trendline for that.
2. There should be the development of an immediate trend in smaller TF, draw trendlines for that one too.
4. Once this trendline breaks, take entry.
This setup will be clear by the following example -
We drew the Trendlines containing the peaks for this trend.
When this uptrend touched the Area of High Confluence, we've drawn trendlines below this.
d) You can see this line diagram chart to get more clarity.
You can see the Risk was very small making the R:R quite high.
2] Reversal trading using Trendline:-
Look for Double Top or Double Bottom formation just before a trendline breaks.
When that happens you can initiate a trade keeping the high as SL. R:R is very good in this scenario too.
a) The presence of Uptrend was there, we've drawn trendlines for that.
I will DM you the "Accurate method to draw Trendline & Five crucial Tips for trendlines" when you RETWEET the first Tweet below -
Plz make sure you follow me @CnceptualTrader to get the DM.
https://t.co/S4nSs99Qr5
Super thread on Trendlines & Two High-Quality Setups based on them.
— The Cnceptual Trader \U0001f1ee\U0001f1f3 (@CnceptualTrader) September 18, 2022
\U0001f9f5
Join my Free Telegram channel at https://t.co/rpGeR19CEy
to get the PDF copy of my previous threads.
Thank you
X0X0
More from The Cnceptual Trader ๐ฎ๐ณ
Here are 16 Free & powerful Scanners for Traders.
๐งต
1. NR7 breakout scanner -
NR7 is a great concept using which you can identify the potential breakout candidates.
For details on NR& concept refer to this thread - https://t.co/EgC9h77bLl
Here's the scanner -
2. Volume & price shockers -
This scans the stocks that have seen a sudden rise in their volume by over 2x times the average volume of last 10 days and have gained or lost more than 5% today.
Great candidate for breakout /
3. 15 min breakouts -
These stocks have shown a rise in both prices as well as volume in the last 15 min. High chances that they will continue the rally
4. Engulfing Candle scan -
This scans the stocks which are in extended up/down trend & have formed Engulfing candle now. They are a great candidate to take reversal trades.
Bullish engulfing - https://t.co/4pOosoeMsL
Bearish engulfing -
๐งต
1. NR7 breakout scanner -
NR7 is a great concept using which you can identify the potential breakout candidates.
For details on NR& concept refer to this thread - https://t.co/EgC9h77bLl
Here's the scanner -
2. Volume & price shockers -
This scans the stocks that have seen a sudden rise in their volume by over 2x times the average volume of last 10 days and have gained or lost more than 5% today.
Great candidate for breakout /
3. 15 min breakouts -
These stocks have shown a rise in both prices as well as volume in the last 15 min. High chances that they will continue the rally
4. Engulfing Candle scan -
This scans the stocks which are in extended up/down trend & have formed Engulfing candle now. They are a great candidate to take reversal trades.
Bullish engulfing - https://t.co/4pOosoeMsL
Bearish engulfing -
More from Catagory trading
Twitter has more than 89,000,000 threads on trading strategies.
Here are top 10 threads that will teach you about Stock Market:
1โฃHow To Read a Stock Chart For Beginners by @RichardMoglen
๐
2โฃThe simple 8-step process to make a trading plan by @AdityaTodmal
3โฃThread on Darvas Box Theory
2โฃHow to find out high and lows of stock market by
Here are top 10 threads that will teach you about Stock Market:
1โฃHow To Read a Stock Chart For Beginners by @RichardMoglen
๐
As Traders, Technical Analysis allows us to Judge Potential, Identify Accumulation, and Manage Risk.
— Richard Moglen \U0001f981 (@RichardMoglen) April 2, 2022
It allows us to see through the noise and interpret price action.
Here is How To Read a Stock Chart For Beginners (Thread)
2โฃThe simple 8-step process to make a trading plan by @AdityaTodmal
The best traders have a trading plan.
— Aditya Todmal (@AdityaTodmal) February 13, 2022
But 98.8% of the new traders, don't know how to make one.
I analyzed @niki_poojary's account, to learn how we can create a plan on our own.
Here's the simple 8-step process:\U0001f9f5
3โฃThread on Darvas Box Theory
Strategy to make higher returns in Short duration :-
— Flamingo Trader |Ankit Saraswat (@FlamingoTrader_) February 21, 2022
Thread on Darvas Box Theory:-
\U0001f9f5@FlamingoTrader_
2โฃHow to find out high and lows of stock market by
Telling my 8 years of experience in 5 min. A thread on how to find out high and lows of stock market.
— W D Gann Trader (@Bjybnf) August 5, 2022
You May Also Like
I'm going to do two history threads on Ethiopia, one on its ancient history, one on its modern story (1800 to today). ๐ช๐น
I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. ๐ช๐น (sub-thread):
The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC ๐ช๐น
Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. ๐ช๐น
References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". ๐ช๐น
I'll begin with the ancient history ... and it goes way back. Because modern humans - and before that, the ancestors of humans - almost certainly originated in Ethiopia. ๐ช๐น (sub-thread):
The famous \u201cLucy\u201d, an early ancestor of modern humans (Australopithecus) that lived 3.2 million years ago, and was discovered in 1974 in Ethiopia, displayed in the national museum in Addis Ababa \U0001f1ea\U0001f1f9 pic.twitter.com/N3oWqk1SW2
— Patrick Chovanec (@prchovanec) November 9, 2018
The first likely historical reference to Ethiopia is ancient Egyptian records of trade expeditions to the "Land of Punt" in search of gold, ebony, ivory, incense, and wild animals, starting in c 2500 BC ๐ช๐น
Ethiopians themselves believe that the Queen of Sheba, who visited Israel's King Solomon in the Bible (c 950 BC), came from Ethiopia (not Yemen, as others believe). Here she is meeting Solomon in a stain-glassed window in Addis Ababa's Holy Trinity Church. ๐ช๐น
References to the Queen of Sheba are everywhere in Ethiopia. The national airline's frequent flier miles are even called "ShebaMiles". ๐ช๐น