Tradingshiksha
Long

SIMPLE TRENDLINE BASED CHART

NSE:M_M   MAHINDRA &MAHINDRA
CHANNEL IS MARKED BY YELLOW LINES.
LOOK HOW BLUE LINE IS BEING RESPECTED AND ACTED AS SUPPORT FOR A BRIEF PERIOD.

FROM HERE THE SCRIPT WILL EITHER GO ON TO TEST YELLOW CHANNEL , BREAK IT AND MOVE AHEAD TO TEST GREEN LINES OR PRICE WILL TEST YELLOW LINE, FAIL TO BREAKOUT(POSSIBLE PROFIT BOOKING ON NIFTY ) RETEST (AND HOLD BLUE LINE) TO BREAKOUT IN COMING WEEKS.
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Thanks for this chart.... How have you added the blue line ?? I mean on what basis and what were there conditions for drawing the blueline ?? i can see that it is touching many lows.... What else is needed for that blue line to be plotted on those points itself ??

regards
Greg
Reply
@gregferns, Good question, will explain you on telegram.
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