What is the Trendline Theory?
A trendline helps technical analysts determine the current direction in market prices. ... If the analyst draws a line between all three price points, they have an upward trend. The trendline drawn has a positive slope and is therefore telling the analyst to buy in the direction of the trend.
Lets us understand how Trendline Theory works with the chart given below-
So as per the above theory-
The levels mentioned in the chart (powergrid) is considered to be the right entry point to take long position in the stock, also i have tried to identify the reversal point in macd and Rsi indicator in further support of the trade setup.
Do like and comment if you have any suggestion
...thanks
A trendline helps technical analysts determine the current direction in market prices. ... If the analyst draws a line between all three price points, they have an upward trend. The trendline drawn has a positive slope and is therefore telling the analyst to buy in the direction of the trend.
Lets us understand how Trendline Theory works with the chart given below-
So as per the above theory-
The levels mentioned in the chart (powergrid) is considered to be the right entry point to take long position in the stock, also i have tried to identify the reversal point in macd and Rsi indicator in further support of the trade setup.
Do like and comment if you have any suggestion
...thanks
Trade closed: target reached
