See how a professional trader using multiple trend lines in a chart and find out opportunities.
1. Here you can see two old trendlines are there and two new trend lines i.e. support & resistance line.
2. Price has been take support and resistance in different different position of the chart and if we join them then we can see a different trend channel in different angle along with previous one.
3. Trend channel already change few months ago i.e. new support line and new resistance line.
4. Now break in the upside direction.
5. So we can take position on direction of the breakout.
But my friends there is something more in this story,
Actually we can't recognize multiple support and resistance in same direction , that's why we can't draw trend lines there. Reality is there is the difference, between professionals and intermediate or beginners.
We have to look into the chart in different way all the time then you can see the chart differently or in professional way. In this chart the price already break the old resistance line and now it's break the new resistance line with big bullish candle. Also previous support and resistance line nothing but a symmetrical triangle pattern.
By using multiple trend lines you can see the different opportunity in different position of the chart and you have to choose the correct one which have highest provability to move the price in your way.
I know this concept is little bit complex but if you download this in your mind, in near future you will get the taste of success.