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...
We have seen inverse head & shoulder pattern on daily chart of Hind petro share. A very high probability setup to take long entry. Buying range are given in the graph. RSI above 60 forming +ve divergences. Good risk to reward trade. This is for your educational purpose only.
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This stock being low in value will give profit or loss on high volume trading. So those who pay high brokerages should either trade in higher volumes to cover brokerages out of their...