Trend lines can be used to identify and confirm trends. A trend line connects at least 2 price points on a chart and is usually extended forward to identify sloped areas of support and resistance. Lines with a positive slope that support price action show that net-demand is increasing. As long as the price action stays above this line, we have a bullish trend. Lines with a negative slope that act as resistance to the price action show that net-supply is increasing. As long as the price action stays under this line, we have a bearish trend.
Price usually retests a sloped trend line several times, until it breaks at which point we may have a trend reversal. The more points there are to connect, the stronger a trend line becomes. Different strategies have different rules on how far apart connected price points can be and whether to connect wicks or candle bodies, but all trend lines break eventually. TradingView has a smart drawing tool that allows users to visually identify trend lines on a chart. This tool can also be used to illustrate trends on indicators.
Hi all, CNXIT will move one more upside look for breakout of trend line
Entry 16197
Exit 16085
Take Profit 161485; 16625
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--Prabhu Rajarathinam
Hi all, GRAPHITE looks completed it's ABC expanding structure We can look for long bias unless until it's break previous low
If you have any Question feel free comment below and if you agree with my ideas let me know by your likes else comment below
Thank you for your support
--Prabhu Rajarathinam
At Support Zone of Year.
Risk Reward Favourable.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Finacial Advisor.
Hi all, Gold is making of c wave structure look for breakout to the upside.
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade
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--Prabhu Rajarathinam
Hi all, tataelxsi can make one more upside also H1 made pinbar confluence
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade
If you have any Question comment below
Thank you for your support
-PR
Technical: Strong breakout Awaiting
After a breakout from a downward trend line, it strongly went up and then consolidated for a while, now it is showing sign of breaking the strong consolidating, which may take the prices further up to the range of 650-750 levels, with stops at 500.
Fundamental: Undervalued
Market Cap: 1600 Cr.
P/E: 6.2
Debt to Equity:...
After Breaking the 9 year long range, it has been following the trend and has always made its trend line the support.
If it again takes the trend line support: enter for those who are looking to enter the stock.
If it breaks the trend line support : Exit for those already in the stock.
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