Courses › BLT | Bank Level Trading
Rules & Techniques for Drawing Trendlines
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What this lesson covers
This lesson sets out the techniques for drawing trend lines and the patterns that take precedence when several are present. Three textbook patterns are the focus for entries: the parallel channel, compression and the wedge. Expanding patterns can be used, but they are treated as low probability and are not part of the core approach. The lesson works through each of the three in turn, showing exactly how the trend lines should be drawn, which points they connect and what to do when price makes the previous drawing obsolete. Consistency is the objective throughout, so that the same chart produces the same pattern every time regardless of when you look at it.