Trend line

How to Draw Trendlines and Channels - Price Action Analysis with Okane

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• published: 18 Mar 2016
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Visit us or read more on www.Binaryoptionsthatsuck.com and CommuniTraders.com In this video you will learn how to draw trendlines and analyze flag patterns. Drawing trendlines will give you more accurate entries and enable you to ride the trend on any timeframe! Sometimes price creates higher highs but at the same time also lower highs and higher lows. This is when we can use flag pattern analysis using trendlines. Find out more, further below! --------------------------------------------------- Traders are different, some like to focus on horizontal lines, you know, support and resistance lines. Others prefer trendlines. You can draw uptrendlines and downtrendlines in trending markets. Sometimes the Japanese candlesticks, the price, creates channels. A price channel is when you can draw two parallel lines from a starting point on the charts and clearly see at least 3 bottom points and 3 top points touching the lower and upper line. The more the touches the better confirmation, just like it is with drawing support and resistance lines. Trendlines can be drawn on all timeframes and therefore, you can for example observe a downtrend on a monthly chart but a strong uptrend on a daily chart! There are actually trends within trends. I call it an inception of trends! I have written an article in which I explain this phenomenon. Read it here: http://www.binaryoptionsthatsuck.com/using-the-daily-charts-trading-binary-options-with-high-accuracy/ In this video, I have also explained how you can identify and draw flag patterns using trendlines and support/resistance lines. The flag trendline patterns can also help you identify potential breakouts in the direction of the trend, you can see this in the video too. As I mentioned above, there are details to look for that indicate there is a flag, once you learn them, you can see them too, even without drawing the lines! Finally, I also show briefly how moving averages are good to use for trend analysis for beginners but if you learn to draw trendslines like I do in the video, you will have a better accuracy then moving averages! I would also like to add that it doesn't really matter whether you trade Nadex, Forex or binary options, these analysis will definitely help you understand what you see on the charts!