Upward Trendline

[Antho]

Connecting two or more ascending swing lows results in the creation of an upward trendline. It serves as a level of support and shows that the price is moving upward. This trendline can be used by traders to spot prospective buying opportunities or determine the strength of the upswing. How do you determine the validity and significance of an upward trendline?

 

[timepass]

https://www.traderji.com/community/threads/4xpipcounters-trendlines.52173/

go through this.

 

[Elektra-Greene]

Doesnt it have to be more than 2? because any 2 dots can be connected with a line, and it doesn't necessarily mean that its a valid trend line

 

[Starlin]

Trend lines are indicators that specify trends helping traders know the market trends and ranges. I prefer using this indicator as part of market analysis.

 

[Henson]

Trend line is drawn to identify whether the market is in an uptrend or downtrend. It is highly congenial in market analysis.

 

[Antho]

Doesnt it have to be more than 2? because any 2 dots can be connected with a line, and it doesn't necessarily mean that its a valid trend line

Right. Drawing a trend line between just two points may not always be a reliable indicator of a valid trend.

 

[Elektra-Greene]

Trend line is drawn to identify whether the market is in an uptrend or downtrend. It is highly congenial in market analysis.

actually, I use them to indicate a reversal rather than a trend! I wait for the price line to break my line and then i consider that the current trend is lost and a new one should be forming shortly

 

[nicholasbrownie]

So, the validity of an upward trendline is generally determined by the number of times the price has "touched" or "bounced off" the line without breaking through it. Usually, the more touches, the stronger and more significant the trendline.

 

[Antho]

actually, I use them to indicate a reversal rather than a trend! I wait for the price line to break my line and then i consider that the current trend is lost and a new one should be forming shortly

Your method of using trend lines to indicate potential trend reversals shows a keen eye for market dynamics.

 

[Antho]

So, the validity of an upward trendline is generally determined by the number of times the price has "touched" or "bounced off" the line without breaking through it. Usually, the more touches, the stronger and more significant the trendline.

I agree, more price touches on the trendline provide greater confidence in the trend's sustainability.