Trendlines are not perfect tools...like all things we make some assumptions....some like to draw TL's on closing prices..
This particular TL you are talking about(marked 1); see it carefully it was initially made by connecting two peaks and then I had just extended it to the right...
Yes if one wanted to draw a short term TL...one could have drawn from july peaks...
Hi,
I am Manoj and I am trying to be an investor/trader with more emphasis now on investing side.This blog is an attempt to Discipline myself and also serve as my Diary, for recording what I call Ramblings Of An Insane Mind.Since learning is a never ending curve I intend to share my notes with friends who are interested and also would like to learn from others.The posts in this blog are nothing but notes I am making for myself.Nothing on this site should ever be interpreted as advice, research or an invitation to buy or sell any securities.
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2 comments:
Isn't trendline wrong.. it is not touching the tops made in July month.
Also on weekly charts it is making lower highs and lower lows
Achin Hi
Trendlines are not perfect tools...like all things we make some assumptions....some like to draw TL's on closing prices..
This particular TL you are talking about(marked 1); see it carefully it was initially made by connecting two peaks and then I had just extended it to the right...
Yes if one wanted to draw a short term TL...one could have drawn from july peaks...
Hope it helps...
cheers!!!
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