I am looking more at the bottem trendline and just use the upper
trendline as a guideline(parallel to the bottem line). Price move
in channels most of the time. I also put my stop a bit wider under
the trendline to give it room to move and only short if you get a
decisive breake of the trendline because what could happen now is
that it could form another channel supported by a lower
trendline.
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I am looking more at
$SPX30min
Posted by kobie on 27th of Sep 2010 at 08:10 am
I am looking more at the bottem trendline and just use the upper trendline as a guideline(parallel to the bottem line). Price move in channels most of the time. I also put my stop a bit wider under the trendline to give it room to move and only short if you get a decisive breake of the trendline because what could happen now is that it could form another channel supported by a lower trendline.