How do you draw on charts to find their trading range?
October 22nd, 2008 | by Adam |
hondacivicex92 asked:
I am trying to draw charts to find their trading range. What is the difference in using 6mo, 1 yr or even a 5 day chart? How do I actually draw to find the range? Thanks!
I am trying to draw charts to find their trading range. What is the difference in using 6mo, 1 yr or even a 5 day chart? How do I actually draw to find the range? Thanks!
One Response to “How do you draw on charts to find their trading range?”
By guptatrigon on Oct 25, 2008 | Reply
To draw the range, you need to connect the highs togeter to find level of resistance and then lows to find level of support.
This range between level of resistance and level of support is the trading range.
The idea of using differnt duration charts to find the direction of market in long term and shotrt term. So, if the long term chart is pointing upward, enter the trade when shorter term chart is also pointing upward.
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