💥MISTAKES ABOUT HOW TO DRAW TRENDLINES! 🤔
Just now in the group, I saw everyone arguing about how to draw trendlines correctly!
👉One side is used to drawing trendlines with a thick line, going through the candle bodies, and not counting the candle wicks. This group believes that the price levels at the candle wicks show weak liquidity in the buying and selling zone, so they are not counted in the trendline.
👉One side draws trendlines with a very thin line, going through the peaks of the candle wicks. I know these guys often draw trends like this to scalp with limit orders.
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🤔However, in my opinion, neither of the above methods is wrong. Technical analysis (PTKT) does not have a holy grail, and there is no 100% standard to follow, only those who trade profitably are right. So arguing is quite unreasonable!
👉In essence, trendlines or resistance and support levels are just PSYCHOLOGICAL THRESHOLDS of price >>> At that position, the crowd will tend to sell more, or buy more.
And since it is a psychological threshold, there certainly cannot be a standard price for you to draw the trendline accurately. Remember, resistance or support is an AREA, not a POINT! 👍👍
How do you usually draw trendlines? Just comment for everyone to refer to!
