This is the Third lesson in our Basic Price Action Trading Course series.
In this lesson, Let’s discuss about Trendlines also known as Parllel Support and Resistance Zones.
Trendlines or Parallel Support and Resistance zones are subjected to a lot of debate. Each trader draws the trendlines according to their own logic and understanding. In this video, we are going to use a simple technique to properly identify and mark the Trendlines or Parallel Support and Resistance zones.
After going through the video, you’ll come to know the precise method of drawing them. As a Price Action trader, it is not only important but super necessary to understand the Trend lines or Parallel Zones to spot good trades.
Important Topics covered in the Trading Lesson
1. Trend Lines | 2. Parllel Support and Resistance Zones | 3. When not to Draw Horizontal Support and Resistance ?
Test your Knowledge
1. Here’s an Assignment on Parallel Support and Resistance Zone :
Have you gone through the Video ? After Completely going through the Video, Take this Assignment to Test your Knowledge.
Choose a Stock, Index, Commodity or Currency chart that is moving in a directional way. Make sure the instrument you’ve chosen is either moving upside or downside laterally. Then use the Swing points to mark the Parallel Support and Resistance zones or Trend lines. Notice how the Price action is reacting to it in real-time.
If you’ve have any questions or queries, Leave it in the comments. I am more than happy to discuss…
Previous Lesson – Lesson 2 | Support and Resistance to Find Profitable Trading Setups
Next Lesson – Lesson 4 | Don’t Use Candlestick Patterns! Do this Instead
