How to Use Trendlines for Placing Orders

Tips for Using Trendlines

Drawing Trendlines

• Drawing an uptrend line: Connect a series of low points
• Drawing a downtrend line: Connect a series of high points

Usage of Resistance and Support Levels

• An uptrend line is usually used as a support line, and the price may bounce back up after touching the trendline
• A downtrend line acts as a resistance line, and the price may further decline after touching the trendline

Breakout Usage

• If the price falls below the uptrend line, the uptrend may reverse into a downtrend
• If the price rises above the downtrend line, the downtrend may reverse into an uptrend

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