Lesson / WY-02-11
A trend describes the direction in which price continues to extend over a particular observation scale. An uptrend usually forms higher swing highs and higher swing lows; a downtrend forms lower highs and lower lows. Use endpoints already confirmed under the rules in Chapter 10. If the latest swing has not ended, describe price as attempting to extend. Do not incorporate a candidate extreme into the completed trend structure prematurely.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
7 lessons · Chapter contents
01Highs, Lows and the Rhythm of a Trend↗02Trend Lines and Channels: Uses, Drawing Rules and Limits↗03Support and Resistance: Zones, Boundaries and Tests↗04Initial Trading-Range Boundaries and Later Revisions↗05Breakouts, Breakdowns and Re-entry into the Range↗06Change of Behavior: From One Rhythm to Another↗07A Trend-Line Break, a Trend Stop and a Trend Reversal↗Observe the market: start with context and place price within its structure.
Understand structure: compare supply and demand, and let evidence support or revise your hypothesis.
Form a view: define risk limits and know when to reassess.
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