does anybody draw trendlines on indicators like cci or rsi?
lately ive been doin so as extra confirmation for my system. not that it needs extra confirmation but theres no harm in learning a different way to trade
i attached a trendline break on 55 cci
basically the way i draw em is i find 3 points where the trendline has touched and then i wait for action the next time the indicator gets close to the trendline.
if it breaks up and holds then ill buy
if it breaks and then goes back then ill sell
if it bounces then ill buy
and obviously vice versa
here the gbpchf 1h
there were about 4 points where the trendline was touched then we had a trendline break(also a zero line cross which is a famous woodies cci system pattern)
after the break the cci moved back up to touch the trendline then it went down. when the cci moved back up to touch the trendline that would be the ideal time to short.
i feel like i should be posting this in the trading systems section but im really not sure as im not really describing a system but more like showin how i do somethin(trendlines) and im very inexperienced at it too.
i dont know if the mods feel like this should be in the trading systems then please feel free to move it there.
just wondering if others do this sort of trading
lately ive been doin so as extra confirmation for my system. not that it needs extra confirmation but theres no harm in learning a different way to trade
i attached a trendline break on 55 cci
basically the way i draw em is i find 3 points where the trendline has touched and then i wait for action the next time the indicator gets close to the trendline.
if it breaks up and holds then ill buy
if it breaks and then goes back then ill sell
if it bounces then ill buy
and obviously vice versa
here the gbpchf 1h
there were about 4 points where the trendline was touched then we had a trendline break(also a zero line cross which is a famous woodies cci system pattern)
after the break the cci moved back up to touch the trendline then it went down. when the cci moved back up to touch the trendline that would be the ideal time to short.
i feel like i should be posting this in the trading systems section but im really not sure as im not really describing a system but more like showin how i do somethin(trendlines) and im very inexperienced at it too.
i dont know if the mods feel like this should be in the trading systems then please feel free to move it there.
just wondering if others do this sort of trading
Attached Image