Intermediate 📖 20 min read 📚 Chapter 4 of 8

Trend Lines & Price Channels

The most basic yet powerful tools in technical analysis. Master the art of drawing trend lines that actually work - and trading the channels they create.

Intermediate Course
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What Are Trend Lines?

A trend line is a straight line that connects two or more price points and extends into the future to act as support or resistance. It's the simplest way to visualize and trade with the trend.

The Core Principle

Markets move in trends. Trend lines help you:

  • Identify the direction of the trend
  • Find entry points within the trend
  • Recognize when the trend is ending

Two Types of Trend Lines

📈 Uptrend Line (Support)

Connects higher lows

Drawn below price action

Acts as dynamic support

Price bounces UP from the line

📉 Downtrend Line (Resistance)

Connects lower highs

Drawn above price action

Acts as dynamic resistance

Price bounces DOWN from the line

💡 Why "Dynamic"?

Unlike horizontal support/resistance that stays at one price, trend lines move with time. A support level that was 1.0800 yesterday might be 1.0820 today if the trend line is rising.

How to Draw Trend Lines Correctly

Most traders draw trend lines wrong. Follow these rules for lines that actually predict price movement.

🏆 The #1 Rule

A valid trend line needs at least 2 touches, but 3+ touches make it significantly more reliable.

Step-by-Step Drawing Process

1
Identify the Trend

Is price making higher highs/lows (uptrend) or lower highs/lows (downtrend)?

2
Find the First Point

For uptrend: the significant low where the trend started

For downtrend: the significant high where the trend started

3
Connect to Second Point

Find the next significant swing point that respects the trend direction

4
Extend the Line

Project forward to see where future price might find support/resistance

5
Wait for Validation

The third touch confirms the line is valid and tradeable

Wicks vs Bodies: The Debate

Connect the Wicks

  • Shows exact price extremes
  • More precise entries
  • Can result in more "false" breaks
  • Preferred for: Day trading, scalping

Connect the Bodies

  • Shows where most trading occurred
  • More "forgiving" levels
  • Fewer whipsaw signals
  • Preferred for: Swing trading, position trading
Our Recommendation

Use wicks for the initial drawing, but allow for a small "zone" around the line rather than expecting pixel-perfect touches. Markets aren't that precise.

Validating Your Trend Lines

Not all trend lines are created equal. Here's how to know if yours is worth trading.

Strength Factors

Factor Weak Line Strong Line
Number of Touches 2 touches 3+ touches
Time Frame 5-minute, 15-minute 4-hour, Daily, Weekly
Age of Line Hours old Days/weeks old
Angle Very steep (>45°) Moderate (25-45°)
Touch Spacing Clustered together Well-spaced apart

The Angle Problem

⚠️ Steep Trend Lines Don't Last

A trend line at 60° or steeper is unsustainable. Markets can't maintain that pace. These lines will break - it's just a matter of when.

15-25° Slow, sustainable trend - can last months
25-45° Healthy trend - ideal for trading
45-60° Aggressive trend - watch for exhaustion
60°+ Parabolic move - will break soon

When Trend Lines Break

A broken trend line doesn't always mean reversal. Here's how to interpret breaks:

False Break (Fakeout)

  • Price briefly pierces the line
  • Closes back on the original side
  • Often traps breakout traders
  • Wait for close beyond line before acting

Valid Break

  • Price closes beyond the line
  • Often retests the broken line
  • Old support becomes new resistance (and vice versa)
  • Volume typically increases on break

Price Channels

A channel is formed when you add a parallel line to your trend line, creating a "tunnel" where price tends to move.

Channel Structure

Main Trend Line: The primary line connecting swing points
Channel Line (Return Line): Parallel line on the opposite side
Channel Width: The distance between the two lines

Types of Channels

📈 Ascending Channel

Both lines slope upward

Buy at support (lower line)

Take profit at resistance (upper line)

Bias: Bullish until lower line breaks

📉 Descending Channel

Both lines slope downward

Sell at resistance (upper line)

Take profit at support (lower line)

Bias: Bearish until upper line breaks

↔️ Horizontal Channel (Range)

Flat parallel lines

Buy at bottom, sell at top

Wait for breakout for trend trades

Bias: Neutral until breakout

Drawing the Channel Line

1
Draw the Main Trend Line First

This is your primary reference - get it right

2
Find the Opposite Extreme

Locate the highest high (for uptrend) or lowest low (for downtrend) between your trend line touches

3
Draw Parallel Line

Copy the angle of your main line and place it through that extreme point

4
Validate

Check if price has respected this channel line at least once

💡 Pro Tip: Channel Tool

Most charting platforms have a "Parallel Channel" or "Equidistant Channel" tool that automatically creates the second line at the correct angle. Use it to save time.

Trading Strategies

Strategy 1: Trend Line Bounce

📈 Buying the Bounce (Uptrend)

Context: Price in established uptrend, approaching trend line
Entry: When price touches trend line + bullish candle pattern
Stop Loss: Below the trend line (+ buffer)
Take Profit: Previous swing high OR channel line
Example:

EUR/USD uptrend line at 1.0850. Price pulls back to 1.0855, forms hammer candle.

Entry: 1.0860 | SL: 1.0840 | TP: 1.0920 (previous high)

Risk: 20 pips | Reward: 60 pips | R:R = 1:3

Strategy 2: Channel Trading

↕️ Trading Within the Channel

At Lower Channel Line (Support):

Look for buying opportunities. Target the upper channel line.

At Upper Channel Line (Resistance):

Look for selling opportunities. Target the lower channel line.

Middle of Channel:

No trade zone. Wait for price to reach a boundary.

⚠️ Important

In an ascending channel, favor longs (bounce trades have higher probability). In a descending channel, favor shorts. Don't fight the main trend.

Strategy 3: Trend Line Break

💥 Trading the Breakout

1 Identify mature trend line (3+ touches, weeks old)
2 Wait for decisive break (candle closes beyond line)
3 Wait for retest (price comes back to test broken line)
4 Enter on rejection (confirmation candle at the retest)
Example - Uptrend Break:

Long-term uptrend line breaks. Price drops below, then retests the broken line from underneath.

Old support becomes new resistance. Sell the rejection with stop above the line.

Combining with Other Tools

Trend lines work best when combined with other analysis:

+ Candlestick Patterns

Wait for reversal candle at trend line touch

+ Support/Resistance

Extra confluence when trend line meets horizontal level

+ Moving Averages

Trend line + MA alignment = strong confirmation

+ RSI Divergence

RSI divergence at trend line = high probability reversal

Common Mistakes to Avoid

1

Forcing Lines to Fit

If you have to stretch or adjust multiple times, the trend line probably isn't valid. Let the market show you the line - don't impose your view on it.

2

Using Only One Timeframe

A trend line on the 15-minute chart means nothing if the 4-hour shows a different picture. Always check higher timeframes for context.

3

Ignoring the Break

When a trend line breaks, don't hope it comes back. The line has lost its validity. Remove it and wait for a new structure to form.

4

Too Many Lines

Chart cluttered with 20 trend lines? You've lost the plot. Keep only the most significant, most-tested lines. Less is more.

5

Trading First Touch

Two points make a line, but it's speculative. Wait for the third touch to validate before risking real money on it.

6

Forgetting to Extend

Trend lines project into the future. Extend them to see where upcoming support/resistance might occur.

Key Takeaways

1

Uptrend lines connect higher lows (support), downtrend lines connect lower highs (resistance).

2

Minimum 2 touches required, but 3+ touches make a trend line significantly more reliable.

3

Steep lines (>45°) don't last - they will break. Trade with caution.

4

Channels are parallel trend lines - trade bounces between them, with the main trend.

5

Broken trend lines often get retested - wait for the retest for higher probability entries.

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Support & Resistance

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Moving Averages

The indicator that started it all. Learn MA types, crosses, and dynamic S/R.

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