Hubert Senters here.
Let’s take a look at MNST. There’s an old saying if you don’t stand for something you’ll fall for everything. So it’s really important that you start putting a book of trading patterns and strategies and tactics together that you’re going to use over your career. The longer you’re trading so one thing trendline breaks right.
There are effective but don’t fit them to the market. What you want to do is you want to have a strict rule for them. I’ve seen a lot of people use trendline breaks but they’ll put so many dag on line, on their charts will course out there. You got 900 trendlines on it. So pick a percentage like this one this is a pretty good example of about a 45 degree angle.
Once it is broken you know that’s a really good breakaway to the high side. Now, I’ve seen people do them incorrectly like this where they will do something like this and go okay, you grab a trendline tool and you’ll say ‘’I’m drown from here to here to there to there’’ and then you’re like ‘’well, that that counts right.’’ That was a break down and up.
And then they’ll try to fit it up in here and then back in there. So once you start you need to keep it and keep it consistent and pick out what your percentage upgrade is. Are you looking for a 45? Are you looking for a 60? And just use that one angle on your trendlines so that you’re not just filling your market or your line to the market like it’s right here.
So if I started down here these aren’t touching that one is and this one is right. But if I started back here and that was my trendline I was going ‘’boom, boom, boom’’ right there. Well then you’d have to reset. So it’s really important. Once you do something you have to have a way to strictly calculate it so that you do it the same way over and over and over again.
Good luck. Hope it helps. I’ll see you on the next video.
Hubert.
