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How to Draw Charts: Trend Lines for Beginners

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Text Comments (240)
cnoz by4b (47 minutes ago)
Love your work mate thank you
Haroon Siddiqui (2 days ago)
Great video. How come you use wicks for support/resistance now but bodies for trend lines in this video?
aaa2782 (2 days ago)
Omg I am going to be financially independent thank you so much
Miklevey (2 days ago)
Thanks man. I am still struggling to find entry points that makes sense. Can you do a video on choosing entry points?
Rudolf S (2 days ago)
Not bad, have you followed the RULE? A trendline is drawn by the reversal points which is HIGH and LOW. Connecting the body's extremes is wrong as it does not comprise a good deal of the trend's data/prices and returns lines that are not the same once you change the time-window - plus, f.i.: an uptrend defines itself by means of lows, higher ones consecutively, why not connect them? Honma would have advised you the like. If you do otherwise, whipsaws are not uncommon. Mbr, Robert Schittler
pepitoaus (3 days ago)
Thanks Dan, great video! Would be great to know more about when to use the log scale vs percentage scale and in what timeframes they should be used. Also, in the case of altcoins, when do you confirm a trend reversal as often a breakout occurs in BTC pairs but not yet confirmed in Usd pairs. Cheers!
Ken Mourning (5 days ago)
Nice video
Pankaj Joshi (5 days ago)
Nicely Explained
Virg (8 days ago)
Hi Dan. Great content, thanks. I realize this is an old video, but wondered if you could take a look at these long-term Bitcoin trend lines and have your thoughts please. First, 2013 - 2018 weekly. Second, zoomed to show 2018 weekly. https://www.tradingview.com/x/wfQNSB36/ https://www.tradingview.com/x/27BT99kC/
DudeOfTheWeek (8 days ago)
What is a good program to use when drawing charts and trendlines? Like the program you are using in the video. Thanks in advance!
DudeOfTheWeek (8 days ago)
Thanks alot!
TheChartGuys (8 days ago)
www.tradingview.com
Robert K. Klopp (8 days ago)
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Jonathan Bedeau (10 days ago)
Wow absolutely nailed that video i feel fully trained now. Thanks heaps
David Lopez (11 days ago)
The most phenomenal video on trend lines i’ve seen so far. Thank you for your valuable content. It’s very obvious you’re a highly skilled technical analyst. 🙌🏻
Tibor Frei (12 days ago)
very good vid, thanks a lot!
GNZ GNZ (15 days ago)
Thanks Dan. Awesome work much appreciated.
Nicolaus Isco (16 days ago)
In a downtrend do you only count the green candles touching and in an uptrend only the red? You mentioned it once by starting in with a green candle on a downtrend but then it seems random
Phillip Zhong (18 days ago)
How much money have you stolen?
Old Fart In Crypto (18 days ago)
You appreciate it, I appreciate you , I have learned leaps and bounds by you, and enjoy all the footage from your trips, the animals, and your bubbly way! Thanks Dan for your dedication, the human aspect !
Mohammad Alamin (18 days ago)
Finally I got you buddy... Thanks!
Bibhu Datta (18 days ago)
nice explanation on trend lines..what should be the time frame to draw this trendline for intraday trading?
Greg Sommer (18 days ago)
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Kelly Fleming (20 days ago)
Practically speaking, how do you draw lines on the charts in the first place? Do you have to screen grab (ie from your investor account )then convert every screengrab into a jpg and work with it in adobe? Thank you!
Nelson George (22 days ago)
Very good explanation bro. Thanks!
BJ Isaac (25 days ago)
This video is 👍🏾👍🏾👍🏾
Crypto For the Classes (25 days ago)
Beware when doing this in cryptocurrency always keep in mind when entering alts before a breakout keep a eye on bitcoin. Most of you guys will get me.
Dushyant Shrimankar (1 month ago)
The best video i have seen so far for trend lines. Also the explanation was superb. Speechless about this video it helped me a lot..great great great work ...:)
Abra Kadabra (1 month ago)
Thanks!
cryptomason 17 (1 month ago)
Top stuff my friend, thank you for making clear identifiable trend lines, I will be watching it a few times till my mind is locked in.
Nugroho Nugrif (1 month ago)
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Dylan Hughes (1 month ago)
So descending you always draw from the top ascending is drawn from the bottom?
Kerrie Jaxon (1 month ago)
Great video! Very educational. Thank you for sharing 😀👍
Alex Vanbrugge (1 month ago)
Great video mate 👍
Tim Jong (1 month ago)
💯
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Kishore G (1 month ago)
Wow, chart looks exactly like present :O
WEEKLY FAILS (1 month ago)
i love you
Heto Elench (1 month ago)
your a real deal thank you
Akpos Yemi Ejumudo (1 month ago)
For me this explains all I've been looking for on how to draw trend lines. You're a good teacher. Thanks.
Robert a (2 months ago)
WRONG! Never ever draw a trendline across candlesticks bodies, forcing them to fit your market. EVER!!
Keith Burtis (2 months ago)
Thanks Dan, this will help me stay consistent and help me break some bad habits I didn't really know I had.
oooodaxteroooo (2 months ago)
this idea of at least three touches in a trend line is pretty silly. cause another school that for me personally worked very well, is that a trend usually hold on first touch (i.e. the third point) and very often breaks on second touch (i.e. fourth point). so, good luck finding a four point trend line, that you want to use for anything but watching for a reversal :) the gold example is perfect, if you consider close price only. third point: perfect short - fourth point: reversal. on tesla, you made a mistake. its actually two trendlines. one faster, one a little slower. the first one broke on fifth point, the second on fourth. so... no mystery there. in fact when you look at dec '16 to jun '17, you see that there is THREE trends, one slower than the other and all three of them behave similarly. https://ibb.co/cSDHD9 and with all due respect - its rubbish to tell people to draw their trend ilnes whichever way they want: close or low/high. what matters, is what the majority does and afaik, the use low/high.
Cassien KIKI (2 months ago)
this video is impeccable. has gotten the trend lines drawing clearer than ever before. Thanks sir. I have gotten a question though: how odd is it to get the trend lines (uptrend and downtrend) to be same slopped ? I mean both of the trend lines slopping downward with one just being flatter than the other ? Thanks
Nayan (2 months ago)
Does these things are valid on other markets to like asian markets? nOob here
Polyrytmi (2 months ago)
subbing!
Old Fart In Crypto (2 months ago)
Thanks so much very educational, Chart Guys are great!
CSG7Deuce74 (2 months ago)
This video was the best. It's well worth the 45 minutes. I've gained so much knowledge. It's so much clearer now
Adi Ep (2 months ago)
👍
Jack Veekan (3 months ago)
The video tutorial on implementing the *Lukka Binomial strategy* forex left me totally speechless. I've known some hotshot traders during my time within investment banking, but you're a cut above. The best thing though is how simple and easy you've made it for normal folk to get to grips with and trade forex for themselves to make so much money. Guys search for the *Lukka Binomial strategy* online for more information.
salman abu alsameed (3 months ago)
thank you
salman abu alsameed (3 months ago)
Through my short experience in such like it may breakout the trend line and reverse back above the rend line , how to avoid such move
salman abu alsameed (3 months ago)
how to identify the break out before or on early hours on , if we on 1 hr chart?
salman abu alsameed (3 months ago)
what if 1 or 2 dandwls close below the trend line , can i consider the trend is still valid?
salman abu alsameed (3 months ago)
why you taking the boody and NOT the wicks?
Harsh Shah (3 months ago)
Which book/course would you recommend for learning more about technical analysis?
Life know Everything (3 months ago)
fantastic , god bless u
tarnaka504 (3 months ago)
please post "how trade triangle chart patterns"... thanks in advance.
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Oscar J. (4 months ago)
bro thank you so much! This is great help
Cássio Mori (4 months ago)
At 20:00 there is a green candlestick right in the middle of the trendline that is closing above it. It is closing at around $55.20. Why was it not considered when drawing the trendline?
Josh Blade (4 months ago)
I’ve been looking for this question to be answered for a long time.
Evans Everest (4 months ago)
Pls what's the setup for this chart? I understand trend line easily now.
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Casey Sexton (4 months ago)
Do you see any advantages of trading on the one minute instead of five, for say two hours. Scalping as much as possible on each spread no matter how small?
Delman (5 months ago)
Thought as much, 21 nov 2016 candle broke out, that would not formed yet at the time, you would gone body of 18th nov 2016 off of the highest body close on 20th Nov 2016 and the third one broke out, so would been a buy... had I done first one off body and off top wick on 20th nov one, would been fine and wicks to wicks also fine... This is why, bodies do not always work either... Now you will say, well can wait for confirmation, yes if get one, some times gets lots reds on heiken ashi on reit stocks, then lots of greens, in other words, do not get 7 reds heikens ashi candles down, 2 greens up and then back test confirmation 2 reds, setting higher low and off you go, buy next green heiken ashi close in line with other indicators... So, yeah, see.... oh dear :(... just not that easy... glad spotted that almost had me convinced for moment, yes he uses candles, and think Grok, kind of does as well, sort of, so I'll do it then from now on, huge mistake there on that one...
Delman (5 months ago)
Other ones is the same, breaks out on 15th Nov 2016.. if take candle bodies from green ones, yes I'm on normal candles, first one is 13 nov 2016 then next two green ones, goes green red green red green, but either 2nd or third green line off of those bodies would given you break out above the line on last green candle on 15th Nov.. BUT guess why would not have bought it, his the middle bollinger band and stalls, the 20 moving average... So yes need to look at other things also..
Delman (5 months ago)
Accpt 16 minutes whatever seconds in, drew that second one xau on 4 hours, from first to last green body candle, in real time, back then, would been middle green body close candle, putting the third one likely just slightly above, many would bought there.. Trouble is, can get on normal candles, find it not so on heiken ashi, guess cause gets you in day later, but often get close above, swing traders buy, then next day comes back below trend line again... they oh no, false break out you say... I'd have to go look at this time period myself, if can find it to see if I'm right.... Easy when back testing, same with regression channels oh I'd bought there, at bottom, then green heiken ashi candle after it, NO you wouldn't, because at the time, did not have the channel defined, oh, oh... Pitchforks, yes they can help, love them, define a line for you, trouble, wicks, or bodies, or the lowest or highest lowest close, so on, confused, you should be.... So yeah, nightmare... Best thing, take a chance, but you buy 5 shares in apple in case goes wrong, not 20 shares... Learned my lesson, going back to old ways, might not make much, but when it goes wrong, now can average down and do it again, and when got certain other things, volume weight moving averages that backed tested give you 80% or whatever it is on that particular stock, closes above, and on apple 86.49% that goes higher the next day, then can use macd and other things 25 lrc line and so on... Giving me an edge... so make few bucks, but better than losing... Last year only made few k, but lost only $107, this year make $500, losing $400 odd not my idea of fun, market has changed, I learned lesson and going back to more cautious..
Delman (5 months ago)
xyz at $30, I'll but 100 shares, yay, 80% on most tested indicators, that 5 moving average one gives this xyz 83%, cool, $3000, no worries... Next DAY, WHAT THE HECK GRRRR TRUMP TWEET no way, down $1 wow, crap, down $100... Old way... lets do 25 shares, phew only down $25... I'll wait now, sure enough bottoms at $28.00 I buy but now I buy 50 shares, cause signals same again, and can't be bothered to work out but say average now is $28.55... In my account, changed to last in first out... So if only goes up to $28.50 and reverses I can sell the 50 shares at say $28.40 and take 40 cents on the 50 shares, not including my fee on this one, pretend on robinhood app... made $20, and orignal 25 shares I'm back to $30.... However lets say does the 50% retracement, so $30 to $28, back to $29... I seel there... made $33.75... Trust me, usually make few bucks, so this to me, not bad... lol, ok, sure had it gone right.... hit $31, you get $100, I only get $25, who cares, thankful to God, not greedy, I made.... But if went wrong, unless you rich, you be down $100, me only $25... I live to fight another day, you have to likely sell and write if off, ouch... I hate losing money, who doesn't... So playing safe in future and some of the stocks are ones I might already own shars in collecting dividends, so get more money monthly or quarterly that way while waiting to get out.. SNH, CPSI, stuck for 13 months, but got out, doing just this method... NEVER go all in, or over the top, if can afford to buy 50 shares in apple, but 5 instead, goes wrong, not hurt, goes right, unlike me, try holding for longer than next day, lol... :)..
Delman (5 months ago)
I use fractal lines as well, and so yes they do go through other candles, but beauty is, often later respected.... Guess so much can use, pictforks, bollinger bands, regression channels and, gosh, have, max allowed 10 on my trading view charts, lol, crazy I know.... :).
Delman (5 months ago)
so you do bodies, some do wicks, as I prefer, kinda, and theh have Grok who does them, well, hmm, go see, Forward to 1 min 25 seconds https://www.youtube.com/watch?v=DUWIfUO_644 claims it works for him, so.... I'm experimenting now also... Cause doing pitchforks, well, makes it hard, so I just to the wicks, but mostly only month to week, and then set on day, if I do any on day, I'll go set the forks to the 1 hour... But median line some times, well, like I say, not easy...
DEEPAK DHOK (5 months ago)
Really , this is amazing video. It makes very easier how to draw trend line.
Vincent Onyekwelu (5 months ago)
Great work...however, at 20:00, the downward trendline drawn shows a bull candle closing above the line...and he was clearly saying "there is no candle closing above this line". Can Chartguys explain this pls.
Alessio (5 months ago)
Great video, with great audio, nice and clear voice. Explanation are simple to understand and explained very well.
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Thomas Lovell (5 months ago)
Thank you for this. It's very clear and easy to understand.
Tholithemba Ntsele (5 months ago)
9:43 well i use wicks and i wait for a solid break (break & close above) then pullback, to enter the trade. Wicks contain a lot of price action on lower time frames, take for an example Monthly vs H4 charts.
Roboman Robo (5 months ago)
Excellent Excellent Excellent ! Video ! Great JOB! Just subscribed for more :)
Hassan Mirza (5 months ago)
Very nicely articulated. Smart but simple to understand :)
Justin Lucas (5 months ago)
Very glad to have trend lines explained in a way that is not vague. I feel like so many videos just leave you with this ambiguous feeling after showing their trends. Thanks!
Christopher Payne (5 months ago)
Thanks man! Nice video!
jkenndy36 (5 months ago)
Is there a video on where they teach you how to draw the trend line and they "pick " when to BUY and SELL. All the videos I've watch are all the same. They teach you HOW to draw it but they never pick a number after they drawn it. That where I'm confused ☹. Can someone please help.
Kha Sa (5 months ago)
awesome video:-) When you have a downtrend and a red candle sticks a bit out.It Does it stille give the correct picture? It appears on the Nike stock
Akpos Yemi Ejumudo (1 month ago)
+TheChartGuys but there's a close above, at the middle of the trend line.
TheChartGuys (5 months ago)
Thanks, yes as long as no close above the trend line.
Oddvar Olsen (6 months ago)
More lessons please ;)
Jim Rusak (6 months ago)
Great video! Thank you.
wipul chandra Victor (6 months ago)
great presentation easy to understand
Cherry Lam (6 months ago)
Please send me lesson 1 video how to use inside bar? Thx
crude oil success (6 months ago)
Friends learn to trade by candlestick move...........no need of indicator, moving averages, mathematical calculations...if you learn you will be free from financial.
Vijay Chavda (6 months ago)
Thanks Friend...
Ivan Castano (6 months ago)
This stuff is no cheesecake for beginners... Yes, much practice is needed to pick these up intuitively after a while but do you offer any coaching on these trend lines as part of the monthly membership?
Ivan Castano (6 months ago)
minute 20:07
Ivan Castano (6 months ago)
in 2007 i see candlesticks closing above the trend line but I don't know, maybe I am blind.... Any resources to deepen my understanding of chart drawing?
Ivan Castano (6 months ago)
in minute 1401 why are you drawing the trend line above the candle stick close? I thought it had to be exactly at the close and here it looks nearer to wick's close than the actual candle body.
9lordo (6 months ago)
thank you Dan :)
Rene (7 months ago)
very well explained, wonder if that nike chart played out bearish since i was told ascending wedges and steady resistance is a bearish indicator. anyways thank you for this video, keep up the good work
Kamala Kannan (7 months ago)
Gr8 video sir Can we use this pattern to day trade? Where to fix the target and stop loss?
Manch0vy (7 months ago)
What a great video. Going to watch again...
Bosi Malkia (7 months ago)
Thank you. Very much needed. Simple
ZZ ZZ (7 months ago)
his lips were moving faster than the chart lines and if you listen to what he was saying about the lines, he didnt follow through with his criteria for drawing lines, sorry but if you are going to teach people how to draw lines make sure follow through, most of people have no clue about the errors that were made but few did, kudos to them
Ron DR (7 months ago)
On trendline, how many days or months do you draw chart from - to date of??
TheChartGuys (7 months ago)
Time is not a factor, touches is the most important factor. Need 3 to be valid.
Drygord Spellweaver (7 months ago)
Hi: which direction does price normally break out of ascending/descending wedges/triangles/penants? And how would you tell, thanks
Kasper (7 months ago)
20:00 yes there is, isn't there? In the middle there's a green candle closing above the trend line.
Waal Straater (7 months ago)
Do you use Semi-Log or Arith? Does it make a difference?
1930 Vassar Manager (7 months ago)
thanks for this video, you have a great talent for making tech analysis understandable
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