Drawing a perfect trendline on LTCUSDT and how to trade it

Hello, my good friends, I welcome you all once again to my blog. Still, on the trading aspect, I would like to share with you all one of the perfect strategies that I believe works perfectly till this moment.

If you have been following my blog, you will notice that I have always worked on analysis of the crypto market and how to make a perfect entry to minimize loss and maximize profit.

I have shared different strategies to this effect and I have also shared with us the results obtained sometimes when I apply these strategies.

I'm not saying that these strategies work 100% effectively but in most cases, they work well and I get good results from it. In today's lecture, I will be sharing the trendline strategies. This strategy is used by most traders out there.

For the sake of those who have no idea how it works or those who don't know much about it, this post will serve as a guide to lead you through the process of trading it. Before we dive into how to trade it let's know what it is first.

Trendlines are lines drawn on the chart to connect the wicks of the candles thereby giving the traders an idea of the next move of the market. For a trendline to be valid, at least 2 or more wicks of the candles must touch the trendline.

For a bullish market, the trendline is drawn below the candlesticks connecting the wicks whereas in a bearish market, the trendline is drawn above the chart.

In the above chart, the market has been making a series of higher highs which implies that the market is bullish. The trendline is drawn below the chart as seen in the chart. About four points touched the trendline which makes it a perfect trendline.

Now there are two possibilities for entry into the market. If the trend line is broken, then we will have to short the market but if the trendline is not broken then we will have to long the market. This means that if the trendline is broken, we will experience a trend reversal but if it's not broken we will see trend continuation.

Every trader needs to be aware of this to make good entry and to also trade in the direction of the trend. I have always told us that counter-trading is not an option that should be considered by anyone at all. So that is all you need to know about Trendline.

For more inquiries or contributions, I urge you to use the comment section below. Your comments and contributions will mean a lot to me as they will help me to improve greatly. Until then, I remain your tutor @simonnwigwe. Thanks for your time.

Disclaimer: ^{This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your research and consult a financial advisor.}