The Canadian Stock channel (BNN) used to have a morning guy that had a great quote.
"A five year old with ruler can do this!" So why is it so hard?
Well, here's a chart the 5 year old would have done very well with.
The bottom line seems to be, when the trend line breaks, I should open or close my trade. Well this is the global picture. It helps you see the big picture.
It has hugged the line for a while now. I'll be respecting the breakout or continued support. We seem to be at the decision point.
Good Trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
Learn More
