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Trendlines are a relatively simple tool that can be used to gauge the overall direction of a given asset, but, more importantly, they can also be used by traders to help predict areas of support and resistance This means that trendlines are used to identify the levels on a chart beyond which the price of an asset will have a difficult time moving. In the context of technical analysis, a channel is when the price of an asset is moving between two parallel trendlines. The upper trendline connects the swing highs in price, while the lower trendline connects the swing lows. Trendlines are a great tool, showcasing short-term trends within the overall trend. Pay attention to price action and always consider it when using trendlines. If the price makes lower lows and lower highs, it's still a downtrend even if the price moves above a descending trendline. If the price makes higher highs and higher lows, the price still has an uptrend even if it moves below the trendline. Today's E

It's a popular trading method and shows results (Profit or Loss) instantly. A breakout is a stock price moving outside a defined support or resistance level with increased volume. A breakout trader enters a long position after the stock price breaks above resistance or enters a short position after the stock breaks below support. Once the stock trades beyond the price barrier, volatility tends to increase and prices usually trend in the breakout's direction. The reason breakouts are such an important trading strategy is because these setups are the starting point for future volatility increases, large price swings and, in many circumstances, major price trends. A few pointers for Breakout trading: 1. TRADE BREAKOUTS IN THE DIRECTION OF THE TREND 2. WAIT FOR HIGHER VOLUME TO CONFIRM A BREAKOUT 3. ENTER ON RETEST OF SUPPORT OR RESISTANCE 4. TAKE ADVANTAGE OF VOLATILITY CYCLES 5. HAVE A PREDETERMINED EXIT PLAN 6. SAVE TIME BY SCANNING FOR BREAKOUT CANDIDATES

Dennis Gartman is the trader’s trader. He is up at 2 to 3 a.m. and  writes a daily letter (the eponymous The Gartman Letter) every  morning by 6 a.m. Eastern time, wherever he is in the world. He  analyzes the currency, commodity, energy, and metals markets, and  has been doing so for nearly twenty years. A wide range of people  read Gartman—the rich and famous, the small investor along with  staffers at nearly every major trading house and fund in the world.  His wisdom and insights are often seen on TV, and he is in constant  demand as a speaker at investment conferences. He has forgotten  more about trading than most people will ever know. He trades every  day, and his trades are on the record for all the world to see.