1. This trend line AB was the initial trend line.
2. In the pullback before this new trend high, price pushed
below the trend line AB. (Note the effectiveness of trend line AB
as a support level.)
3. The adjusted trend line AC contained all price action. Hence,
it was shallower.
There’s a point worth clarifying in the drawing of trend line AB.
It will help to drive home the trend line adjustment we are
talking about here. the first half is
enlarged.
July 7, 2022 2.7K 1
