Hello David,


I was taught by someone about FOREX Range-Bound trading which is trading within the channel.

My problem with this is that I don't know how to properly draw support and resistance trend lines.

Here are my questions:

1.) In a bullish trend of a candlestick chart should I draw the support line along the LOW wicks of the candlestick and should I draw the resistance line along the HIGH wicks of the candlestick?

2.) In Range Bound Trading should the support line and resistance line always be in parallel? What will happen if in an uptrend the resistance line is in a different angle than that of the support line?

3.) In Range Bound Trading is it recommended to use a combination of trendline analysis and MACD?

4.) What is DeMark Trendline? How do I draw it? Is it recommended in Range Bound Trading?


Thank you very much.


Regards,
Jeff