Hi Dunda2001,

Thanks for the comment I am glad you like the site and welcome to the community.

This is a good question and one that actually comes up quite often as different traders have different opinions on this. I tend to lean towards the school that sees technical analysis as a great tool which tells or gives me an indication of certain things about the market but not really an exact science. With this in mind I will generally use the highs and the lows to draw my trendlines however if there is a situation where the line "fits" better using the closing point of one of the candles in the trend then I am fine with using the close.

I do it this way because I find that trendlines normally fit the chart better when using the highs and the lows.

While I still use the highs and lows to draw my trendlines in this situation I do pay attention to the close on the daily chart for trendline breaks. If a trendline or support/resistance level is broken intra day but does not close above or below the line then I do not consider this a true break.

Like I say there are many different opinions on this so I encourage each trader to try out both and see what works best for them in different situations.

Hope that helps. If there are any other questions or if anyone else has anything to add on this one please feel free.

Best Regards,
Dave