A Matter of Market Perspective - The Right Way

An Important Observation on Tech Chart Presentation & Analysis

As we came across with this chart, it is extremely noticeable that the diagonal line to project a US DOLLAR resistance level of exhaustion was not properly made. the same goes with the horizontal line that should have been drawn across without any obstruction. A valid line across the bars are used only to identify certain chart patterns that resembles from a valid true signal nothing more than what it is intended for. Yet, point well taken that the trading range has been established.

However, coming from a prominent technician / strategist this should be avoided. With all due respect, these publicly shared analysis carries a degree of misconception on the part of viewers who may also have a clear understanding of the market  Thus the market interpretation maybe considered ineffective to a certain degree of analysis.

NOTE: The name on the chart has been shaded to protect and not to discredit the author. But we just thought that it was deemed necessary for other viewers to be keen on their market analysis & chart lines to derived the RIGHT MARKET INTERPRESENTATION

Compare the above chart with MegaTrade101 Version which also includes the Linear Regression when applied at its current market condition appropriately well within their respective channel direction.