I draw horizontal lines everywhere. All day – every day.
Seriously. If you track a given currency pair over time ( or stock, or any given asset for that matter ) time and time again you will see price move, then stall, move, then stall again. On any given chart/time frame you’ll see the exact same thing – over and over again.
As traders….we want to take advantage of the “long smooth stretches” where all we see are green candle after green candle uninterrupted by these dreaded “sideways sections” that plague our trading and grind our accounts.
Identifying them is half the battle. Staying away from them the other.
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