CHARTING - Redrawing your lines after a big move.....

Please feel free to tell me if there is a better place in the forum for this.....

So you have identified a chart pattern, let's say an ascending triangle. Like Etherium has one now for the last 18 months.
Everything is going to plan, resistance is being respected and higher lows are forming as time goes on.

Then one day it breaks to th downside, making your ascending triangle invalid...... until you decide to move your lines...

I was under the impression that there are certain rules to make it a valid pattern, in the ascending triangle chart patter for example it has to have at least made 2 taps (wick) or closes (bar close) along a set period of time for it to be valid, the more the better, and once these 2 taps/closes have been made then your lines are set in place..

Can anyone shed any light on this? I find it too easy to keep moving the lines and know it's not the right way.

Topic: CHARTING - Redrawing your lines after a big move..... (Read 38 times)