Claws, what Burak has drawn is perfectly acceptable to his methodology. His site is Trading Channels. The two points are on top, and he has created the channel line below, and, has put a question mark on it. Price did it previously on that chart, multiple times. 8/5/19
I usually space the third line so that it is the same distance apart as the first two lines. Without two bottoms to draw a line from and too there really is no advantage in drawing the line. Yes, a bounce is possible but without a confirmation it isn't worth trading. 8/5/19
Many of @MovinFwd methodologies don't require confirmation. But they're proven methodologies. But you definitely need two points to draw a line. 8/5/19
No I don't need two points to draw a line. I only need one point. In fact I don't need ANY points to draw a line. Anyone can draw a line any where they want on a drawing. Price is either going towards it or away from it. Up or down. That's what the market does. It goes up and down. lol. 8/5/19
I never had so many comments on any of my charts here on Slope. It's a potential support, hence the question mark. I would watch it carefully to see a bounce there and buy it only if a channel from the recent highs breaks to the upside following that bounce. That channel is not shown here. In short, I wouldn't buy it blindly. 8/6/19