Internal Trendlines
posted under
Philosophy of Technical Analysis
by ceecabolos

These are variations of the trendline that don't rely on extreme highs or lows. Instead, internal trendlines are drawn through the price action and connect as many internal peaks or troughs as possible. Some chartists develop a good eye for this type of trend-line and find them useful. The problem with internal trendlines is that their drawing is very subjective; whereas the rules for drawing of more traditional trendlines along the extreme highs and lows are more exact.
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