via https://www.youtube.com/watch?v=2KYdMDHldFU
To catch spikes in Boom 300 and Crash 300 on Deriv TradingView using trendlines, follow these steps:
1. **Identify the Trend**: Determine the overall trend of the market by observing the price movement. For Boom 300, look for an uptrend; for Crash 300, look for a downtrend.
2. **Draw Trendlines**: On the TradingView chart, draw trendlines connecting the significant highs and lows of the price action. For an uptrend in Boom 300, connect the lows to form a support line. For a downtrend in Crash 300, connect the highs to form a resistance line.
3. **Wait for Breakouts**: Monitor the price as it approaches the trendlines. Spikes are more likely to occur when the price breaks through these trendlines. In Boom 300, look for price breaks above the support line. In Crash 300, look for breaks below the resistance line.
4. **Confirm with Indicators**: Use additional technical indicators like RSI or MACD to confirm potential spikes. Overbought or oversold conditions can signal an impending spike.
5. **Execute Trades**: Once a breakout is confirmed, place your trade in the direction of the spike. For Boom 300, buy on breakouts above the support line. For Crash 300, sell on breakouts below the resistance line.
6. **Set Stop Loss and Take Profit**: Define your risk by setting stop loss levels just beyond the trendline to minimize losses. Set take profit levels based on previous price action or predefined targets.
By following these steps, you can effectively use trendlines to catch spikes in Boom 300 and Crash 300 on Deriv TradingView.
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