So back in our practical part in trading view now, we will look for the tonchi on trend. It was founded by Richard Richard punchin. I mean, his first name was Richard Richard dancin and it's a trading following system, what perfectly works in high trending markets and high on high trending stocks. Their first time the Nanshan trend was really a recommend was in the 1980s. From the turtle traders, may you have hear from them, they was a couple of traders, they should learn trading for big bank and they call themselves the turtle traders and they're one of the strategies they was using was the dancin And they got an 8% return on invest for the first year. Every trader and so the average was 80% from the book The turtle traders from from Curtis and faith, it's wonderful book.

In my opinion, I can really recommend this because the most books for stocks for for Stock Exchange and financials is focused on numbers. And it's not so nice to read because it's actually an academical book with many calculations and numbers. But the book from Curtis and faith the turtle trader is really one of the best trading books ever, ever wrote because it's like it's like a journey. A biographical journey from him, how they learned how what what they feel how all works for for beginner level. So I really can recommend this book and you will find the link below or next to the video. Really nice book.

And now let's see what the function trend is. We have also the indicators and strategy and that this one is trending new. Really like four we got all these strategy here and tiers donjon channels. So what is the dungeon channels you'll see? Three trend lights, the upper here, the lower and the mid one. And what is the rule the rule is that if any candle are the cooks However, what you have is the candle Hit the upper or lower wall trendline you have to open a position.

So if you see that this happens that candle here hits the lower trendline you would open a short position and let it open until the other corner will hit. So okay you would say your position would be from here to here. Okay, that would be your whole short position. And that's for the rules net made here. So the price range that would be around 5%. Okay.

But in this for this trading trading technique, is that you always be invested in the market you will always be invested because You have the site here where you saw the dancin rule set, you would start here go short, and you would have just one completely short would be a very nice profit. But the rule set you closing this position if the course hit the other, other trendline positive one. Okay, so that would be the triangle for one trade. Yeah. And after this candle would hit the positive trendline you would open it would open a long position until the next one, hit down the lower trendline and you would be invested the whole time. But if you back testing the dancin trend, it's it's Yeah, it's always positive, we will always could have a positive return.

But it's mostly work on or in, in trending markets where you can see those trends. Because if you if you maybe have on site market and we will look for one, then it's not work this good, okay? But So following rules you always have to open the long position if the candle which is the higher trend line up until the next candle hit the lower one. So let's make another one. So we would say we are start here. here and this is the point where we leave the trades.

So, like this, that would be our range for one trade and that's left for the price range. So we starting here and would initially sell the long position here would be a profit from 66%. As you see, it works but there are better ways to use these. These technique because if you see that the chorus might be for fall also if you have a long position and cause fall below the middle of trend line, you could also sell the position or close to position. This is also an approach for using the tension channel. The room This just came you leave it open up until the candle hit the other the opposite trend line but if you look you would you would even sell here if you if you look for the middle one, but in quite some times you are positive so there are two approaches for using the term Sham trend but it's really really good back tested from from from many brokers and many traders that it really works.

So yeah, if you want you can have a look in your trading view and look for some charts maybe try this. This one it's really good back tested. And yeah, the dancin trend. So that is our last video for the chart analyzes basic We got all all for the basic chop analyzes. And now we go for the difficulty our chart analyzes. So in the next videos, we will hear more about the momentum strategy, the Dow Theory, Fibonacci, Fibonacci, the mathematic and the Elliot waves and oscillators so they are more complicated, straight, more complicated chart analyzes strategies, which we'll see in the next videos.

So, see you soon follow next time maybe you will start this next video tomorrow. Because now we have two basic so we can have a break and difficulty our stuff starts tomorrow. So see you then