Trend lines are perhaps the most common form of technical analysis. And maybe one of the most underused too. If drawn correctly, trend lines can be as accurate as other methods. Unfortunately, most traders don't draw it correctly or try to draw lines according to the market, not the other way around. In its most basic form, the ascending trend line is drawn along the bottom area (valley) of support that is easily identified. In the downtrend, the trend line is drawn at the top of the easily identified resistance area (peak).