How Do I Draw Commodity Trend Lines for Intraday Commodity Trading?
How to Draw Commodity Trend Lines for Intraday Commodity Trading Charts
Example 1: How to Draw Upwards Commodity Trend Lines for Intraday Commodity Trading
To draw an upwards commodity trendline on a commodity chart use 2 support points in a bullish upward commodity trend so that to draw the upward trend-line and then extend the trend-line as illustrated and shown below. The upward commodity trendline on a commodity chart will show the general direction of commodity prices & as long as price is above this upward trend line then the upward trend will remain intact - bullish up commodities trend.
If commodity prices move below the intraday commodity upward trend line which is the support level for the bullish upward commodity trend then commodities traders should close all their open commodities trades - because this might be a commodity trend reversal signal. In an upwards commodity trend commodity price should generally stay above the support area which is marked by the upwards intraday commodity trend line.
How to Draw Commodity Trend Lines for Intraday Commodity Trading - Up Commodity Trading Trend Trend Line
How to Draw Upward Commodity Trend Lines for Intraday Commodity Trading
Example 2: How to Draw Downwards Commodity Trend Lines for Intraday Commodity Trading
To draw a downward intraday commodity trendline on a commodity chart use 2 resistance points in a bearish downward commodity trend so as to plot the downwards commodity trend line & then extend the trend line as illustrated below. The downwards commodity trendline on a commodity chart will show the general direction of commodity prices & as long as price is below this downwards trend line then the downwards intraday commodity trend will remain intact - bearish down commodities trend.
If commodity prices move above the downward commodity trend line which is the resistance level for the bearish downwards commodity trend then traders should close all their open commodities trades - because this might be a commodity trend reversal signal. In an downward commodity trend commodity price should generally stay below the resistance area which is marked by the downward intraday commodity trend line.
How to Draw Commodity Trend Lines for Intraday Commodity Trading - Down Commodity Trading Trend Trend Line
How to Draw Downward Commodity Trend Lines for Intraday Commodity Trading
How to Draw Commodity Trend Lines for Intraday Commodity Trading in MetaTrader 4
The MT4 commodities software provides charting tools for drawing the trendlines on commodity charts. To draw intraday commodity trendlines on a commodities trading chart, commodities traders can use the trend line drawing tool provided on MetaTrader 4 platform that is illustrated below.
How to Draw Commodity Trend Lines for Intraday Commodity on MT4
To draw commodity trendlines on a commodity chart - just click the trendline drawing tool above on the MT4 technical analysis software and select point A where you want to start drawing and then point B where you want the trend line to touch. You can also right click on trend line & on the commodity trend line properties option select the option to extend its ray by ticking the "ray check box", if you do not want to extend the trendline, then uncheck this option in your MetaTrader 4 platform. You can also change other commodity trend line properties such as color and width on this commodity trend line property popup window of the trend line properties. You can download MT4 commodities trading & learn how to draw commodity trend-lines with it.
