How Do I Draw Trend Lines for Intraday Forex Trading?
How to Draw Trend Lines for Intraday Forex Trading on Charts
Example 1: How to Draw Upwards Trend Lines for Intraday Forex Trading
To draw an upwards forex trend-line on a chart use two support points in a bullish upwards trend so that to draw the upward trend-line & then extend the trend-line as shown & illustrated below. The upward trend-line on a forex chart will show the general direction of forex prices & as long as price is above this upward trend line then the upward trend will remain intact - bullish up trend.
If prices move below the intraday forex upward trend line which is the support level for the bullish upward forex trend then forex traders should close all their open forex trades - because this might be a forex trend reversal trading signal. In an upwards forex trend price should generally stay above support level which is marked by the upwards intraday forex trend line.
How to Draw Trend-Lines for Intraday Forex Trading - Up Trend Forex Trend Line
How to Draw Upwards Trend Lines for Intraday Forex Trading
Example 2: How to Draw Downwards Trend Lines for Intraday Forex Trading
To draw a downward intraday forex trend-line on a chart use 2 resistance points in a bearish downward trend so as to draw the downwards forex trend line & then extend the trend line as illustrated below. The downwards forex trend-line on a forex chart will show the general direction of forex prices & as long as price is below this downwards trend line then the downwards intraday forex trend will remain intact - bearish down trend.
If prices move above the downward trend line which is the resistance level for the bearish downwards forex trend then traders should close all their open forex trades - because this might be a forex trend reversal trading signal. In an downward forex trend price should generally stay below the resistance level which is marked by the downward intraday forex trend line.
How to Draw Trend-Lines for Intraday Forex Trading - Down Trend Forex Trend Line
How to Draw Downward Trend Lines for Intraday Forex Trading
How to Draw Trend Lines for Intraday Forex Trading on MetaTrader 4
The MetaTrader 4 platform provides charting tools for drawing the trend lines on forex charts. To draw intraday forex trend-lines on a forex chart, forex traders can use trend-line drawing tool that is provided in MT4 software that is shown below.
How to Draw Trend-Lines for Intraday Forex Trading in MT4
To draw trend-lines on a chart - just click the trend-line plotting tool above in 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 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 trend-line, then uncheck this option in your Forex MT4 platform. You can also change other trend line properties such as color and width on this trend line property popup window of the trend line properties. You can download MT4 forex trading & learn how to draw forex trend-lines with it.
