Trend lines are probably the most common form of technical analysis in Forex trading.
In addition, they are probably one of the least used. (Most novice traders trade against the trend)
Trend lines, if drawn correctly, can be as accurate as any other method.
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Unfortunately, most forex traders do not draw them correctly or try to draw a line that fits the market. If the flow should be the opposite.
Trend lines in technical analysis
In its most primitive form, an ascending trend line is clearly drawn along the floor of the support areas (valleys).
Such a trend line is called an uptrend line.
In the downtrend, a trend line is drawn along the roof of resistance areas (peaks) that are easily identifiable.
Such a trend line is known as a downtrend line.
How should trend lines be drawn?
To draw trend lines correctly in Forex, all you have to do is find two ceilings or two main floors and connect them.
What is the next step?
Nothing.
Oh, that was it?
Yes, it is very simple. Try to get rid of unnecessary complications.
Here are the real trend lines! Look at these waves!
Types of trends
Trend lines in technical analysis
There are three types of trends:
- Uptrend (higher floors)
- Downward trend (lower ceilings)
- Side trend (suffering)
Here are some important things to keep in mind when using trend lines in Forex:
- At least two ceilings or two floors are required to draw a valid trend line, but three are required to confirm a trend line.
- The sharper you draw the trend line, the less credible it is and the more likely it is to break.
- Like horizontal support and resistance levels, trend lines become stronger the more they are touched and tested.
And most importantly, never draw them by feeding and matching trend lines to the market . If they do not fit, the trend line is not valid!
Side trend line with or without trend
We said above that in addition to the uptrend and downtrend, there is a third trend, which we call the side trend. It does not matter what name we give it, it is important to know what it means.
Side or market trend occurs without a trend when the market is unable to build higher ceilings or lower floors.
This market is also called suffering.
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