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How To Draw Trendlines Step By Step

For each Forex traders  first step is... Johannes Röll Visitors: 528 ★★★★

We will talk about such a well-known technical analysis tool as a trend line.

Let's imagine we return to the beginning of the twentieth century, in the era of the formation and development of the theory of Charles Henry Doe, which served as the beginning of technical analysis. In those days, inclined trend lines (along with horizontal lines) were the only tool that allowed for market analysis. More than a hundred years later, this tool has not lost its popularity and remains a powerful weapon in the hands of the modern trader.

I believe that any trader, regardless of which market (stock, currency, commodity) he trades, is simply obliged to correctly build trend lines and trade on them.

A trend line is a technical analysis tool whose main purpose is to identify a trend in the market. As well as identification of the moments of deceleration, change of direction and reversal of the current trend.

In simple terms, a trend line is needed in order to determine what trend is now (bullish or bearish, or maybe the market is in sideways movement now)? How strong / weak is the current trend? Is it possible to change the direction of price movement and when?

Johannes Röll
Johannes Röll

Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer

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