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Posted on Dec 31, 2019 at 09:01 PM
As a follow-up to our previous article on how to tell a trend’s direction, traders have asked “Which indicator is best for telling a chart’s trend direction?”
Again, I’ve done my research & I came up with a tested & trusted answer: “TRENDLINES”
Before we go into "what a trend line is", take note that this is the second series on how to spot trends in the market, so if you are yet to read the first series click here to see it now so that we can be on the same page.
A Trend line is a “2-in-1” line tool that we can draw on the charts. They can help you identify both the direction & the strength of a trend if properly used.
Now, this means that knowing how to draw trend lines like a pro is essential and in this series of the article, you will learn how to draw and use the trend line.
Here’s a 3-step technique that works every time:
That’s just how it’s done.
Now that you know how to draw the trend line, let’s look at how to interpret it and use it to tell the trend direction below:
When the trend line is sloping higher/upwards, it’s an UP-trend.
But wait… that’s not all there is to telling the trend, so don’t miss the most important information which is “the angle of the trend line” that shows the strength of the trend.
If the trend line is steep, then we have a strong trend and conversely, when the trend line is flat, then we have a weaker trend.
This, my friend, is the ultimate strength of any trend line.
Now that you know this, it’s time to practice drawing trendlines like a pro.
If you’d like to verify how accurate your trend lines are, simply take screenshots of your charts & forward them to me at email@example.com so I can assess them for you.
This is your perfect chance to master the use of trend lines so that you can maximise your profit this year 2020 with a stronger analysis game and in turn make more profit.
Send your chart screenshot(s) to firstname.lastname@example.org now and let’s get started.
Got any questions for me on how to set up or use the trend lines in telling the market direction? Leave a comment below and I will be sure to respond to them.
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