All Blog Post

Posted on Dec 31, 2019 at 09:01 PM
Views: 2284

Share on social media:

QUICK FIX ON “TELLING THE TREND” (Part II).

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:

  1. Identify at least 2/3 swing points – whether a high & higher high, or, a low & higher low
  2. Draw a trend line to connect these identified swing points.
  3. Achieve as many candlestick contacts as possible on the trend line (As seen below).

trendline

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 support@instafxng.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 support@instafxng.com 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.

New to this Community?

You are new here if you do not have an account in our loyalty program.

If you are yet to join our loyalty program, you are missing out on a chance to get paid extra for your activities in the Forex market!

Yes! You can earn more than your profit as a member of the InstaFxNg Loyalty Program and Rewards Promo.

In this program, every deposit and trade will earn you reward points and put you on our monthly and yearly traders' rank.

At the end of each month, we reward the top 5 traders on the monthly rank from a prize pool of $500 and also at the end of the year, we'll reward the 10 top traders on the yearly rank from a grand prize pool of N2.25 Million.

Asides the rewards, when you join the loyalty program, you'll get privileged access to our bonuses, 85% accurate daily signals, weekly technical forecast, and fundamental analysis.

To join the program, all you have to do is open an account and enroll it into the program. As soon as this is completed, you'll begin to earn qualifying points on every deposit and trade.

To open an account and enroll it right now click here to fill the step 1 and 2 form.   

New to the Forex Market? You too can begin to make profit from the Forex market if you're willing to learn.

The Forex market gives you access to buy and sell currencies for profit daily.

The market is worth over $5Trillion and the first thing you need to tap into it is to learn how the business works so that you can avoid the risk of capital loss.

To get started on this money-making journey, we have created a FxAcademy where you can: learn how to trade online, practice on a free demo account, get free offline practical sessions with an expert and get started with a 100% deposit bonus.

Get started today. Click here to start learning for free.

 


Share on social media:

Leave a comment


Latest News