How Do You Draw a Trend Line Correctly On a Chart?
XAUUSD Draw a Trendline Correctly On a Chart
There are two different types of trendlines - up-wards trendline & downwards trendline. The guide of how to draw trend lines for upwards trend & how to draw trend lines for downwards trend is explained below:
How Do I Draw Trend-Line on Charts?
To draw an up-wards trendline we use support levels. To draw upward trend line correctly two support levels are used as displayed on the up-wards trendline trading example shown & described below.
Draw a Trend Line On a Chart on Charts - Draw Upward Trend Line
Downwards Trend Line
To draw down-wards trendline we use resistance levels & to draw downwards trend line correctly 2 resistance levels are used as illustrated on the downwards trend line trading example shown & explained below.
Draw Trend Lines on Charts - Draw Down-ward Trendline
Trading Draw Trend Lines on Charts
To draw Trend-Lines on MT4 Charts use MetaTrader 4 Charts Drawing Tools for Drawing Trend-Lines on MT4 Charts
The MetaTrader 4 gold trendline drawing tools used to draw trend lines on MetaTrader 4 are located on the MT4 drawing charts tool bar within MetaTrader 4 platform, To access this MT4 charts drawing tools tool bar if it is not activated on your MT4 software, Press in 'View' Next to the 'File' menu at left top corner of MetaTrader 4 platform and click 'View', Then Click the 'Tool-Bars' button, Then Tick the 'Lines Tool-Bar' by pressing on it - Gold MetaTrader 4 Draw Trend Line Tools - MT4 Trend-Line Drawing Tools.
Shown Below is the trading example of the MT4 gold trendline drawing charts tool-bar. To draw trend lines on a trading chart click this trendline plotting tool & choose point where you as a trader want to draw the upwards trendline or down-wards trendline.
Draw Trend Lines on MT4
Interpret and Draw a Trendline Correctly On a Chart
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