My Marketiva Forex Blog  

Last month on October i’ve wrote simple article include video drawing with trend line.
And now i would like to implement the trend line with 30 minutes chart on USD/CAD pair.
The first step to trend line construction, and most important, is the selection of the two points to create the trend line . With trend line diagonal, find the highest price that was in 1.1364,
look at the figure 1st poin was in 1.136 and 2nd poin in 1.1364. To find the 1st poin, you need to take a horizontal line and mark the point where the vertical line coming from the highest high recorded above the trend line intersect with the trend line.

Note the two values listed on the chart. In the next step i take the difference between the highest high recorded above the demand line and the point where the demand line is intersected by the vertical line.

Highest High: 1.1364
Point of intersection: 1.1316
So (1.1364 - 1.1316 = 48) so i get 48 pips

Next make horizontal line (blue line) from position where the trend line price was broke, which was in 3rd poin in 1.1326, so with 3rd position make another horizontall line which 48 pips from
1.1326 (1.1326-48) and we got 1.1278 that 4th poin.

The conclusion USD/CAD price running down until at least 1.1278.

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