Direction of Trend
I'm looking on the myfxtrading hub major currency pair trend analysis and would
like to ask, regarding the weekly, daily and hourly
time frame, how far back on the chart are you looking to determine the direction of the trend? Cheers H.
Hi Heather, that's a good question and usually the first we get in the Workshop. You go back as far as you need to, to find the relevant high/low for the start of the current trend.
So the easiest way to do this is to go to your Weekly chart and draw support and resistance. Then step forward to the Daily charts and draw those in and finally do the same on the Hourly charts. That way you will have all trendlines drawn on your charts starting at the very highest and very lowest point.