Reply To: Major & Countertrend Trendlines
Hi Dave,
Perfect trendline on your GBPUSD, I’ve added a few bits and pieces to your EURGBP – I wouldn’t get too tangled up in 60min stuff, it can take your eye of the bigger picture. But good for practising your charting skills all the same 🙂
(Nice example on this chart of how you can add additional steeper lines as the trend accelerates)
Like John suggests, if you take a good run-up at the chart and just keep adding and adjusting your trendlines as things develop you’ll find the lines take care of themselves – what starts off as a countertrend line can become the new major trend etc…