Reply To: Major & Countertrend Trendlines
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I have attached two efforts. The first being on the AUDJPY. I could only find the trend line for this one. I have also entered the MOR. As you can see this was in an up trend, I could not really find two high points. In retrospect maybe the last high point and the next pull-back may have been a suitable place but maybe not as the pull-back isn’t really a high point at that stage.
The other chart is from the AUDNZD. I have taken two months worth of MOR as I think it’s good to start practicing that now. I have also found the trend line which was a big up move. I have also attempted to plot two counter trend lines. Any feedback from Rich or any of the new group would be much appreciated.
For counter trend lines am I right in thinking we have to wait days if not weeks before one may develop?