Exercise #3


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  • #1825
    James Dallard
    Participant

    Here are my relevent trendlines and counter trend lines. Not too sure if if can start up a new trendline if the price action gets steeper, but I have done this. Also I can see counter trend lines off big counter trend lines – are these ok for support/resistance and targets. Maybe that is too complicated ?

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    #1838
    Rich FittonRich Fitton
    Keymaster

    Hi James,

    Yes, it’s always worth dropping in a new trendline when the trend accelerates. Countertrend lines are also always worth dropping into place when you have clear highs/lows to project the line across (like you have in your examples). There’s no need to ‘force’ countertrend lines when there is no obvious place to draw them, they are not always available.

    #1858
    Martyn YoungMartyn Young
    Participant

    Hi Rich

    Ive attached the GBP/USD & EUR/USD daily charts showing what I think are major trend lines and counter trend lines, going back to June this year

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    #1861
    Rich FittonRich Fitton
    Keymaster

    Hi Martyn, trendlines looking good 🙂

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