Trend and Counter Trend

[Martin Webber]

Thanks Rich for the best explanation of trend line drawing I have ever seen. Hopefully I understood it well enough to draw the trend and counter trend lines on the attached USDCAD chart. We’ll see.

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[Rich Fitton]

Yes, it’s a real ‘belt & braces’ way of drawing trendlines, glad it comes across clearly in the videos.

I just made a small amendment to one of your countertrend lines. It had put in the lower-low so you could have moved the line up to the most recent swing high. It’s not so critical once the market has moved through a countertrend line but you can pick up some nice later zones of support by keeping them updated

 

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