No Result
View All Result
Markets
EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD XAU/USD
Central Banks
FED ECB BoE BoC BoJ SNB RBA RBNZ
Brokers
Wire Transfer Visa/Mastercard Paypal Fasapay Skrill Bitcoin
FCA Cysec CFTC NFA FSA
Forex Guide
Beginners Basics Technicals Fundamentals
Education
Forex Articles Forex School Forex Terms
Forex Strategies
5 Minutes 15 Minutes 30 Minutes 1 Hours 4 Hours Daily
Resources
Indicators Forex Ebooks MT4 MT5
Trading Tools
Live Charts Economic Calendar Fibonacci Calc Pivot Points
Mira FX
  • Markets
  • Education
  • Central Banks
  • Resources
    • Ebooks
    • Indicators
      • MT4 Indicators
      • MT5 Indicators
  • Brokers
    • Deposit Bonuses
    • No-Deposit
    • Demo Contest
    • Live Contest
    • Brokers News
  • Tools
  • Login
  • Deposit Bonuses
  • No-Deposit Bonuses
  • Demo Contest
  • Live Contest
  • Brokers News
  • Brokers
Mira FX
  • Markets
  • Education
  • Central Banks
  • Resources
    • Ebooks
    • Indicators
      • MT4 Indicators
      • MT5 Indicators
  • Brokers
    • Deposit Bonuses
    • No-Deposit
    • Demo Contest
    • Live Contest
    • Brokers News
  • Tools
Mira FX
  • Markets
  • Education
  • Central Banks
  • Resources
  • Brokers
  • Tools
  Latest
Make Money in Forex by Avoiding These Psychological Risks May 24, 2022
Next
Prev

Trendlines

Mira Team by Mira Team
January 19, 2021
in Forex Terms
Reading Time: 1 min read
ShareTweetShareSendShareSend

Definition – What does Trendlines mean?

A trendline is a technical analysis tool where a line is drawn to connect a series of data points to provide a visual picture of the direction that price action is taking. Simply put, a trendline connects either the highs or the lows of a currency pair’s price action to show the trend. Pivot points or other customized points can be used instead of simple highs and lows.

ForexTerms explains Trendlines

Trendlines are very useful in that they allow traders to see both the direction and the strength of a trend with a glance. The more sharply a trendline angles up on an uptrend, the stronger the uptrend. The sharper the downward angle on a downtrend, the stronger the downtrend. That said, trendlines – like any technical analysis tool – are very sensitive to changes in timeframe, so a 5-minute chart can show an upward tilting trendlines even if the 1-hour chart shows an overall downward slope. Currency traders can use multiple trendlines on multiple time frames to quickly summarize past price action over these timeframes, but the number of trendlines can be overwhelming.

One of the most useful applications of trendlines is the use of a trendlines at highs and another at lows to create a channel that represents support and resistance over a given timeframe.

ⓘ Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite.

Related Posts

15 Pip Breakout Scalper Strategy

15 Pip Breakout Scalper Strategy

SUSILO SM | Moving Average
CBOE Volatility Index (VIX) – Forex Traders

The Theory of Elasticity Explained

David G - Feb 22 | Basic
The 5 most Important Economic Events Affecting the British Pound

The 5 most Important Economic Events Affecting the British Pound

Emanoel - Feb 26 | Fundamentals
Industrial Economic Indicators Fundamental

Industrial Economic Indicators and Forex Trading

Emanoel - Feb 20 | Fundamentals
Balance of Payments Theory – Forex Calendar

Balance of Payments Theory – Forex Calendar

Mira Team - August 2 | Fundamentals
Best Days of the Week to Trade Forex

Best Days of the Week to Trade Forex

Admiral Markets - December 10 | Beginner
Advertisement

Latest

Forex Psychological Risks

Make Money in Forex by Avoiding These Psychological Risks

JOANA N - MAY 24 | Psychology

Differences between the Foreign Exchange Market and Stock Market

DAVID G - May 23 | BASIC

Why Leverage is Important for Forex Traders?

Joana N - May 23 | Basic

How To Install Metatrader 5 Custom Indicators

MIRA TEAM - May 9 | Basic

Gross Domestic Product, First Quarter 2022

APR 28, 2022 | USD

The pound reacts to rising inflation like EM currency

Apr 13, 2022 | GBP/USD
Advertisement
  • About
  • Advertising
  • Disclaimer
  • Contact
  • Privacy Policy
  • Terms & Conditions
Risk Warning: All information on this website, including any opinions, articles, charts, prices, news, data, Buy/Sell signals, reviews, research and analysis is provided as general market commentary and does not constitute any investment advice. Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite. Do not invest more money than you can afford to lose. Note that the high level of leverage in forex trading may work against you as well as for you. Please seek advice of an independent financial advisor if you are not fully aware about the risks associated with foreign exchange trading. Forex trading on margin involves considerable exposure to high risk, and may not be suitable for all investors. Mira FX does not endorse any companies, products or services which are represented on Mira-FX.com The information on this website is subject to change without notice.
No Result
View All Result
  • About
  • Advertising
  • Central Banks
  • Contact
  • Disclaimer
  • Forex Brokers
    • Regulator
  • Index
    • Daily Forex Strategy
    • Forex Ebooks | Language: English
    • H1 Forex Strategy
    • H4 Forex Strategy
    • M15 Forex Strategy
    • M30 Forex Strategy
    • M5 Forex Strategy
  • Markets
    • EUR/JPY
  • Mira FX
  • Privacy Policy
  • Terms & Conditions
  • Tools
    • Economic Calendar
    • Fibonacci Retracement Calculator
    • Live Charts
    • Pivot Point Calculator

© 2022 Mira FX | Copying of materials is allowed only with the presence of an active link to a source page.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In