How Do I Draw Commodity Trendlines for Intraday Commodity?
How to Draw Commodities Trend Lines for Intraday Commodities
Examples 1: How to Draw Upwards Commodities Trend Lines for Intraday Commodities
To draw an upwards commodity trendline on a commodity chart use 2 support points in a bullish upward commodity trend so as to plot the upward commodity trend line & then extend the commodity trend line as shown below. The upwards commodity trendline on a commodity chart will show the general direction of commodities trading prices & as long as commodities trading price is above this upward commodity trend line then the upward commodity trend will remain intact - bullish up commodities trend.
If commodities trading prices move below the intraday commodity upwards trend line which is the support level for the bullish upward commodity trend then commodities traders should close all their open commodities trades - because this might be a commodity trend reversal commodity signal. In an upwards commodity trend commodities trading price should generally stay above the support area which is marked by the upwards intraday commodity trend line.
How to Draw Commodities Trend Lines for Intraday Commodities Trading - Up Commodities Trend Line
How to Draw Upward Commodities Trend Lines for Intraday Commodities
Example 2: How to Draw Downwards Commodities Trend Lines for Intraday Commodities
To draw a downwards intraday commodity trendline on a commodity chart use 2 resistance points in a bearish downward commodity trend so as to plot the downwards commodity trend line & then extend the commodity trend line as displayed below. The downward commodity trendline on a commodity chart will show the general direction of commodities trading prices & as long as commodities trading price is below this downwards commodity trend line then the downward intraday commodity trend will remain intact - bearish down commodities trend.
If commodities trading prices move above the downward commodity trend line which is the resistance level for the bearish downward commodity trend then traders should close all their open commodities trades - because this might be a commodity trend reversal commodity signal. In an downwards commodity trend commodities trading price should generally stay below the resistance area which is marked by the downward intraday commodity trend line.
How to Draw Commodities Trend Lines for Intraday Commodities Trading - Down Commodity Trend Line
How to Draw Downwards Commodities Trend Lines for Intraday Commodities
How to Draw Commodities Trend Lines for Intraday Commodities Trading in MetaTrader 4 Software
The MetaTrader 4 commodities software provides charting tools for drawing the commodity trend lines on commodities charts. To draw intraday commodity trendlines on a commodity chart, commodities traders can use the commodity trend line drawing tool that is provided in the MT4 software that is shown below.
How to Draw Commodities Trend Lines for Intraday Commodities Trading on MT4 Platform
To draw commodity trendlines on a commodity chart - just click the commodity trendline drawing tool above in MT4 technical analysis software and select point A where you want to start drawing and then point B where you want the commodity trend line to touch. You can also right click on commodity trend line and on the commodity trend line properties option select the option to extend its ray by ticking the "ray check box", if you do not want to extend the commodity trendline, then uncheck this option in your Commodities Trading MT4 commodities trading platform. You can also change other commodity trend line properties such as color and width on this commodity trend line property popup window of the commodity trend line properties. You can download MetaTrader 4 commodity & learn how to draw commodity trend lines with it.
