How Do You Draw Oil Trend Lines for Intraday Crude Oil?
How to Draw Oil Trend Lines for Intraday Oil
Examples 1: How to Draw Upward Oil Trend Lines for Intraday Oil
To draw an upward oil trend line on a oil chart use two support points in a bullish upwards oil trend so as to draw the upwards oil trend line and then extend the oil trend line as displayed below. upwards oil trend line on a oil chart will show the general direction of crude oil trading prices and as long as crude crude oil trading price is above this upwards oil trend line then the upwards oil trend will remain intact - bullish up crude oil trend.
If crude oil trading prices move below the intraday oil upwards trend line which is the support level for the bullish upwards oil trend then crude oil traders should close all their open crude oil trades – because this might be a oil trend reversal oil signal. In an upward oil trend crude crude oil trading price should generally stay above the support level which is marked by the upward intraday oil trend line.
How to Draw Oil Trend Lines for Intraday Crude Oil Trading - Up Crude Oil Trend Line
How to Draw Upward Oil Trend Lines for Intraday Oil
Examples 2: How to Draw Downward Oil Trend Lines for Intraday Oil
To draw a downwards intraday oil trend line on a oil chart use two resistance points in a bearish downwards oil trend so as to draw the downward oil trend line and then extend the oil trend line as shown below. downwards oil trend line on a oil chart will show the general direction of crude oil trading prices and as long as crude crude oil trading price is below this downward oil trend line then the downwards intraday oil trend will remain intact - bearish down crude oil trend.
If crude oil trading prices move above the downwards oil trend line which is the resistance level for the bearish downwards oil trend then traders should close all their open crude oil trades – because this might be a oil trend reversal oil signal. In an downward oil trend crude crude oil trading price should generally stay below the resistance level which is marked by the downwards intraday oil trend line.
How to Draw Oil Trend Lines for Intraday Crude Oil Trading - Down Crude Oil Trend Line
How to Draw Downward Oil Trend Lines for Intraday Oil
How to Draw Oil Trend Lines for Intraday Crude Oil Trading in MetaTrader 4 Oil Trading Platform
The MT4 software provides charting tools for drawing the oil trend lines on crude oil charts. To draw intraday oil trend lines on a oil chart, crude oil traders can use the oil trend line drawing tool provided in the MetaTrader 4 software that is shown below.
How to Draw Oil Trend Lines for Intraday Crude Oil Trading in MT4 Oil Software
To draw oil trend lines on a oil chart - just click the oil trend line drawing tool above on the MetaTrader 4 technical analysis software and select point A where you want to start drawing and then point B where you want the oil trend line to touch. You can also right-click on the oil trend line & on the oil 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 oil trend line, then uncheck this option in your Crude Oil Trading MT4 platform. You can also change other oil trend line properties such as color and width on this oil trend line property popup window of the oil trend line properties. You can download MT4 oil and learn how to draw oil trend lines with it.
