How to Draw Oil Trend Lines Technical Analysis
How to Draw Oil Trend Lines in MT4 Crude Oil Trading Software
The MT4 software provides oil charting tools for drawing the oil trend lines on MT4 oil charts. To draw oil trend lines on a oil chart on MT4 software, crude oil traders can use the oil trendline drawing tool that is provided on MT4 software that is shown on the oil example shown below.
How to Draw Oil Trend Lines & Technical Analysis of Oil Trend Lines in Crude Oil Trading
How to Draw Oil TrendLines on MT4 Oil Platform – How to Draw Oil Trend-Lines Technical Analysis
To draw oil trend lines on a oil chart - just click the MT4 oil trend line drawing tool above on the MT4 technical analysis software and select point A where you want to start drawing the oil trend line and then point B where you want the oil trend line to touch. You can also right-click on oil trend line and 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 MT4 platform - oil trend line properties. 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 MetaTrader 4 oil & learn how to draw oil trend-lines & learn oil trend-line technical analysis with it.
Oil Technical Analysis of Oil Trend Lines with Examples
There are two technical analysis methods used to trade the oil trend lines:
- Crude Oil Trend-line Break
- Oil Trend Line Bounce
How to Draw Crude Oil Trendlines & Technical Analysis of Crude Oil Trendlines in Crude Oil
The oil trendline bounce is a continuation oil signal where the crude crude oil price bounces off the oil trend line & continues in the same direction as that of the crude oil trend.
Oil Trend-Line Bounce Technical Analysis in Oil Up Trend
- In an upward oil trend, the crude crude oil price will bounce upwards after hitting this oil upward trend line level which is the support level.
Oil Up Trend - Oil TrendLine Bounce after Touching The Support Levels Provided by the Upward Oil Trend Line
Oil Upward Oil Trend - Oil Trend-Line Bounce Technical Analysis How to Draw Oil Trend Lines & Technical Analysis of Oil Trend Lines in Crude Oil Trading
Crude Oil Trend-line Bounce Technical Analysis in Crude Oil Down Trend
- In a downwards oil trend, the oil market will bounce downwards after hitting this oil trend line level which is the resistance level.
Oil Down Trend - Oil Trend-Line Bounce after Touching The Resistance Levels Provided by the Downwards Oil Trend Line
Oil Downward Oil Trend
How to Draw Oil Trend Lines & Technical Analysis of Oil Trend Lines in Oil
The oil trend-line break is a oil reversal trading signal where the oil market goes through the oil trend line & starts moving in the opposite direction.
Crude Oil Trendline Break Technical Analysis
When a oil up trendline is broken then sentiment of the oil market reverses & becomes bearish
Oil Upward Crude Oil TrendLine Break
Crude Oil Trendline Break Technical Analysis
when a oil down trendline is broken then sentiment of the oil reverses & becomes bullish
Oil Downward Crude Oil TrendLine Break
NB: For very strong oil trends, after this oil trend line break reversal oil signal, the crude crude oil price will consolidate for some time before moving in the opposite oil trend direction. For short term oil market trends then this oil trend line break reversal oil signal will mean crude crude oil price may reverse immediately.
