Hello all, here is a (small, sorry about that) pic of the usd/jpy on June 6th on the 4 hourly charts, I drew my trendline…but there is a big spike at the bottom, which would change it alot…so…how would you draw it?..have I draw to what I want to see, or what the chart is saying?..opinions?
Sometimes spikes through your trendlines are ok, but that’s not a spike. Price was below your trendline for about an hour.
I’d have drawn it like this:
I dont trade the UJ, but I thought I might as well throw out my trned lines.
The two decending lines are the Major and Mid term trends, the major being higher. The ascending would be my minor trend.
The yellow lines are reactionary zones from higher timeframes.
Thanks…I can see what you did…our charts are a bit different…?
Our brokers are just on different times zones. No big deal… All the major moves will still be the same.