Hello, does anyone know of a website that can accurately say this is the direction the trewnd is moving in for most if not all of the pairs.I m still pretty new to this and would like confirmation until i feel comfortable making that decisio myself.Thanks.
p.s. ive gotten some great feed back in this forum & want to say thank you very much.
dont know of any just open a demo acc Alpari (UK) god i went through a few of them i only stick to gbp/usd thats the only i trade till i get better m8 this is a great forum the bes iv been on ya dont need ta go anywhere elese
What you can do is try and identify trends by drawing trend lines.
Please note that trends for different time frames may vary.
In this current environment, I don’t really see any trends on the 15m to 4 hour time frames, so there may not be any websites out there doing it “accurately” or consistenly. On the longer time frames, even with this consolidation it looks like the US Dollar is on a downtrend relative to most of the majors.
Just my two pips
Trend spotting is not as simple as you may think.
The time frame is, of course, the main consideration since the charts are different with every timeframe.
The are 2 parts to a trend - the active part where you make a nice profit, and the passive part where the price action basically hangs around in limbo for a while and goes nowhere in particular.
I am not talking about consolidation or range trading.
I will have more to say on this matter later on either this year or next year.