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Support and resistance are the most used technical tools in the foreign exchange market.
These points can help us find the direction of the trade, the timing of entry and exit.
In general, we find these locations by software mapping.
Today we're going to show you how to draw a trend line.
 
When drawing trends, it is important to remember that not every trader draws the same trend line.
The lines you've drawn probably don't quite match those I've drawn.
It doesn't matter, as long as we remember that the important rule for drawing a trend line is to connect at least two important points.
Let's look at a couple of examples.
 
The figure above shows the weekly chart of the na finger.
The nasdaq is on an upward trend, up 1,832 points over the past 42 months.
Our first trend line is connected to a series of ascending lows, which are circled in green circles above.
In support of this trend line, the market anticipates a bottom and will hold the trend line.
Once the trend line is drawn, investors will take advantage of new, higher highs to build up multi-orders.
Another is when prices fall back to trend line support and begin to rebound when the establishment of new multi - orders.
Once the price hits the support level but does not close below it, investors will want to build up multi-orders.
When following a trend, a trader may place a stop loss below trend line support in order to limit risk.
 
The figure above shows the euro/Australian dollar 8-hour chart on a downward trend.
Notice how we connect the lower highs to draw the trendline resistance. Look at the green circle.
In this chart, the exchange rate recently hit trend line resistance for the fourth time.
It is important to note that the more a trend is tested without a break, the weaker the trend is.
Based on this, investors usually tend to trade when the third or fourth trendline is tested.
Because the trend line is down and prices are lower, we think euro/aud is in a very strong downward trend.
We can take advantage of the swing high, when the exchange rate rebound to the resistance level when the search for a short.
Look for short positions when the exchange rate hits resistance but fails to close above it.
When the exchange rate begins to fall again, a very effective shorting signal appears.

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