A must-read for people who aren’t succeeding in FX: Are you drawing that trend line correctly? A master trader who has mastered Dow Theory developed this heartfelt indicator—multi-time-frame analysis is also important

By the way, on the FX chart,horizontal lineare you drawing?

Then, on what basis do you draw thathorizontal line?

Perhaps you’re drawing it with a vague guess like “around here” without much justification?

To draw a horizontal line accurately, knowledge of Dow Theory is still essential now as it ever was.

It is said that it is impossible to consistently profit without knowing Dow Theory, such is its importance.

However, to learn Dow Theory from scratch and be able to apply it in practice requires reading many specialized books and converting that understanding into charts, which takes a tremendous amount of time and effort.

Based on Dow Theory,if you could determine the exact turning points as high prices, low prices, swing highs, and pullbacks on the chart,,and if there were an indicator that automatically draws precise horizontal lines, wouldn’t that be enough?

If your MT4 chart is equipped withan indicator that draws precise horizontal lines,any FX beginner can identify trend reversal points and important price ranges of highs and lows.

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