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Chart for trendlines

Darran

New Member
What is best chart for trendlines for day trading. 1d 3 and 5d? I cant see a yearly chart being good other than for swing trading.
 
The best chart for day trading trend lines is the one-day chart. This is because you want to avoid any gaps in your trades. For swing trading, I would say the weekly chart would be best because it will show the bigger picture. So if you were day trading and used a weekly chart for buying and selling, you could get some good entries and exits because the weekly chart shows the overall trend.
 
A one-day chart is more likely to provide deeper detail of near-term market action, whereas a weekly chart may offer the longer-term context required for evaluating the significance of daily price moves. You can draw a trendline on a daily chart. The price action on the higher time frames is more likely to follow the trendline.
 

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