Resolved Question
In i hr chart what should be the mInimum distance between the swIng low and swIng high In terms of pips
what is the best way to determine whether its an up or down trend
about 1 year ago
Best Answer - Chosen by Voters
1) There is no minimum distance between a swing low and a swing high in terms of pips.
2) If a currency pair is making consecutive higher highs and higher lows, then it is trending up. On the other hand, if it is forming consecutive lower lows and lower highs, then it is trending down.
about 1 year ago
Answers (2)
I agree with Forex Gump. I don't think there's a minimum distance between swing high and swing low. Head on over to BabyPips.com to learn about how to use the Fibonacci retracement tool. There's also an excellent lesson on trends there. I provided the links below:
about 1 year ago
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To add to my fellow FX-men's answers, you should also take into account which currency pair you are looking at. GBP pairs tend to be more volatile, so the distance between its swing highs and lows maybe a lot bigger than say the AUDUSD, which isn't as volatile.
Also, try to make use of multiple time frames. Zooming out and looking at the 4-hour and daily charts may give you a clearer indication of both the swings highs and lows as well as the overall trend.
about 1 year ago
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