Part 3/9:
For effective charting, tools like TradingView provide drawing functionalities. The choice of a line tool versus the ray tool can significantly impact your trend lines. Using the ray tool allows you to create a line that extends indefinitely in one direction, capturing ongoing market movements.
Conducting Top-Down Analysis
When marking up charts, always begin from the highest time frame—to gain a broad perspective of price movements. For instance, if analyzing the Micro E-mini Dow Jones (M ym), start with the monthly time frame to identify the overall trend direction.