Horizontal and vertical lines

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Welcome to currency trading with Profiforex!
This video explores the use of horizontal and vertical lines.
Let's study the simplest types of objects that are represented by horizontal and vertical lines.

Vertical lines are rarely used in real trading. They can be used to select borders of the trend, but generally they're used for demonstration purposes. 

To impose a vertical line on the chart, click on the corresponding icon on the toolbar and then click its necessary location on the chart.
You can select the vertical line by double-clicking.After that, you can open the context menu by right-clicking with the mouse.

If you choose the item "Properties," you'll see the window where you can change the name of the line, add description, and change the color and style of the line.

In the "Parameters" tab you can change just one parameter: time.

In the "Visualization" tab we can choose the timeframes on which the line will be shown.

You can move the line directly on the chart.  Before doing this, select the line by double-clicking. 
All this applies to the horizontal line as well. To impose it on the chart, choose the corresponding icon on the toolbar
or go to the "Insert" tab and choose "Lines" - "Horizontal line."

The horizontal line can be selected by double-clicking. After that, you can move it or see its properties.

The properties are similar to those of the vertical line.

The horizontal line is mostly used to mark support and resistance levels.The resistance line is a psychologically important line that the price can't exceed. 
For example, in November to December of 2009 the euro price hit the level of "one point five thousand one hundred fifty" three times but couldn't overcome that level.
Subsequently, a downtrend started.

The support line is usually psychologically important in that it prevents the price from falling lower.

Together they form a channel where the price can remain for a long period of time.

For example, during November to December of 2009 the euro couldn't fall lower than "one point four thousand eight hundred," though it has come very close to that level several times.

In this case we can say that the price was moving within the horizontal channel. At the same time we see that, once the price broke through this channel,
it began to fall sharply, having lost more than one hundred four thousand pips for three months(the euro has fallen more than 10% from its price).
The support and resistance lines can become an important part of your trading strategy.