The grain line arrow is to be placed parallel to the selvedge.
Measure the end of the line to the selvedge, pin. Then make sure
the other end of the arrow is the same distance from the selvedge
and pin. This process is extremely important. If your garment is
not cut 'on the grain', it wont hang properly, it won't be
comfortable - you'll always feel 'off' when wearing it, but you
won't know why, so you just won't wear it.
Never skip this step of laying out your pattern, and never
eyeball it. Measure it.