This is how i trade
Yes, I love using trend to trade, it is a good analysis technical to make you clear which direction you want.
Nice to see nice to hold - what indicator do I use or template to do the same for a beginner like me
Troope12:
Nice to see nice to hold - what indicator do I use or template to do the same for a beginner like me
Nice to see nice to hold - what indicator do I use or template to do the same for a beginner like me
The best indicator in the world =PRICE
bubble
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Hi all ,
this is how i trade
TREND TRADING
Trend trading is a simple trading methodology.
The trend is your friend – you’ve heard it a million times before and guess what – its true. I only trade in the direction of the trend relative to its timeframe using the lower timeframe trend to enter into a trade and the higher timeframe for confirmation of the cycle or wav
An uptrend is formed when price is making higher highs and higher lows.
A downtrend is formed when price is making lower highs and lower lows.
During a trend we look for retracements to enter into the trend.
I use prior areas of support as a target area in a downtrend.
I use prior areas of resistance as a target area in an uptrend.
I always use a stop loss and place my stop at a logical place as dictated by price action.
SUPPORT AND RESISTANCE
Resistance is an area where previously sellers out numbered the buyers.
Support is an area where previously buyers out numbered sellers.
I use the right side of the chart to view the trend and the left side to view support and resistance.
Resistance is found where the price previously made a new high then retreated to make a new low ,lower than previous low.
Support is found where the price previously made a new low then rise to make a new high ,higher than the last high.
PEAK AND TROUGH ANALYSIS
Its clear to see if you open a chart of any tradable instrument that the price does not move in a straight line but moves in what we call peaks and troughs moving either up down or sideways.
The peaks and troughs help me to see if the market is in a trend or range or reversal and also to find areas of support and resistance.
WAVES WITHIN WAVES
A fractal is "a rough or fragmented geometric shape that can be split into parts, each of which is (at least approximately) a reduced-size copy of the whole,a property called self similarity.
Fractals exist in nature These objects display a self-similar structure over an extended, but finite, scale range. Examples include clouds, snowflakes, crystals, mountain ranges, lightning, river networks, cauliflower or broccoli and systems of blood vessels and pulmonary vessels, Coastlines may be loosely considered fractal in nature ,fractals exist in may areas in life including time series or price series this means the markets we wish to trade are fractal too , you may have heard of elliot wave theory , although i do not use elliott wave theory to trade i do recognise that the markets are fractal in nature and use this concept to my advantage.
I identify the beginning of a new wave this would be the whole part, i then use lower degrees of timeframes to identify the fractal waves that exist within the whole wave these fractals allow me to identify the trend moving in the direction of the higher timeframe or whole wave and also to view the fractals that exist in the lower timeframes to view the trend forming from the retracement to enter back into the trend.