How to Correctly Identify the Trend - Part I
If there is one piece of the trading puzzle that remains a bit unclear for traders it is that of the 'trend'. Depending on whom you speak to, each will have a different answer. Regardless, of their answer however, it is critical that you arrive at the correct answer in the context of how that person trades. Failure to correctly identify the trend will greatly reduce the odds of success.
The first place to start is by identifying which time frame you plan to make your trade off of. For me, I only have three choices, 60-minute, 240-minute or the daily chart, as these are the only three time frames I follow for trade set-ups. The vast majority of the trades are based on the 60-minute chart however. So, for the time being, let's keep it simple, I will not factor in the other time frames as it can get a bit confusing.
What is the trend on the following chart?
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Technical Indicators Tutorial
Technical Indicators Tutorial
Price is the primary tool of technical analysis because it reflects every factor affecting the value of a market. However, price doesn't produce just trend lines and basic chart patterns. Analysts have expanded their research far beyond those basic elements to develop a number of technical indicators that provide more insight into price action than what you see on the surface. You may be able to see that a market is “extended” (overbought or oversold) just by looking at a bar chart, but an indicator can put a number to it and confirm your thinking.
First, a warning about indicators in general. Most analysts do not rely on only one indicator but often use several indicators together to help make a trading decision because of the misleading information one indicator might provide. An oscillator indicator is not a trading system but only provides helpful insights in certain market conditions.
Oscillators tend not to work well in markets that are in a strong trend. They can show a market at either an overbought or oversold reading for an extended period while the market continues to trend strongly. Another example of oscillators not working well is when a market trades into the upper boundary of a congestion area on the chart and then breaks out on the upside of the congestion area. At that point, it's likely that an oscillator would show the market as being overbought and possibly generate a sell signal when, in fact, the market is just beginning to show its real upside power.
From a list of literally hundreds of technical indicators, we have selected the more popular ones to illustrate what is available. These technical indicators can be put into several categories:
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Price is the primary tool of technical analysis because it reflects every factor affecting the value of a market. However, price doesn't produce just trend lines and basic chart patterns. Analysts have expanded their research far beyond those basic elements to develop a number of technical indicators that provide more insight into price action than what you see on the surface. You may be able to see that a market is “extended” (overbought or oversold) just by looking at a bar chart, but an indicator can put a number to it and confirm your thinking.
First, a warning about indicators in general. Most analysts do not rely on only one indicator but often use several indicators together to help make a trading decision because of the misleading information one indicator might provide. An oscillator indicator is not a trading system but only provides helpful insights in certain market conditions.
Oscillators tend not to work well in markets that are in a strong trend. They can show a market at either an overbought or oversold reading for an extended period while the market continues to trend strongly. Another example of oscillators not working well is when a market trades into the upper boundary of a congestion area on the chart and then breaks out on the upside of the congestion area. At that point, it's likely that an oscillator would show the market as being overbought and possibly generate a sell signal when, in fact, the market is just beginning to show its real upside power.
From a list of literally hundreds of technical indicators, we have selected the more popular ones to illustrate what is available. These technical indicators can be put into several categories:
www.forexbusiness_wealth.blogspot.com
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Hi team,
You guys are the best! We received the affiliate junktion website 2 weeks ago and it is going so well! Within 2 days of having the affiliate website online, we have started earning commissions! We're up to about $75 per day now, and increasing. Why didn't we know about affiliate junktion before? We have been struggling for the past 3 years to earn money online. We didn't even dream of earning $75 bucks per day! Incredible! If you ever start a testimonial section on your website, feel free to ad our happy words to it.
Ps: Special thanks to our affiliate manager Michael. You have been extremely helpful and patient with us. Much appreciated!
Best regards,Carol & Derick Main, London, United Kingdom
please click here to start making money immediately
www.affiliatejunktionbiz.net
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Rush your dollars to ..(your name and address)This manual only N3500 OR $25If you are from Nigeria just pay into any of the Guarantee Trust Bank plc.Account Name: SARUMI SHOLA SODIQAccount no: 2352284172110 Naira accountAccount no: 2352284172210 Dollar accountAfter your payment text you name, teller number,and you e.mail address to the number below:2348088172933 or 23416596651,orsend the information to the e-mail address below:dollarsperdayplan@yahoo.comYour manual will be send immidiately your information are all sent.NOTE: YOUR E-MAIL ADDRESS IS IMPORTANT
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