Trend trading is trading support and resistance
I wanted to point out that trend trading is trading support and resistance. What do i mean by that?
the first thing i want to point out is you need to spot out support and resistance before you place a trade on the long or short side.
Did price close above a key level? did momentum break out with it? if the answer is yes then there is a strong indication to the market going higher of off a break out.
For instance, 2 moving averages crossed indicating that the market gave a cross to the upside ot the down side depending which moving average crossed above the other one. in the chart above the 9 moving average crossed above the 26. Along with the cross above the cloud, Now just because it crossed does not mean you should take the trade, is there resistance above the cross? in this case yes there was.
I REPEAT i do not take trades before a close above a key level ( close not a break out). By doing so my accuracy has drastically improved.
i do not give out where my stops, what strike price or month of a option are because i have had to learn on my own. However i do like to help traders from new to experienced with sharing how to use an indicator an how to use it with market conditions.
Thanks for reading.
the first thing i want to point out is you need to spot out support and resistance before you place a trade on the long or short side.
Did price close above a key level? did momentum break out with it? if the answer is yes then there is a strong indication to the market going higher of off a break out.
For instance, 2 moving averages crossed indicating that the market gave a cross to the upside ot the down side depending which moving average crossed above the other one. in the chart above the 9 moving average crossed above the 26. Along with the cross above the cloud, Now just because it crossed does not mean you should take the trade, is there resistance above the cross? in this case yes there was.
I REPEAT i do not take trades before a close above a key level ( close not a break out). By doing so my accuracy has drastically improved.
i do not give out where my stops, what strike price or month of a option are because i have had to learn on my own. However i do like to help traders from new to experienced with sharing how to use an indicator an how to use it with market conditions.
Thanks for reading.
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