✔️Confluence Trading📍What is “confluence trading”?
“Confluence trading” is when you combine more than one trading technique or analysis to increase your odds of a winning trade.
You use multiple trading indicators that all give the same “reading”, as a way to confirm the validity of a potential buy or sell signal.
Confluence refers to any circumstance where you see multiple trade signals lining up on your charts and telling you to take a trade.
Here are some indicators, chart patterns and candlestick patterns you can use for confirmation of your trade.
🔹Indicators
Moving Average (MA)
Relative Strength Index (RSI)
Bollinger Bands
Fibonacci retracement
Stochastic Oscillator
MACD
Average Directional Index (ADX)
Ichimoku Kinko Hyo
Parabolic SAR
Williams %R
🔹Chart Patterns
Head and Shoulders
Double Top and Double Bottom
Triple Top and Triple Bottom
Flag and Pennant
Cup and Handle
Wedge
Rectangle
Symmetrical Triangle
Ascending Triangle
Descending Triangle
🔹Candlestick patterns
Doji
Hammer
Hanging Man
Shooting Star
Inverted Hammer
Bullish Engulfing Pattern
Bearish Engulfing Pattern
Piercing Pattern
Dark Cloud Cover
Morning Star and Evening Star
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