100 ways to read a chart Especially for beginners it can be very confusing to interpret a chart ... patterns, indicators, oscilators. SDMA, EMAs, Fibonacci.
If you are interested, I would be happy to go into more detail about individual tools and setups, but today I will just give an overview of which tools and types of trade are available.
Timeframe
Trend trading months to years
Swing trading days to weeks
Intraday 1 day
Scalping seconds-minutes
Different markets
Forex
Stocks
raw materials
Indices
Cryptocurrencies
The main technical indicators
Simple moving average (SMA)
Exponential Moving Average (EMA)
Stochastics
Relative Strength Index (RSI)
Commodity Channel Index (CCI)
Moving Average Convergence / Divergence (MACD)
Bollinger Bands (BB)
Chart types
Line chart
Bar chart
Candlestick Chart
Point & Figure Chart
Renko chart
Three line break chart.
Kagi Chart.
Heikin Ashi Chart.
Trade setups basic types
Continuation
Reversal
Sideways
Break out
My personal preferences
EW
Algo's
Pattern
Price action
EMA's MA's
RSI
MACD
KDJ
TAR
Stoch
BB
Pitchfork
Gan
The world of finance is diverse. It is very important to choose a style that suits your psyche, preferences and the amount of time you want to spend.
I would be grateful if you support my post whit likes and comments
Have a nice trading day
Timefame
Higher TF Short, Lower TF LongW/ the Monthly candle closing bearish engulfing suggests we can anticipate a retracement of the rally the Euro has seen against the dollar
On the Daily TF we can see the formation of a Head and Shoulders pattern beginning to form the right shoulder
On the 8H TF we can see price has almost formed a Bullish bat as it gets closer to 88.6 Fib level
Will be monitoring Price Action @ 1.17 price to see if we get a Bullish set up
If we do see a push back to upside we can see targets @ 1.191
From there we will be looking for Lower Lows and for price to show a trend reversal to the downside
4HR EMA TRADING STRATEGY In this example I show you one of the ways I use to trade in a 4hr timeframe.
The idea is to first wait for ema cross, and then wait for at least 2 retracements, after retracement, open a position and place sl below or above the previous retracement depending on your position.
The only downside to this strategy is you might miss a lot of other trading opportunities waiting for the retracements.
Let me know what you think.