Trendtrader
EDUCATION _Trend duration All trends can be divided by:
short-term;
medium-term;
long-term.
To determine the duration of a trend, you need to use senior timeframes. In classical theory, trends are divided into annual, monthly and daily trends. For scalping, as a rule, we have enough:
define a long-term trend on a 1-day chart;
medium-term trends will be 1-4 hours;
short-term trends at 5 and 15 minutes.
Thus, we can see the picture, when a single long-term trend consists of several medium and short-term trends. This is often the mistake of beginners. They put one frame, like 5 minutes, define trends, but forget to define medium- and long-term trends. And then they wonder why this price has suddenly turned around at 5-minute. That's why on another timeframe the picture looks different.
Say, what do you see on these 5 minutes?
Does the price, like an abnormal price, fall down after a side movement? Absolutely.
Thus, we can see the picture, when a single long-term trend consists of several medium and short-term trends. This is often the mistake of beginners. They put one frame, like 5 minutes, define trends, but forget to define medium- and long-term trends. And then they wonder why this price has suddenly turned around at 5-minute. That's why on another timeframe the picture looks different.
Say, what do you see on these 5 minutes?
Does the price, like an abnormal price, fall down after a side movement? Absolutely.
the same chart looks like on the 4-hour time frame:
It is very important to understand where we are in the trend.
You can see the types of trends in this post:
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CADJPY Short trade present.Hello Traders
Here I have a CADJPY chart on the 30M time frame that I trade on settings at a 1:2 risk reward strategy.
A sell signal has just presented. I have taken the trade with the SL set and I am working to the TP2 setting on screen.
Traded this pair this way since February and have 132% gains on capital. Shown by the back tester at bottom of screen.
Drop me a message for information on the script I'm running.
CADJPY Short trade present.Morning Traders
Working the H1 chart on the CADJPY pair here and after a successful long trade a sell signal has presented at 10 am UK time.
I know enter the sell and follow the trend until next signal. That is how I work this strategy but you can adapt the strategy for to your own needs and for example if you worked to a take profit target you could of choose any of those take profit targets in the previous trade and would of banked good pips.
For more information on the strategy drop me a message.