Tutorial
GANN THEORY Strategize I know that some people out want a Easier Approach when trading stocks. Please understand i am not a License Professional trader, been trading since i graduated from high school 14 years ago. Wanted to show a brief way to trade the GANN theory that i have posted before this. How to set up the GANN is outline in it, if you need help please message me.
Everything i do is anchor(i have allot of MTF items on my chart) (( all have to set to the desired result)) on the Upper time frame based on what my goal is.... Am i going to Day-trade this , am i going to Swing this ?
so my recommendations is ANCHORS DAILY WEEKLY AND MONTHLY for GANN...
15min 5min dual chart for Daily GANN anchor.
4hr and 1hr dual chart for Weekly
1day solo chart for Monthly
Having 2 different charts = more trade opportunities to Aim at so i recommend that on the daily and the Weekly time frames.
When set up correctly trading is simple, sometimes automated but you still need to pay attention to the charts, i am not saying this is the HOLY GRAIL... i am sure it adapt and improve overtime but i have had great success with it.
What is a moving average? How to use it?
The Moving Average (MA) is a simple technical analysis tool that smooths price data, creating a constantly updated average price. The average value is taken for a certain period, for example, 10 days, 20 minutes, 30 weeks, or any time chosen by the trader. There are advantages to using a moving average in your trading, as well as options for which type of moving average to use. Moving average strategies are also popular and can be adapted to any time interval, which is suitable for both long-term investors and short-term traders.
The Moving Average (MA) is a widely used technical indicator that smooths out price movements by filtering out "noise" from random short-term price fluctuations.
Moving averages can be constructed in several ways and use a different number of days for the averaging interval.
The most common applications of moving averages are determining the trend direction and determining support and resistance levels.
When asset prices cross their moving averages, this can generate a trading signal for technical traders.
Although moving averages are quite useful on their own, they also form the basis for other technical indicators, such as the moving average convergence divergence ( MACD ).
Why use a moving average
The moving average helps to reduce the amount of "noise" on the price chart. Look at the direction of the moving average to get a general idea of which way the price is moving. If it is tilted up, the price as a whole is moving up (or has been recent); tilted down, and the price as a whole is moving down; moves sideways, and the price is most likely in a range.
The moving average can also act as support or resistance . In an uptrend, a 50-day, 100-day, or 200-day moving average can act as a support level , as shown in the figure. This is because the average acts as a support, so the price bounces off it. In a downtrend, the moving average can act as resistance; like a ceiling, the price reaches a level and then begins to fall again.
✅ Let me know how do YOU use the MA, and what is your favorite indicator?✅
Triangle Patterns - Advanced AnalysisChart patterns describe distinct structures in financial time series. Their occurrence helps technical analysts predict future price variations.
Triangle patterns form a part of the most studied patterns by technical analysts and have been well documented over the years, with some even applied to climate time-series data (1). In this post, we perform an analysis of ascending, descending, and symmetrical triangles patterns.
We provide a description of each pattern and its implications, as well as a model of the price variation within each described pattern. We also review the literature in order to find their deterministic cause.
To knowledgeable investors, chart patterns are not squiggles on a
price chart; they are the footprints of the smart money.
- Bulkowski (2)
1. Ascending Triangles
Ascending triangles are characterized by a series of rising local minima (higher lows) and a series of local maxima staying at a relatively fixed level. A line is drawn from the rising minima, forming an upward sloping support line. Another line is drawn from the maxima, forming a horizontal resistance line. The apex represents the point where both lines intersect.
Ascending Triangles have a bullish bias. Once the price breaks the resistance line we can expect a rapid increase of the price. This breakout is often accompanied by an increase in volume, while the volume prior to the breakout was declining. Note that this is not a pre-requisite.
Example of ascending triangle on CALX daily.
2. Descending Triangles
Descending triangles are characterized by a series of declining local maxima (lower highs) and a series of local minima staying at a relatively fixed level. A line is drawn from the declining maxima, forming a downward sloping resistance line. Another line is drawn from the minimal, forming a horizontal support line.
Descending Triangles have a bearish bias. Once the price breaks the support line we can expect a rapid decrease of the price. Like ascending triangles, this breakout is often accompanied by an increase in volume, while the volume prior to the breakout was declining.
Example of descending triangle on CORN daily.
3. Symmetrical Triangles
Symmetrical triangles are characterized by a series of declining local maxima (lower highs) and a series of increasing local minima (higher lows). A line is drawn from the declining maxima, forming a downward sloping resistance line. Another line is drawn from the minima, forming an upward sloping support line. Both support and resistance lines should have an approximately equal slope.
Symmetrical triangles do not have a particular bullish or bearish bias, and are sometimes used to indicate market uncertainty. The expected outcomes depend on where a breakout is occurs. If the price breaks the resistance, we can expect an increase of the price, while a breakout of the support can be followed by a decrease of the price.
Example of symmetrical triangle on PFO daily.
4. Pattern Modelling
Describing price variations within patterns with a general mathematical formulation can help us describe more complex occurrences of the patterns.
Consider the price within a valid triangle as y'(t) , with support S(t) and resistance R(t) . We can describe y'(t) as follows:
y' = S + A × (R - S ) + e
with A(t) approximately periodic and in an approximate range (0,1) and e(t) as noisy component.
We can see that A(t) is subject to linear damping (the amplitude of price variations within the triangle tend to reduce linearly over time).
This model is very general and can be further developed, but it can be used as the basis for assessing the validity of triangle patterns in the next section.
5. Pattern Validity
The validity of a triangle pattern can depend on a wide variety of factors and can change from analyst to analyst.
The price concentration around the support/resistance should be relatively even, that is price should fill the triangle (as described by Bulkowski).
Bulkowski strongly suggests at least two minor highs and two minor lows should be inside the triangle formation. An additional filter is introduced by Bulkowski, the 5% failure , suggesting that a breakout should have a relative distance superior to 5% from the broken line in order to avoid reversals.
Our previous model can be used to determine the validity of a potential triangle pattern. The apex angle is directly related to the magnitude of A(t) and e(t) , with lower angle values returning a lower signal to noise ratio. This is bad since A(t) is an essential component for the structure of the triangle. If A(t) ≈ e(t) then we cannot validate the presence of a triangle pattern, since it is more likely to have been the result of noise.
6. Measure Rule
The measure rule allows anticipating the magnitude of a breakout. This allows the trader to easily set take profit/stop losses, which enables a higher control over the risk a trader would be taking trading a triangle pattern.
For ascending triangles the predicted magnitude of a breakout is equal to the value of the resistance minus the first local minima inside the triangle.
For descending triangles the predicted magnitude of a breakout is equal to the value of the first local maxima inside the triangle minus the support value.
For symmetrical triangles, the predicted magnitude of a breakout is equal to the highest local maxima inside the triangle minus the lowest local minima inside the triangle.
We can see that for ascending and descending triangles, a breakout of the non-horizontal line would imply a weaker breakout the closer the price is to the apex. In fact, the breakout magnitude would decay linearly. This is also true for symmetrical triangles. This is mentioned by Fisher (3):
- The more the price moves to the very end of a triangle, the weaker will be the breakout in either direction.
7. Theoretical Explanation Of The Occurrence Of Triangle Patterns
Explaining the presence of patterns in financial time series is a challenging task. Under a purely efficient market the presence of patterns would simply be the realization of random fluctuations.
A more challenging question would be: "how could market participants cause triangle patterns?"
If we assume that market participants cause the patterns, we know from the pattern descriptions that a mechanism inducing damped oscillatory variations exists. This oscillation is explained by Caginalp and Balenovich by two groups having asymmetric information/opinions (4).
Certain analysts describe triangle patterns as a temporary control switch between sellers and buyers, with scenarios being determined by the amount of energy exhausted by buyers and sellers.
8. Conclusion
In this post, we provided a description of triangle patterns. We highlighted the link between the signal-to-noise ratio and the apex angle of a triangle in order to determine its validity, as well as the measure rule for predicting the magnitude of a breakout.
We finally briefly mentioned the theoretical explanation behind the occurrence of triangles patterns in the market. This subject is complex and lacks further research, we highly recommend reading Caginalp & Balevonich on the subject.
Bulkowski offers an extensive number of statistics regarding triangles in his encyclopedia of chart patterns.
9. References
(1) Kaiser, J. (2016). Chart Pattern in Climate Time Series Data . Urban & Regional Resilience eJournal.
(2) Bulkowski, T. N. (2021). Encyclopedia of chart patterns . John Wiley & Sons.
(3) Fischer, R., & Fischer, J. (2003). Candlesticks, Fibonacci, and chart pattern trading tools: a synergistic strategy to enhance profits and reduce risk (Vol. 209). John Wiley & Sons.
(4) Caginalp, G., & Balevonich, D. (2003). A Theoretical Foundation for Technical Analysis . Capital Markets: Market Microstructure eJournal.
Japanese candlesticks are better than any indicator
Although indicators can help in the process of constant trading, nothing compares to Japanese candlesticks , which in themselves show who is stronger in the market, buyers or sellers.
Using technical analysis in your favor is crucial for understanding what may happen next in the market. But... Japanese candlesticks often give the clearest picture of them all.
Learn to read what Japanese candles show. Understanding who is currently dominating the market can significantly help you in acquiring additional mergers that are necessary not only to confirm your pattern but also to determine in advance what the price can do next.
Financial markets are a continuous open battlefield of buyers and sellers. Look for a strong side to be with the dominant side in the market.
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YOUR SUCCESS IN TRADING | Expectations VS Reality 💰🤔☠️
Hey traders,
Being a full-time trader & running a coaching program for the last three years, I met hundreds of struggling traders from different parts of the globe.
Guess why the majority of them could not make it? What was the main reason for their bad luck?
It wasn't their trading strategy, nor their technical analysis. The source of their failure was the expectations.
Trying different trading strategies, following the signals of different signal providers, these traders expected quick gains and exponential account growth. They were actually in a state of a constant search of a holy grail, of a magic wand that will open Pandora's box to them.
Just a single losing trade made them skeptical while the first losing streak made them drop the strategy and return back to the search.
They keep spending thousands of dollars on trading strategies promising them close to 100% win rate.
There is this common mantra, the stereotype about a pro trader:
a guy with 4 screens making a quick buck on each and every market rally, driving Lambo, and living in a mansion.
Unfortunately, the reality is different.
Ahead you will encounter loneliness, losses, pain, and disapproval.
The road to success in this game is long and dangerous.
Get ready to see the skepticism in the eyes of your relatives and friends. Many years and tons of money must be spent in order to make it.
But even mastering the system, becoming a consistently profitable trader you will not constantly beat the market. Your wins will just slightly outperform your losses giving you the means for living.
If you are ready for that if you are courageous enough to start and to proceed no matter what, you are already one step ahead of the majority. Be prepared to work hard and practice much, set a correct goal, and sacrifice your presence for the sake of an independent and prosperous future.
Are you ready?
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Complex head and shoulders patternHead and shoulders pattern are one of the most reliable patterns with extensive academic evidence supporting its use to improve trading profitability.
Head and shoulders pattern in the real world often look far more complex and a lot messier than the textbook images.
CADJPY: ANALYSISWe saw a strong impulsive move to the downside after a long corrective phase. We shall now keep watch on what may appear to be a small flag formation before we decide whether we will take more pips to the downside or maintain a corrective phase in the meanwhile.
Share your thoughts and suggestions are welcome! Happy trading!
Open Tutorial ⚪ How To Never Lose Money? "Losing is the part of the game."
- said the loser and kept losing.
Are you a loser?
Or do you open your mind?
Losers lose because they BELIEVE in their loss.
They refuse to comprehend reality.
In reality, you can't learn from failures.
A loss is a loss.
Nothing more.
In truth, you can learn only from successes.
But what if you only lost so far?
Good news:
It doesn't have to be your success.
You can learn from the success of others.
Let's specify an ideal strategy.
The ideal strategy is never wrong.
You don't have to know this strategy.
It suffices if it exists.
Somewhere.
To someone.
We experimented with pattern matching + AI a lot.
Our theory:
Wedges can approximate any strategy.
You can draw wedges.
You don't have to know an ideal strategy.
Yet you can approximate it with wedges.
Is it possible to learn this power?
Not from a Jedi.
What we know:
It works on all major cryptocurrencies with USDT.
+100% profit on BTC/USDT:
It works on altcoins.
+200% profit on XEM/USDT (x10):
It works on cryptocurrency-cryptocurrency pairs.
+300% profit on TVKBTC (x10):
Thus, +100% success rate.
More than +700% profit.
All within a week.
"One stoke, two halves."
- said the winner and kept winning.
Your Strength Meter For Candlestick | Best Momentum Indicator 🕯
Hey traders,
There are multiple different ways to measure the strength of the market reversal from a key level:
✔️some traders apply volumes and look for its sudden spike as a confirmation,
✔️some traders rely on some indicators and look for a particular trigger there as the signal,
✔️some traders, like me, follow the candlesticks and make their judgments based on the candle's strength.
In this article, I prepared for you a candlestick strength meter that will help you to accurately spot the reversal clues.
❗️Remember about the important precondition:
that candlestick meter is reliable being applied ONLY on key levels.
Trading that outside key levels is not recommendable.
📈The initial touch of a key level is very telling:
after a sharp bullish/bearish rally to key resistance/support the reaction of the price on that can indicate you the strength of the identified level.
There are three main classifications of the reversal candle momentum:
*by reversal candle we mean the first bullish candle on key support or the first bearish candle on key resistance.
1️⃣The momentum will be considered to be low in case if the reversal candle will close within the range of the previous candle.
It indicates the weakness of bulls buying from support / bears selling from resistance.
You should patiently WAIT for some other signal before you open the trade.
2️⃣The momentum will be considered to be medium in case if the reversal candle will engulf the range of the previous candle.
It shows quite a strong initial reaction being sufficient to open the trade ONLY in a strict combination with some other signal.
3️⃣The momentum will be considered to be high in case if the reversal candle engulfs the range of the last two candles (two bearish or two bullish).
By itself, it is considered to be a strong reversal signal.
The trading position can be opened just based on such a candle.
Among the dozens of different candlestick pattern formations, I believe that momentum candles are one of the most reliable in spotting the market reversal.
Learn to spot these candles and you will be surprised how accurate they are.
What candlestick pattern formations do you want to learn in the next post?🤓
❤️Please, support my work with like and comment!❤️
Tutorial | How To "Roll" Stock Futures Contracts (When & Why)Futures contracts are derivatives with expiration dates like options. The stock indices expire quarterly on the last month of each quarter. In this tutorial, I show how to roll forward or rollover and easily add the new front month contract to a watchlist.
Formation of consolidation according to Wyckoff (addition)Hello amateurs and professionals😎. I would like to add a few clarifications to my previous post about the Wyckoff accumulative model
PS - preliminary support. The moment a large buyer appeared, who stopped the market and decided to gain a position. Volume increases and the price spread widens, signaling that the downtrend is nearing its end.
SC is the maximum point of sale. Large mass sales by the public are consumed by larger professional interests at or near the bottom. Often the price forms buyout bars - it closes far from the low in SC, reflecting buying from these large interests.
AR is an automatic rally that occurs when sellers begin to weaken and change sides or exit the market. A wave of purchases easily pushes prices up; this is further fueled by a short cover. The high of this rally will help determine the upper limit of the cumulative TR.
ST - a retest attempt, in which the price revisits the SC area to set the position by a large player. If a bottom is to be confirmed, volume and price spread should be significantly reduced as the market approaches support in the SC area. Usually several STs are placed after SC.
Nuance. False breakouts or shakes occur late in the TR and allow large players to check on stock before the mark-up campaign unfolds. The “spring” pushes the price below the low of the TR, and then reverses and closes within the TR; this action allows large players to confuse with the direction of the trend, increase liquidity and enter the market at a favorable price.
However, the springs and knockout of the leads are not required elements: the accumulation diagram 1 shows a spring, and the accumulation diagram 2 shows a TR without a spring.
Test. Large players check the market for supply throughout the TK (eg ST and springs) and at key points during price increases. If there is a significant supply during testing, it can be seen by volume, the market is often not ready for the markup. The spring is often followed by one or more tests; a successful test updates tops with insignificant volume.
SOS - Volume appears and a major player is identified with direction. Often, an emergency signal occurs after a shake.
LPS is the last point of support. Some charts may have more than one LPS despite the supposedly extreme accuracy of the term.
BU - "back-up" - backups are a common building block prior to larger price increases and can take many forms, including a simple rollback or a new TR at a higher level.
-------------------
Share your opinion in the comments and support the idea with Like.
Thanks for your support!
info taken from WyckoffAnalysis
Smart Money CONCEPTS - Can you relate?Here is an overview of (to me) why support and resistance don't work (at a successful enough rate).
If you feel like this is the case be honest with yourself. And maybe try something new. please remember the 90 90 90 rule!!!
90% of traders
Lose 90% of their account
In the first 90days
Have a little think as to why?
For the majority of newbie traders that enter the market.. the first thing they are taught to understand?
Support and Resistance, Trendlines, Fibonacci (does work if used correctly)
So just be mindful of what the banks are doing and understand from their perspective that if they know the MAJORITY trade Support and Resistance... Don't you think they know where the majority of the people stop losses are going to be? ...
Any questions feel free to ask
What is Support and Resistance?If you have ever looked at a chart or made a trade then you have most likely heard of support and resistance, but everyone has their own approach to identifying and trading it.
What is it?
Support is an area where there is a surplus of buyers. When price enters this area the buying pressure is stronger and price increases.
Resistance is an area where there is a surplus of sellers. When price enters this area the selling pressure is stronger and price falls.
How is support and resistance formed?
As price moves up buying pressure will gradually decrease until the selling pressure becomes the dominant force. When this happens, the area become resistance .
When the selling pressure is stronger than the buying pressure the price will start to retrace (also known as a pullback). Price will continue to retrace until buying pressure becomes the dominant force again. When this happens, the area becomes support .
How to plot support and resistance
You’ll often see support and resistance plotted as a single thin line on the previous low or high. It is important to remember that support and resistance are areas not exact numbers. Buy and sell orders will be scattered throughout the area, not just on the exact high or low, so we should draw our support and resistance as an area, not a single line.
How to trade support and resistance
Trade the bounce
Buy when price bounces on support
Sell when price bounces off resistance
Trade the break
Buy when price pushes through resistance
Sell when price falls through support
Important things to remember
When price breaks through an area of resistance, that area has potential to turn into support. Likewise, when price breaks through an area of support, the area has potential to turn into resistance.
Price will often revisit an area of support or resistance multiple times. The more times this happens, the weaker the area becomes and the more likely price is to break through. This happens because every time price visits that area the orders are absorbed, and the next time it visits the area there are fewer orders. Fewer orders make the area easier to break through.
Share your thoughts in the comment section below.
Happy trading!
Learn How to Trade Double Bottom Formation | Full Guide 📚
Hey traders,
If you are learning price action trading, you definitely must know a double bottom pattern.
Double bottom is a reversal pattern.
It is applied to spot early market reversal clues and catch the initiation of a new bullish trend.
Preconditions for a double bottom:
1️⃣ The market must trade in a bearish trend.
2️⃣ After a formation of the last lower high, the price must set equal low.
3️⃣ The price must return back to the last lower high level.
✅Once these conditions are met the pattern is considered to be completed.
The formation of the pattern is considered to be a ⚠️WARNING sign.
Even though many traders buy the pattern once it is completed,
for me it is not enough.
❗️Remember that the price can easily start to consolidate and form a horizontal channel for example.
The trigger that we will look for is the breakout (candle close above) the last lower high level (based on a wick and its highest candle close) - the neckline.
Being broken to the upside, the market sets a new higher high.
It signifies a violation of a current bearish trend.
⬆️Attempting to catch an initiation of a bullish trend, we will buy the market with a buy limit order on a retest of a broken neckline.
❌Safest stop will lie below the lows of the pattern.
💰Your reward must be at least 1.5 of your risk.
Following these simple rules, you will be impressed by how accurate this pattern is!
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TRADING BASICS | What is a Pip? 📚
📏Pip is a measurement of the price change in a currency pair trading on the forex market. In most cases, pip is the equivalent to 1/100th of 1%.
That rule is applicable to all the currency pairs quoted to the 4th decimal place like EURUSD.
➡️Current EURUSD price is 1.1696
6 is the 4th decimal place representing a pip.
If the pair moves from 1.1696 to 1.1697, that 0.0001 USD rise in value is ONE PIP.
❌That rule is not applicable, for example, to USDJPY which is only quoted to 2 decimal places.
➡️Current USDJPY price is 109.62
2 is the 2nd decimal place representing a pip.
If the pair moves from 109.62 to 109.63, that 0.01 JPY rise in value is ONE PIP.
🦉The word pip stands for "price interest point" or "percentage in point".
Even though a pip might appear as an extremely small unit of measurement, in leverage trading even the one pip price change of the instrument may lead to a sufficient gain or loss.
➗How to calculate the value of a pip?
Each and every currency has its own relative value.
In the following example, I will show you how to calculate the value of a pip for a particular currency pair.
USD/CAD = 1.2753
Reading that as 1 USD to 1.2753 CAD or 1 USD / 1.2753 CAD
1 Pip =
* 1 USD = 0.00007841 per unit traded.
Following this example, if we trade 10.000 units of USD/CAD, then a one pip change to the exchange rate would be approximately 0.78 USD change in the position value.
Alternatively, pip value can be calculated with various calculators & apps.
I hope that with these examples and my explanation you will understand the concept of a pip easily.
Let me know what do you want to learn in the next posts!
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Where do you place your stop-loss? 🌐Where do you place your stop loss? 🌐
First, read our tutorial about market orders and limit orders:
Your stop-loss is such a limit order that you place above the point of collision of the trend lines that print the technical pattern on your chart:
- If you've got a Bullish Pattern (Bullish Wedge or Bullish Pennant), you place it below the pattern.
- If you've got a Bearish Pattern (Bearish Wedge or Bearish Pennant), you place it above the pattern.
In channels (Bullish Flag or Bearish Flag), you do not place the stop loss outside the pattern because you put it inside your channel around the point where the price last touched the left trendline.
Where would you place your stop loss in the pattern above?
(The solution's in a comment.)
Regards,
OXY
IMPROVE YOUR TRADING | 4 TYPES OF TRADE CONFIRMATION ✅👌
"Look for a confirmation!"
"Wait for a confirmation!"
When I was learning how to trade and when I was watching and reading different trading educators, these words naturally pissed me off. What the hell are you talking about? What confirmation?
It was a full-blown mystery...🤯
Then, once I started to mature in trading and trade full-time, I became an author on TradingView.
Posting my forecasts and trading setups, I frequently mentioned the confirmation.
And now the newbies that are reading me and learning from me are pissed off...🤬
That is so funny I guess.
But the truth is that the confirmation must become a fundamental part of your trading strategy. It is your key to successful trading.
What exactly is the confirmation?
It depends on many many different things, in this article I will discuss with you the 4 main types of confirmation and give you detailed examples.
1️⃣ - PRICE ACTION CONFIRMATION
That is actually what I prefer.
Analyzing different markets and searching for decent trading opportunities often times we find some peculiar instruments to watch.
Identifying the market trend and key levels we find the potential spots to trade from.
But do we just open the trade once the "ZONE" is spotted?
I wish it could be that simple...
Trading just the zone, without additional clues brings very negative figures. We definitely need something else.
Price action & candlestick patterns can be those clues.
Accurate reflection of the current local market sentiment makes the patterns a very reliable confirmation.
Dodji's, pin bars, double tops/bottoms ...
Proven by history, the skill of identification & reading the patterns will pay off quickly.
Being in some sense the language of the market, the patterns are the fundamental part of my trading strategy.
2️⃣ - FIBONACCI LEVELS
Fibonacci levels are a very popular technical tool. Being applied properly it helps the trader to confirm or, alternatively, disqualify the identified "ZONE".
With multiple different methods like confluence trading, fibs are applied in hedge funds and various banking institutions.
The main problem with the fibs, however, is complexity and a high degree of subjectivity. Meeting different traders and watching different posts on TradingView I noticed that all traders tend to have their own vision. There is no universal system to apply here, a proper fib.confirmation technique can be built only with long-lasting backtesting and practicing.
3️⃣ - FUNDAMENTAL NEWS
The figures in the economic calendar, news, tweets. Actual fundamental news can become your best confirmation tool.
However, the main obstacle right here is the promptness, validity and reliability of the data that you get.
The information shouldn't be delayed and it must be objectively true.
The search for such a source is by itself is a very time-consuming and labor-intensive business not even mentioning its potential costs.
And that is not all. Knowing how to make sense of that data, its proper perception, and understanding requires a solid economical and financial background and experience.
At the end of the day, becoming an expert in fundamental analysis , the trader can easily sort the trading zones and trade only the ones that are confirmed by a decent fundamental trigger.
4️⃣ - TECHNICAL INDICATORS
I believe all the traders apply some indicators. From a simple moving average to some complex composite algorithms, indicators play a very important role in trading.
Being 100% objective and providing up-to-date real numbers and figures, they are our allies in a battle against subjectivity.
For many traders, the various signals from indicators are considered to be accurate and reliable confirmations.
Many algotrading solutions are operating simply relying on such signals and being able to bring consistent profits proves the power of technical indicators.
What confirmation type should you rely on?🧐
I guess the main rule right here is that the confirmation must MAKE SENSE to you. You should feel the logic behind that. It must make you confident in your action, even in case of the occasional losses, it must keep you calm and humble.
Let me know in a comment section what confirmation do you prefer!
💝Please, support my work with like and comment!
Thank you for reading.