{quote} Then it is already in the thread Regards Nut
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It all sounds a bit nutty to me but I had enough good time amusing myself reading all that trading stuff about giving back only to say no thank you and you can keep all to yourself and prosper. Hehehe
{quote} It all sounds a bit nutty to me but I had enough good time amusing myself reading all that trading stuff about giving back only to say no thank you and you can keep all to yourself and prosper. Hehehe
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Glad you were able to amuse yourself, nobody is forcing you to even read the thread let alone use anything from the thread. Your cynicism about giving back I find mildly offensive but it takes all sorts to make a world.
{quote} Glad you were able to amuse yourself, nobody is forcing you to even read the thread let alone use anything from the thread. Your cynicism about giving back I find mildly offensive but it takes all sorts to make a world.
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I don't mean to amuse myself at your expense its just my usual demeanor and forgive me if you are offended. Still wanna learn how you promise to teach fibbing.
what time frame to check for trend? weekly or monthly candle?
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A good question as a general rule I start with the weekly and work down the time frames. I guess like most people do. Though recently I have begun to question myself as to this approach, the price is price irrespective of time. A longer time frame gives the same price but does it imply more potency than say a shorter timeframe. I don't know the answer and am still trying to get my head around the question. Personally, I think prices are fractal in nature, that is fractal as in say a Mandelbrot sense of the term.
Perhaps one day I might have an answer, then perhaps not(lol). I need to think this through in the pub. Meantime I shall continue working down the timeframes. Thanks for the question.
Nut
You're probably in an uptrend if all the bars are entirely above the 20EMA (strong trend) or close above the 20EMA (weak, or weakening trend). And the EMA is sloping up. And there are no visible higher highs on the far left of the screen.
You're probably in a downtrend if the 20EMA is sloping down and all the bars are entirely below (strong trend) or close below the 20EMA (weak, or weakening trend). And there are no visible lower lows on the far left of the screen.
NB weak trends (channels) would dip below the 20EMA, but I would raise the timeframe to see if these rules still hold.
How long the trend is going to last however - well that's the hard part. We've all at some point made loads of $$$$ in a great trend only for the market to take it all back.
OK, some fibs. the chart is a 30sec chart of AUDUSD today's price action. Please understand I shall not be explaining my unconventional method of using fibs again. A whole thread is devoted to this topic. Please read it and experiment.
I chose the 30 sec chart so we might get plenty of action to measure. Chart 1 a good rally to the 61.8 which failed to hold, then a pullback and an upthrust back to 61.8 which failed to reach new highs then a sell-off.
Chart 2 the sell-off. this chart is to me self-explanatory if you have read the thread on fibs.
Chart 3
Once again pretty much self explanatory. The uptrend displays Higher Highs folowwed by pullbacks and currently is trying to find support on the zero line.
OK, some fibs. the chart is a 30sec chart of AUDUSD today's price action. Please understand I shall not be explaining my unconventional method of using fibs again. A whole thread is devoted to this topic. Please read it and experiment. https://www.forexfactory.com/showthread.php?t=783555 I chose the 30 sec chart so we might get plenty of action to measure. Chart 1 a good rally to the 61.8 which failed to hold, then a pullback and an upthrust back to 61.8 which failed to reach new highs then a sell-off. Chart 2 the sell-off. this chart...
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Once the market engulfs a candle which matches the trend, that is the start of a possible reversal. Dooes it make a 50% or 100% correction? almoat every move has a correction at some point. The same moves we see on the hourly are seen on a 30sec chart. Maybe we should focus on entering into patterns before they are comfirmed and exiting once they are.
{quote} Then pls enlighten everybody with your definition
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Well for starters it isn't singular and by this i mean there are generally at least 2 observable trends in the works at any given time. The longer term trends can last months or more and short term trends that fluctuate around the long term trend which last one or more sessions. The longer term is driven by macro and the short term is driven by fundamental and political data releases.
