TRADING
As most of you are aware the markets move in waves,cycles,swings ,whatever you want to call them it does not matter.
We use these swings to trade a trend and to trade with the trend ,we use major swings corrections for trading a trend and minor swing corrections for trading with the trend both have advantages and disadvantages.
How you view the waves,swings,cycles is up to you it does not matter ,some people like to use a clean chart with no indicators ,personally i prefer to use some indicators to aid me in viewing the swings but i will always validate each swing using price.
As for entries i mainly use the 2b , 123 or contracting triangle continuation patterns,some traders like to use candlestick analysis the main thing is to use an entry method that is consistent.
As for timeframes if i trade the daily trend ,i will confirm the swings on the 4 hour and take entries from the 60 minute.
I do sometimes trade a single wave ,(eg the daily price is rising but its not a daily trend ) and i will still confirm the swing on the 4hour with entries on the 60 minute.
The same applies to any combination of timeframes you choose with a factor of 4-5 this allows us to view the internal structure of each wave.
nicholas
www.123-trend-trading.com
As most of you are aware the markets move in waves,cycles,swings ,whatever you want to call them it does not matter.
We use these swings to trade a trend and to trade with the trend ,we use major swings corrections for trading a trend and minor swing corrections for trading with the trend both have advantages and disadvantages.
How you view the waves,swings,cycles is up to you it does not matter ,some people like to use a clean chart with no indicators ,personally i prefer to use some indicators to aid me in viewing the swings but i will always validate each swing using price.
As for entries i mainly use the 2b , 123 or contracting triangle continuation patterns,some traders like to use candlestick analysis the main thing is to use an entry method that is consistent.
As for timeframes if i trade the daily trend ,i will confirm the swings on the 4 hour and take entries from the 60 minute.
I do sometimes trade a single wave ,(eg the daily price is rising but its not a daily trend ) and i will still confirm the swing on the 4hour with entries on the 60 minute.
The same applies to any combination of timeframes you choose with a factor of 4-5 this allows us to view the internal structure of each wave.
nicholas
www.123-trend-trading.com