Hi Folks,
Here are some practice charts to illustrate how I view my charts using the Day candle and trade on timeframes like H1 and H4.
Remember, the Open High Low and Close of Prev D and Prev W can be use as 'natural support & resistance' too. You need to look at each chart and see where previous price swing were and if there is confluence with these OHLC and also the BRN.
We look for high probability types of setups and trade them with money management. Some setups will fail and that is why we must use stops to protect our trading capital and accept some losses. Keep losses small, but know how to 'let profits run' and recover small losses. Practice on demo account in l;ive market conditions to test your trading skills and also your money management and risk management strategy. Don't over emphasize on technical stuff like TDI crossing, TDI angle, etc. and miss out what the real price is telling us. Observe the price behaviour and its relation its price momentum shown by the TDI. We want both to be in synergy when we take a trade setup.
regards,
Here are some practice charts to illustrate how I view my charts using the Day candle and trade on timeframes like H1 and H4.
Remember, the Open High Low and Close of Prev D and Prev W can be use as 'natural support & resistance' too. You need to look at each chart and see where previous price swing were and if there is confluence with these OHLC and also the BRN.
We look for high probability types of setups and trade them with money management. Some setups will fail and that is why we must use stops to protect our trading capital and accept some losses. Keep losses small, but know how to 'let profits run' and recover small losses. Practice on demo account in l;ive market conditions to test your trading skills and also your money management and risk management strategy. Don't over emphasize on technical stuff like TDI crossing, TDI angle, etc. and miss out what the real price is telling us. Observe the price behaviour and its relation its price momentum shown by the TDI. We want both to be in synergy when we take a trade setup.
regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett