DislikedLITEChild can you learn us how to trade with Weekly trend ?? How you use it ?Ignored
Remember, a classic, complete trading system should consist of ways to quantify
1. Currency Strength/Weakness
2. Trend
3. Sentiment
4. Momentum
5. Volatility
6. Retracements
7. Entries
8. Time Action(as opposed to Price Action)
9. Risk, Trade and Money Management
10. Trading Goals.
For me, the Weekly close(or open) is just one of the tools that helps in quantifying Sentiment.
The biggest challenge is putting it all together in a coherent and functional way to achieve your ultimate trading goals.
How you decide to define and quantify each of these parameters will depend to a large extent on what type of trader you are comfortable being. Are you a scalper, day trader, swing trader, long term, etc? Do you trade using a 'machine gun' style, or are you a 'sniper'?. One other thing I have found quite useful has been learning to ask the right questions, as opposed to simply looking for what i assumed were the right answers. It made all the difference. Hope this helps you on your trading journey.
Understanding liquidity, Time Action and Price Action is priceless!