I want to know, do you Correlate timeframes in your Trading Strategy
I want to know,do you correlate timeframes in your Trading Strategy?
Candlestick Charts – Your Ultimate Analysis Tool
Technical analysis provides traders with tools to assist them in realizing the goal of trading.
As technical analysts, it is trader’s goal to form a view regarding whether a particular share is going up, going down, or moving in a sideways band.
Even though there are only three directions in which a share can move, it is sometimes a tricky task to see exactly what a share is doing.
When first looking at a chart, get to the grass roots level and have a good look at a share’s price action.
You can use a bar chart, a line chart or a candlestick chart.
The markets are made up of people’s emotions towards shares.
If they predominantly feel fear that they will lose their capital or profits, then the share price will ultimately decrease.
If the participants mainly feel greed or hope, the share price will go up.
A chart will show this interplay of emotion in a graphic format.
The individual building block of a bar chart is a single bar.
Drawing a single bar requires an opening price, a high, a low and a closing price.
The vertical line shows the high and low of that period.
In many traders’ views, using a candlestick chart is clearly superior to using a bar chart or a line chart.
It may take a bit of effort to learn how to interpret these types of charts, but it will give you an edge over other traders in the market.
The predictions expert candlestick analysts give are better than bar chart predictions and can get a very good tool for any enter or exit in the trade.
The reversal patterns help the traders to understand the market trend before any trend change happen.
That’s why candlestick patterns are becoming popular to the traders with time.http://www.candlestick-trading.com/sell-entry-strategy/
If open bar is near previous bar low then sell Entry Strategy