Forex Forum @ ForexAbode
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8 posts • Page 1 of 1
I was wondering what time frames you tend to look at for your charts? Also what technical indicator combination do you use to determine a reversal for trends? I know there are a lot of indicators, however I like to find out what everyone's favorite indicators are. I like to compare them to mine. I have been trading for 1 week, with a deposit of $5000. Currently I am at $5900. I like to look at the 5/15/30 minute chart to buy or short. I like to buy or short based off if all my indicators are showing a good signal to buy or short. I also put a stop-loss in case of a fake-out. I really do not like to hold any positions before I log off my account. I would appreciate any advice you can give.
You must of been trading for some time now. Based on your experience, what technical indicators have been the most consistent for you before you make an entry point.
1) Basically I trade for both, short-term positions which may last for one day or maximum 2 and longer term which may even for for a week or more.
2) I always start with daily chart for the overall mid-term direction and then hourly chart. For short-term trades I also check 15 minutes chart for entry/exit.
3) For indicators I like to keep it simple. My favorites are EMA crossovers, Fibonacci retracements and Ichimoku cloud but I also keep a track of ADX and MACD. I mentione some of these in the weekend outlook/analysis. But yes, I also keep an eye on the fundamentals/economic releases.
4) I never make my decision for entry/exit based on confirmation of multiple indicators. I may use complementing indicators like ADX for strength indicaton and then MACD or Ichimoku or EMA crossovers for entry exit. I keep on posting some articles in the technical analysis/indicator section (not the analysis it self but learning/refining the analysis page). In fact I would love to have other traders sharing their strategies etc also
I agree with the quoted points and it's really important to keep an eye on charts of different time frame.
Mainly EUR/USD, EUR/JPY, USD/CHF, AUD/JPY, AUD/USD... in fact to make it simple, the 8 currency pairs for which ForexAbode also updates the analysis. Out of these EUR/USD takes the first place.
In this post I want to say you that Forex is a risky trading company. So, at first you must know how the indicators work. Indicators sometimes go up and sometimes go low. Which is the better for you? To get Brokers support you should contact Capital One Forex Ltd. our Website is---- www.capitaloneforex.com. Please contact as soon as possible.
8 posts • Page 1 of 1
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