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Does a resistance/support line get weaker the more it is tested by price? Replied 1 week ago - Another school of thought said a support or resistance level broken with a momentum candle stick will always hold.
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what is the best indicator for spotting support & resistance on charts? Replied 1 week ago - Pivot Points Indicator. Pivot point indicators automatically calculate: PP (pivot) Support levels (S1, S2, S3) Resistance levels (R1, R2, R3) ✔ Great for intraday trading ✔ Easy to read ✔ Works well in forex, indices, metals
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what is pivot point in trading Replied 1 week ago - A pivot point (PP) is a calculated price level that acts as the central reference for the day. From it, several support (S1, S2, S3) and resistance (R1, R2, R3) levels are derived. It helps traders answer: “Where might the price reverse today?” “Where could support or resistance hold?”
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do we expect too much from technical indicators? Replied 1 week ago - You are right though. I tried them before and did not work for me.
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what is retracement in forex? Replied 1 week ago - Retracements are always the nemesis of beginner traders, they close their trades at the sight of any opposite candle. Traders need to figure out a way of spotting retracements so as not to get spooked out of the market by them. This means having an objective exit plan. Although there are lots of indicators and tools out there that help you spot retracements (such as Fibonacci tool) most of them are unreliable. For me what I do is I always exit trades on a 15 minute time frame to give room for error. So if price starts falling, it must fall on a 15-minute time frame before I see it as a threat.
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what do gaps on my forex chart mean? Replied 3 weeks ago - A gap is an area on the chart where the price of a currency pair moves sharply up or down with little or no trading in between. As a result, the bar or candlestick shows a gap in the normal price pattern.
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do you buy at resistance or support? Replied 3 weeks ago - The support zone is a price level where buyers usually come in. That level prevents price from falling further. Resistance zone is a price level where sellers usually come in . That level prevents price from rising further. Personally, I love seeing multiple candle rejections at a particular support level before buying, the rejections at that level signifies that buyers are strong at that level. The same applies for the resistance level.
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are wicks important in trading? Replied 1 month ago - Wicks are important especially when trying to mark out trading sessions on the chart
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should i buy a rising market? Replied 1 month ago - A rising market indicates a bullish trend but it’s not enough reason to execute a trade. There will always be a retracement in every rising market, you need to position yourself for those retracement to be able to be a part of the bullish movement.
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Technical vs fundamental analysis, which should i prioritize? Replied 1 month ago - Personally, I prioritize technicals. I’m not so good at fundamentals. Well, based on experience technicals can make you a profitable trader. There’s no crime in mastering both though.
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My Usdjpy swing analysis based on slp strategy Replied 1 month ago - Your'e waiting for price to rise to 159.23 level before you take a sell?
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First trade of the week on Btcusd Replied 1 month ago - bro why did you choose 92366 level as your order block?
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4 pairs that works best with the slp strategy Replied 1 month ago - Ps what is the meaning of slp strategy? how does it work?
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should i trade on the one-hour timeframe? Replied 1 month ago - Bro 1 hour time frame is too big to trade with. There ae some little details you will not be seeing on 1 hour. For me I use 15 minute timeframe for entry and 10 minute timeframe for exit.
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I always pay attention to candestick wicks, heres why Replied 2 months ago - I spotted another wick at 1.1658 and if you follow the trace of the blue arrow line, you will notice a bullish engulfing pattern formed at the 1.1658 level resulting in an upward rally
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why does price move back & forth within a range? Replied 2 months ago - The dominant trend is a bullish engulfing signalling a buy. Price has not been able to close below the bullish engulfing pattern hence the support linne i drew.
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what is the best simple moving average setting? Replied 3 months ago - For length, I use 14 days because I am mostly a day trader. Some people who are swing traders use as high as 200 days.
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what is top down analysis in trading? Replied 4 months ago - When I switch to the lower 5-minute time frame, you will notice that the previous month low is acting as resistance to price, causing a downward movement after retest. This is a classic example of how top-down analysis can be applied to trading.
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what tdi indicator settings do you use? Replied 4 months ago - Never heard of this one, how does it work?
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does technical analysis work better on stocks or forex? Replied 5 months ago - I have traded both stocks & forex cfds and in my opinion technical analysis is more effective when trading forex.
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