Price chart is a very powerful and reliable tool IF one understand what it delivers. The chart become a reliable tool and weapon as long one DOES NOT abuse what it can do or suppose to do.
We as human act upon PRICE movement and we crave for actions. THIS IS THE BEST DISASTER Recipe couple with intra day charting.
ONE has to decide WHICH TIME FRAME becomes the anchor TREND time frame. Are you going to follow the trend of the anchor time frame? or Are you going to TRADE/SCALP using the lower time frame around the ANCHOR trend?
Up to now I didn't touch on all the jargon of candlesticks and what not. Focus on trend and time frame.
When one start to imagine and hallucinate over all the patterns and jerks on the price chart, one cant help but to be drunk and drunk driving is NOT the best approach in market.
Every indicators developed measures "something" and one has to identify what it measures and how it relates to trend. The abuse come when users ignorantly use them to identify BUY and SELL signals.
I have emphasize about trends, one also need to learn and understand the development inside the trend from the start to the end of an up move and down move.
If the market is easily conquer just using charts without the need to understand the whole universal chart knowledge than anyone can pick up a chart and just print money.
One has to unplug that candlestick is the holy grail. TREND HAS NOTHING TO DO WITH CANDLESTICK. Irrespective how the candlestick develops, the trend will go its own way until it is ready to change. If we keep reacting to every candlestick, we will all be too busy to focus on trend
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