Hello everyone! Today I want to discuss with you the methods of trend identification.
Finding a trend is an important task, because it is by trading according to the trend that you can earn a lot of money.
PATTERNS Thanks to the patterns, you can understand where the price will go. There are many patterns confirming the trend: flag, pennant, wedge, and so on.
The exit from these patterns is the confirmation of the strength of the main trend. Follow the patterns, they will help you find the trend.
MA Moving Average is an important trend indicator and is quite clear and simple. The moving average is used by analysts in large banks and funds for a reason.
The main trend indicator is the price rebound from the moving average.
If the price bounces from the moving average towards the trend, then the trend is strong.
CHANNELS The trend pushes the price in one direction and even the corrections become shorter.
Under such conditions, the channel boundaries are directed towards the trend. Channel breakouts also occur in the direction of the trend, which is a confirmation of the trend.
FIBONACCI Thanks to the Fibonacci levels, you can identify good entry points.
It is enough to stretch the grid to the price impulse.
This trend helps to open a position with a good entry point.
And what methods do you use to identify the trend?
Traders, if you liked this idea or if you have an opinion about it, write in the comments. I will be glad 👩💻
A very good summary of the accepted way of trading. Follow the herd to ensure you are one of the 95% that lose.
bsw4650
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@ScalpWthMe I feel like half of the comments are bots or people that have never googled stock indicators. Sure the three she listed out were nice but didn’t even say how to use them and the patterns only had up swings… might have to start my own educational channel
ScalpWthMe
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@bsw4650, you are being too kind - it seems more like 90% of comments are from bots.
AndyMe
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@bsw4650 that's my observation too. My ques 1) what time frame? 2) how to enter use Fibonacci to enter?
JoeChampion
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Great!
Lingrid
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What do you think about this topic?
needfulSeagull72410
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@Lingrid, hi lingrid if 1h candel close below 1812 .gold go to the 1806 and my target ia1804
dipu_don
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@Lingrid can you share your thoughts on stoploss??