Best method to identify trend in forex - page 6
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Hi,
A safe way to trade safely. You need to find trades after at least three Time Frames, watch first at 4H after 30M and then at 5 M. Set two MAs, one 20 and another 40. Open a demo account to start. By changing TF over time you will understand the trend. After you have doubled the amount on the demo account, you can open a real account, starting with $ 100, at a maximum volume of 0.01. After doubling the amount, increase the volume by 0.02. It is not an easy path, it can take 1.2..5 years to start to be successful as a trader, but if you do everything right and have patience, you will become a successful trader.
My best strategy to trade the trend is Ichimoku.That's a good way to determine the direction of the market.
I'm working with and it gives good opportunities.
What's Ichimoku?
Ichimoku is standard indicator in Metatrader.
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Ichimoku
The beginning
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Educational video:
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Other than ichimoku and moving average, harmonic patterns are good too to identify trend reversal.
I´ll study Harmonic Patterns... I think it can be very promissing... and we can make numeric calculation with then and use them for trading with expert advisors... do you have any reference material? Tks.
To Identify a trend:
After a downward and the market makes a higher low followed by a higher high a new upward trend is born. As long as the new upward trend continues to make higher highs and higher lows the upward trend will continue. Once the market makes a lower high followed by a lower low the upward trend is over and a new downward trend is form.
To Identify a Range:
In an upward trend and the market makes a new high price that is equal in price as the previous higher high price a new ranging market is suspected. When the market then makes a lower high that is equal in price as the most recent lower high the ranging market is confirmed. The opposite is true when a ranging market is formed during a downward trend.
Just a moving average depending on the time frame you use, it will def do its job until the trend ends or fails to follow through.
I found that using highs and lows is not recommended since they are broken many times in trends.
if the long period ma is sloping up, 200? the trend is up regardless if price is above or below it.
To have an uptrend it means that price is forming higher highs with lower lows. The opposite is true for downtrends. The moment that price no longer makes higher high, and instead makes a double or triple top (or lower high) then the trend changes to either sideways or it completely reverses.