Hey Forex Factory Traders, Its been a little while since i come on here. Been a bit busy but anyway I saw some trading threads regarding sharing profitable methods or styles and i would like to share a method i use that works pretty well. This may be a bit long but ill try to keep it as short as possible while explaining. Also, by no means is this a "magic" or "Super" method but very simple that im sure millions of traders use out there, however, many traders fail to see or use. Anyway im just trying to help fellow traders who may need some help. here we go.
I use bestfreecharts.com so thats what i am going to show here.
Lets take a Recent E/U 1HR chart....... First thing i do is zoom out as much as i can to get a zoomed out look at what price has been doing....
Second,... I Use a tool called "Regression Channel"..
Third,... I draw the channel from the start of the zoomed out chart to the end of where price is currently at OR adjust the trend so that the upper trendlines align with the tip of price reversal points.
Fourth,.... now that we have our zoomed out chart with the channels, Where do we enter? In this particular example. i will mark areas of decent shorting spots and why.
I will post some more examples. Again this is very simple stuff that many traders use and works quite well.
I use bestfreecharts.com so thats what i am going to show here.
Lets take a Recent E/U 1HR chart....... First thing i do is zoom out as much as i can to get a zoomed out look at what price has been doing....
Second,... I Use a tool called "Regression Channel"..
Third,... I draw the channel from the start of the zoomed out chart to the end of where price is currently at OR adjust the trend so that the upper trendlines align with the tip of price reversal points.
Fourth,.... now that we have our zoomed out chart with the channels, Where do we enter? In this particular example. i will mark areas of decent shorting spots and why.
I will post some more examples. Again this is very simple stuff that many traders use and works quite well.
"The market doesn't beat them, they beat themselves" - J. Livermore