This chart shows how TREND (Moving Average) + MOMENTUM (RSI) gives good conviction to take trade
Comment:
Red candle - Bearish Momentum
Black candle - Momentum drop
Green candle - Bullish Momentum
Green line - Daily Trend turns Bullish
Red line - Daily Trend turns Bearish
When market in Range, SL Will HIT. Horizontal/Trend line break is needed.
Moving Average, RSI Indicators lengths are adjusted as per trader choice.
This chart shows only how Technical Indicators help in taking decision, not about any specific indicators.
Every Indicator in Market works, Just need to stick with any combination of (1 Trend Indicator, 1 Momentum, 1 Volatility, Volume, Price, Chart pattern, Candlestick)
How long you want to hold depends on Chart Time frame you are looking at.
Always check Higher Time Frame before locking your bias
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Black candle - Momentum drop
Green candle - Bullish Momentum
Green line - Daily Trend turns Bullish
Red line - Daily Trend turns Bearish
When market in Range, SL Will HIT. Horizontal/Trend line break is needed.
Moving Average, RSI Indicators lengths are adjusted as per trader choice.
This chart shows only how Technical Indicators help in taking decision, not about any specific indicators.
Every Indicator in Market works, Just need to stick with any combination of (1 Trend Indicator, 1 Momentum, 1 Volatility, Volume, Price, Chart pattern, Candlestick)
How long you want to hold depends on Chart Time frame you are looking at.
Always check Higher Time Frame before locking your bias