I just programmed the JMA into my system. This MA is da bomb! It hugs price without overshooting it and changes direction on a dime. I’m going to use it in the RSI and see how it behaves.
Thank you sir
You’re most welcome!
Great explanation, Trends. Much appreciated.
It would depend upon your trading style and the currency pairs that you would be trading. However, you can use market structure and price action principles as a base for a general framework for your timeframe.
Firstly as a beginner I would recommend sticking with the major USD pairs. To determine your bias you want to see clear USD strength or weakness. Preferably the same on both daily chart and intraday (hourly) chart. As a guide something like a simple moving average or the Kumo Cloud could help if you need an indicator. Just use such indicator to check trend.
Once you know if you want to buy USD or sell USD then look for the best pair. Always enter the market near to support or resistance. And have stop loss on opposite side of support or resistance.
I personally use trend lines as support and resistance. But you can try other popular methods.
Higher time frame tells us the possible direction of the day. Then in lower time frame like 15Min or H1 you need candle confirmation to support the direction. Suppose Higher TF says it’s going to up and you take a trade in lower time frame for sale, possibility is huge that u will end up losing.
Why candle conformation?
Actually it depends on your trading strategy. In price action, candles always speaks. If you know how to read candles, it tells a lot of price direction. Candles formation and the way price moves tells in which way price is going to head of you know how to read candle and price.
Pls I’m a bigginer
Can someone please help me out?
So the aim of analyzing the higher TF is to understand the overall structure of the market if market is either trending up or down. After you’ve gotten the understanding of the higher TF for example price is trending to upside in the higher TF then you narrow down to the lower TF to look for entries based on the direction of the higher TF… You don’t want to be trading against the trend… Hope this is helpful mate
Please I’m a begginer
Can someone please help me out?
Which way did you come in?
@Kuntyjr hat types of help you need? You have to be more specific. By this way you will not get help nor you will be able learn. If you are totally newbie first try to learn the basics. You can start from Babypips school.
Thanks so much brother