Hello guys and girls!
I’m wondering, which indicators are useful/helpful if you trade Price Action signals? Do you combine PA with indicators and which ones?
Thanks!
Everyone look at this EURUSD indicator level!!!
I got them from fxpremiere group and they work very well EURUSD and USDCHF comdol pairs that work in opposites. So a SELL EURUSD is a BUY USDCHF!!! look at this.
Steve Nison who was the man who brought Candlesticks to the western world always says that if you combine Candlestick Signals with Wester Technicals (indicators) then you will increase your probability of the trade being profitable.
I’m not telling what is guaranteed but I am telling you what is working for me…
Moving Averages are working well for me right now. The way how price action responds to them is quite amazing.
According to Chris Capre he states the major investors use the 20 EMA.
The good thing about Moving Averages (if you know how to use them) is that you can enter early into trends and you can spot early trend reversals. And it often acts as support and resistance.
But kind of marketplace that MA’s are not as effective is with price action that ranging. But it can be used in a ranging market if one knows how to read candlestick signals and patterns.
They key to really use any indicator is to learn how price reacts to the indicator and not in the indicator itself. Indicators work but you have to know how to use them.
If you’re smart you will use any all relevant information. Indicators, tech analysis, fundi analysis and price action. I break my trades down to: trend, momentum, cycle (beginning of an up or down candle move), support and resistance and verify on a couple of time frames. A lot depends on you and how you are trading. I found and this is only my opinion, the shorter the time frame the more accurate your entry and exit signals have to be. Everybody pretty much agrees that you want to address: trend, momentum, cycle (beginning of an up or down candle move), support and resistance in your analysis, but not everyone uses the same methods to analyze them.
Welcome Sarah Hill, lots of signal providers are awesome - when they work.
Way better to learn your own signals - this site is full of such learning, and all for free - enjoy !!!
@Sivric,
Have a read at this from issue 8 webtrading - the last 2 articles are especially relevant and thought provoking.