Hello there guys, I have been trading for several years now, most of them struggling, I have been all over the place, scalping, intraday, swing and finally want ot give it a try to weekly charts, I think this could be my edge that I have been looking for all these years on the marktes, I will appreciate and it would be cool if someone here on the same page or trading the weekly chart that might share his thoughts, insights, give me advices and why not, create a community and maybe progress and move forward all together.
Almost a year since your post here…how are you faring with your weekly chart trading
Yeah, hows your progress?
Not good enough. How about you? You trade the weekly chart? Any experience and thoughts you would like to share? Thanks for the reply.
So so, . Poor performance to be honest.
How about you?
Im not trading live yet, just been backtesting on tradingview. Im only using the W1 to mark key levels, but trading off the H4/H1.
What type of trading system are you working on? Would you mind sharing how is your trading style or methodology?
Mine is very simple … I trace levels of support and resistance on the weekly chart, and wait for a break and retest of that level, or, if the level holds the the break (price respect the level), I wait for signs of reversal, then a continuation, on both I use chart and candle patterns for confirmation and I filter it with a 20 EMA.
That’s all I do and all I use for my trading.
Easier said than done hehehehhe
The struggle comes when waiting for the patterns on the weekly chart. A lot of patience is need it. So, I have been actually backtesting similar as yours… levels on weekly, executions on 4H.
Thanks for replying have a nice day.
If cool with you, would be nice to know your progress and journey.
Im doing pretty much same as you except using D1/H4 for structure and direction, and executing trades on H1. Also using fibonacci retracements.
Hey Paul. Please look at the EUR/JPY, on the daily, weekly, and monthly. Put a VWMA around 13, or whatever fits you chart best, then look at the VWMA as support and resistance. There is more to it at my website www.circlingtheinsideofthetoiletbowltrader.666.com
The Still Laughing At Mikeys Antics VIPER
Looks interesting, I will check it out today
Im still at work so just had a quick look on my phone.
Doesnt seem much different to using a same period EMA?
Am I missing something?
Not I can check later on, try 20
The Ever Seeking Alpha VIPER
OMG you’re back!!!
Are you talking about a community of those interested in weekly charts? I’m in! And I echo your thought, anyone (else) around?
Using the 24 hour time frame.