Which technical analysis tools do u prefer?

Beginner Questions
1

Just wanna know which tools do u guys usually use for trading? The combinations may be alot but there will be a certain few that u guys use regularly. Hope u can share here?

My personal favourite is the Ichimoku Kinko Hyo. Reason is simple : it is a combination of several indicators in one package!
In addition, I also use RSI & Stocastic Oscillator sometimes to further confirm if the trades I’m entering is still running well or overbought/oversold.

LeonMiyavia aka LM

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2

Best indi set I’ve found is right here.

3

admittedly i have been interested in ichimoku. been talking to a trader who has been trading it successfully for a while and its interesting. I personally in my discretionary trading i just use horizontal lines, supply/demand (s/r). I may use other classical technical analysis techniques, but everything is self drawn. No wiggly lines.

4

The daily Ichimoku Kinko Hyo has become one of my secret weapons preventing me from making stupid trades and losing money! I don’t trade it as per the instructions, but I do use it as a filter for all my intra-day and swing trades. :wink:

5

Ichimoku seems complicated but it is worth the while to learn. I made few trades with it at 4hr & daily chart. It brought in more than 100pips in less than 4days…

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6

Have you guys read the IchimokuWiki PDF? If not you should take a look, it’s seems to be the bible for trading the ichi. :slight_smile:
IchimokuWiki.PDF (466 KB)

7

Try this google search: ichimoku kinko clouds filetype:pdf

the first two results are excellent books :slight_smile:

8

Yup i read those 2 pdf that u guys mentioned. It is great.
Oh by the way, do u know that the Kijun line serves as the 1st support/resistance before the Kumo? Take a look at charts trending u will notice many retracements doesn’t pass Kijun. So I used that to reduce my SL limit to attain a TP:SL ratio of 3:1 at least :smiley:

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9

yunny1,

Thanks for the google tip. I had not read either of the two books at the top of the search list. I started reading one of them last night, finding it interesting and learning some new stuff.

LeonMiyavia,

Yes, there is a nice example 6 – 7days ago, daily AUD/USD bounced right off the K-span and headed back up for a nice move.

10

best indication is PRICE :slight_smile: Nothing else comes close.

11

Well seems ur comment haf literally killed my thread :smiley:

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12

A few MA’s depending on the timeframe i trade, i also use the stochastic oscillater but most important price action!

13

Donchian Channel, Moving Average and trend lines.

14

PURE PRICE ACTION… I don’t use any type of indicators… Only Pure Plain Vanilla Chart… It’s enough for a profitable trading…

15

Price action, Trendline, Support/Resistance. And if i had a gun to my head either Mov Avg or Stochastics. But I think its just in every traders nature to try EVERYTHING and then they find what they like or dis like.

16

Although i think the price action is the best but i usually trade simply using mt4 standard tools like trends ,channels ,S/R lines and fibo tools . i like RSI too… i feel more comfortable with those tools … Ichimoku looks interesting i might use it