$QQQ The Power of Williams Trailing Stop
Determine the direction of the trend: Before entering a trade, it's important to determine the direction of the trend. Heiken Ashi candles can help you do this by smoothing out price fluctuations and providing a clearer picture of the trend. If the Heiken Ashi candles show a consistent upward trend, you may want to look for buying opportunities. If they show a consistent downward trend, you may want to look for selling opportunities.
Identify the resistance levels: You've already identified two resistance levels at 310 and 297.19. These levels may act as barriers to further upward movement in price, so it's important to keep them in mind when entering a trade.
ALWAYS USE A STOP LOSS
Use fractals to confirm the trend: Fractals are a type of technical indicator that can be used to identify potential reversals in the market. If you see a fractal pattern forming in the opposite direction of the trend, it may be a signal to exit the trade.
Watch for Heiken Ashi candles: Heiken Ashi candles can also provide signals for potential trend changes or momentum shifts. If you see a Doji candle forming, which signifies indecision in the market, it may be a signal to watch the market closely and consider exiting the trade if the market turns against you.
You may also find more information on fractals and the Williams trailing stop in the "Master Pullback with Bill Williams Fractals" article on your substack.
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Identify the resistance levels: You've already identified two resistance levels at 310 and 297.19. These levels may act as barriers to further upward movement in price, so it's important to keep them in mind when entering a trade.
ALWAYS USE A STOP LOSS
Use fractals to confirm the trend: Fractals are a type of technical indicator that can be used to identify potential reversals in the market. If you see a fractal pattern forming in the opposite direction of the trend, it may be a signal to exit the trade.
Watch for Heiken Ashi candles: Heiken Ashi candles can also provide signals for potential trend changes or momentum shifts. If you see a Doji candle forming, which signifies indecision in the market, it may be a signal to watch the market closely and consider exiting the trade if the market turns against you.
You may also find more information on fractals and the Williams trailing stop in the "Master Pullback with Bill Williams Fractals" article on your substack.
Links In Bio
Regenerate response