All the info in here from my last chart tagged below but I've added a regression channel in this last up phase just to give me some sense of the minor trend. If you're putting one of these on your charts do it from H-L or L-H and then pull it out either side until you get the maximum Pearson %
MAJOR trend is UP on the dailies . . . the pull back is a MID trend and DOWN and the zig-zags within that are the MINOR trends.
The MID trend for me is DOWN and very tradeable so I'm looking for the MINOR trends in the same direction. Everyone feels better with qualification of a trade decision and I'm no different. The 10/20 EMAs are great but I also bring up an ADXDM when necessary to give me confidence. It's a fairly unloved indicator for some reason but to me it's a great qualifier with DM showing Direction strength and ADX showing trending and non trending. Any user of this indicator needs to read up in it and understand it properly before using it . . . as with every indicator it can't be used on its own and there are certain levels to watch out for.
I've put the areas as best I can onto the charts to show the areas good to trade and which would give any trader the best chance of profit.
PRICE atm faltered at the top channel line . . . for the moment PRICE is in a non trending mode with ADX down and 10/20EMA flat. It's a wait and watch time and patience is a great virtue when trading. PRICE will break or it won't break but I've done my homework . . . my chart has all the FIBS/trend lines from time frame to time frame and I have a road map I continually update.
5 day AvDaRa decreased to 148 +/- and plotted as usual from the current H&L
NB: I only trade / analyse 5 currency pairs . . . it is more than enough and my day is long but I make every trade with confidence and make every trade count.
MAJOR trend is UP on the dailies . . . the pull back is a MID trend and DOWN and the zig-zags within that are the MINOR trends.
The MID trend for me is DOWN and very tradeable so I'm looking for the MINOR trends in the same direction. Everyone feels better with qualification of a trade decision and I'm no different. The 10/20 EMAs are great but I also bring up an ADXDM when necessary to give me confidence. It's a fairly unloved indicator for some reason but to me it's a great qualifier with DM showing Direction strength and ADX showing trending and non trending. Any user of this indicator needs to read up in it and understand it properly before using it . . . as with every indicator it can't be used on its own and there are certain levels to watch out for.
I've put the areas as best I can onto the charts to show the areas good to trade and which would give any trader the best chance of profit.
PRICE atm faltered at the top channel line . . . for the moment PRICE is in a non trending mode with ADX down and 10/20EMA flat. It's a wait and watch time and patience is a great virtue when trading. PRICE will break or it won't break but I've done my homework . . . my chart has all the FIBS/trend lines from time frame to time frame and I have a road map I continually update.
5 day AvDaRa decreased to 148 +/- and plotted as usual from the current H&L
NB: I only trade / analyse 5 currency pairs . . . it is more than enough and my day is long but I make every trade with confidence and make every trade count.
