Line chart trading strategy

How To Trade Linecharts To See The Obvious - Tradeciety Trading Academy

 

line chart trading strategy

Jul 30,  · I have been trading FOREX, CFD's and FUTURES, using only diagonal trend lines, & fibonacci retracements on LINE CHARTS. This method is very simple but helps me to be more objective about the observations I make, and measuring price targets, using LINE CHARTS (close). 21Dec Line chart is the easiest chart at Forex. It represents a curve, which shows closing price for a certain period of time. Line charts can be also based on the median price, opening price, lows or highs. A line chart is the first thing, which beginners learn in the financial market. Take a higher timeframe line chart and when it points down, and your lower timeframe line chart points down as well, try to get in on a or 2B pattern, and you have a (obviously discretionary) winning strategy.


Fibonacci Trend Line Trading Strategy- Trading Strategy Guides


My charts were so cluttered I could not make one clear decision, yet produce one valid trade idea that I liked. Everything was gibberish, line chart trading strategy, paralysis through analysis. Whenever I got a signal in one direction, other things I learned and watched gave me a signal into the other direction. It was time to weed out.

And I am not even talking about indicators here. No, I am talking about the thing that everyone so religiously loves — candlesticks. It seems there has been a cult around these ever since Steve Nison, or whoever claims to have brought them to the Line chart trading strategy first, introduced them to us.

Price action is king, yes of course it is. But to me, seeing the open, line chart trading strategy, high, low, and close was just too much information to digest sometimes. So I started to play around a bit with different chart tips, tick bars, volume bars, line chart trading strategy, renko bars, and so on.

All candlesticks fanatics always preach to wait for line chart trading strategy close of the bar, so why not only look at the close of the bar? Looking at this chart, I have trouble finding something tradeable, line chart trading strategy. Sure, there are some things, but nothing that stands out, although price has been moving pips and more in that period we see here. What can we see on the line chart, however? Firstly, the head and shoulders formations are much easier to spot.

Now when we switch back to candlestick charts, you will see that you see that every pattern I drew here actually cut through the wicks of the candles. See what I mean? Maybe, at least I hope so.

Take a higher timeframe line chart and when it points down, and your lower timeframe line chart points down line chart trading strategy well, try to get in on a or 2B pattern, and line chart trading strategy have a obviously discretionary winning strategy.

But that is a topic for another post. Will switching to line charts make you a winning trader? No, of course not. But they will bring clarity and simplicity to a chart if you, just lile me, cannot handle the information overload of opens, closes, highs and lows, wicks and bodies, strong closes and weak closes, and so on.

Candlesticks, like any other visualisation of price, are an indicator — too many indicators simply will clog your thought process. I look for multi-bar patterns on the line chart, and get confirmation from single candlestick patterns on the candlestick chart — this makes trading so, so much easier. Trading is about pattern recognition, after all, and patterns are the easiest to see on line charts.

What do you think, are line charts as visually appealing to you as they are to me, or are we missing out on vital information by trading them? Let us know in the comments below!

 

Forex line charts

 

line chart trading strategy

 

Jul 30,  · I have been trading FOREX, CFD's and FUTURES, using only diagonal trend lines, & fibonacci retracements on LINE CHARTS. This method is very simple but helps me to be more objective about the observations I make, and measuring price targets, using LINE CHARTS (close). Line Chart. The most basic of charts uses a line to connect prices that are collected at the same interval, whether hourly, daily or some other timeframe. As a general rule, line charts use the closing price of the interval as the most representative of total trader sentiment during the preceding period. 21Dec Line chart is the easiest chart at Forex. It represents a curve, which shows closing price for a certain period of time. Line charts can be also based on the median price, opening price, lows or highs. A line chart is the first thing, which beginners learn in the financial market.