Tips of the post:
Never trade on “hope” trade with the odds in your favour.This means when prices move towards the price levels you are looking at, you need to get the odds in your favour and that means combining them with momentum indicators to time your trading signals with the risk to reward I your favour.
You need evidence that price momentum is indicating the levels will hold.
If for example, prices move to support and price momentum turns up, you have the odds in your favour that support will hold and you can execute your trading signals.
Good momentum indicators are ones such as, the stochastic and Relative Strength Index (RSI) and if used with pivot points or moving averages, you have a powerful combination.
It’s all about combining indicators for profit – no indicator works on its own, so you need indicators that complement each other.
No comments:
Post a Comment