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Chapter 19, Part I. Harmonic Approach to Recognizing a Trend Day.

Discussion in 'Complete Trading Education- Forex Military School' started by Administrator, Oct 13, 2011.

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  1. Administrator

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    Part I. Harmonic Approach to Recognizing a Trend Day. [​IMG]
    Commander in Pips: One of the important things on market is to catch the market’s sentiment – both for long term and for the current trading session. With sentiment, we understand here contraction or expansion of the market. Contraction is range trading, while an expanding market means a trending market. Knowing the current trading environment is particularly important, because applying the wrong strategy will lead to loss. Definitely speaking, if we use a trending strategy on a ranging market or a ranging strategy on a trending one – we will hardly succeed. Very often, many traders scream that their strategy is bad and does not work anymore. Although a strategy could really be bad, very often a good one stops working due o wrong application. As we use different tools for cooking and car repairing , there are different strategies we have to be apply depending on the market environment.
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    Pipruit: So, we will need some indicators to estimate it, right?
    Commander in Pips: Not quite. Although we will point to using some indicators that are recommended in many books and educational materials, they still have limited efficiency. Most materials offer to use such indicators as ADX, Bollinger Bands, MA and others to estimate trading and ranging market. All that is true, but applying a bit thinner and delicate view could allow you to estimate the trading market earlier and with greater accuracy. I’m speaking about looking and price action itself. Knowing how to recognize what is happening in a trading session has much greater value than you can imagine.
     
    #1 Administrator, Oct 13, 2011
    Lasted edited by : Apr 17, 2016
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