chart trading reading

Absolutely! Finding your unique trading style and blending different elements that resonate with you is indeed the secret sauce to success.
So keep pushing boundaries, stay curious, and watch your trading journey thrive! ✨
 
hi to everybody!
I wouldn't say that I'm new at trading, but there is still a lot I don't know about it. I'm curious, though, how other people analyze charts. While reading the charts, what element do you pay attention to?
The most important element traders pay attention to while reading charts is price action. Price action provides valuable information about market trends, support and resistance levels, and potential entry and exit points
 
The most important element traders pay attention to while reading charts is price action. Price action provides valuable information about market trends, support and resistance levels, and potential entry and exit points
Yes two popular concepts are momentum and mean reversion in price action, I use various technical indicators to determine them and build trading systems based on those principles.
 
The most important element traders pay attention to while reading charts is price action. Price action provides valuable information about market trends, support and resistance levels, and potential entry and exit points
What frame time will you check while you have open trades?
 
Yes two popular concepts are momentum and mean reversion in price action, I use various technical indicators to determine them and build trading systems based on those principles.
That's great to hear! can you explain about reversion more. I know using technical indicators to identify these patterns and incorporating them into your trading systems can be an effective approach.thanks
 
I also prefer to focus on chart patterns despite in my chart attached indicator but the main decision is often based on price action, just make trading simple.
yeah, Price action can provide valuable insights into market sentiment. By relying on these aspects, you're able to cut through the noise and make more informed and streamlined trading choices. Thanks.
 
Reading charts is important skill because price sometimes responds to events before they become available to public. That's why it is important to realize that trading by fundamental analysis you risk to take late decisions, i.e. reacting to events that have been already priced in.
 
I assume it’s important to pay attention to all aspects of charts.
For instance if you use a Japanese candlesticks chart then you can look at the size of the candle’s body or even the wig. If the wig is long then it could be a sign of price reversal within the next candles.

Timeframes are also important to look at. If you trade on a 1 hour timeframe then I believe it’s recommended to follow the H4 and M30 timeframes too. Just to be aware of what is happening with the higher/lower trends.
Eventually the number of trading signals taken from charts is limitless. Everything is up to your level of expertise.
 
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