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  1. #1
    Active Member aquaeyed's Avatar

    Question 2 trends, to which to believe? !!!

    Hi, my name is Slava, I'm form Israel. Glad to be part of the forum =)

    The questions is to which trend I must believe (look at the picture). how i need to Analise which one is stronger at this period of time if i trading on 5-10 min binary (each 15 min window) on markets-world?
    thank you.
    good trade to you =)

    Last edited by aquaeyed; 07-26-2013 at 04:23 PM.

  2. #2
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Hello aquaeyed.

    Support trendline is not a trend line is not very strong. If you want to follow short term trend, technically, in above picture, price is respecting resistance trendline.

  3. #3
    Active Member aquaeyed's Avatar
    Snx for respond, but do we have some signs on which line to see at particular moment? Resistance or support ? If I remember correctly it the price continued up, so it was trend up at the end.

  4. #4
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by aquaeyed View Post
    Snx for respond, but do we have some signs on which line to see at particular moment? Resistance or support ? If I remember correctly it the price continued up, so it was trend up at the end.

    Even without drawing support trend line, we can see that long term trend is slightly in favor of bulls but at this point, I will prefer to stay on hold as risk of further fall is there. OR I will check it with different timeframes which I normally do. I never enter in a trade by looking at just one chart. I open multiple timeframe charts and then try to predict longterm and shortterm trends.

  5. #5
    Legendry Member willyw's Avatar
    Quote Originally Posted by aquaeyed View Post
    Hi, my name is Slava, I'm form Israel. Glad to be part of the forum =)

    The questions is to which trend I must believe (look at the picture). how i need to Analise which one is stronger at this period of time if i trading on 5-10 min binary (each 15 min window) on markets-world?
    thank you.
    good trade to you =)

    Hi Slava, as in your chart the prices are trending downwards with lower highs and lower lows. And you have draw a support line which is a good support. When prices reaches the support look out for breakout for a trend continuation or rebounds.

  6. #6
    Active Member aquaeyed's Avatar
    Snx to all responds. After reading a bit of school on the site I understand a bit more now and will see more signs for entering to trade. Not just support lines.

  7. #7
    Senior Member raymond09's Avatar
    You are using 15min time frame. So Obviously you have to move your steps to get profits in short time. So make your trade with running Trend. don't hold your position for so long. Trend line is not Strong support or Resistance point.

  8. #8
    Legendry Member willyw's Avatar
    Just a piece of information for newbies. Support, resistance and trendlines are not fix. We have to move them them according to current trend/prices. Besides having lines (support, resistance & trendlines) for the immediate (current) trend its good to have a long term lines as well. But do not draw too many lines to confuse your analysis.

  9. #9
    Master Member Bogdan G's Avatar
    aquaeyed, is that a 1 minute chart? If it is, stop using it for technical analysis unless you have a really powerful scalping technique. Anyway, all time frames are correlated and you must see what happens in other time frames too. Analyzing just an M1 chart is like trying to drive your car and looking just 10 centimeters in front of it. You need to raise your head and look at the road ahead.

  10. #10
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by Bogdan G View Post
    aquaeyed, is that a 1 minute chart? If it is, stop using it for technical analysis unless you have a really powerful scalping technique. Anyway, all time frames are correlated and you must see what happens in other time frames too. Analyzing just an M1 chart is like trying to drive your car and looking just 10 centimeters in front of it. You need to raise your head and look at the road ahead.
    Well said B! This chart is so short a time frame it is like looking at the froth on the ripple on the wave on the edge of the tide. Aquaeyed, start with a chart of weekly prices, get a grip on the long term trend and any secondary trends. Then move down to daily to look for whats happening now. It is recommended, by me at least, that any trades you make on the daily chart should follow the primary trend on the weekly chart. When you get good at that you can try to catch the secondary trend and/or move down to hourly charts and try to do some day speculating.

    Whatever you do keep us posted cuz we all want to know how you are doing!

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