Thursday, February 20, 2014

5 Indicators I Can't Trade Without;

Today we take a look in to the top 5 indicators that I can't trade without. These are the indicators that I use to enter and exit trades and they allow me to find trades easily without cluttering the chart up too much.

Entry Trigger Indicator:
We use this to find when the market sentiment shifts and it enables us to find the best areas to enter and to begin looking for trades

Wave Counter Indicator:
This indicator is VERY important for me to be able to find when the market sentiment shifts visually. This allows me to find some of the best patterns we could ask for as traders with a 123 reversal or a 456 continuation trade!

Range Indicator:
This indicator allows me to quickly and easily see the PHOD / PLOD and several other VERY important levels to give me a heads up when trading around support and resistance levels and when to avoid them. It also gives me the heads up to several patterns we use to trade.

Reversal Bar Indicator:
This indicator is an integral part of the puzzle for us to find the best set ups as well as give us VERY high percentage areas to enter and exit at. It also makes figuring risk and reward quite easily as well!

Support and Resistance Zones Indicator:
This indicator can give us a HUGE heads up on any time frame where we had previously had buyers and sellers come in. Typically when we revisit those areas, we should see them defend their previous position and reject price once more. This gives us a HUGE opportunity to trade off of!

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