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When we enter into a long trade in the forex or stock markets, we
want to buy at the strongest level of demand in order to have a high
probability for success and make money. Most forex or stock traders
think incorrectly that all turning points where prices rose will act
as demand. We need to be selective in our trading no matter what
market you trade. We want to find the strongest levels of demand
usually a green candle for the best forex or stock trading
opportunities. Those strong levels identify themselves in the way that
price leaves the level. Green candles and volume will be a key entry
area for a trade. Think of a glass filled with water. If you grab hold
of the glass and it is filled with lukewarm water, you will be able to
hold the glass for as long as you'd like.
However, if you grab a glass
filled with scalding hot water, you are likely to let go of it very
quickly this can be the same when exiting a trade too soon. Demand
levels work the same way and reading the charts correctly will help
you in making the safest trades. If prices enter that area and then
move sideways or slowly leave the area, there is not strong buying
pressure there and it is a weaker demand level. However, if prices
barely enter demand and move quickly away, there is strong buying
pressure there and you want to use those areas as buying points in the
future. It also depend on the time frames you are trading. In the forex markets if you day trade then you need shorter time frames.
Supply levels work the same way with selling pressure dominating
buyers, the formation of red candle sticks. If you want more
information on how to identify and trade these levels you need to
learn how to read candle stick charts. Forex and stock traders need to
learn how to read their charts. Traders want to buy at strong demand
levels where the supply is very thin and prices are likely to rise
,watching the volume. We want to sell at supply levels where the
supply of stock or currency pair overwhelms the feeble demand that may
be there. Prices will halt and reverse when the current trend no
longer has the pressure to sustain itself and the opposite pressure
exerts itself.
I’ve written a course that will teach you how to distinguish between
true reversal signals and the more common false signals. “Candlestick
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Candlestick Trading ! |
