Any good method to play when forex market in trending?
Is there any good method to play when market in trending where we can see market is going up or down?
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Tagged with: Forex Questions • market • method
Filed under: Forex signals
Supra Forex has been working well for me, especially the new daily signals.
Usually MACD will be a very good indicator for me. Been using this indicator and my success rate was about 80%. Off course this my opinion and I think this works for me. Thanks
Price action is the key. It is the king of all. All indicators are lagging indicators no matter how you argue the fact. Price action is used by banks and major institutions.
Asia Forex Mentor
Ezekiel
http://www.asiaforexmentor.com
yeah i leave it up to someone else. not big into tecnical analysys but i am following a system from the guys at stocktrendprofits.com
not forex but there system is used for spreadbetting which to me is just as good
hope this helps
You can use multiple timeframe analysis of forex trends, here are some free trend indicators that I give to all of my clients. We use them daily for trend analysis.
http://www.forexearlywarning.com/charts.cfm
Here is an article on multiple timeframe analysis to get you started.
http://knol.google.com/k/multiple-timeframe-analysis-of-the-spot-forex#/
Hope this helps
Good Trading
Mark Mc Donnell
http://www.forexearlywarning.com/
Yahoo Answers Level 3 Responder
I like using RSI and MA crosses to identify new trend. And I use MACD to verify if the trend has ended.
When is market in trend 99% of strategies work very well, the main problem is detect trend before they start.
One of the best way to tell if the market is trending or not is to make use of multiple moving averages.
You can plot the 100, 200, 400 and 800 EMAs on your time frame. As long as you see them sloping in a particular direction with good angle and separation, you are in a good trending market.
If you see them cluttering together, you are likely to be in a side way moving market.
Once you have established the direction of the trend, you can make use of either the MACD or the RSI to help you plan your entry.
If you are in an uptrend, you should wait for the RSI to retrace back to the 50 mark and when it started to curve up, you can enter a trade. Most people want to wait for the RSI to hit the oversold zone before entering a trade but when the market is trending upward, there is hardly any chance for the RSI to hit the oversold zone.
If you want further confirmation, you can wait for the MACD histogram to flip up to the side that the trend is at before you enter a trade.
At it’s most basic level, a trending market is defined as one making higher highs and higher lows, or lower highs and lower lows. Adding a trend line connecting the higher lows in an uptrend or lower highs in a downtrend will identify the trend in its most basic level.
There are other technical indicators commonly used for trend identification such as ADX, DMI, etc.
And lastly, you could always use signals such as provided by DailyFX http://www.dailyfx.com/technical_analysis/ . With any signal provider, you should always conduct due diligence and test them first.