Price action traders can’t do without their trend lines. Trend lines are practical tools for tracking and trading trends. It makes sense to form trading strategies with this simple but useful tool. Many traders who seem to trade with a blank chart have in fact internalised the art of trend line drawing. They can visualise the […]
A Plain and Simple Trend Line Channel Trading Strategy
Trend line channel – a simple tool based on plain ol’ price action. Basically, it’s a pair of lines that highlights the market trend, trade entry, and exit. What more can a minimalist trader ask for? Or should I say what less can a minimalist trader seek? Before you can trade with a trend line […]
John Hill’s Trend Line Theory – Using Trend Lines for Trading Pullbacks
Trend lines are amazing trading tools. Even traders who swear off indicators draw trend lines. Seasoned traders can see how price action interact with trend lines without drawing them. If you want to join their ranks, John Hill’s Trend Line Theory is an excellent place to start. John Hill is a co-author of Ultimate Trading […]
Trading Continuation with Runaway Gaps
Gaps represent prices that the market did not trade at. They are pockets of vacuum. For this reason, gaps intrigue traders. Hence, it is not surprising that there are various gap trading strategies. The trading strategy depends on the type of gap. (For e.g. exhaustion gap and runaway gap.) Runaway gaps occur in the middle of […]
How to Use the Relative Strength Indicator (RSI) for Day Trading
J. Welles Wilder is a giant in the field of technical analysis. In “New Concepts in Technical Trading Systems”, he introduced an array of trading indicators. Now, these indicators are among the most popular. And one of them is the Relative Strength Indicator (RSI). The default RSI setting of 14 periods work well for swing traders. […]
Swing Trading with the Outside Bar Failure
The market falls and trades below the last trading session. The bears cheer, and the bulls lament. In the next few seconds, the market rises before their unbelieving eyes to close above the last trading session. Now, the bears are confused, and the bulls are cocksure. What just happened will show up in a daily price […]
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