My Current Thoughts Reading the Charts

 

Why Does No One Tell You This About Trading?

It's important to note that trading any pattern carries risk and it's important to have a well-developed trading plan and risk management strategy.

1. WHAT YOU WANNA SEE:

A. Trade idea #1: 

ABOVE SLOPE" MULTIPLE CHARTS BREAKING OUT AT THE SAME TIME AFTER A BIG PULLBACK ON THE INDICATOR 

The Beginning of a New Trend : AT LEAST 2 SIDE BY SIDE CHARTS CROSSING AND BEGINNING TO SLOPE IN THE SAME DIRECTION

"ABOVE SLOPE

that's a good time to be getting into a trade at the time of event A or the close of the candle 

THEN THIS IS WHEN THE PRICE IS ABOVE/CLIMING (MULTIPLE INDICATORS JUST CROSSING THE MACD POINTED IN THE SAME DIRECTION 

then take the trade, don't just stare at it or become afraid that you're in too late because it's gonna move as long as it includes the 4hr chart or 30min chart (the 3rd chart) 

but watch out for when the STOCHASTIC indicators bouncing along a macd that is going sideways in UNDER OR ABOVE the overbought or oversold part of the slope on the MACD FAST AND SLOW LINES

IF YOU HAD GOTTEN IN EARLY ON BEFORE THAT MOVE HAPPENED UP TO THAT POINT YOU WOULD'VE ALREADY TAKEN PROFITS AND BEEN DONE FOR THE WEEK (STARTING WITH THE 30min AS YOUR FARLEFT CHART ON A 4 CHART SCENE, 30min to the 4Hr: 30min, 1H, 4H, D) OR THE NEXT 4 HOURS (Trading the 5min into the hourly chart.).

WAIT FOR THE CANDLE TO CLOSE

(after the stochastics bounces through the neutral zone OR crosses the MACD when it's flattening and beginning to slope after being near the end of a move moving to the right on the indicator window just as it's coming out of under or above UNDER/ABOVE right before it goes into the between of the MACD average lines - if it includes the D chart confirming the slope of the new trend with the MACD and histogram).  it will continue the trend 

YOU WANT TO BE TRADING WHEN/UNTIL PRICE RISING & ON INDICATOR THE  SLOPE BEGINS TO HAPPEN OR IS CURRENTLY ABOVE SLOPING ACROSS THE NEUTRAL ZONE TO OVERBOUGHT OR OVERSOLD 

YOU HAVE TO TIME THE GETTING BACK IN - IF YUO JUST WON PROFIT ON THE MOVE UP TO THAT POIN THEN CONGRATULATIONS, YOU TAKE A REST AND WAIT FOR THE NEXT PERIOD OF SIDEWAYS CHART TO PASS -  based on IF IT'S UNDER THE SLOPE (CORRECTING OR RETRACING) OR THE STOCHASTICS JOINING WITH THE MACD IN THE OVERBOUGHT AND OVERSOLD AREAS OF THE INDICATOR WINDOW

WHEN THE STOCHASTICS START GOING THROUGH THE MACD ZIG ZAGGING, ON THE FAR LEFT CHART OF 4 CHARTS, IT IS TIME TO GET OUT/GET IN UNLESS YOU WANNA RIDE THROUGH SOME TURBULENCE this is Trade Idea #3&4 - explains the action on the chart and indicator window 

a. THEN SLOPING ACROSS THE NEUTRAL ZONE ON INDICATOR WINDOW AND PRICE/CANDLESTICKS STAYING ABOVE -The T Line -THE 2 SHORTEST MA'S the 8 and 25ma

-this is where the indicator slopes /sloping across the neutral zone from one side of indicator window to the other side : from an over bought to over sold or over sold to over bought and  

-that's a good time to already be in a trade behind event A. bcz 

-that's where price runs along smoothly and goes up or down instead of sideways or into congestion

and when you see the indicator sloping, you also will see 

-price action on the chart (candles) STAYING above/below the T Line on the chart (DEPENDING on if an  uptrend or downtrend ) 

-AKA- price STAYING on one side of the MA : above or below the MA's) 

others MA'S include the 200 exponential MA (red) the 100 period exponential MA (dark blue), and the 50 PMA (light blue)

B. Trade Idea #2: 

risky but may payoff if trend is continuing ) THEN flattening MACD average lines and stochastic in the oversold/ overbought and moving between the MACD average lines  sideways price on the chart

FLATTENING IN THE EDGE IN OVERBOUGHT/OVERSOLD :

ON THE FAR LEFT CHART - YOU WANT TO BE TRADING UNTIL PRICE STARTS TO PULL BACK TO THE T LINE OR and THE INDICATOR STARTS GOING INTO THE BETWEEN SPACE OF THE MACD AVERAGE LINES FAST AND SLOW (B.)

You could possibly enter a trade as long as it's short lived and you're in and out after not too long 40 min to 100min. if it's the 5 min chart for a short move

AFTER THAT where it's  PREPPING TO GO SIDEWAYS or CONTINUE AFTER B. ZIG ZAGGING IN BETWEEN THE MACD FAST AND SLOW MOVING AVERAGES '- risky because you don't know if it's the beginning or the middle sometimes

when the indicators are CROSSING through OR / ZIGZAGGING between the FAST/SLOW MACD average lines RIGHT AFTER THE SLOPE EVENT /just BEFORE SLOPE EVENT

THE NEUTRAL ZONE WHERE IT RETRACES OR PULLSBACK OR CONTINUES DOWN OR UP/SORT OF ROLLS UNDER THE MACD 

C Trade Idea #3 : 

watch out for when indicator is bouncing in NZ

along with the Stochastics ZIG ZAGGING UNDERNEATH THE MACD then rolling over of the MACD VERY RISKY./ TIMING MUST BE RIGHT and MUST BE A REVERSAL

D Trade Idea #4 : 

REVERSAL or CONTINUATION

where it's PREPPING TO REVERSE or CONTINUE AFTER B. ZIG ZAGGING IN BETWEEN THE MACD FAST AND SLOW MOVING AVERAGES '- risky because you don't know if it's the beginning or the middle

moving in the neutral zone on the indicator window to REVERSE OR CONTINUE or REVERSE THEN CONTINUE -

Continuation  OR reversing into the trend (a pullback to a significant area) - look for a candlestick to confirm the direction on the 4hr or 30min chart (your 3rd chart)(On the 30 min to the Daily chart would make it your 4h chart (the 3rd chart) and on the 5min to the 1H chart would make it the 30 min chart.(the 3rd chart))

E. Trade idea #5: 

DIVERGENCE ON A HIGHER TIME FRAME CHART (WITH DIVERGENCE ON ANOTHER CHART- the next lower chart, chart 2)

F. Trade Idea #6: 

HIGHER TIME FRAME CHARTS IN THE NEUTRAL ZONE on indicator window plus NEAR the MA's NEAR THE MOVING AVERAGES on the Chart - WATCH/KNOW THE HIGHER TIME FRAME DIRECTION AND LOOK FOR A CANDLESTICK CONFIRMATION ON THE 4HR (your 3rd chart)