Learn Forex: In a previous issue was discussed the basics of technical analysis as support / resistance and trend line. In the previous lesson, you studied a variety of technical indicators. You must also learn the types of candlestick patterns and price model. Now let's continue the adventure with the various tools of technical analysis.
The combination of these indicators can help you find a different perspective on the price movement. Can also make the integration of indicators " additional ". Things like this commonly called " trading system ". For example, the moving average is basically trend indicator has a stochastic is an oscillator to determine the time of purchase or sale.
In this chapter, you will see examples of the use of indicators that are used in conjunction with other indicators. We will not go too much, we will discuss only the simple and popular system as a base for building a trading system.
Generally, traders combine two or three different indicators in their trading systems. The decision to buy or sell is taken when these three indicators have been "confirmed" the same signal.
Well, without further ado to scale, we start our adventure.
1. pattern of use
This system is very simple. You just need to recognize a pattern that seems to predict the further price movement. Of course, to be able to recognize the emergence of a model, you need to multiply the training to be more attentive to your comments.
2. Fibonacci retracement pattern candlestick + / prices
This technique can be very simple. All you need is a bit of support trend line and Fibonacci retracement and a little help from the chandelier and / or price model.
The system is based on the trend. Therefore, of course, a good understanding of the trend itself is absolutely necessary. The system also uses bounce trading strategy using the Fibonacci retracement level reference.
The first thing you need to do is to determine the trend. The next step, pull Fibonaci retracement is based on the last oscillation that you see on the chart. Then, note the reference fibonacci retracement zone, namely 38.2%, 50% and 61.8%.
Next, locate bounce (reflection) of the reference area fibonacci earlier. Confirm that you can use is a candlestick pattern or pattern.
So you have to wait a reference area Fibonacci retrenchment and whether there is reason for bullish / bearish confirmation. Pattern / could candlestick pattern (star morning / evening, swallowing, etc.) or a pricing model as a double top, double bottom, and others.
3. Fibonacci Retracement + + stochastic oscillator CCI
Always with Fibonacci retracement, but this time we will combine with Stochastic and CCI. Its use is also very easy. We waited until the withdrawal occurs at the Fibonacci reference area, and then wait for a signal to buy / sell the stochastic and CCI. The signal must come from the two indicators for the confirmation of a strong signal.
OK. exchange systems described above are just some examples that you can use. You can experiment to combine several indicators for a trading system that fits your trading style.
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