User:Forex Millennium Review1
If you want to do Forex charting correctly, Forex Millennium you need to learn basic chart patterns and spot trends and learn about support and resistance and all this information is all free online. Next you want to add some Forex indicators to help you time your moves but don't make your system to complicated, otherwise it will have to many elements to break. Keep your system simple and robust, as simple systems always work best.
So what indicators should you consider?Below I will give you three which have served me well for over 25 years and all traders should consider them as part of their Forex trading strategy - here they are...Bollinger BandsGive you the volatility of the market and also have a middle average which offers an excellent value area to buy back to in an up trend and sell into in a down trend. If you want to win at Forex trading, you need to understand volatility and standard deviation of price, we don't have time to cover it in full detail here simply look up our other articles.
RSIThis indicator will help you stay with trends and alert you to when they may end. If RSI is rising, the trend is to but if the trend continues to rise and the RSI starts to fall from over bought in a bull market a turning point could be near.The StochasticThis is simply the best indicator to time your trading signals with and if you buy or sell stochastic crossovers, as a confirming signal, you will increase your odds of success dramatically.
