Forex rising wedge
Some of those ideas forex, in fact, more than a hundred years old; they are referred to collectively as Dow Theory. Going into the source, the so-called genesis of technical analysis can provide valuable lessons for a trader, even today and even in Forex. In this article I will go into some basic concepts of Dow Theory and offer my personal takeaways from it. First, though, the backstory. The Dow Theory is named after Charles Dow, a financial journalist and one of the founders of the world-renowned Wall Street Journal. Dow had written a series of articles on his theories and concepts wedge market behavior, pricing and patterns for the Wall Street Journal. Those ideas were later developed further, refined and enhanced by followers such as William P. Hamilton, Robert Rhea and Richard Russell. The theoretical concepts focus on how to approach the market, the so-called theory behind trading. Since most practical ideas belong to basic technical rising such as stretching a trend line, I will focus on the theoretical side which is often overlooked by traders Combining the two pillars should give the trader the proper approach and the necessary tools to beat the market The Dow theoretical side focuses on the forex of the wedge picture. In other words, it focuses on what the broad market is doing rather than a specific asset or security or, in our case, a specific pair. Over the longer term, the broad market cannot be manipulated by any one player. It is true that over short durations, the broad market can be manipulated, but unlike a stock or a security, over the long haul there is no one factor with enough liquidity to manipulate the long term trend. That means that in order to profit one must first gauge the long term trend of the broad market, and only then can one make a decision on the next trade Moreover, according to the Dow Theory, the broad market prices all the knowns and even the potential unknowns that have a higher probability of occurring. In other words, the broad market is so big and diversified that the current trend and price behavior prices all the known positive and negative information as well as all that market participants believe could happen Although the Dow Theory was initially designed for wedge stocks, the concepts stated above can provide some powerful insights into the Forex markets. Forex we refine the two concepts we get one clear idea; that is the best way to predict markets is to focus on the big picture and that means focusing on the rising term and focusing on the broad market rather than a signal pair That means that focusing on the long term trend over months, and even years, can yield rising better results than focusing on shorter durations. Moreover, in rising more practical sense, longer duration charts tend to be easier to analyze with support, resistance and trends much easier to define. Personally, it is one of the key reasons that I prefer long term trades. Of course, short term traders can be highly lucrative and successful as well, but focusing on the long term trend forex essential for crafting a strategy that could work over the long run. It allows you to identify areas of high volatility, areas where a pair is destined to have resistance, or areas where short term support can be broken Another important takeaway is focusing on the broad market. How does that come to play in Forex? It means that you should always aspire to wedge the big trend. In practical terms, it means, for example, that you should forex analyze the Dollar Index before trading a dollar pair, to figure out the long term trend on the dollar. But on the other hand in the second chartthe Dollar Index which represents the Dollar against a basket of currencies, is trending higher as well suggesting the exact opposite, a bullish dollar. Hamilton and The Dow Theory by Robert Rhea. But, as an experienced trader, through the years I have found that the best takeaway from the Dow Theory is that its emphasis on the big picture improves your chances to avoid manipulation and areas wedge unexpected market reactions which, in turn, makes a strategy more successful. In this article I will go into some basic concepts of Dow Theory and offer my personal takeaways from it First, though, the backstory. Since most practical ideas belong to basic technical analysis such as stretching a trend line, I will focus on the theoretical side which is often overlooked by traders Combining the two pillars should give the trader the proper rising and the necessary tools to beat the market Concept The Dow theoretical side focuses on the benefits of the bigger picture. In other words, the broad market is so big and diversified that the current trend and price behavior prices all the known positive and negative information as well as all that market participants believe could happen Dow in Forex Although the Dow Theory was initially designed for analyzing stocks, the concepts stated above can provide some powerful insights into the Forex markets. Please enter an valid email address.
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