Price can move in several directions with probability. So how you can find the Trading edge means where you enter your trade. There are exploiting repeatable patterns in collective human psychology where we have high probability outcomes and that’s called Statistical Edge.
What gives us a Trading EDGE
Trends: There are 2 types of trends. Uptrend – when we can identify the price is clear uptrend with higher highs and higher lows. In uptrend you should go for buy / long.
Downtrend – when we can identify the price is clear downtrend with lower lows and lower highs. In downtrend you should go for sell / short.
Support and Resistance (Trend Lines): Support level tells us the balance of demand and supply. At support level buyer waiting to BUY and at resistance level sellers are waiting to SELL.
***There are more items to identify statistical edge like Candlestick Patterns, Moving Average, Divergence, Fibonacci Levels, Technical Indicators, News. BUT these are not possible to explain in words therefore while I start VIDEO lecture, I will show you all of them. ***
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Hi my friend, thank you again for your lesson, i was thinking line red and green was inverted...:D
At the point of line green, you should BUY and at the point of line red, you should SELL. Anyway I will cover everything while start video lecture.
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Thank you for sharing.
I really want to ask that at what level should a person consider buying and selling forex? @hashclub
It depends on few factors like trend, support and resistance level, candlestick patterns, moving average, fibonacci levels, Technical Indicators. I have not described all of the aforesaid items.
okay. Thanks.