TradePro Tip of the Day: “Confluence”
Chart of steemleo on Leodex
In a nutshell-it simply means Actionable trades to take should require a “confluence” of several indicators that reflect a clear direction over several timeframes, as candle sticks tends to show the overal direction of the market even when some few individuals tries to manipulate it for at least 3 timeframes that the anticipated trade duration may last and even more.
In doing your due diligence (DYOR) in multi-timeframe analysis you are best informed to make an accurate risk:reward assessment and best positioned pre-trade for best trade results based on your pre-trade MTF scanning for “confluence”. Trade trends could be backed by FA especially when there is positive news and alot of investors are FOMO.
Examples:
Best for Long Term trades: 1W, 1D, 6H
Mid term Active passive insvestor 1D, 12H, 4H
Day Trader :6H, 3H, 1H
Market Scrapper/ swing Traders: 4H, 1H, 30m
Best Trading!
“Good trade skills never perish”. Trade through retirement.
Posted via Steemleo
Congratulations @kayceefresh! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
According to the Bible, How do you influence faith to Christian believers? (Part 1 of 3)
(Sorry for sending this comment. We are not looking for our self profit, our intentions is to preach the words of God in any means possible.)
Comment what you understand of our Youtube Video to receive our full votes. We have 30,000 #SteemPower. It's our little way to Thank you, our beloved friend.
Check our Discord Chat
Join our Official Community: https://beta.steemit.com/trending/hive-182074
I'm yet to know the real use cases for the #NEOXIAN token.
Posted via Steemleo