A
daily chart refers to a graphical representation of information or data that is updated or observed on a daily basis.
Full definition
You probably have read some of my articles
on daily chart trading, if you haven't, you should.
Maintaining accurate records and reports including attendance records and
daily charts of student progress.
As I discussed thoroughly in a recent article on trading
daily chart time frames, you can significantly improve your trading by ignoring time frames under the 1 hour chart all together.
I have practiced to trade FX
in daily chart for months and I can say that my balance stay in positive since then.
Price action coupled
with daily charts, using horizontal lines, it doesn't get much simpler for applying a set & forget strategy.
Moving averages yeah i find them useless on lower time frames as well but on 4 hr and
daily chart for long term trades they so far have worked.
However, the most important trend to identify is the most obvious current dominant
daily chart trend.
However, it is also important to look for confirmation of intermediate - term trend reversal on the shorter -
term daily chart interval.
With price action
using daily charts this information is really not as important as all your previous teachings.
We will be looking for 1 hour, 4 hour or
daily chart price action buy signals this week on any weakness whilst price is trading within or above that support zone.
Combining both weekly and
daily charts when trading high growth stocks makes trend following much clearer.
We remain bullish on this market and are watching closely for 4 - hour or
daily chart buy signals from support.
If you can only spare a block of time each day, you should definitely consider trading
off daily charts.
I am now looking @ 4 hr &
daily charts so I get more spare time & bigger profits.
It seemed logical because those 15 - minute, 60 - minute, and
daily charts clearly showed me where the action was.
I started trading on
simple daily charts, they carry a lot of weight and thus higher probability and they help with the emotional side of trading.
Since I started to read your articles my trading skills improved a lot, trading
daily charts avoid many things like over trading, noise in the market etc..
This week, traders can watch for obvious price action buy signals on the 4 hour or
daily chart time frame if the market pulls back into support.
The primary thing I am looking for are
daily chart price action signals, as these are the strongest and best ones to trade in my opinion.
When you know how to use price action setups effectively you can trade strictly
off daily charts and spend about 30 minutes a day analyzing the forex market for trade setups.
Simply put, the easiest way to make money as a trader or investor, is trading with the
dominant daily chart trend.
This is what I have examined over the year by
trading daily chart I don't need to set in front of the PC as Its going to do what its going to do.
The annotated
daily chart below shows how the trade setup looked when $ MZOR was listed in the newsletter:
Based on the weekly and
daily chart patterns above, we have officially added $ IBB to our watchlist as a potential swing trade setup on the short side.
Wait for Bandwidth to reach its lowest in 120 - period (John Bollinger mentioned 6 months, but I used 120 - period on
daily charts as an approximate)
Since pictures are always more powerful than words, just take a look at the
following daily chart of $ SPY from the year 2007.
In the
EURUSD daily chart below, we can see the market is approaching key support down near 1.2750.
Since it's always best to assess a potential swing trade setup on multiple chart time frames, let's zoom into the rather interesting, shorter - term
daily chart interval of $ QQQ:
For starters, take a look at the
annotated daily chart of $ EPU below, which highlights our exact buy entry point, as well as our current target price on the $ EPU:
In the
AUDUSD daily chart below, we can see that the path of least resistance was clearly down.
It is true that beginner must master
daily chart first and learn how the market move before moving to lower timeframe H1 or setting own indicator.
The
USDCAD daily chart below shows us a good example of the «value» concept that I discussed in the last example.
Well done Nial, like some of the comments you made
about daily charts how accurate they are, hope the trade turns out well.
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