Internet and TV pundits will have you think that the currency doom is upon the United States and the world. Once again fiat currencies (such as the Dollar) has proven the crypto fanatics wrong. No, Dollar will not die and will be replaced with bitcoin, dogecoin or other crapcoin. Dollar is here to stay and it just broke out into a new Bull market on July 13, 2021. This is already weighing on gold and silver. Gold miners ($GDX) are about to hit new lows.
Open your mind and think for yourself by simply looking at the chart!
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How to understand price action.
It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
You can also think of these indicators as moving pivot points .
MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long (buying).
For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling).
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). A stock has to close below the Yellow line first, then rally towards the Red line and top out there. This is where I would short it.
Open your mind and think for yourself by simply looking at the chart!
---
How to understand price action.
It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
You can also think of these indicators as moving pivot points .
MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long (buying).
For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling).
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). A stock has to close below the Yellow line first, then rally towards the Red line and top out there. This is where I would short it.
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@mastercharts
Visit my financial blog & get alerts : www.masterchartstrading.com/blog
@mastercharts
