You will never control where the market goes next... unless you are a market maker with very deep pockets.
Stop trying to predict where something will be in 6 months and focus on what's happening now.
Your objective as a trader is to manage risk at Distribution/Accumulation points in the markets.
Here we have a chart of tesla.
Custom Candles, Ema Dots Indicator and The Custom RSI
We leverage the candles as confirmation of what price action wants to do as of right now.
If we have strong engulfing candles we NEVER chase.
You need to manage your risk on these compression points.
What we do is focus on the compression points of doji candles as they can shift signs of indecision and potential market exhaustion.
Then we align with the ema dots and rsi for correlation to leave overbought/oversold territory to identify the next major trend.
If you can manage a tight risk on capital on the trend turning points, that is how you win.
You have to risk a little to win big.
If you enter a trend shift and don't set a stoploss and the trend goes against you... that is how a large amount of traders blow their accounts.
You need to understand to manage risk and have the correct setup to identify the best trends in the markets.
It is inevitable that you will catch the next big trend if you play the trends correctly.
Filter out most of the noise and utilize a larger timeframe. Smart money let's their assets work for them over time.
Stop trying to predict where something will be in 6 months and focus on what's happening now.
Your objective as a trader is to manage risk at Distribution/Accumulation points in the markets.
Here we have a chart of tesla.
Custom Candles, Ema Dots Indicator and The Custom RSI
We leverage the candles as confirmation of what price action wants to do as of right now.
If we have strong engulfing candles we NEVER chase.
You need to manage your risk on these compression points.
What we do is focus on the compression points of doji candles as they can shift signs of indecision and potential market exhaustion.
Then we align with the ema dots and rsi for correlation to leave overbought/oversold territory to identify the next major trend.
If you can manage a tight risk on capital on the trend turning points, that is how you win.
You have to risk a little to win big.
If you enter a trend shift and don't set a stoploss and the trend goes against you... that is how a large amount of traders blow their accounts.
You need to understand to manage risk and have the correct setup to identify the best trends in the markets.
It is inevitable that you will catch the next big trend if you play the trends correctly.
Filter out most of the noise and utilize a larger timeframe. Smart money let's their assets work for them over time.