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🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
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Three Great Technical Indicators Combined Into One Successful Trading Strategy
Thursday, November 24, 2016
Expert: Barry Norman Hosted by: UFX- Forex
- CFD
- Technical Analysis
- Beginners
This class will start out with support and resistance and then add Bollinger bands and finally Gann Fans to complete a great way to find entry and exit points and make successful trades. Regardless of how strong a strategy ever might be; it will never be 100% predictive of market movements. The future is opaque with or without a strong strategy. A good strategy can simply allow the trader to focus on higher-probability setups and situations in an effort to win more money than they lose; so that they may be able to net a profit.
Many strategies don't last forever. They fall in and out of profitability and that is why one should take full advantage of the ones that still work. If something has worked for the past few months or over the course of the last several decades, it will probably work tomorrow. But if we never looked to the past to test that strategy, we might not even realize it was there, or we might lack the confidence to apply it in the markets tomorrow to make money. Knowing that something has worked in the past will thus also give a psychological boost to your trading. Support and resistance has lasted as long as the pyramids in Egypt. Combining these with Gann Fans and Bollinger Bands just makes sense.
The Gann system relies on a centered ideal angle drawn across a price trend at 45 degrees. There are four lines above and four below the ideal angle, all originating from the same price point and extending into the future at different angles. The resulting shape resembles a traditional Chinese hand fan, which is where the indicator gets its name.
Trendlines are usually drawn through two low points in an uptrend and two high points in a downtrend. They can be drawn through a high and low point if the trader chooses. In fact, the subjectivity of trendline drawing can be problematic for inexperienced Gann fan users.
The crux of the Bollinger band indicator is based on a moving average that defines the intermediate term trend of the asset based on the trading time frame you are viewing it on.
Together you will find, time, direction, market swings and future price movement everything you need in a successful strategy.
Barry Norman
Barry Norman is the Director of Investors Trading Academy as well as a published author and educator. Barry brings with him over 35 years of financial market knowledge and experience. He holds an MBA in Finance and Economics from UCLA and an undergraduate degree in Economics from the University of Maryland. Barry was award the title of “Best Education in Europe” by Global Banking & Finance. Barry is also a presenter for the MoneyShow and many well-known news sources.
Many strategies don't last forever. They fall in and out of profitability and that is why one should take full advantage of the ones that still work. If something has worked for the past few months or over the course of the last several decades, it will probably work tomorrow. But if we never looked to the past to test that strategy, we might not even realize it was there, or we might lack the confidence to apply it in the markets tomorrow to make money. Knowing that something has worked in the past will thus also give a psychological boost to your trading. Support and resistance has lasted as long as the pyramids in Egypt. Combining these with Gann Fans and Bollinger Bands just makes sense.
The Gann system relies on a centered ideal angle drawn across a price trend at 45 degrees. There are four lines above and four below the ideal angle, all originating from the same price point and extending into the future at different angles. The resulting shape resembles a traditional Chinese hand fan, which is where the indicator gets its name.
Trendlines are usually drawn through two low points in an uptrend and two high points in a downtrend. They can be drawn through a high and low point if the trader chooses. In fact, the subjectivity of trendline drawing can be problematic for inexperienced Gann fan users.
The crux of the Bollinger band indicator is based on a moving average that defines the intermediate term trend of the asset based on the trading time frame you are viewing it on.
Together you will find, time, direction, market swings and future price movement everything you need in a successful strategy.
Barry Norman
Barry Norman is the Director of Investors Trading Academy as well as a published author and educator. Barry brings with him over 35 years of financial market knowledge and experience. He holds an MBA in Finance and Economics from UCLA and an undergraduate degree in Economics from the University of Maryland. Barry was award the title of “Best Education in Europe” by Global Banking & Finance. Barry is also a presenter for the MoneyShow and many well-known news sources.