What’s on my charts?

Happy Friday everyone! I hope your week has been good. I thought I would finish the week with an insight in to what information and indicators I have on my trading charts and how I use these to analyse the markets.

I will show you 2 types of charts. The first is my main chart template that I use for everything from intraday trades through to swing trades and I use it across all timeframes from the 1hr upwards. The second chart template is used explicitly for my day trading strategy and also gap trades as they are normally entered on the 15 minute timeframe and utilise lower timeframe technical indicators.

Before I begin, if you want to learn more about my day trading strategy then I have written a detailed e-book that is available to purchase from Amazon. Click here to download it now!

CB General Trading Chart Template:

GBPJPY 4hr chart

I will keep this simple and use a list to breakdown the chart elements and their uses.

  • Candlestick Chart. I use this style of price chart vs a line chart because of the ability to be able to use candlestick patterns to identify reversal zones and momentum entering the markets.
  • 50 Exponential Moving Average – I use the 50 EMA as a dynamic support/resistance level. This can be used for trading pattern and trendline breakouts.
  • Support & Resistance Zones (horizontal lines) – For identifying potential reversal and reaction zones for price.
  • Fibonacci Retracement Levels – For trend analysis and identifying potential support/resistance zones.
  • CB Vix Fix Volatility Indicator – A custom volatility indicator I occasionally use for an extra confluence.
  • Trendline Tool – For drawing simple trend lines and recording patterns in the markets.

CB Day Trading Chart Template:

GBPJPY 15 minute chart

This is the chart template I use when identifying day trade set ups and also gap trades that usually occur over the weekends. Due to the different nature of the trade strategy and the timeframe they operate on, I use a few different indicators on my chart.

  • Candlestick Chart – I use this style of price chart vs a line chart because of the ability to be able to use candlestick patterns to identify reversal zones and momentum entering the markets.
  • 50 Exponential Moving Average – Used in conjunction with the 200 EMA and market price to identify trends.
  • 200 Exponential Moving Average – Used in conjunction with the 50 EMA and market price to identify trends.
  • Daily Pivot Points – Used to identify daily swing points and reversal zones on the lower timeframes.
  • Relative Strength Index (8) – Used to identify potential reversals in the markets. I have it set to 8 period as that is what I have found to be most effective in backtesting.
  • Trendline Tool – For drawing simple trend lines and recording patterns in the markets.

I hope this post helps some of you to realise that you actually don’t need a chart cluttered with many EMA’s, indicators and lines. Simplicity is key in my opinion and picking a few key trading tools and learning how to use them is much more effective.

I am still planning to do a more detailed article on certain trading tools like Fibonacci Retracement levels and daily pivot points so stay tuned and follow my blog to keep up to date with the latest posts!

Have a good weekend everyone! Spend your free time well and I will catch up with you on Sunday evening to see if we can spot some more gap trades! 🙂

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