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Announcements

This site is currently inactive as I have decided to move away from exclusively trading Forex in 2010 and as such will not be taking on new coaching clients in this area.

 



I have resumed my focus on coaching as a stock market mentor where I run a success guaranteed stock trading mentorship program

 



Additionally, you can now get access to what I consider to be the best stock options daily trade alert service.

 



Of course, I am biased and with a success rate fluctuating between 68.2% and 72.4% it is hard not to be biased.

 



If you do want to follow along with what I am doing every day you can get access to my daily stock market report 

 

 

You can read the step-by-step Bollinger Band Trading Strategy Guide - this is my main active trading strategy



Until next time


happy trading 


Mr Phil Newton or on LinkedIn Phil Newton trader

Analyzing long-term charts

Joe_Ross's picture
This question was sent to me from one of our students: "Hey Joe! What can I hope to learn from viewing long-term charts?" The longer term charts can be very revealing, even if you are a shorter term trader. Longer term charts are educational, and definitely help you see things in perspective. Pay attention to what you see, and analyze in accordance with the following questions: Note the yearly ranges for the commodities you trade. What is this yearly high and low, are they higher highs, lows and closes compared to last year? Does the close confirm price ac¬tion? What is the long term trend? How does this years range compare to last three years' average range? Should next year have greater volatility than this year? How much in dollars was the price move from the annual lowest low to highest high? How much did you take out of that range? What should next years high and low be for the commodities you trade based on the yearly trend analysis? These questions define the yearly long term price bars, use the monthly price bars to answer them. Use weekly price bars to answer major trend questions for monthly highs and lows.