Here is something I know you are going to like… Tom Strignano has just added a new Trend Channel Indicator to his Forex Signal Service. For me, this really completed the “Forex Map” I see on my charts. Plus, knowing where you are in the long term channel or short term channel helps you decide which direction to trade and what signals to take.
Here is a short video I did about the Trend Channel Indicator…
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One of the things that sets Strignano’s Forex Signals apart is the levels he calculates and which are placed on your chart using the Pivot Indicator. You get HORIZONTAL support and resistance areas such as pivot points, daily range and the famous Trend Reactionary Numbers. These levels help you understand where you are in the market and keeps you from buying into resistance or selling into support.
But these levels were a little two-dimensional…
Now with the Trend Channel Indicator you get NON-HORIZONTAL support and resistance areas in the form of a long term channel take off the H4 chart and the short term channel taken from the H1 chart. This makes it easy to see the “trend within the trend” and pick your trading direction. (Once you know the direction you want to trade in, it just becomes a question of waiting for the appropriate signals or using one of Tom’s other methods for determining the best time to enter the market).
This indicator might seem a little simplistic in comparison to everything else you get with the service, but I think it is one of the most powerful and really brings everything together. Now I get a 3D support and resistance map on my charts which helps me find important decision making areas. (i.e. Look for areas of confluence where the Horizontal and Non-Horizointal support and resistance meet).
Just another example of how this service keeps getting better.
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[...] Click Here To Watch The Video [...]