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Questions and StoriesCategory: QuestionsWhat Is Your Favorite Indicator for Entry Confirmation?
Nnaemeka Victor asked 3 months ago
Kumaran Rahavan replied 3 months ago

Major support/Resistance levels, trend and some candlestick formations in higher timeframe and entry in the same direction in lower timeframe are my trade entry confirmation.

Nnaemeka Victor replied 3 months ago

REALLY, THAT IS GOOD.

Tshepiso replied 2 months ago

I will go for Bollinger bands and candlestick

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17 Answers
Kenneth Ogbonnaya answered 3 months ago

My favorite indicator for entry confirmation is Bollinger bands 
 

jeankomaro replied 3 months ago

My favorite indicator for entries confirmation is bollinger band combined with a strong trade set up like bearish engulfing pattern break the bollinger upper band.

Heng-Ho Lee replied 3 months ago

Only you trade a Stock in Play, your strategy got a chance to work out. See page 166 of “One Good Trade”by Mike Bellafiore.

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David Matlala answered 3 months ago

I normally use the RSI or MACD for confirmation.

James0608 replied 3 months ago

I still believe candle stick patters and formation are the best indicator to use to take positions. The other indicators work as supporting tool for your decision.

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Eli Davis Keinamura answered 3 months ago

Bollingger bands and relative strength index are indicators I use for trade confirmation .

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Ahmad Khasan answered 3 months ago

It has been a long time since the last time I trade forex. As I remember, I only use the 9- and 5-period moving average. If the 5MA crosses the 9MA from below, then I buy. And vice versa. I used it on EUR/USD 5-minute time frame. I use a five pips stop loss, and 15 points take profit. As I can remember, I was always right, only when I controlled my emotion.

When I got right on my first try, I was tempted to open the next position. And as you can predict, I was lost. And I got angrier at myself and opened another position and got lost again. Then I cannot control my emotion properly until I forgot all of my trading plans. And finally, I wiped out my account.
 
After then, I knew that unless I can master my emotion, I will never master the market. Then I stopped trading forex. And I founded the Luckscout website. Now I know what steps should I take before starting my trading again.
 
Thus, I believe that my controlled emotion is my favorite and most accurate indicator for entry confirmation.

Nnaemeka Victor replied 3 months ago

YOU ARE RIGHT

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Jonathan answered 3 months ago

I am inexperienced traders but whenever I analyzed the market, the indicators which tell me for entry confirmation are always candlestick and RSI. Macd is also very useful for entry.

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Gareth White answered 3 months ago

I try not to use typical indicators anymore – I work off price action and key areas of support and resistance

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Leno Jean Pierre answered 3 months ago

As candlesticks are the real time indicators,I you candlestick pattern and wait for their confirmation to enter a trade. In additional of that I use bollinger band and RSI to confirm an entries.

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Leno Jean Pierre answered 3 months ago

Sometimes I use RSI and bollinger bands.
At the beginning I used to use Alligator.

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Leno Jean Pierre answered 3 months ago

I do use bollinger Bang more than RSI.
Alligator was the first one when I started trading.

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Nnaemeka Victor answered 3 months ago

I  WOULD TRY SOME OF THE INDICATORS POSTED HERE

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Leno Jean Pierre answered 3 months ago

Apart from Bolliger bands and RSI ,I use Alligator for confirmation. My favorite remain Bolliger bands.

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Kenneth Ogbonnaya answered 3 months ago

Bollinger bands is the indicator I most prefer for entry signals in forex trading.

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Gareth White answered 3 months ago

Bollinger Bands is certainly a consistent and popular one to use.

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Leno Jean Pierre answered 2 months ago

Each one has its preferency, there are those who like RSI, Fibonacci, MACD etc.
As i mentioned above i like Bollinger bands. Sometimes i use RSI and Alligator. The most important is to make profit,

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Nnaemeka Victor answered 2 months ago

Whichever indicator you prefer,  try to master it properly and combine it with technical analysis.

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Leno Jean Pierre answered 2 months ago

Yes ,Mr Nnaemeka Victor you really spot on. Indicator works better if you make a good technical analyses and Master the indicator properly.

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Kenneth Ogbonnaya answered 2 months ago

Bollinger bands is the best indicator I use for entry signals.

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