What is the most influential technical tool from the following list

[athlonmank8]

Price is underneath all the averages and they are all pointing down. How does they have any bearing to go long?

You're exactly right. This wasnt an ideal example. I was stopped out @ 1.2985. It's bearish.

The trade had a 14% breakeven probability (100 pip return vs 15 pip risk) but I had the odds a bit better off that level. Looks like others did too given the sizeable collapse after getting stopped out. It was low probability but the return would have been good.

I'll post up a trade more in line with what you mentioned and what I had typed earlier. It will resemble the breakout on 12/4.

 

[deaddog]

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Exactly. I'm NOT really sure what a ''horizontal level ''is ??.LOL Sounds like another name/nickname for a grid, or 50% of a grid LOL ,

My guess would be support and resistance levels.

 

[athlonmank8]

I know im bouncing around and I apologize. Here's the current channel support. As stated in the original post I prefer channels. Waiting for price to touch. The GBP/USD follows this structure better than other pairs.

I really appreciate the responses guys. It was nice getting the feedback. My goal is to give something back here. Sorry if I'm not doing a good job with the thread.

 

[tommcginnis]

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No, not the way he worded it. I've see straight trendlines drawn all over the pace, biggest mess I've ever seen, except for grids======== not really trendlines -no wonder so many hate TA/straight lines.LOL……………………………………………………………………………………………………….
View attachment 215697werte hit bottom once , on QQQ , so late in the year, so each to his own.

Exactly. My *poorly* worded comment was directed at those who choose two widely-space price points, draw a connecting line, and declare, "Look! TRUTH! A Trend Line has been birthed!" I prefer something with jussssssst a bit more substance -- like the Channels derived from Envelopes, or Boll. Bands, etc., as per Schizo's comment.

 

[murray t turtle]

Exactly. My *poorly* worded comment was directed at those who choose two widely-space price points, draw a connecting line, and declare, "Look! TRUTH! A Trend Line has been birthed!" I prefer something with jussssssst a bit more substance -- like the Channels derived from Envelopes, or Boll. Bands, etc., as per Schizo's comment.

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Exactly. I like auto drawn trend lines[ 200 period moving average........]; it avoids trader/investor bias. Adding to the fun ;more than several Ways to auto draw a 200 period ma,

 

[SunTrader]

Tom DeMark Trendlines, which is what I prefer, are mechanically derived from price action itself and have qualifiers/disqualifiers.

 

[murray t turtle]

My guess would be support and resistance levels.

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Exactly what TA needs;
another name for the same stuff. LOL=LOL...................................................................

 

[Slope Trader]

Simple poll. Personally channels are probably one of the most respected tools and would be my go to. I use them for breakouts, level reentry, and simple S/R.

If you want to put a 2nd tool in your response feel free.

Just kind of curious what you guys feel would be your #1 if someone were to put a gun to your head and told you to trade just 1.

I selected moving averages and would have also chosen momentum indicators if they had been included in the list. Have been able to develop tradeable systems using indicators such as Ehlers Stochastic, StochasticRSI and Relative Momentum Index.

 

[LloydPhill]

Which ever way you look at it, Moving Average is most influential.

 

[SunTrader]

Think OP meant most influential to the individual, not sheeple.