How to Identify the Bigger Technical Triggers
In this video, Richard Adcock, a Technical Analyst from the Corellian Academy, provides key technical signals that could help traders potentially benefit from long-term bullish or bearish market trends.
According to Adcock, using technical indicators can increase the chances of identifying long-lasting upward or downward market trends. In addition, analyzing the market from different time frames may be crucial, as it can help traders determine the trend's strength and longevity by observing consistent patterns from daily, weekly, and monthly perspectives.
In addition to providing traders with a comprehensive view of market dynamics, multi-timeframe analysis may help them gain confidence in identifying trends and learn how signals change over time.
Furthermore, it may be important to note that since markets are known for their volatility and dynamic nature, a change in market sentiment may occur when prices reach a higher level than their previous high points. As such, whenever there is a shift in directional risk (from bearish to bullish or vice versa), this shift is typically observable first on shorter-term charts.
Nevertheless, Adcock mentions that traders can still potentially benefit from combining various timeframes and technical indicators even during short-term corrections or retracements in prices. This approach can help traders effectively manage risks while staying aligned with the overall trend.
In conclusion, identifying and understanding major technical triggers when trading is crucial to a trader’s overall success.
