http://www.netpicks.com/naked-chart-reading/ - Read more One of the great things about trading virtually “indicator-less” is you can see in real time what is going on with current price without it hiding behind a mess of indicators. Naked chart reading is simply looking at a chart with next to no indicators on the screen. If your first instinct is to check out an indicator on your chart for a trading decision, you are already a little late to the party since most indicators are a derivative of price. This is not to say that indicators are worthless but should not be the main driver of your trading decisions. Naked Chart Trade Example Markets alternate between trending moves and price compression and there are opportunities to be had in both states of your market of choice. When markets are trending, you have the opportunity for continuation moves or trend termination trading plays Once the markets find a consolidation area, you now have the opportunity to play a support (resistance) holding or failing play. Four types of trades and there are literally hundreds of ways you can take advantage of these trading opportunities. In the chart below, there is a move we see time and time again because it is the nature of the markets. - See more at: http://www.netpicks.com/naked-chart-reading/

2. Most indicators are a
derivative of price
therefore they lag price

3. Trending
Compression
Trending

4. 4 types of trades and
there are hundreds of
ways you can take
advantage of these
opportunities

7. 1. Resistance will hold
and you play a short
back into the
consolidation

8. 2. Resistance will fail
and price will rally to
the upside.

9. Multiple Time Frames

10. What type of structure
is playing out in that
time frame?

11. Is it more bullish
indicating a higher
probability of a
resistance fail?

12. Is price starting to put
in upper shadows and
lower lows indicating
that the bears have
control?

13. What does the
CURRENT chart imply
occurred on the lower
charts?

16. www.netpicks.com/simple-range-trading-strategy/

17. After price breaks out,
break out traders and
those waiting to see
bull interest pile into
the trade

19. Reading the forming
structure can give you
a profit exit

20. Fail to watch the price
action unfold and what
it will leave behind

21. ….more importantly
the structures it will
leave behind

23. Long interest still
taking place

26. There was no reason
to hold on when it was
obvious that the move
was in trouble

27. We can either have
a trend termination
type of trade or a
resistance holding
trade setup

28. What should happen?

29. Failed expectations

30. We can only work with
what we have at the
present moment

31. It gives you a reason
to exit

32. Stop over the highs
allowing for noise

33. Candlesticks give you
an "inside view" of
who is doing what at
each point in the chart

34. Lower time frames can
indicate who runs the
show in the higher time
frame – bulls/bears

35. Scroll through your
charts and look for
failed expectations

37. It's also not the only
way to trade

38. It’s not the tool…it’s
the usage of the tool

41. It will be the structure
of price that will
determine if a trade is
going to be placed