The technical I rely on [Nobushi]

There are many technical indicators used to forecast future price movements, but you don't need to memorize and be able to use all of them. It is important to find the ones that fit your trading style from among them. Nobushi, who is both a trader and a dentist, what kinds of technical tools does he favor, and how does he analyze the market?

※This article is a reprint and revision of an article from FX攻略.com November 2019 issue. Please note that the market information written in the text differs from the current market.

Nobushi Profile

A dentist and trader with 10 years of trading experience. He has been involved in trading since high school. His main methods are trend-following day trading and swing trading. He developed an original indicator in 2018. The theme of his life is travel × investment, and he is currently seeking trading partners.

Twitter：https://twitter.com/nobushi_fx/media

Indicators are the Market’s Compass

This time, I would like to introduce and explain the technical indicators (indicators) that I refer to when I trade regularly. I often hear people think of them as “references for trading,” but their purpose is not only to determine entry points. For me, they are mainly used to gauge the market direction, determine exits (stop loss and take profit), and understand volatility, and they do not determine entry points.

When setting out to sail on a voyage, you must clearly know where you are and where you aim to go; otherwise you won’t know how to move. Even if you can decide on the destination, you must quickly grasp where you currently are and which direction you are heading.

The same applies to the market: you cannot make highly advantageous trades unless you recognize what kind of market it is and what kind of trend is forming, or whether it is ranging. This is where indicators come into play.

Perhaps this is different for short-term traders such as scalpers, but as a daily or swing trader, I do not use indicators as the decisive entry signal. I mainly use them to understand the market's nature—whether it is a trending or ranging market, whether the trend is up or down, and whether a reversal is likely.