|
Start with the chart on its own, with no indicators.
Get a book on price patterns, which should also include stuff on dow theory, and while your reading the book, start tracking a chart say 15min time frame, read the chart in real-time, and I MEAN READ it. Try to anticipate patterns as the develop in real-time. Try to get a feel for the market and the way it behaves, i.e. its different phases, and what they mean to the subsquent trends.
You don't need any indicators, especially if your a beginner, as you have already experienced you will not be able to take it all in !The last thing you want to be watching is a spagheti western chart with multiple lines and indicators drawn all over it.
Chart reading is a skill you acquire with experience, theres no short-cut, and a few good books will help you understand the main patterns better.
|