04-03-2021, 09:10 AM
My 2 cents in the Moving Average method. Technical analysis is not magic but the MAs represent common sense IMO. 50 day is so popular because it represents the price for the past year, do you want to be long under that price level? Not me.
If people would consider what things represent it would make much more sense to them.
Similar to an opening price (ANY opening price-day-week-month-year) on the timeframe which you are trading. You will NOT find me long ES, below that opening which I am referencing from. Doesn't make sense to me to think that I know where the turn will come (although on ES I do have a good idea) I would rathe be long when price IS going up and short when price IS going down.
Good luck to all and Happy Easter to those whom it applies.
If people would consider what things represent it would make much more sense to them.
Similar to an opening price (ANY opening price-day-week-month-year) on the timeframe which you are trading. You will NOT find me long ES, below that opening which I am referencing from. Doesn't make sense to me to think that I know where the turn will come (although on ES I do have a good idea) I would rathe be long when price IS going up and short when price IS going down.
Good luck to all and Happy Easter to those whom it applies.