Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
There are 2 types of levels: static and dynamic. Static levels are obvious and not difficult to find, they are very visual: Highs and lows of - days, weeks, brackets and months. Dynamic levels in my view (or system, doesn't matter, system and view in this thread are interchangeable) are moving averages. Any: simple, exponential, etc.
As I prefer simplification, I use only simple moving averages.
208 SMA - Very strong level. Pay attention how many times price is rejected by this level, and it is often turning point for price move.
52 SMA - less important level, but I don't ignore it because of the same reasons for 208 SMA.
Can you help answer these questions from other members on NexusFi?
I call this combination Fan of Moving Averages. (looks like alligator of bill williams?). There is reason for using this combination of moving averages certainly. But I am not fan of viewing this as a science and don't want to be too exacting. Periods of moving averages can be any in case they serve you as an indication of direction on higher timeframes.
I'm done with my trading for today. Will watch only until settlement.
As it is known to most of us that pscyhology is 50 percent of trading, I remembered a saying by one of popular traders, don't remember who was that right now.
"The worst days in trading come after the best ones, so try to make those days less worse".
Well i use it for Confirmation, and if i do enter the Market on another Indicators Signal other than PSAR and it does not soon appear to Confirm i will look to tighten my Stop.
Also i do use it for Trailing my Stop and it also helps me to stay in a move.
You can see how i have my Charts set up as i use more than one size of the Renko bar chart, but with the same Indicators.