Help with charts

[trader555]

Attached is todays hourly chart of SPY. Nice trending day!!, isn;t it?

However, i need someone to help me with a day like this, how can i avoid being whipsawed at the red bar, highlighed in green colored oval? Appreciate your feedback.

 

[loke4300]

Nice trending day!!, isn;t it?

yup, now visible after the day's over.

I guess you use the moving avg. crossover technique to time your entry. And i see that both the averages are of short time frame. Where is the longer time frame moving average which tells you the overall trend for the day?

Note: i'm not referring to the chart time period. I'am referring to the Moving average period. like a 50MA/100MA


Suggestion: Add a MA of 50/100 for the big picture. IF price is above 50MA - Only LONG opportunities would be identified [with crossover of the 2 short MAs], No SHORT. and vice versa.


best wishes.

 

[trader555]

Yes, I am using 3 period and 5 period EMA. Note this is swing trading on a given day. If i use longed period MA, I will be entering the trade too late, when the swing had already started and will be exiting the trade too late, much after the swing is over.

Precisely, I am looking for some indicators which can tell me that the red bar in green colored oval is fake signal and the swing is indeed not over!! Appreciate any feedback.