Hi friends
One trader I met recently, uses ma79 and ma89 lines for detecting major support or resistance. Minor trends are covered by ma21 and ma10.
WHEN HE TRADES LONG,HE DOESNT TAKE ANY SHORT TRADES.
Have a look. If it suits your nature and timeframe,make rules and test then trade if acceptable.
Ruleset
timeframe above 15 minutes say 20min onwards up
If ma79>ma89 and if ma10,ma21 both above ma79 ma89,if ma10>ma21 long trades only
go long -buy on pullback to low
if ma79<ma89, and if both ma21 & ma10 are below ma79,if ma10 is below ma21,short trades only,
go short
go short as price pulls back to peaks.
scalpers having confidence can try just ma10 & ma21 crossovers
ford
One trader I met recently, uses ma79 and ma89 lines for detecting major support or resistance. Minor trends are covered by ma21 and ma10.
WHEN HE TRADES LONG,HE DOESNT TAKE ANY SHORT TRADES.
Have a look. If it suits your nature and timeframe,make rules and test then trade if acceptable.
Ruleset
timeframe above 15 minutes say 20min onwards up
If ma79>ma89 and if ma10,ma21 both above ma79 ma89,if ma10>ma21 long trades only
go long -buy on pullback to low
if ma79<ma89, and if both ma21 & ma10 are below ma79,if ma10 is below ma21,short trades only,
go short
go short as price pulls back to peaks.
scalpers having confidence can try just ma10 & ma21 crossovers
ford
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