I'm going to be accused of heresy here but I want to warn people against relying too much on EMA's / SMA's,
I battled with trying to use them for 2 years (see my DASR trading journal thread) but one has to remember that they are lagging indicators - they tell you what's happened in the past - NOT always a reliable indication of what's going to happen in the future
That's why I've moved on now to breakout trading using CCI as a main tool. But my pending trade breakout strategy is really another form of it - banking on a future event - not relying on old news!
Rgds
Jerry
I battled with trying to use them for 2 years (see my DASR trading journal thread) but one has to remember that they are lagging indicators - they tell you what's happened in the past - NOT always a reliable indication of what's going to happen in the future
That's why I've moved on now to breakout trading using CCI as a main tool. But my pending trade breakout strategy is really another form of it - banking on a future event - not relying on old news!
Rgds
Jerry