Please dont think I am taking the lazy way here, I am spending every spare moment studying this thread but just want to confirm that I have this correct.
Big boss = engulfing candles on weekly/monthly chart
Boss = weekly SMA 50 and EMA 20 (plotted as 250 and 100 on 1D chart)
Worker = daily SMA 50 and EMA 20
I have another question about this system - why bother with long term averages on a daily chart? If they are used as support and resistance, isnt SMA 200 more common and reliable? People here seem to be using MA's 100 and 250 to give a vague idea of what is happening on the weekly chart - ummm, why not just LOOK at the weekly chart? surely it would give a better picture of what is happening than long term lines on the daily?
Big boss = engulfing candles on weekly/monthly chart
Boss = weekly SMA 50 and EMA 20 (plotted as 250 and 100 on 1D chart)
Worker = daily SMA 50 and EMA 20
I have another question about this system - why bother with long term averages on a daily chart? If they are used as support and resistance, isnt SMA 200 more common and reliable? People here seem to be using MA's 100 and 250 to give a vague idea of what is happening on the weekly chart - ummm, why not just LOOK at the weekly chart? surely it would give a better picture of what is happening than long term lines on the daily?
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