Ok, I get some PMs from time to time asking me to explain Gann, QQE, momentum and 5sma. I just replied someone and thought I'd post it here as well.
I'll try to explain how I use these indicators as briefly as I can.
I'll keep it simple.. the Gann hilo is used as Support/Resistance, sometimes price will bounce off it. Another thing is If price is trading below the Gann hilo, let's say on the Daily chart then I'll be favoring the bears and try to find bearish set-ups on smaller TF's, you should also keep track of the QQE.
Example:
If Daily QQE crosses upwards and Daily candle closes above the Gann hilo, then the Daily chart just turned bullish to me and I'd be buying dips (most probably around the Daily 5sma)
The momentum is used with the Daily 5sma, I mostly use it to try and catch retracement, The most important thing is the angle of the momentum at the beginning of the candle and not during the candle.
Example:
Let's say we had a rally on the Daily chart and price is currently 209, Daily 5sma is at 207.10 and the momentum at the beginning of the new daily candle is pointing slightly down, that indicates price will retrace to the Daily 5sma and most likely resume upwards the next day.
You must follow real price action and practice to grasp it
I'll try to explain how I use these indicators as briefly as I can.
I'll keep it simple.. the Gann hilo is used as Support/Resistance, sometimes price will bounce off it. Another thing is If price is trading below the Gann hilo, let's say on the Daily chart then I'll be favoring the bears and try to find bearish set-ups on smaller TF's, you should also keep track of the QQE.
Example:
If Daily QQE crosses upwards and Daily candle closes above the Gann hilo, then the Daily chart just turned bullish to me and I'd be buying dips (most probably around the Daily 5sma)
The momentum is used with the Daily 5sma, I mostly use it to try and catch retracement, The most important thing is the angle of the momentum at the beginning of the candle and not during the candle.
Example:
Let's say we had a rally on the Daily chart and price is currently 209, Daily 5sma is at 207.10 and the momentum at the beginning of the new daily candle is pointing slightly down, that indicates price will retrace to the Daily 5sma and most likely resume upwards the next day.
You must follow real price action and practice to grasp it
Trade what you see, not what you think.