[quote=CanuckCT;2700584]Exactly Delta....the use of the 8SMA is when you catch a trade that starts to trend.
It's one way to keep you in a trade that really starts to move in your favor. The way I use it is if there are 2 consecutive candles that close on the other side of the 8SMA, you close the trade. So basically you check it every couple of hours when price is near the moving average..
The other thing I look at is significant points of support and resistance using H4 and up and the hourly MACD cross.
tks canuck for your elaborations! really appreciate.
It's one way to keep you in a trade that really starts to move in your favor. The way I use it is if there are 2 consecutive candles that close on the other side of the 8SMA, you close the trade. So basically you check it every couple of hours when price is near the moving average..
The other thing I look at is significant points of support and resistance using H4 and up and the hourly MACD cross.
tks canuck for your elaborations! really appreciate.