DislikedHi Ovaforty,
Could you point me to a place where I could read about moving averages on different timeframes? Many thanks.Ignored
If you google them, you will find everything you need. Best way is to put them on your chart and watch 'em.
Ask yourself these questions:
1. which direction are they pointing?
2. what is the slope of the angle? Is it flat, or bending or heavily sloped? A strong move is indicateded by 45% or greater slope.
3. Is the shorter time crossing the longer time? Which direction?
4. what is the next target? Has the priced has crossed the 22 period moving average on the hourly? That should be corresponding with the daily candle pivot.
A strong break would target the 50 or 55 ema/moving average...(Example only)
Then you must confirm crossover'swith your other indicators, whatever they may be. A trader who makes trades using only one indicator risks losing the trade.
I hope Aus does not mind if I answered this question that was asked to me...
Much respect Aus, and the others. You know who you are....