What I do is have Daily chart S/R on H4 chart n crossover, but just using 50EMA acts pretty good as a bounce off from those lines.... Does the price breaking the 50EM has any significance ? Sometimes it breaks for few bars on H4 and then reverses...
@TomHall, I was just giving it a try, and it acts a very good confirmation tool, most of the time the price accumulates and drops/rises from EMA50. Thanks for the information, MA crossovers were sore to my eyes.
@TomHall, Thing is Tom - we should know what we are doing - and most of us do - but to have you there - backs up what I personally was thinking doing. and then to see it confirmed by your analysis, and my own meager understanding - makes it a lot clearer. I have a normal - Mundane job, to double my weekly income with trading is a bonus, and I'm getting so much closer to believing that I can do it without the day job! It helps when you echo my own understanding of the markets after yers of mistakes... Love you!
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