Simple moving averages 1-200 create this FishNet pattern. Together all the moving averages create support and resist levels. Works well on multiple timeframes.
GBPJPY Retested broken trend line. 200EMA Acting as dynamic resistance 0.382 On fib acting as resistance? Enter IF Maybe enter if there is candle stick pattern. If there is bearish 8EMA21SMA crossover. If there is nice big bearish candlestick formation. There is a lot of bearish volume. Or on my other trade you can see a nice support zone on this pair. If it...
Pair was stretched away higher from the ma's and fell back to them and then passed through both. Now it is on it's way to the 800 sma. Watch for a retrace on the 15m chart for an entry point. A measured TP can be the distance above the ma's will equal the distance below the ma's. First TP is the measure TP @ 1.1814 and the second TP is the 800 sma @ 1.1746 but my...
CAD/HKD 4H Chart: Channel Up The Canadian Dollar is trading against its Asian counterpart simultaneously in a medium-term rising wedge and short-term ascending channel. As regards the dominant formation, its lower support line practically coincides with the 55-hour SMA, while the other line represents an upper boundary of the junior pattern. As...
EUR/JPY 4H Chart: Symmetrical Triangle The ECB President Mario Draghi’s speech last week caused a lot of anxiety in the markets and pushed the Euro into a symmetrical triangle against the Japanese Yen. The pattern has already two reaction highs and two reaction lows, which means that the current round most probably is going to end with the breakout. An...
Gold has came back down to the 100 SMA on the Daily timeframe which is also in confluence with a support level. On the weekly timeframe, a bullish hammer has formed and to make this trade even better, in terms of oscillators, gold is oversold. TP for me is the previous weekly high and my stop will be just under the weekly bullish hammers low.
Nothing seems to move up or down (yet) in Bitcoin world, so in the mean time, would you kindly share with me what you think about EMA, SMA etc? Are they rather old? Any use? If you are utilizing them, which MA, which parameter do you choose and why? Personally I used EMA 10, 20, and 50 back when I traded Gold, but now my friends seems to ignore MA altogether, haha.
EUR/USD Short: Technical analysis only Stochastics overbought and death cross, gap has to be closed in the same levels as fib levels .382 and .618, weekly downtrend, daily uptrend. Mention that we are over SMA 200 - not necessarily a good sign for this idea. Risk/Reward: 2.76