The Golden Cross is a useless indicator that uses extremely long SIMPLE MAs, conveying absolutely no info about the current market. It’s sole purpose is to increase hype & get inexperienced retail buyers to FOMO buy in anticipation of the cross. Meanwhile, smart money takes profits & reups on the ensuing dump.
My chart only uses EMAs. I couldn't care less about SMAs. In the above chart, on the date of the the 1st vertical line from right, the 100EMA crosses over 200EMA. On the date of the 2nd line from the right, the 50EMA crosses over 200EMA. On the date of the 3rd line from the right, the 12EMA crosses over 26EMA. The 3rd is my trigger indicator for entry, which is roughly $2.3K difference in price (~30%) over 43 days from where price was at at the time of the Golden Cross. What additional proof do you need to accept that simple MAs, particularly ones with long periods like that of the so-called "Golden Cross", are USELESS indicators. If you do want more proof then check this out www.uptrennd.com/pos...oax-of-2019~MTgzNzc3
Thanks for reading.
My chart only uses EMAs. I couldn't care less about SMAs. In the above chart, on the date of the the 1st vertical line from right, the 100EMA crosses over 200EMA. On the date of the 2nd line from the right, the 50EMA crosses over 200EMA. On the date of the 3rd line from the right, the 12EMA crosses over 26EMA. The 3rd is my trigger indicator for entry, which is roughly $2.3K difference in price (~30%) over 43 days from where price was at at the time of the Golden Cross. What additional proof do you need to accept that simple MAs, particularly ones with long periods like that of the so-called "Golden Cross", are USELESS indicators. If you do want more proof then check this out www.uptrennd.com/pos...oax-of-2019~MTgzNzc3
Thanks for reading.
