One combination of indicators I use are crossing Major Averages, RSI and Volume.
This is one example where these indicators have lined up to tell me to be ready to buy.
Why?
On the 1 Hour Chart, Price is now supported by the 20, 50 and 100MAs and has run up to the 200MA.
There was a large pierce off the 200MA, but it was solidly rejected...so back here again...need to watch for a pierce and possible rejection again...but if you have a tight stop...potentially good entry point as taking all the MAs should lead to much more upside, until the MAs start crossing the other way.
RSI is just starting to show strength at just over 54...plenty room to run.
Volume has been low, so also lots of room to run.
So getting ready to buy when CONFIRMED over the 200MA.
To me, confirmed = two candle closes above the 200MA.
I am not a professional and am not offering investment advice. Use your own head :-)
This is one example where these indicators have lined up to tell me to be ready to buy.
Why?
On the 1 Hour Chart, Price is now supported by the 20, 50 and 100MAs and has run up to the 200MA.
There was a large pierce off the 200MA, but it was solidly rejected...so back here again...need to watch for a pierce and possible rejection again...but if you have a tight stop...potentially good entry point as taking all the MAs should lead to much more upside, until the MAs start crossing the other way.
RSI is just starting to show strength at just over 54...plenty room to run.
Volume has been low, so also lots of room to run.
So getting ready to buy when CONFIRMED over the 200MA.
To me, confirmed = two candle closes above the 200MA.
I am not a professional and am not offering investment advice. Use your own head :-)