Posted On: 05/28/2014 4:25:09 PM
Post# of 56324
Hello thegman
You are looking at the BID and ASK on L2
What you need to look for is the close, if you are trying to better understand market trend/data, etc., you want to watch for on the following trading days should include PPS going higher than the next (current) SMA resistance level. In this case the Daily chart currently has the SMA50 at .0783 and the SMA100 at .0708 Today's close was higher than the SMA100 but lower than the SMA50. When closing occurs higher than the SMA then that SMA becomes support rather than resistance. You also need to correlate price action with CMF, RSI, MACD and Volume
Those are the indicators I mostly utilize although there are many others also available for you.
Hope that helps you out
You are looking at the BID and ASK on L2
What you need to look for is the close, if you are trying to better understand market trend/data, etc., you want to watch for on the following trading days should include PPS going higher than the next (current) SMA resistance level. In this case the Daily chart currently has the SMA50 at .0783 and the SMA100 at .0708 Today's close was higher than the SMA100 but lower than the SMA50. When closing occurs higher than the SMA then that SMA becomes support rather than resistance. You also need to correlate price action with CMF, RSI, MACD and Volume
Those are the indicators I mostly utilize although there are many others also available for you.
Hope that helps you out
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