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Posted On: 09/14/2017 7:45:49 PM
Post# of 75357
bjd- Here are some levels I am keeping an eye on, daily and weekly, no rush.
The first chart is a daily and a good example of why the 20ema (moving average) is important to me after it crosses below the 50ma.
The opposite is also true, ie when the 20ema moves back above the 50ma and price closes above it, then I like it to help act as an additional support on the way up. Moving averages are secondary to me, horizontal price levels where volume was big are always my first area to look at for support.
Here is the same level on a Weekly chart and why this .03 area has been strong in the past, i am very interested in seeing it hold here:
All the best and thanks again for your insights today!!
The first chart is a daily and a good example of why the 20ema (moving average) is important to me after it crosses below the 50ma.
The opposite is also true, ie when the 20ema moves back above the 50ma and price closes above it, then I like it to help act as an additional support on the way up. Moving averages are secondary to me, horizontal price levels where volume was big are always my first area to look at for support.
Here is the same level on a Weekly chart and why this .03 area has been strong in the past, i am very interested in seeing it hold here:
All the best and thanks again for your insights today!!
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The fruits of your success will be in direct ratio to the honesty and sincerity of your own effort in keeping your own records, doing your own thinking and reaching your own conclusions - Jesse Livermore
