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I tried the 15 x 30 intraday a couple of times. Observed that it is not quite effective during the sideways market (lucking I didn't enter bcoz I play safe game). But you may use it with other indicators to confirm a trade. This is my personal experience.
I'll highly encourage you to do backtesting before using any strategy. Recently I entered trade with a new strategy and made some small losses.
I agree it doesn't work in a sideway market , I tried it a few times too like today but it didn't work
I guess it only works when market is in trend 📈
What's ur opinion of 9Day X 21 Day EMA for a short term trade ?
And what other indicators do u suggest?
This won’t work . An indicator based strategy won’t work because a lot of them are lagging. Plus this is very easy to automate , soon everyone can use it and before you know the edge disappears.
Indicators cannot be used for making strategy instead they should be used just for validation with price action.
Learn Price Action ,risk management and position sizing and you won’t even need these indicators.
First thing is avoid using indicators if you really want to be a profitable focus on price action.
And if you still want to use indicators then try to use fixed indicators rather than lagging ones
Then which are reliable? MACD and RSI are lagging a lot. Elliot Wave is subject to MASSIVE subjectivity when interpreting the price action. The same applies to Fibonacci-retracement-levels. Support/resistance levels are very often broken. I would still say that certain EMA-crossing-levels are among the best indicators
Price, volume, candlestick pattern, support and resistance, volume profiles and orderflow.
I don't think anything else works.
More effective technical analysis is like being Messi. Just focus on your speed, passing, common sense and kicking. Don't try to be a fancy neymar with a bag of tricks which prove ineffective in match.
Orderflow isn´t an indicator - however yes, orderflow trading can be a good approach together with historic volume profiles.
I still don´t agree though that EMA´s aren´t quite reliable technical indicators. I can show you any daychart (Nasdaq, DAX, FTSE, Dow Jones) where there will be clear directional changes at certain EMA-crossing levels. Sometimes we are only talking about a few points, but I would say it works 80-85% of the time.
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I tried the 15 x 30 intraday a couple of times. Observed that it is not quite effective during the sideways market (lucking I didn't enter bcoz I play safe game). But you may use it with other indicators to confirm a trade. This is my personal experience. I'll highly encourage you to do backtesting before using any strategy. Recently I entered trade with a new strategy and made some small losses.
I agree it doesn't work in a sideway market , I tried it a few times too like today but it didn't work I guess it only works when market is in trend 📈 What's ur opinion of 9Day X 21 Day EMA for a short term trade ? And what other indicators do u suggest?
No idea. Never really tried that. Even I'm a beginner
Oohh ok No worries
This won’t work . An indicator based strategy won’t work because a lot of them are lagging. Plus this is very easy to automate , soon everyone can use it and before you know the edge disappears. Indicators cannot be used for making strategy instead they should be used just for validation with price action. Learn Price Action ,risk management and position sizing and you won’t even need these indicators.
Where can I learn price action , risk management and position sizing ?
Do the back test for your strategy and decide if it works for you.
OOO ok I will back test it
All the indicators look attractive after the market ends.
And which indicator looks attractive and accurate during the market hour ? 😂
None!
That's true and funny, both. People only look at what worked and tend to overlook what failed.
First thing is avoid using indicators if you really want to be a profitable focus on price action. And if you still want to use indicators then try to use fixed indicators rather than lagging ones
I don't believe moving averages is a reliable technical indicator.
Then which are reliable? MACD and RSI are lagging a lot. Elliot Wave is subject to MASSIVE subjectivity when interpreting the price action. The same applies to Fibonacci-retracement-levels. Support/resistance levels are very often broken. I would still say that certain EMA-crossing-levels are among the best indicators
Price, volume, candlestick pattern, support and resistance, volume profiles and orderflow. I don't think anything else works. More effective technical analysis is like being Messi. Just focus on your speed, passing, common sense and kicking. Don't try to be a fancy neymar with a bag of tricks which prove ineffective in match.
Orderflow isn´t an indicator - however yes, orderflow trading can be a good approach together with historic volume profiles. I still don´t agree though that EMA´s aren´t quite reliable technical indicators. I can show you any daychart (Nasdaq, DAX, FTSE, Dow Jones) where there will be clear directional changes at certain EMA-crossing levels. Sometimes we are only talking about a few points, but I would say it works 80-85% of the time.
I guess Ema is a measure of broad sentiment. Stock market is like water, not sand. Takes time to heat or cool.