#TrendIdentification: While i have written a whole chapter on @Traders82 handle on How to identify trend using #EMATradingStrategies. Re writing the same with couple of charts for easier understanding. For detailed read, please visit @traders82. There are 4 Chapters. Please RT.
#EMATrading: Use 3, 7 and 9 - EMA - Setting Close on any Chart.
Uptrend: 3 Crossing Over 7 Day EMA.
DownTrend 3 Crossing Down 7 Day EMA.
Uptrend: 3 Crossing Over 7 Day EMA.
DownTrend 3 Crossing Down 7 Day EMA.
Basis the above chart - We are in a DownTrend on a daily time frame. So the question which comes up in Mind is where is the Support or What should one do.
What Should One Do: Sell when 3, 7 or 9 EMA Pullback and SL is Close above 3 Day EMA.
Where will it go, if One Shorts ?
What Should One Do: Sell when 3, 7 or 9 EMA Pullback and SL is Close above 3 Day EMA.
Where will it go, if One Shorts ?
When 3 Crosses Down 7 Day EMA - The Next level on down side it will test is 3 Week EMA First, then 7 Week EMA.
If it succeeds in closing below 3 WEMA - then it turns into Weekly Bearish.
Same way Monthly Charts are followed.
If it succeeds in closing below 3 WEMA - then it turns into Weekly Bearish.
Same way Monthly Charts are followed.
If the Daily Trend is Down and Weekly Up - Then every time Price goes down, the close will be above 3 Week EMA. Weekly Trend will change only when it closes below 3 Week EMA and then does a Cross Down 7 Week EMA.
Many will come up with Arguments stating that Moving Averages are Lagging - My Response: Bhai tum kanse Gems Bond ho jo tumhe last point tak paise kamaana hai....Small Small Profit Karo aur Khush Raho.
All the systems / indicators use Moving Averages only - NOTHING ELSE.
All the systems / indicators use Moving Averages only - NOTHING ELSE.
You keep repeating the Process and monitor charts Houlry - Daily - Weekly - Monthly in reverse order and you will get to the Support and Resistance. You will also be able to take actions depending on the fundamental rule of ema: 3 Cross Over 7 - Buy and 3 Cross Down 7 Sell.
Always use this on SPOT Market. As for as Future Markets are concerned, please remember - giving you Premium is always an OPERATOR CHOICE and not your Birth Right. #JanhitMeinJaari Thank You.
If you start Understanding Moving Averages, Practising them and then following - Then My assurance is that There will be a Day when you will not have to follow any One and If you wish, then you can have your own followers. Observation is KEY.
