Would like to present a simple yet effective way of understanding and following the TREND of the instrument/stock.
Q: Why I came up with the concept?
A: I wanted to remove noise, keep my chart simple where just a glance, tells the story
The heart of this concept has just 2 moving averages and their smart, effective use.
Daily Time Frame: I am using 5 EMA and 21 EMA.
Q: Why 5 and 21?
A: There are 5 trading days in a week and approx 21 in a month. Moreover, both are Fibonacci numbers.
Weekly Time Frame: 4 EMA and 12 EMA
Q: Why 4 and 12?
A: There are 4 weeks in a month and 12 weeks, constitute a quarter.
Again would derive the #RTM Weekly of the two trends and plot them on the Daily Time Frame chart
Holistic View in front of us