are you sure about that? My understanding is that if the price is above or below the 89, determine if we are in the trden or in a counter trend.
Looks like I need to re read Phil's pdf.
Are you sure about that?
thanks again
Nacho
Ricky I have just added the information from Phil's pdf
Hope it helps
Looks like I need to re read Phil's pdf.
Are you sure about that?
thanks again
Nacho
Ricky I have just added the information from Phil's pdf
Hope it helps
Again I ask you to study the movement of the price around the moving averages.
When the price are above the 89SMA the trend is normally up and visa versa. After
the price crosses the 89SMA it tends to pullback to the 21EMA before it carry on its
direction if it is a trend direction change otherwise it tend to test the 89SMA again and
then it runs over and across the 89SMA till it finds direction and then it pulls back to
the 21EMA before proceeding on its path.
DislikedNo, no, no, not a counter trend. The 89 SMA is pointing upwards, which is where we want to go! Therefore, it's with the trend. The RT we just had (on Monday, that I sat out on) was counter trend. Those are the potentially dangerous ones. In my mind, this sort of thing only really sunk in over the last couple of days.
It's going WITH the 89, so the 89 isn't really inclined to reject it, if you know what I'm saying.
Look at the RB on this chart on 28 March. I expect the same sort of thing to happen here.
-Ricky.Ignored