Quote:
Originally Posted by Blaiserboy
A short term investor may want to have a look at Macd 7 10 5 and use some shorter trend lines, not necessarily parallel trend lines... and also add a couple stochastics to pick up the short term moves..
ie catch the trends within trends. look for trend line breaks...
It seems to me that the longer time frames are more profitable for traders, even though I like to day trade..LOL
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Yeah, its unfortunate, because day trading is much more fun, but like if you look at the King of the Minis, you can see that the two best trader kinds are the guys who daytrade and basically get 90% of their trades right, or the people who get into a position (usually against the USD) and have held it for years. It may be boring but, alas, such is life.
Anyway, a few comments for the past few posts:
Alfa, definately looks a new trend... lets get on board!
DBiray, I'm not sure what to think here. On the one hand, maybe you're right, and this downward trend will continue (though on an hourly chart, there's more volatility... so who knows.) However, I have three reservations: 1. This is an hourly chart... so that charts aren't going to be as useful as a daily or weekly chart. Two, while the MACd looks ok, at the present time (on the chart), you're a little late for catching it when the lines crossed, and as a result, it wouldn't surprise me to see the chart bounce back up soon as the MACd line goes back up. And finally, tho the RSD is near 30, its still above that level. So if you go short, I wouldn't expect to hold it for too long, I personally think this pair is about to bounce back up.
So I wrote that above paragraph first, and just now checked on the updated chart, and the jury's still out. That next hour turned into a doji, and the following hour came back up, but now its going down again. Very interesting... it hit the lower band, and also notice that the bands are expanding. Perhaps a better idea is to go long on the pair... but I'm open to input.
